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UK to Add Crypto Declaration in Tax Forms
Taxpayers will have to record their crypto gains separately as of next year, the U.K. Treasury said.
Updated Mar 15, 2023, 4:26 p.m. Published Mar 15, 2023, 2:07 p.m.
U.K. taxpayers will have to separately report crypto assets on their tax forms in a move that is expected to raise an extra 10 million British pounds (US$12 million) per year for the public purse.
The move was announced by Chancellor of the Exchequer Jeremy Hunt in the annual budget on Wednesday.
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“The government is introducing changes to the Self Assessment tax return forms requiring amounts in respect of cryptoassets to be identified separately,” to be introduced in the tax year that ends in April 2025, the U.K. Treasury said in a document published Wednesday.
A document published by tax authority HM Revenue & Customs said the change would apply to forms for capital gains tax, payable when investments are sold at a profit.
The government also said it would work to “maximize the potential” of the metaverse, while managing downside risks to privacy, security and harms.
UPDATE (March 15, 14:58 UTC): Adds reference to HMRC document in penultimate paragraph.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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