ukcryptotax

​Key Insights:
UK crypto exchanges must collect and report user transaction data directly to HMRC under OECD CARF rules from Jan 1. Exchanges must record buy and sell prices, gains and taxpayer details, while cross-border sharing of data starts in 2027. UK is among the first 48 CARF adopters, and 75 countries have agreed to implement the framework.
​United Kingdom started a new phase of crypto tax enforcement, shifting more reporting duties to crypto exchanges and other service providers. The policy targets undeclared gains and income tied to buying, selling, and transferring cryptoassets, where tax authorities have said they see persistent underreporting.
​Crypto Tax News: CARF Rules
​Start in the United Kingdom
New reporting regulations took effect on January 1 in the United Kingdom and in a first wave of other jurisdictions adopting the OECD Cryptoasset Reporting Framework, also known as CARF. Under the rules, cryptoasset service providers must identify customers and capture standardized data on crypto transactions tied to UK residents and other participating countries.Source: X
​The crypto news reported that the United Kingdom is among an initial group of 48 countries moving first, while a broader set of jurisdictions has committed to the framework. The OECD model aims to align crypto reporting with existing tax information sharing standards used for traditional financial accounts.
​OECD monitoring documents say 75 jurisdictions have made political commitments to implement CARF, with first exchanges expected between 2027 and 2029. The United States is scheduled to start later than the early adopters under its planned timeline.
​What Crypto Exchanges Must Collect and Report
​Platforms that provide crypto exchange, brokerage, or custodial services must begin gathering information that links activity to a specific person or business. HMRC guidance says providers need core identity and tax residence details, including name, date of birth, home address, country of residence, and a National Insurance number or Unique Taxpayer Reference for UK residents.
​For non-UK residents, providers must capture a tax identification number and the issuing country, where available.
​For each reportable transaction, the rules require data on value, the cryptoasset involved, the type of transaction, and the number of units. Providers must also run due diligence steps to verify the accuracy of the information they record before submitting annual reports.
​How United Kingdom Plans to Enforce Crypto Tax Compliance
​HMRC is expected to use reported exchange data to compare declared figures against observed activity and to follow up where returns appear incomplete. Notably, HMRC expects the change to support the recovery of at least £300 million in unpaid tax over the next five years.
​The UK tax system already treats many crypto disposals as taxable events, including sales or exchanges that create gains above annual allowances.
​Separate compliance measures also aim to raise disclosure rates for earlier years. Tax advisers have said HMRC is promoting voluntary disclosure for past periods through a disclosure service for undeclared crypto gains, while also increasing outreach to suspected non-compliant taxpayers.
​International Exchange of Crypto Tax Data
​While platforms start collecting data in 2026, cross-border sharing of CARF information is scheduled to begin in 2027. UK government documentation says the United Kingdom is implementing CARF to support the first international exchanges of crypto tax data in that year. This will enable automatic sharing with partner tax authorities that also adopt the standard.
​The crypto news reported that major financial centers such as Singapore, Switzerland, and the United States are expected to join the information-sharing process later in the decade.
​Meanwhile, the Financial Conduct Authority continues consulting on conduct and market standards for crypto firms. It also follows UK United States coordination through a transatlantic task force announced in September 2025.#CryptoNewss #UKCryptoTax #CryptoNew #WriteToEarnUpgrade #UKCrypto $BTC
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The UK has enforced sweeping new crypto tax reporting rules under the OECD's Cryptoasset Reporting Framework (CARF), effective from January 1, 2026. These rules mandate that crypto exchanges and service providers operating in the UK must collect and report detailed user and transaction data to HM Revenue & Customs (HMRC), aligning digital asset oversight with traditional finance standards.
Key Details of the New Rules
Mandatory Data Collection: Platforms must collect specific user data, including full name, address, date of birth, tax residency status, and National Insurance numbers or other tax reference details.
Transaction Reporting: Detailed transaction information must be reported, covering crypto purchases, sales, swaps, and transfers, as well as the capital gains or losses associated with each transaction.
Reporting Timeline: Data collection began on January 1, 2026, for all activities during the 2026 calendar year. The first reports are due to be submitted to HMRC by May 31, 2027.
International Data Sharing: From 2027, HMRC will automatically exchange this data with the tax authorities of over 40 other CARF-participating countries, making it harder for investors to evade taxes by using overseas platforms.
Penalties for Non-Compliance: Exchanges that fail to report face potential fines of up to £300 per user. Individuals who underreport or fail to declare their crypto gains can face back taxes, interest charges, and further investigations.
Impact on Users
The new rules do not introduce new taxes but significantly enhance HMRC's ability to enforce existing ones. Crypto profits from selling, swapping, or spending assets remain subject to Capital Gains Tax (CGT), while income from activities like mining or staking is subject to Income Tax. The annual tax-free allowance for CGT is currently £3,000.
Taxpayers who previously made undeclared gains are encouraged to make a voluntary disclosure to HMRC to potentially reduce penalties. The GOV.UK website provides resources for managing self-assessment tax returns.

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A partire dal 1 gennaio 2026, gli scambi di criptovalute che operano nel paese devono iniziare a raccogliere storie di transazione complete per tutti i loro utenti nel Regno Unito. Il requisito copre quanto i clienti pagano per le attività digitali, le somme per cui vendono e qualsiasi profitto o perdita.

L'HM Revenue & Customs (HMRC) riceverà tali informazioni nel 2027. Gli scambi classificati come “Provider di Servizi di Cripto Attività Reporting” invieranno i dati senza eccezioni. L'autorità fiscale confronterà quindi i registri con le dichiarazioni individuali di autovalutazione.