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.

AccessTimeIconMar 15, 2023 at 2:07 p.m. UTC
Updated Mar 15, 2023 at 4:26 p.m. UTC

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.

“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.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Jack Schickler

Jack Schickler is a CoinDesk reporter focused on crypto regulations, based in Brussels, Belgium. He doesn’t own any crypto.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about