Overview

• From January 1, 2026, UK cryptocurrency exchanges must collect and report users’ personal details, including name, date of birth, address and NI or Unique Taxpayer Reference numbers.
• Platforms are obliged to submit full transaction data—value, type, nature and quantity of crypto units traded—to HMRC.
• HMRC will cross-check exchange reports against self-assessment tax returns to uncover undeclared capital gains and launch investigations.
• Exchanges risk fines up to £300 per user for inaccurate or incomplete reporting, while individuals may face penalties equal to 100% of unpaid tax plus interest.
• The rules will affect more than six million UK crypto holders and extend to business traders and overseas investors under HMRC’s global compliance drive.