From 1 January 2026, HMRC will introduce strict new Crypto Reporting Rules 2026 that will affect anyone in Scotland, and across the UK, who buys, sells, transfers, or exchanges cryptoassets such as Bitcoin.
These new rules mean HMRC will be able to directly link your crypto transactions to your tax record. With over seven million UK residents now owning some form of cryptoasset, this marks a major step in tightening compliance.
How crypto is taxed
For Capital Gains Tax (CGT) purposes, cryptoassets are treated much like shares. Each type of cryptoasset is pooled separately, and a CGT disposal occurs when you:
- Sell cryptoassets, even if you keep the proceeds in the exchange
- Exchange one type of cryptoasset for another
- Use cryptoassets to pay for goods or services
- Gift cryptoassets to someone else (unless to your spouse or civil partner)
Simply moving crypto between your own wallets does not trigger a disposal.
The new reporting requirements
From 2026, individual investors must provide their:
- Name
- Date of birth
- Home address
- National Insurance number or Unique Taxpayer Reference
Using a non-UK crypto exchange won’t automatically avoid the rules — if the provider is in a country signed up to the same reporting standard, the same requirements will apply. However, some jurisdictions haven’t joined, and decentralised exchanges may be outside the scope.
Failing to provide accurate information to a crypto provider could result in a £300 fine.
HMRC’s access to your data
Cryptoasset service providers will send transaction data to HMRC. The first reports, covering the 2026 tax year, will be submitted by May 2027. This will allow HMRC to cross-check against your self-assessment tax return to see if crypto disposals have been declared.
Previously, HMRC relied heavily on voluntary disclosure, but Crypto Reporting Rules 2026 mean far more visibility and less room for error.
From 2024/25 onwards, self-assessment tax returns already include a dedicated section for cryptoasset gains on the CGT pages. For more details, see HMRC’s official guidance.
Get ahead of the changes
Whether you’re an individual investor or a business dealing in digital assets, our tax planning services can help you prepare for Crypto Reporting Rules 2026. We’ll ensure your record-keeping and tax planning are ready well before the deadline.