Guidance

Check if you'll need to report cryptoasset data to HMRC

Find out whether you'll need to start reporting to HMRC under the Cryptoasset Reporting Framework (CARF).

From 1 January 2026 if you provide cryptoasset services in the UK, you鈥檒l have new responsibilities for collecting data and reporting it to HMRC.

This is because the UK is introducing the Organisation for Economic Development (OECD) Cryptoasset Reporting Framework (CARF), and extending it to include domestic reporting.

We鈥檒l be updating this guidance with more information in due course.

You can聽subscribe to get emails about updates to聽CARF听驳耻颈诲补苍肠别.

Who will need to report

All UK-based 鈥榬eporting cryptoasset service providers鈥� (RCASPs) will need to report to HMRC.

What counts as an RCASP

Your business is considered an鈥�RCASP鈥痠f it either:

  • transacts cryptoassets on behalf of users
  • provides a means for users to transact cryptoassets

Some examples of an RCASP include cryptoasset:

  • exchanges
  • brokers
  • dealers

What counts as a cryptoasset

A cryptoasset is a digital representation of value that uses a cryptographically secured distributed ledger (or similar technology) to validate and secure transactions.

To count as a cryptoasset under CARF, they must also:

What counts as UK-based

Your organisation is considered UK-based if any of these criteria apply:

  1. you鈥檙e a tax resident in the UK
  2. your business is incorporated in the UK
  3. your business is managed in the UK
  4. you have a regular place of business or branch in the UK

If the criteria apply to both the UK and another country that follows CARF rules, you鈥檒l only need to report in one country.

To work out which country to report in, use the criteria as a hierarchy with tax residence at the top. You should report in the CARF country that is highest on the hierarchy.

For example, if you鈥檙e a tax resident in France and your business is incorporated in the UK 鈥� you only have to report in France. This is because tax residence is first on the hierarchy.

If two countries are at the same level on the hierarchy, you can choose which country you report in. For example, if you鈥檙e a tax resident in both the UK and Germany, you can choose to report in either the UK or Germany.

What you鈥檒l need to do

If you鈥檙e a UK-based RCASP, you need to start collecting information about your users and their transactions from 1 January 2026. You may want to start collecting information earlier to prepare for the new rules. Find out what information you鈥檒l need to collect.

Depending on the information you collect, you may need to submit a report to HMRC. If required, you鈥檒l need to submit your first report by 31 May 2027. Find out鈥�about reporting cryptoasset data to HMRC.

By 31 January 2027, you鈥檒l also need to:聽聽

  • register with the online service 鈥� it鈥檚 not live yet, we鈥檒l update the guidance once it is聽聽
  • tell your users that you鈥檒l be reporting their details

Penalties

If you do not follow the rules, you may be charged a penalty of up to 拢300 per user.

Situations where you could be charged a penalty include:

  • if you do not report
  • if you submit your report late
  • if your report is inaccurate, incomplete or unverified

If you need support聽

If you鈥檙e unsure whether you鈥檒l need to report, you can contact the Automatic Exchange of Information (AEOI) helpline.

Updates to this page

Published 14 May 2025

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