London is the UK’s crypto hub. HMRC is targeting traders in 2025 — here’s what you need to know.
Intro
London is the beating heart of UK finance — and HMRC knows it. If you’re trading crypto in London, here’s how tax works in 2025.
HMRC Rules for 2025/26
- Crypto = property.
- Capital Gains Tax (CGT) on disposals (sell, swap, spend).
- CGT allowance = £3,000.
- Rates: 10% (basic) / 20% (higher/additional).
- Staking/mining/airdrops = income tax.
Why London Traders Are Targeted
- High trading volumes on exchanges.
- Banks flagging large transfers.
- HMRC letters going to London postcodes at higher rates.
What To Do
- Keep clear records (wallet + exchange CSVs).
- File by Jan 31 self-assessment deadline.
- Avoid penalties by correcting early.
Final Thoughts
If you’re in London, expect HMRC scrutiny.
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