01/01/2026
New crypto tax reporting rules are here and they matter!
From 1 January 2026, crypto platforms will be legally required to collect and share detailed account and transaction data with HM Revenue & Customs (HMRC) under the global Crypto-Asset Reporting Framework (CARF). That means details like your tax residency, trades, gains and losses won’t just sit in your exchange anymore, HMRC will have direct visibility on crypto activity.
Why this matters to small business owners and investors:
• HMRC can now cross-check your self-assessment returns against exchange data.
• Undeclared profits or mistakes on crypto disposals are much easier for tax officials to spot.
• Accurate records and declarations are more important than ever if you’ve been trading, selling or using crypto.
If you’ve got crypto, now’s the time to tidy up your records, make sure transactions are properly reported and get ahead of your 31 January self-assessment deadline. Missed or incorrect reporting could trigger penalties and HMRC will soon have the tools to spot inconsistencies fast.
Need help understanding how these changes affect your tax position? Drop me a message, Seamount Accountancy are here to make sense of the numbers for you.
