In 2027, HMRC will receive the first reports under the Cryptoasset Reporting Framework (CARF), covering activity during 2026. People using cryptoasset services may already be asked for tax details. Understanding why those details are collected helps you prepare your own records.
Checked on 3 October 2026. This article covers new HMRC reporting with a confirmed first deadline in 2027.
What happens in 2027?
Reporting providers must submit their first report between 1 January and 31 May 2027, covering 1 January to 31 December 2026. Subsequent reports are due by 31 May for the preceding calendar year. HMRC confirms the dates.
CARF data collection started on 1 January 2026. The framework requires customer identification and relevant transaction reporting, alongside international information exchange. HMRC’s manual explains the provider obligations.
What information might a platform request?
Individual users must provide their full name, date of birth, address, country of residence and tax identification number where eligible for one. In the UK, this could be a National Insurance number or UTR. Read the guidance for users.
HMRC says failure to provide accurate details to a UK provider can attract a penalty of up to £300. Other countries may apply different penalties. Using an overseas service does not necessarily prevent information reaching HMRC.
If you receive a request, open the service through its familiar app or your saved website address. Check the request in your account rather than replying with personal data to an unverified email. This practical precaution helps avoid mistakes and phishing.
A platform report does not replace your tax return
CARF is an information-reporting framework, rather than an automatic calculation of your tax. A transaction export can help, but may not include costs from earlier years, activity in other wallets or the relevant tax adjustments.
Selling tokens, swapping one cryptoasset for another, spending them or giving them away can be a disposal for Capital Gains Tax, subject to applicable exceptions. Whether you withdrew cash to a bank account does not settle the question. HMRC explains disposals.
Tokens received from employment, mining or certain other activities may also require consideration of Income Tax and National Insurance. Check HMRC’s guidance on receiving cryptoassets. Our Income Tax 2026/27 guide provides the general income-tax context.
Calendar years and tax years are different
The first CARF report covers calendar year 2026. The UK tax year runs from 6 April to 5 April, so that reporting period crosses two tax years.
A transaction in February 2026 and one in August 2026 can appear in the same platform reporting period but belong to different tax years. Organise your own calculations by the correct dates instead of copying the calendar-year total into a tax return.
What can you do now?
- Download transaction histories from every service you use.
- Add activity from your own wallets.
- Record costs, fees, dates and values in GBP.
- Identify transfers between your own accounts so they can be distinguished from other events.
- Check that platform identity and tax-residence information is current.
If records are missing, start reconstructing them. Staking, DeFi, cross-border circumstances or previously unreported years may benefit from an adviser familiar with cryptoasset taxation.
What needs checking before publication?
The first reporting dates are confirmed. The HMRC guidance reviewed here does not yet describe the provider portal as live; check its status before publication. This article does not announce new cryptoasset tax rates.