If you sold crypto, shares or other assets in the 2024/25 tax year, you may need to file a Self Assessment return by January 2026. This article outlines the key Capital Gains Tax deadlines and allowances for the tax year ending 5 April 2025.
Even where no tax is payable, HMRC may still require disposals to be reported.
Contents
- 1. What Is Capital Gains Tax?
- 2. CGT Allowances and Rates for 2024/25
- 3. Do You Need to Report?
- 4. Filing and Payment Deadlines
- Conclusion
- References
1. What Is Capital Gains Tax?
Capital Gains Tax (CGT) is charged when you make a profit on the sale or disposal of certain assets. For UK crypto investors, this includes:
- Selling crypto for fiat
- Swapping one token for another
- Gifting crypto, unless to a spouse or civil partner
- Using crypto to buy goods or services
You pay tax on the gain, which is the difference between what you paid and what you received, not on the full amount.
In most cases, crypto is subject to CGT, not Income Tax. The exception is where you are mining, staking or trading in a way that HMRC considers to be a business activity.
This article focuses on Capital Gains Tax only and does not cover the tax treatment of crypto income such as staking or mining. For further detail, see our Income from Crypto articles.
2. CGT Allowances and Rates for 2024/25
The annual exempt amount for Capital Gains Tax in 2024/25 is:
- £3,000 per individual
If your gains exceed this amount, tax may be payable unless covered by capital losses or other reliefs.
For disposals between 6 April 2024 and 29 October 2024, CGT rates for crypto are:
- 10% for gains within the basic rate income tax band
- 20% for gains above it
For disposals on or after 30 October 2024, the rates change to:
- 18% for gains within the basic rate income tax band
- 24% for gains above it
3. Do You Need to Report?
You need to report crypto disposals to HMRC if either of the following apply:
- Your gains exceeded the £3,000 CGT allowance
- Your total disposal proceeds exceeded £50,000 and you are registered for Self Assessment
Crypto-to-crypto trades are treated as disposals by HMRC and can give rise to gains even where no fiat currency is received. For more information, see our guide on the taxation of crypto-to-crypto swaps.
4. Filing and Payment Deadlines
The 2024/25 tax year runs from 6 April 2024 to 5 April 2025.
If you are within scope for reporting CGT, here are the key dates:
- Register for Self Assessment: by 5 October 2025
- File your tax return online: by 31 January 2026
- Pay any tax due: also by 31 January 2026
Conclusion
The CGT allowance for 2024/25 is £3,000, meaning more individuals fall within the reporting requirement, even where gains are relatively modest.
If you disposed of assets between 6 April 2024 and 5 April 2025, you should ensure your records are complete and that any reporting obligations are met within the required deadlines.
