If you plan to sell or swap crypto or other assets in the 2025/26 tax year, it is important to understand the Capital Gains Tax thresholds, rates and reporting rules. This article outlines the position for the tax year ending 5 April 2026.
Even where no tax is payable, there may still be a requirement to report disposals.
Contents
- 1. What Is Capital Gains Tax?
- 2. CGT Allowances and Rates for 2025/26
- 3. Do You Need to Report?
- 4. Filing and Payment Deadlines
- 5. Crypto Tax Cheat Sheet for 2025/26
- Conclusion
- FAQs
- References
1. What Is Capital Gains Tax?
Capital Gains Tax (CGT) applies when you make a profit from selling, exchanging or otherwise disposing of certain assets. For crypto users, this includes:
- Selling tokens for fiat
- Exchanging one token for another
- Gifting crypto, unless to a spouse or civil partner
- Spending crypto to purchase items or services
You pay CGT only on the profit, which is the difference between what you originally paid and what you received at the point of disposal.
In the UK, most individuals who hold or trade crypto will be taxed under CGT rules rather than Income Tax. HMRC may apply Income Tax where the activity amounts to a trade or part of a business, but this article focuses solely on CGT. For the tax treatment of crypto income such as staking or mining, see our Income from Crypto articles.
2. CGT Allowances and Rates for 2025/26
The annual exempt amount for Capital Gains Tax in 2025/26 remains:
- £3,000 per individual
If your total gains exceed this amount, tax may be payable unless covered by losses or other reliefs.
For all disposals in 2025/26, the rates are:
- 18% for gains within the basic rate income tax band
- 24% for gains above that threshold
3. Do You Need to Report?
You are required to report disposals to HMRC if:
- Your gains exceed the £3,000 CGT exemption
- Your total disposal proceeds exceed £50,000 and you are already registered for Self Assessment.
Crypto-to-crypto trades are treated as disposals by HMRC. This means that even where no cash is received, a reporting obligation may still arise. For more information, see our guide on crypto-to-crypto swaps and tax.
4. Filing and Payment Deadlines
The 2025/26 tax year covers transactions between 6 April 2025 and 5 April 2026.
If you fall within scope for CGT reporting, the deadlines are:
- Register for Self Assessment: by 5 October 2026
- File your tax return online: by 31 January 2027
- Pay any CGT due: also by 31 January 2027
These deadlines apply to crypto and other financial assets.
5. Crypto Tax Reference Card for 2025/26
A summary of the key CGT rates, allowances and deadlines for 2025/26 is set out below for reference.
Conclusion
The CGT annual exemption remains at £3,000 for 2025/26, meaning more individuals will fall within the scope of reporting, even where gains are relatively modest.
If you expect to dispose of assets during the tax year, or have already done so, you should ensure your records are maintained and that any reporting obligations are met within the required deadlines.
FAQs
The Capital Gains Tax (CGT) annual exemption for individuals in 2025/26 is £3,000. This means the first £3,000 of your total gains for the year are tax-free.
The deadline for reporting gains from the 2025/26 tax year is 31 January 2027. You must include any taxable gains in your 2025/26 Self Assessment return and pay any tax due by this date.
For the 2025/26 tax year, chargeable crypto gains are taxed at 18% where they fall within your basic rate income tax band and 24% above that threshold.
For 2025/26, you may not need to report gains below the £3,000 CGT allowance unless your total disposal proceeds exceed £50,000 or you are otherwise required to file a Self Assessment return.
No. The CGT annual exemption is 'use it or lose it' and cannot be carried forward to future tax years.
