HMRC: crypto firms to report customer data for the first time in 2027
Firms offering cryptoasset services in the UK must report user data and a summary of their transactions to HMRC. The first report, covering 2026, is due between 1 January and 31 May 2027.
Author: Editorial teamPublished: 2 min read
Contents
HMRC has published guidance on reporting user and transaction data under the Cryptoasset Reporting Framework (CARF). The duty falls on firms that provide cryptoasset services in the UK. The guidance page was last updated on 3 June 2026.
Who the new rules apply to
Firms must collect details of all their users. However, they only have to report users who are tax resident in the UK or in another country that has signed up to CARF. HMRC expects those users' details and a summary of their transactions. If a firm has nothing to report in a given year, it does not need to submit a report.
How and when to report
Reports must be submitted through an HMRC online service. According to the guidance, the service is not live yet, and HMRC says it will update the page when it is. The report must be an XML file of up to 250MB. Technical guidance on creating such files is in the XML schema published by the OECD.
Firms must submit their first report between 1 January 2027 and 31 May 2027. It will cover the period from 1 January 2026 to 31 December 2026. In later years the deadline is 31 May, covering the previous calendar year.
Penalties
HMRC may charge a penalty of up to £300 per user for not following the rules. A penalty may apply if a firm does not report, submits late, or files a report that is inaccurate, incomplete or unverified. Details of penalties are set out in HMRC's International Exchange of Information Manual.
What this means for you
The new obligations apply to firms, not to individual users, and you do not need to report anything to HMRC yourself. However, people living in the UK who use crypto exchanges or other cryptoasset services should expect their provider to collect their details. If a user is tax resident in the UK or another CARF country, their details and a summary of their transactions may be passed to HMRC. The guidance does not list the CARF countries, so it is not clear from it whether Poland is one of them.
Questions about CARF can be sent to HMRC at.
Sources
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Photos
- Cover: „bitcoin, cryptocurrency, currency, blockchain, woman”, author: geralt, licence Pixabay Content License; cropped or resized.
- Photo 1: „business, calculator, calculation, assurance, finances”, author: Edar, licence Pixabay Content License; cropped or resized.
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