Paying tax on cryptoassets: how to pay HMRC and how long it takes

Before paying, you need to tell HMRC about any unpaid tax on cryptoassets. The department then sends a payment reference number, which is needed for every payment. The official guidance on GOV.UK, last updated on 13 November 2026, explains the rules.

Deadline for payment

The full amount owed must be paid within 30 days of making the disclosure. If the deadline falls on a weekend or bank holiday, the payment should reach HMRC by the end of the previous working day. Missing the deadline can lead to a penalty, interest, or both.

How to pay

The reference number has 14 characters and starts with the letter X. It appears on the letter HMRC sent after the disclosure. An incorrect reference number will delay the payment being allocated correctly.

You can pay online in two ways:

• by approving a payment through your online bank account, using the "pay by bank account" option,
• by debit card or corporate credit card.

A payment from a bank account is usually instant, although it can take up to 2 hours to show. A non-refundable fee applies to corporate credit cards, and personal credit cards cannot be used. Card payments are accepted on the date they are made, not the date the money reaches HMRC's account.

How long a transfer takes

Payments by CHAPS or Faster Payments arrive on the same or the next working day. Bacs payments can take up to 3 working days. The guidance recommends checking your bank's processing times and transaction limits before paying.

HMRC must be paid in pounds sterling (GBP). If you pay in another currency, your bank will convert the money and take a fee. HMRC will then receive less than intended, and you will need to make a further payment to cover the difference.

If you cannot pay the full amount

The full amount should be paid when you make the disclosure. If that is not possible, tell HMRC as soon as you have your reference number. The department may then agree a new payment offer. You will need to provide your reference number, how and when you expect to pay, your weekly or monthly income and outgoings, your assets, and any debts. The HMRC phone line is 03000 55 22 94 (Monday to Thursday 9am to 5pm, Friday 9am to 4:30pm).

What this means for you

These rules apply to people who owe unpaid tax on cryptoassets to HMRC. Anyone in this situation living in the UK should note the 30-day deadline from the disclosure, and that paying in pounds sterling avoids the conversion fee charged by banks on other currencies.