New reporting requirements for crypto asset businesses launching January 2026

HMRC has published guidance for reporting Crypto asset service providers under the new Crypto asset Reporting Framework (CARF).

From January 2026, UK businesses facilitating crypto asset exchanges must collect user and transaction data, with the first submissions to HMRC due in May 2027.

The UK is introducing the Organization for Economic Development (OECD) Crypto asset Reporting Framework (CARF), which standardizes global reporting for improved tax transparency, and extending it to include domestic reporting.

The framework requires any UK-based business that either transacts crypto assets on behalf of users or provides a means for users to transact crypto assets (such as bitcoin, stable coins and non-fungible tokens (NFTs) to report user information in XML format, with penalties for non-compliance.

HMRC also published guidance for users of UK crypto asset service providers, explaining what information they will need to provide to the service provider.

For further information and help about Tax Return contact Amin & Co Accountants or call at 0161 224 3510