by Asim Abbas
11 November 2026 
Crypto reporting from 2026: what CARF means for UK investors
Crypto reporting from 2026: what CARF means for UK investors
From 1 January 2026, UK crypto platforms started collecting detailed information about their users’ transactions, under the OECD’s Cryptoasset Reporting Framework.
- Platforms collect data from 1 January 2026
- First reports to HMRC by 31 May 2027
- Users must give platforms their NI number or UTR
- HMRC can match data to tax returns
The first reports go to HMRC in 2027, and data will also be shared between countries. HMRC will be able to match crypto activity against tax returns much more easily.
This guide explains what CARF is, what’s reported and what crypto investors should do now.
What is CARF?
The Cryptoasset Reporting Framework is an international standard requiring crypto service providers to collect information on users and transactions and report it to tax authorities. The UK applies it to UK-resident users as well as overseas users, so HMRC gets domestic and international data.
What’s reported
- Your name, address, date of birth and tax identification number
- Purchases and sales of crypto for fiat currency
- Exchanges between cryptoassets
- Transfers to and from wallets
- Gross proceeds and quantities
Crypto tax calculator
Estimate your crypto CGT.
What you need to do
- Give your platform your NI number or UTR when asked, or face a penalty
- Keep your own records of every transaction
- Use crypto tax software to calculate gains with the matching rules
- Report gains above the £3,000 exemption or proceeds over £50,000
- Declare staking, mining and airdrop income as income
Dan swaps £20,000 of Bitcoin for Ethereum in 2026/27, making a £6,000 gain, and later sells some Ethereum for £15,000 with a £2,000 gain. He hasn’t realised that a crypto-to-crypto swap is a disposal. His exchange reports both transactions. HMRC sees £35,000 of disposals but no tax return. His £8,000 total gain, less £3,000, is taxable, and he should register and report it.
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HMRC already receives data from UK exchanges and sends nudge letters. CARF will greatly increase this. If you have unreported gains or income from past years, HMRC’s cryptoasset disclosure service lets you correct this, usually with lower penalties if you come forward first. See our voluntary disclosure guide.
Crypto tax rates
Gains are taxed at 18% and 24%, after the £3,000 annual exemption. Crypto income such as staking rewards is taxed as income. See our crypto tax guide.
See GOV.UK guidance on the Cryptoasset Reporting Framework, our crypto tax calculator and our crypto tax returns service.
What should I do next?
Avoid penalties.
From every exchange.
Pooling rules.
Frequently Asked Questions
What is CARF?
An international framework requiring crypto platforms to report users’ transactions to tax authorities.
When did CARF start in the UK?
Data collection started on 1 January 2026, with first reports in 2027.
Is swapping crypto taxable?
Yes. Exchanging one cryptoasset for another is a disposal for CGT.
What if I haven’t declared crypto gains?
Use HMRC’s cryptoasset disclosure service, ideally before HMRC contacts you.
Do I have to give my exchange my NI number?
Yes, when asked under CARF.
Need help with this? Wingate Accountants offers fixed-fee online accountancy support across the UK. Call 0161 531 4179 or request a quote at wingateaccountants.co.uk.
About the Author
Asim Abbas
I’m Asim Abbas, founder of Wingate Accountants and a Chartered Certified Accountant. I help sole traders, landlords and directors stay on top of their tax with fixed fees and plain-English advice.
