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Insights, guides, and updates on crypto tax compliance

Flat-vector illustration: a brown envelope stamped NOTICE slides towards a large navy strongbox full of ledger pages and coins, but stops short. A person stands in front holding the only key, on a background of faint padlock outlines.
UK TaxRegulation

HMRC wants your crypto records from us. We do not have them

A third crypto measure published on L-Day 2026 would let HMRC send compulsory notices for records to any business whose services relate to cryptoassets, with no tribunal approval and no right of appeal against the notice, and oblige software developers to help inspect their own code. Recap has told HMRC the measure is wider than the evidence supports, that it would push UK taxpayers' data to overseas providers, and that compelled holdings data is a physical-safety risk. Here is what the measure does, why we built Recap so there is nothing to hand over, and what we asked for.

Ben ShepheardLouise Lane
Ben Shepheard, Louise Lane
Flat-vector illustration: a person pours gold crypto coins from a jar into a large blue liquidity pool bowl while identical coins flow back out into their other hand. In the foreground a blank tax form carries a red stamp reading NO GAIN, NO LOSS.
UK TaxRegulation

L-Day 2026: HMRC's DeFi tax fix is the one we asked for. Here is how to make it work

On 13 July 2026 the government published draft legislation that ends the dry tax charge on crypto lending, borrowing and liquidity pools, and exempts everyday stablecoin transactions from capital gains tax. It is the reform Recap has asked for since 2023. We spent the summer testing the drafting against real transaction histories and sent HMRC a 22-page response. This post explains what the clauses do and the fixes we asked for before they become law on 6 April 2027.

Ben Shepheard
Ben Shepheard
Flat-vector illustration: a brown envelope stamped NOTICE slides towards a large navy strongbox full of ledger pages and coins, but stops short. A person stands in front holding the only key, on a background of faint padlock outlines.
UK TaxRegulation

HMRC wants your crypto records from us. We do not have them

A third crypto measure published on L-Day 2026 would let HMRC send compulsory notices for records to any business whose services relate to cryptoassets, with no tribunal approval and no right of appeal against the notice, and oblige software developers to help inspect their own code. Recap has told HMRC the measure is wider than the evidence supports, that it would push UK taxpayers' data to overseas providers, and that compelled holdings data is a physical-safety risk. Here is what the measure does, why we built Recap so there is nothing to hand over, and what we asked for.

Ben ShepheardLouise Lane
Ben Shepheard, Louise Lane
Narrative flat-vector illustration for the UK 'Does X report to HMRC?' series: a CoinCorner exchange kiosk with the real CoinCorner drop-shaped 'D' mark centred in a blank white sign tile hands documents and gold £ coins through a large outlined question-mark gate into an oversized kraft HMRC envelope on an in-tray, on Recap's house teal-to-violet gradient with a faint pound-sterling glyph pattern.
UK TaxRegulation

Does CoinCorner report to HMRC? (2025/26 UK guide)

CoinCorner Ltd operates from the Isle of Man and appears to fall within the Cryptoasset Reporting Framework's definition of a reporting provider, so its CARF route would be the Isle of Man's Assessor of Income Tax, with the first returns of reportable 2026 activity due by 30 June 2027. UK customer data is expected to reach HMRC only once the UK and Isle of Man exchange relationship is in effect, which HMRC's published 2026 lists had not confirmed as at 31 July 2026. This guide explains that route, what HMRC can already ask for, what happened to Coinfloor records, and how to turn CoinCorner's statements into a UK tax position.

Dan Howitt
Dan Howitt
Narrative flat-vector illustration for the UK 'Does X report to HMRC?' series: an eToro exchange kiosk with the real eToro <etoro> wordmark centred in a blank white sign slot hands documents and gold £ coins through a large outlined question-mark gate into an oversized kraft HMRC envelope on an in-tray, on Recap's house teal-to-violet gradient with a faint pound-sterling glyph pattern.
UK TaxRegulation

Does eToro report to HMRC? (2025/26 UK guide)

eToro's UK service is provided by eToro (UK) Ltd, an FCA-authorised firm that is also registered with the FCA for cryptoasset services. That makes it a UK reporting cryptoasset service provider under the Cryptoasset Reporting Framework, so it must collect customer identity and crypto transaction data and report it to HMRC every year. This guide explains which eToro entity reports, what HMRC receives and when, and how to get a USD-denominated eToro history into shape for a UK tax return.

Dan Howitt
Dan Howitt
Editorial single-metaphor icon for the UK crypto capital gains allowance on Recap's house teal-to-violet gradient: an oversized measuring beaker fills with gold £, Bitcoin and Ethereum coins up to a glowing £3,000 line, with excess coins overflowing and turning red into a TAX tray, and a torn calendar reading 6 APRIL with a reset arrow showing the allowance renews (and unused amounts are lost) each UK tax year.
UK TaxTax Saving

Crypto tax-free allowance UK 2026/27: the £3,000 rule explained

Most UK individual investors can make £3,000 of capital gains in the 2026/27 tax year before any capital gains tax is due, and that allowance covers crypto alongside every other asset they own. This guide explains what counts towards the £3,000, the other allowances crypto investors can use, and the reporting traps that catch people who assume "under the allowance" means "nothing to do".

Dan Howitt
Dan Howitt
Narrative flat-vector illustration for the UK 'Does X report to HMRC?' series: a Luno exchange kiosk with the real Luno mark centred in a flat white sign tile hands documents and gold £ coins through a large outlined question-mark gate into an oversized kraft HMRC envelope on an in-tray, on Recap's house teal-to-violet gradient with a faint pound-sterling glyph pattern.
UK TaxRegulation

Does Luno report to HMRC? (2025/26 UK guide)

There is no public confirmation that Luno routinely reports UK customer data to HMRC, but that is not the whole story. HMRC can request exchange data under its statutory powers, and from 1 January 2026 the UK's Cryptoasset Reporting Framework requires in-scope providers to report customer data annually, with the first reports due by 31 May 2027. Whether and where Luno reports has not been publicly confirmed. Meanwhile, Luno has published a wind-down timetable for customers in regions it will no longer serve, ending with account closure on 1 September 2026; its public guidance does not name the affected regions, so check the notice Luno sent you. Here is what HMRC can see, where Luno stands with UK regulators, what the wind-down means for your tax, and the records to save before self-service access ends.

Dan Howitt
Dan Howitt
Narrative flat-vector illustration for the UK 'Does X report to HMRC?' series: a Nexo exchange kiosk with the real Nexo mark composited cleanly on its front sign hands documents and gold £ coins through a large outlined question-mark gate into a kraft-brown HMRC envelope on an in-tray, on Recap's house teal-to-violet gradient with a faint pound-sterling glyph pattern.
UK TaxRegulation

Does Nexo report to HMRC? (2025/26 UK guide)

Nexo has not publicly confirmed a reporting arrangement with HMRC, and where it reports under the Cryptoasset Reporting Framework depends on which Nexo entity serves you, something its public materials do not yet make clear. UK users should still assume their activity can become visible to HMRC from 2027, and the tax deserves at least as much attention: interest is generally income, borrowing needs its terms examined, and liquidations are disposals.

Dan Howitt
Dan Howitt
Narrative flat-vector illustration for the UK 'Does X report to HMRC?' series: a crypto exchange kiosk with the real Revolut mark centred on its front sign hands documents and gold £ coins through a large outlined question-mark gate into an oversized kraft HMRC envelope on an in-tray, on Recap's house teal-to-violet gradient with a faint pound-sterling glyph pattern.
UK TaxRegulation

Does Revolut report to HMRC? (2025/26 UK guide)

Revolut's UK crypto services are provided by Revolut Ltd, a UK-incorporated firm on the FCA's cryptoasset register. Under the UK's Cryptoasset Reporting Framework, that makes it a UK reporting cryptoasset service provider: it must collect customer and transaction data and report it to HMRC annually. This guide explains what is reported, when HMRC receives it, and what to do if you have gains or income you have not declared.

Dan Howitt
Dan Howitt
Narrative flat-vector illustration for the UK 'Does X report to HMRC?' series: a Bitpanda Pro exchange kiosk with the real Bitpanda Pro mark centred in a blank white sign tile hands documents and gold £ coins through a large outlined question-mark gate into an oversized kraft HMRC envelope on an in-tray, on Recap's house teal-to-violet gradient with a faint pound-sterling glyph pattern.
UK TaxRegulation

Does Bitpanda Pro report to HMRC? (2025/26 UK guide)

Bitpanda Pro no longer exists under that name: it became One Trading, a separate Dutch exchange, in 2023, while Bitpanda serves UK customers through its own UK-incorporated firm. Who reports your data to HMRC depends on which company you actually used and when. Pre-2026 Bitpanda Pro trades are not swept into the new reporting framework, but any gains or income from them still had to be declared. This guide explains the entity split, where your records live, and how each company's reporting reaches HMRC from 2026.

Dan Howitt
Dan Howitt
Narrative flat-vector illustration for the UK 'Does X report to HMRC?' series: a Gemini kiosk with the real Gemini mark centred in a white sign tile hands documents and gold £ coins through a large outlined question-mark gate into a kraft-brown HMRC envelope on an in-tray, on Recap's house teal-to-violet gradient with a faint pound-sterling glyph pattern.
UK TaxRegulation

Does Gemini report to HMRC? (2025/26 UK guide)

Gemini is a reporting cryptoasset service provider, and HMRC can obtain data about your Gemini activity through its existing information powers and, from 2026, routinely under the Cryptoasset Reporting Framework. Gemini also closed all UK customer accounts on 6 April 2026, so if you did not save your records first, the practical question is how to get them back and square up your tax. This guide explains what HMRC can see, what CARF changes, and what to do next.

Dan Howitt
Dan Howitt
Narrative flat-vector illustration for the UK 'Does X report to HMRC?' series: a Bybit exchange kiosk with the real Bybit wordmark cleanly composited on its wide front sign hands documents and gold £ coins through a large outlined question-mark gate into an oversized kraft HMRC envelope on an in-tray, on Recap's house teal-to-violet gradient with a faint pound-sterling glyph pattern.
UK TaxRegulation

Does Bybit report to HMRC? (2025/26 UK guide)

It depends which Bybit you mean. Since December 2025 there have effectively been two: Bybit's UK platform, made available under an Archax-approved financial-promotion arrangement and offering spot and P2P trading; and the older global Bybit platform, a Dubai-based offshore venue from a UK user's perspective, which most UK users have traded on. Bybit itself is not FCA-authorised. Assume HMRC can obtain or receive Bybit-related data either way: UK-side activity is the kind CARF's rules are designed to capture, and the global platform is reachable through UK on and off-ramp records, HMRC's information powers against UK-connected data holders, and international exchange, including CARF where the overseas provider is in scope. Here is what that means and how to get your tax right.

Dan Howitt
Dan Howitt
Narrative flat-vector illustration for the UK 'Does X report to HMRC?' series: a crypto exchange kiosk with the real Poloniex mark centred on its front sign hands documents and gold £ coins through a large outlined question-mark gate into an oversized kraft HMRC envelope on an in-tray, on Recap's house teal-to-violet gradient with a faint pound-sterling glyph pattern.
UK TaxRegulation

Does Poloniex report to HMRC? (2025/26 UK guide)

There is no public evidence that Poloniex currently sends HMRC a routine direct feed. However, it is not beyond HMRC's reach: activity may be visible through UK banks and other exchanges, existing information-exchange channels and, where the relevant provider is in scope, the Cryptoasset Reporting Framework. Poloniex is also on the FCA warning list, and older accounts can contain spot trades, historic lending returns, staking rewards and margin activity that are easy to misreport. Here is what HMRC can realistically see, how those transactions may be taxed and what to do if you are behind.

Dan Howitt
Dan Howitt
Editorial still-life flat-vector illustration for a UK crypto exchange ID/CARF explainer: an oversized self-certification ID card with a gold coin as the photo, a green VERIFIED tick, and blank NAME/DATE OF BIRTH/NI NUMBER fields is posted halfway into a plain text-only HMRC envelope, flanked by a padlock and fingerprint icon, on Recap's house teal-to-violet gradient with a faint pound-sterling glyph pattern.
UK TaxRegulation

Why is my crypto exchange asking for my personal details? (UK CARF 2026)

From 1 January 2026, UK-based reporting cryptoasset service providers began collecting users' identity and transaction details under the Cryptoasset Reporting Framework, including a tax identification number such as a National Insurance number or UTR. The first reports covering 2026 are due to HMRC by 31 May 2027. The underlying requirement is genuine, although scammers may imitate these requests, so always respond through the provider's official app or website. Providing your details does not itself create a tax bill, but it makes it easier for HMRC to compare reported activity with your tax record.

Dan Howitt
Dan Howitt
Narrative flat-vector illustration for the UK 'Does X report to HMRC?' series: a Coinpass exchange kiosk with the real Coinpass mark centred in a flat white sign tile hands documents and gold £ coins through a large outlined question-mark gate into an oversized kraft HMRC envelope on an in-tray, on Recap's house teal-to-violet gradient with a faint pound-sterling glyph pattern.
UK TaxRegulation

Does Coinpass report to HMRC? (2025/26 UK guide)

Yes, in effect. Coinpass is a UK-based exchange and OTC brokerage that is registered with the FCA and now majority-owned by OANDA, a regulated global broker, so it is firmly inside the UK system rather than an offshore venue. From 2026 the Cryptoasset Reporting Framework is expected to bring UK cryptoasset providers into direct reporting to HMRC, and an FCA-registered UK firm is exactly the kind of business that captures. Coinpass is also built for serious and business traders, so its OTC and large block trades tend to produce big single disposals for capital gains tax. Here is what HMRC can see, where Coinpass sits with regulators, how its trades are taxed, and what to do if you are behind.

Dan Howitt
Dan Howitt

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Recap Blog: Crypto Tax Guides, Tips & News | Recap