Reporting cryptoasset user and transaction data

If you provide cryptoasset services in the UK, you must collect data and report it to HMRC.

This is because of rules called the Cryptoasset Reporting Framework (CARF).

WhatInformation you need to report

You need to collect details of all of your users, but you only need to report on users who are tax resident in the UK or another country that is signed up to CARF rules.

You need to report these users’ details and a summary of their transactions.

If you have no information to report in a year, you do not need to submit a report.

WhenHow you need to report

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Penalties

If you do not follow the rules, we may charge you a penalty of up to £300 per user.

You could be charged a penalty if:

• you do not report
• you submit your report late
• if your report is inaccurate, incomplete or unverified

Find out about penalties (International Exchange of Information Manual: IEIM8000600).

More information

You can find detailed information about the Cryptoasset Reporting Framework:

• in the International Exchange of Information technical manual
• in the rules and commentary on the Organisation for Economic Development (OECD) website

You can also find out about international tax transparency standards on the OECD’s website.

If you have questions about the Cryptoasset Reporting Framework, you can email eoi.policy@hmrc.gov.uk.