UK cryptoasset service providers must collect transactions and tax details of all their users from next calendar year, according to UK tax authority guidance issued Wednesday.
Service providers will need to collect all their users’ details from Jan. 1, 2026, but only need to report information to His Majesty’s Revenue and Customs that relates to UK tax residents, or residents of countries that are signed up to the OECD’s Cryptoasset Reporting Framework, according to HMRC guidance.
Cryptoasset service providers are businesses that facilitate buying, selling, transfer, or exchange of cryptoassets.
Individuals, companies, partnerships, trusts, and charities must submit information ...