UK Will Require Crypto Users to Provide Tax IDs Starting January 2026
Starting January 1, 2026, people in the UK who use crypto services will need to provide more personal information, including tax identification numbers. This new rule comes from His Majesty’s Revenue and Customs (HMRC), the UK’s tax authority.
Why This Is Happening
The goal is to help HMRC better track who owns and trades crypto, so they can easily check if someone owes taxes. It will also make it easier to issue penalties for tax violations.
What Users Must Provide
Anyone who buys, sells, transfers, or exchanges crypto using a service provider — even if that provider is based outside the UK — will have to share:
- Full name
- Date of birth
- Home address
- Country where they normally live
- A tax ID (for UK residents, this means a National Insurance number or Unique Taxpayer Reference (UTR))
If someone doesn’t qualify for a tax ID in their country, they won’t need to provide one.
Rules for Businesses and Organizations
Companies, partnerships, and charities must give:
- Legal business name
- Business address
- UK company registration number (if they have one)
- Information about the people who control the business (in some cases)
Penalties for Not Following the Rules
If users don’t give the correct information — or don’t provide it at all — they could face a fine of up to £300 (about $407).
Taxes on Crypto
- If you sell, trade, or give away crypto, you may have to pay Capital Gains Tax.
- If you receive crypto from your job or mining, you must pay Income Tax and National Insurance.
