HM Revenue and Customs (HMRC) published guidance outlining the data collection and reporting obligations for reporting crypto-asset service providers (RCASPs) under the OECD’s Crypto-Asset Reporting Framework (CARF). The measures introduce new compliance requirements for U.K.-based RCASPs, starting from January 1, 2026.
Key points from the HMRC guidance:
Mandatory data collection begins 2026: All U.K.-based RCASPs must begin collecting information on users and their transactions starting January 1, 2026.
Who qualifies as an RCASP: The obligations apply to crypto exchanges, brokers, and dealers that facilitate or enable trading in crypto-assets.
Reporting deadline: Reports based on 2026 data may need to be submitted by May 31, 2027.
User notification and registration: RCASPs must register through HMRC’s online portal and notify users that their information will be collected and reported, no later than January 31, 2027.
Penalties for noncompliance: Failing to report, submit accurate information, or meet deadlines can result in penalties of up to £300 (approximately USD 409) per user.
The guidance aligns the U.K.’s crypto-asset tax transparency rules with international standards under the OECD’s CARF.
Source: gov.uk
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