HMRC have published guidance on the Cryptoasset Reporting Framework (CARF) outlining new obligations to collect and report user data.
From 1 January 2026 UK-based reporting cryptoasset service providers (RCASPs) will be required to collect and report information on user transactions to HMRC under the UK rules for the Cryptoasset Reporting Framework (CARF).
Early data collection is recommended to ensure compliance with the new reporting requirements. Further updates to the guidance will be provided by HMRC in due course.
It follows a consultation launched at Spring Budget 2024 on how the UK should implement the CARF and related amendments to the Common Reporting Standard by the OECD.
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HMRC have published guidance on the Cryptoasset Reporting Framework (CARF) outlining new obligations to collect and report user data.
From 1 January 2026 UK-based reporting cryptoasset service providers (RCASPs) will be required to collect and report information on user transactions to HMRC under the UK rules for the Cryptoasset Reporting Framework (CARF).
Early data collection is recommended to ensure compliance with the new reporting requirements. Further updates to the guidance will be provided by HMRC in due course.
It follows a consultation launched at Spring Budget 2024 on how the UK should implement the CARF and related amendments to the Common Reporting Standard by the OECD.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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