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Information exchange - The cryptoasset reporting framework (CARF) is designed for the annual automatic exchange of tax information on transactions in cryptoassets based on jurisdictions of tax residence. Changes have also been made to the Common Reporting Standard (CRS) to bring new financial assets, products and intermediaries into scope.
• The UK has now implemented the CARF. Information relating to 2026 will first be exchanged in 2027.
• The OECD has published a list of countries that have committed to exchanging information under the CARF, and the year by which commitments to exchange information have been made. - HMRC consulted on the taxation of stablecoins via a call for evidence. The summary of responses for this introduced legislation to treat eligible stablecoins more like money for tax purposes. For individuals and trustees, it means exempting disposals of eligible stablecoins from Capital Gains Tax and taxing interest-like returns from lending eligible stablecoins as savings income for Income Tax. For companies, it means taxing certain transactions involving eligible stablecoins based on their accounts for Corporation Tax.
- On 13 July 2026, HMRC published draft legislation on individuals and trustees entering into cryptoasset loans and liquidity pool arrangements. Certain disposals will be treated as no gain no loss, which HMRC state will effectively defer CGT until an economic disposal of the cryptoasset.
- Timing: The first information under the CARF will be exchanged by the UK in 2027. The call for evidence on stablecoins published a summary of responses on 13 July 2026. The new stablecoin measures will have affect from April 2027. The cryptoasset loans and liquidity pool arrangements taxation changes will also have affect from April 2027.
Resources (click to open)
- Tax treatment of Cryptoasset Loans and Liquidity Pools (draft legislation, published 13 July 2026)
- Tax treatment of stablecoins (draft legislation, published 13 July 2026)
- Crypto-Asset Reporting Framework and amended Common Reporting Standard: OECD releases IT format for transmitting information and issues interpretative guidance (OECD, 2 October 2024)
- Collective engagement to implement the Crypto-Asset Reporting Framework (10 November 2023)
- Cryptoasset taxation — stablecoins (summary of responses published 13 July 2026)
- Consultation: The taxation of decentralised finance involving the lending and staking of cryptoassets (HMRC, summary of responses published 26 November 2025)
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