Does Coinbase Report to HMRC?

Have you used Coinbase in the UK? HMRC may already know as Coinbase shares transaction details. Learn what Coinbase shares with HMRC and what it means for you.

Is Coinbase legal in the UK?

Yes, Coinbase is legally authorized to operate in the UK. In February 2025, Coinbase obtained registration as a Virtual Asset Service Provider (VASP) from the UK's Financial Conduct Authority (FCA).

This registration permits Coinbase to offer both cryptocurrency and fiat services to retail and institutional customers across the UK, solidifying its position as the largest registered digital assets company in the country, following Binance’s withdrawal from the UK market.

Prior to this, Coinbase's UK subsidiary, CB Payments Ltd., was authorized by the FCA as an electronic money institution, providing fiat services since 2018. The new VASP registration expands Coinbase's capabilities, allowing it to directly offer crypto services within the UK.

Read next: Best Crypto Exchanges UK

Does Coinbase report to HMRC?

Yes. Coinbase has shared information with HMRC about users who have a UK address and received more than £5,000 worth of crypto. The exchange notified UK users about this in 2021.

As a licensed business operating in the UK, Coinbase is expected to continue reporting to HMRC in line with legal obligations.

As part of the introduction of CARF (OECD Crypto Asset Reporting Framework), HMRC has confirmed crypto exchanges operating in the UK will be required to collect and share customer data with HMRC from January 2026.

What does Coinbase report to HMRC?

Other than what’s been made publicly available, it’s unclear what further information Coinbase may have shared with HMRC beyond transaction details for users with more than £5,000 in crypto.

Going forward, the new CARF reporting requirements mandate that all crypto exchanges in the UK will be required to collect and share customer data with HMRC. This will include:

• Full name

• Address

• Country of residence

• Wallet address

• Crypto transactions, including transfers, disposals, gross proceeds, and fair market values of assets

Exchanges must start collecting this data in January 2026 and report data for the 2026 calendar year by May 2027 at the latest. Failure to comply with these new requirements will result in fines of up to £300 per user.

Read next: HMRC Crypto Letters

What does HMRC do with the information Coinbase provides?

HMRC previously used information provided by Coinbase to issue letters to taxpayers it believes have failed to report their transactions accurately and pay any tax due.

HMRC may also be using this information to initiate audits of individuals it suspects have not reported their crypto investments, in an effort to recover unpaid taxes.

How do I report my Coinbase taxes to HMRC?

UK-based Coinbase users are required to report any crypto gains, losses, or income on their self-assessment tax return, which can be submitted online through the Government Gateway.

While Coinbase doesn’t supply UK-specific tax forms, a crypto tax calculator like Koinly can help simplify the process by generating the necessary tax reports.

Read next: Crypto Tax UK Guide

Report your Coinbase taxes with Koinly

Koinly simplifies Coinbase tax reporting. You can automatically sync your Coinbase transactions by connecting via SSO or uploading a CSV file.

Once your data is imported, Koinly calculates your gains, losses, income, and more, then generates the tax reports you need to file with HMRC. Learn how to generate your Coinbase tax documents with Koinly.