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Explore community questions and practical answers about carf.
From January 2026, exchanges will report all transaction details directly to HMRC under the Crypto-Asset Reporting Framework (CARF). Will this change how I calculate capital gains or income? What if I've mainly used non-UK or decentralised platforms – do I still need to self-report everything?
With CARF now live (Jan 2026), HMRC will soon get detailed reports from exchanges starting for 2026 activity, and potentially more scrutiny on past years. I realised I underreported some gains from 2023-2024 (mostly spot trading). Is now a good time to use HMRC's disclosure facility to come clean voluntarily and reduce penalties? What's the process like, rough penalty range for unprompted disclosure, and has anyone done this recently for crypto? Don't want to wait for a nudge letter! Thanks for sharing experiences.
Happy New Year everyone! With the Crypto asset Reporting Framework (CARF) kicking in from 1 January 2026, UK-based (or UK-serving) exchanges are now collecting and reporting user data to HMRC. Can anyone clarify exactly what gets reported? Is it just personal info (name, address, NI number) plus transaction history, or also wallet addresses, balances, and every transfer (even to personal wallets)? I'm a UK resident using a mix of UK and international platforms – do foreign exchanges have to comply if they have UK users? Trying to make sure my records are spot-on before any data gets shared. Thanks!