SI 2025/744 · first report 31 May 2027

UK CARF, in brief.

Crypto platforms with a UK nexus have been under due-diligence and record-keeping obligations since 1 January 2026. The first report to HMRC covers calendar year 2026. This page is those facts, cited. If you need to talk, there is a form at the bottom.

1. 1 Jan 2026

   Due diligence is already running

   UK CARF due-diligence and record-keeping obligations commenced on 1 January 2026.

   SI 2025/744, reg 1

2. 31 May 2027

   First report

   The first CARF report to HMRC covers calendar year 2026 and is due on or before 31 May 2027.

   SI 2025/744, reg 6(1)

3. Same day

   Registration

   Register by the later of 31 May 2027 and 31 January following the first calendar year you are in scope. For a platform in scope for 2026, that is 31 May 2027 — the same day as the first report.

   SI 2025/744, reg 10(1)

4. Who

   Who is in

   Reporting status turns on providing, as a business, a service that effectuates exchange transactions for customers, and on having a UK nexus. Neither custody alone nor accepting crypto as payment settles it.

   OECD step-by-step guide, paras 67 to 68 and SI 2025/744, reg 3

5. £300

   Self-certification penalty

   Maximum £300 per user where a valid self-certification was not obtained. It replaces the £100 due-diligence rate. It does not stack on it.

   SI 2025/744, reg 11

6. FCA

   Independent of authorisation

   CARF is a tax obligation. A platform can sit outside the FCA perimeter and still be fully caught, and the two regimes have different dates.

   SI 2026/102, reg 1(2) and the FCA cryptoasset regime package

CARFdesk is published by Edge2 LTD. It is information, not advice.