UK: Guidance on cryptoasset reporting framework (CARF)

UK CARF guidance is closely aligned with the OECD CARF, with limited UK-specific changes.

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november 25, 2025

HM Revenue and Customs (HMRC) on November 5, 2025, updated its International Exchange of Information Manual (IEIM) to include guidance on the cryptoasset reporting framework (CARF), in line with the Reporting Cryptoasset Service Providers (RCASPs) (Due Diligence and Reporting Requirements) Regulations 2025, which are scheduled to take effect on January 1, 2026.

The UK CARF guidance is closely aligned with the OECD CARF, with limited UK-specific changes, and includes sections on the regulatory framework, scope of RCASPs, nexus rules, due diligence, reporting, and compliance requirements.

Read a November 2025 report prepared by the KPMG member firm in the UK

The guidance also outlines penalties for RCASPs and self-certification providers failing to meet CARF obligations, including penalties for failure to apply due diligence procedures, comply with record-keeping obligations, provide valid self-certifications, submit reports on time, and notify reportable users.

Read a November 2025 report prepared by the KPMG member firm in the UK

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