HMRC sends 81,000 warning letters to crypto holders in tax campaign
Number of notifications nearly triples since 2024, Freedom of Information request reveals
The UK tax authority (HMRC) has sent 81,000 warning letters to individuals holding crypto assets as part of its campaign to combat tax evasion. The volume of notifications indicates a significant increase in enforcement within this sector.
Scale of the operation
According to a Freedom of Information (FOI) request, the number of letters sent has nearly tripled since 2024, demonstrating HMRC's intensified efforts in monitoring transactions involving digital currencies.
Purpose of the letters
The communications serve to alert crypto asset holders of the obligation to declare gains and losses on their income tax, reinforcing the need to comply with current tax regulations.
With information from BBC News.
Source: BBC News
Understand the topic
In-depth reporting from Explosão Solar that explains the subject of this story.