by: xpoolPosted on:

HMRC Tightens Scrutiny on Cryptocurrency Investors

The UK’s HM Revenue and Customs (HMRC) is ramping up its focus on cryptocurrency investors. The agency has doubled the number of warning letters sent to individuals suspected of underreporting or failing to pay taxes on digital asset gains, according to Foresight News. In the 2024-25 fiscal year alone, HMRC issued nearly 65,000 ‘nudge’ letters, compared to just 27,700 in the previous year. These letters aim to encourage self-correction before formal investigations are initiated. Over the past four years, HMRC has sent out over 100,000 such warning letters.

Related posts:

  1. UK Doubles Crypto Warning Letters as Tax Scrutiny Intensifies
  2. UK Tightens Crypto Rules: Warning Letters Surge Amidst Market Growth
  3. HMRC Launches Crypto Tax Blitz: 65,000 Warnings Issued to Investors
  4. HMRC Increases Crypto Tax Enforcement Efforts with Nudge Letters to Potential Evaders