HMRC Warns Crypto Holders: Almost 82,000 Suspected of Unpaid Capital Gains Tax

HMRC has sent over 81,000 warning messages to crypto holders suspected of unpaid capital gains tax. This is a significant increase from previous years, with warnings almost tripling since the 2023-24 tax year and up by 25% from the 65,000 sent in 2024-25.

The government's tax agency has been cracking down on crypto traders who fail to pay their taxes. Many traders are young and inexperienced with HMRC, assuming the agency lacks visibility into their trading activities.

HMRC will soon have access to more data from cryptocurrency platforms in dozens of countries outside the UK, which is expected to make it easier for tax investigations into crypto investors.