The UK’s HM Revenue and Customs has recovered more than £8 million from hundreds of crypto investors as part of its ongoing crackdown on unpaid digital asset taxes.
A total of 502 investors reached disclosure settlements with HMRC during the past two tax years, according to a Financial Times report citing data obtained through a Freedom of Information request submitted by compliance provider Identomat.
During the 2024 to 2025 tax year, 280 investors paid a combined £3.5 million. The number of settlements declined to 222 in 2025 to 2026, although their total value increased to roughly £4.8 million. The average settlement across the two years was about £16,600.
The settlements followed the launch of HMRC’s crypto disclosure campaign in November 2023, which allows investors to report unpaid taxes linked to exchange tokens, utility tokens, and nonfungible tokens. HMRC has also increased the number of warning letters sent to people it suspects may have failed to report taxable crypto activity.
Separate data showed that HMRC issued 101,024 crypto related warning letters between 2020 and 2025. Nearly 65,000 were sent during the 2024 to 2025 tax year, compared with 27,712 one year earlier.
