HMRC has sent more than 81,000 warning messages to crypt holders it suspects of failing to pay capital gains tax, as it ramps up a crackdown on the issue.
The government’s tax agency sent 81,172 such warnings via letters, emails and texts for the 2025-26 tax year, almost tripling since the 27,714 sent in the 2023-24 tax year, and 25 percent up from the 65,000 sent in 2024-25, according to a Freedom of Information inquiry by accountancy firm UHY Hacker Young.
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Tax evasion
“There is the expectation among tax authorities that cryptocurrency investment is rife with tax evasion,” said UHY partner Neela Chauhan, adding that many crypto traders are young, have had few previous dealings with HMRC and often assume the agency has limited visibility into their trading activities.
