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HMRC sent nearly 65,000 warning letters to crypto investors last year, more than double the previous year, as the UK steps up efforts to trace undeclared capital gains.
💡 DMK Insight
The surge in warning letters from HMRC signals a new era of scrutiny for crypto investors in the UK. With nearly 65,000 letters dispatched, it's clear that the tax authority is not just watching from the sidelines anymore; they’re actively hunting for undeclared capital gains. This uptick could serve as a wake-up call for traders who may have been operating under the radar, reminding them that the taxman has a long reach and a keen eye. As the crypto landscape evolves, so too must the strategies of investors—transparency is no longer optional, it’s essential.
📮 Takeaway
Investors should ensure their crypto gains are declared to avoid hefty penalties from HMRC.
