UK’s tax authority HMRC doubles crypto warning letters to target undeclared gains.
HM Revenue & Customs (HMRC), the UK agency responsible for tax collection and customs, has increased its efforts to ensure that crypto investors follow the rules by sending out almost 65,000 reminder letters during the 2024–25 tax year. This number shows a big rise from the 27,700 letters sent last year, making the total over 100,000 letters sent in the past four years. These letters aim to encourage investors to