HMRC Intensifies Scrutiny on Cryptocurrency Investors

According to Foresight News, the UK's HM Revenue and Customs (HMRC) is increasing its scrutiny of cryptocurrency investors, doubling the number of warning letters sent to individuals suspected of underreporting or evading taxes on digital asset gains. In the 2024–25 fiscal year, HMRC issued nearly 65,000 letters, compared to 27,700 in the previous year. These letters, known as 'nudge' letters, aim to encourage investors to voluntarily correct their tax filings before formal investigations are initiated. Over the past four years, the agency has sent out more than 100,000 such letters source: https://www.binance.com/en/square/post/31204875084857?utm_source=BinanceNewsRSS