UK ‘crypto’ investors settle over £8M with HMRC since 2024

Homepage > News > Business > UK ‘crypto’ investors settle over £8M with HMRC since 2024 The United Kingdom’s tax authority, HM Revenue & Customs (HMRC), has pulled in over £8 million ($11 million) since 2024 from settlements with 502 digital asset investors arising from unpaid taxes, according to a recent Freedom of Information (FOI) request. U.K. tax authority sees millions in tax settlements from digital currency investors Standards for tax settlements for the future of U.K. regulatory framework What tax obligations face U.K. digital currency investors? The obstacles in the U.K. digital currency landscape Ways to boost compliance and cut tax deficits The significance of tax settlements for U.K. regulatory pathways Based on figures published July 24 by financial services compliance provider Identomat—which made the FOI request—the settlements resulted from “voluntary disclosures” over the past two years, as U.K. digital currency investors and firms gradually attempted to get themselves compliant with the more stringent reporting requirements of the Crypto-Asset Reporting Framework (CARF), an international standard for tax reporting and data exchange created in 2023. I...