HMRC contacts just 0.4pc of crypto investors over potentially huge tax bills

03/16 06:19

According to Telegraph, HM Revenue & Customs has contacted fewer than 1pc of British cryptocurrency investors about potentially owing thousands of pounds in tax. The taxman sent out 8,329 letters to known crypto investors about potential capital gains tax bills in 2021. That represents just 0.4pc of British crypto investors. Most crypto investors have less than £1,000 invested in digital assets, and so are unlikely to breach the £12,300 capital gains allowance. A spokesman for HMRC said letters had been targeted at specific investors. The spokesman said cryptocurrency investors had been urged to review their transactions to ensure any taxes were declared correctly.
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