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UK Tax Authority Intensifies Crypto Crackdown with 65,000 Investor Warnings
UK Tax Authority Intensifies Crypto Crackdown with 65,000 Investor Warnings
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BTCCSquare news:
HM Revenue & Customs (HMRC) has dispatched 65,000 'nudge letters' to UK crypto investors in the 2024-25 tax year, more than doubling prior enforcement efforts. The campaign targets undeclared capital gains from digital asset transactions as retail participation surges.
Tax specialists warn that even coin-to-coin swaps may trigger liabilities under current rules. HMRC's enhanced surveillance capabilities now include direct data feeds from major exchanges, significantly improving compliance monitoring.
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