UK HMRC Sends 81,000 Crypto Tax Warnings in 2025/26, Nearly Triple 2024 

UK tax authorities sharply increased scrutiny of cryptocurrency investors in the 2025/26 financial year, issuing more than 81,000 letters over suspected unpaid tax liabilities, according to Protos.

The volume was almost three times the 27,714 letters issued in 2024. HM Revenue and Customs (HMRC) linked much of the potential tax shortfall to gains accumulated during the crypto bull market spanning 2022 to 2025.

The enforcement push covers more than cashing out crypto. Capital gains tax liabilities can arise when holders sell or gift digital assets, exchange one cryptoasset for another, or spend crypto on goods and services.

Taxpayers who fail to settle their liabilities may be charged interest and penalties of up to 100% of the tax owed.

HMRC is also preparing to expand its access to crypto investor data. The agency expects powers next year that would require offshore crypto companies to provide customer information.

HMRC estimates the measures could bring in £315 million by 2030.

Source: Protos