Crypto Investors to Get Tax Warning in Sign of U.K. Enforcement

Oct. 22, 2021, 5:53 PM

Cryptocurrency investors who receive a “nudge” letter from the U.K. about making tax payments should take them seriously, as ignoring them may carry serious penalties, tax advisers warn.

Her Majesty’s Revenue and Customs confirmed Thursday that it is planning to launch a letter-writing campaign reminding investors of their tax obligations.

“We want to help people get their tax affairs right and we regularly undertake activity to educate customers who might need help. Our letter asks cryptoasset holders to review their transactions to ensure that they are declared correctly,” a spokeswoman for HMRC said.

The HMRC letter focuses on tax years ...

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