The taxman has ramped up its crackdown on cryptocurrency investors suspected of tax evasion, This is Money can reveal.
Crypto traders thought to have underpaid taxes on their investments have been warned via a barrage of letters sent out by HM Revenue and Customs.
It has posted 81,000 warning letters to those suspected of underpaying tax in the past year – a 25 per cent increase on the 65,000 letters it sent in the previous year, according to a Freedom of Information request obtained by accountancy firm UHY Hacker Young.
Warnings may come in the form of a letter, text message or notification.
Tax
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