UK Tax Authority Sends 65,000 Crypto ‘Nudge Letters’ to Suspected Tax Evaders

HM Revenue & Customs (HMRC) has intensified its scrutiny of the crypto sector, sending 65,000 “nudge letters” to investors suspected of underreporting or evading taxes on digital assets, more than double last year’s figure, according to The Financial Times. The data, obtained through a Freedom of Information Act request by accounting firm UHY Hacker Young, shows a 134% increase in warning notices. These letters are typically sent before formal investigations begin, urging recipients to review their filin ...