40% rise in crypto ownership will ramp up tax compliance activity warns BDO
The 40% rise in the number of Britons owning crypto-assets revealed by the latest FCA survey will lead to a ramping up of compliance activity against those who fail to pay the correct tax on their crypto gains, accountancy and business advisory firm BDO has warned.
The FCA’s survey, published today, found that 12% of UK adults – equivalent to 7 million people – now own crypto-assets. This is up from 10% of adults – or 5 million people – in 2022.
According to the survey, the value of holdings is also rising. The average value of crypto-assets held by people increased from £1,595 to £1,842 when compared to the previous wave of the survey in August 2022.
Among crypto owners, 19% now own holdings with a value of…
