New rules will make it harder for crypto investors to evade tax
BDO urges taxpayers to accurately declare all crypto gains and losses before 31 Jan
New rules which have come into force for 2026 will make it harder for crypto investors to hide their gains from international tax authorities, according to Accountancy and Tax specialists, BDO.
From 1 January 2026, the Cryptoasset Reporting Framework (CARF) comes into force which requires UK reporting cryptoasset service providers to collect and report information to HMRC about the tax residency of users and their transactions.
Information on non-UK users will be exchanged with other tax jurisdictions who have also implemented the CARF. In return, HMRC will receive data collected from other jurisdictions to help it tackle tax evasion and…
