UK Government to Start Cracking Down on Crypto Tax Avoidance in January
U.K. resident users of major cryptocurrency exchanges will kick off the New Year with detailed transaction data automatically collected as the country’s authorities prepare to crack down on tax avoidance.
According to the new HM Revenue & Customs (HMRC) rules, crypto exchanges operating in the United Kingdom are required to start collecting the full transactional record from Jan. 1, 2026, of all their U.K. customers.
“With platforms set to keep a record of this information from January 1, 2026, ahead of sharing it with HMRC the year after, the tax office will be able to cross-check tax returns against the data they’ve received,” Seb Maley, CEO of tax insurance provider Qdos, told FT.
British tax experts say that this…
