Thu, 01 Jan 2026

Thu, 01 Jan 2026 Crypto users forced to share account details with tax officials

The move is designed to ensure people pay all relevant tax on buying and selling crypto.

* From January 1st, individuals buying cryptocurrency in the UK must provide their account details or face penalties.
* This change aims to ensure crypto investors pay tax on buying and selling, including capital gains tax.
* HMRC will automatically collect information from cryptocurrency exchanges to identify users and calculate unpaid taxes.
* The move is expected to bring in tens of millions in unpaid tax and follows a consultation on tougher regulations for the industry.
* Investors who bought low and sold high may now have to pay taxes on their gains, after authorities struggled to collect it previously.
* Cryptocurrency exchanges must ensure they provide accurate account information or face fines.
* The new rules are being implemented globally, making international cooperation easier for tax authorities.
* HMRC estimates that thousands of crypto owners in the UK have unpaid tax bills and hopes the new rules will bring in at least £300m over the next five years.
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