HMRC sends crypto income tax “call” letters to around 65,000 crypto investors

According to Foresight News, the Financial Times reported that Her Majesty’s Revenue and Customs (HMRC) is increasing its scrutiny of crypto investors and has doubled the number of warning letters issued to those suspected of underreporting or evading tax on digital asset gains. It sent out nearly 65,000 letters in the 2024–25 financial year, compared with just 27,700 in the previous year. The letters, known as "call" letters, are intended to prompt investors to voluntarily correct their tax returns before a formal investigation is launched. The agency has sent out more than 100,000 such letters in the past four years.
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