Crypto investors warned to disclose unpaid tax

HMRC has given crypto investors the opportunity to voluntarily disclose unpaid tax going back four years on their cryptocurrency and non-fungible token (NFT) transactions

As well as paying the tax for any years in question, penalties and interest will be charged on all unpaid tax.

HMRC has provided a penalty calculator so people can calculate the amount of interest owed and work out any penalties accumulated from the years of not paying tax on these assets.

Disclosures can be made online and crypto and non-fungible token (NFT) transactions will have to be included as a separate item on self assessment tax returns for the first time in the 2024-25 tax year.

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