HMRC Recovers £8.3 Million in Crypto Back Taxes

Britain taxes crypto gains under its existing framework, requiring investors to report liabilities based on the nature of their transactions. Compliance has become a growing priority as digital-asset ownership expands and tax authorities gain better access to customer and trading data. Figures obtained by identity-verification provider Identomat through a Freedom of Information request offer a snapshot of HM Revenue & Customs’ efforts to recover unpaid crypto-related taxes.

A total of 502 crypto investors made voluntary disclosures and settled £8.328 million in unpaid tax over the 2024/25 and 2025/26 fiscal years, according to the data. The average settlement rose sharply to £21,500 in 2025/26 from £12,600 a year earlier. HMRC said voluntary disclosure is only one part of its enforcement campaign, adding that it sent about 100,000 reminder letters to crypto investors over the two-year period.