The UK tax authorities have sent 65,000 letters to suspected cryptocurrency tax evaders.
According to a report by Jinse Finance, the UK tax authority has sent 65,000 so-called "reminder letters" to individuals suspected of owing cryptocurrency taxes, more than double the number from last year, according to the Financial Times. In the UK, selling, exchanging, or spending cryptocurrency typically incurs capital gains tax, while staking rewards and airdrops are generally considered income.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Opinion: The structural bull market remains intact, with three major positive factors driving the next rally
Data: Tether and Circle have cumulatively issued an additional 6 billion USD in stablecoins
Data: Hyperliquid platform whales currently hold $5.171 billions in positions, with a long-short ratio of 0.85.
HM Revenue & Customs sends crypto gains tax "reminder" letters to about 65,000 crypto investors in the UK
Trending news
MoreCrypto prices
More
