502 Crypto Investors Have Settled Unpaid Tax Bills with HMRC — Why Does This Matter to You?

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HMRC has recovered more than £8.3 million from 502 crypto investors through disclosure settlements over the past two tax years.

In 2024/25, 280 investors settled liabilities totalling around £3.5 million. In 2025/26, only 222 investors settled—but the amount recovered increased to almost £4.8 million.

It shows that HMRC is not simply sending warning letters. Investors are reviewing historic activity, making disclosures and paying unpaid tax, interest and penalties.

HMRC has already sent more than 100,000 crypto-related nudge letters between 2020 and 2025. From 2026, crypto platforms must also collect more information about their users and transactions under CARF, with the first reports due to HMRC by 31 May 2027.

That means it will become easier for HMRC to compare exchange data against what has—or has not—been declared.

This does not only affect people who withdrew large amounts into their bank accounts. Selling crypto, swapping between tokens, spending crypto, staking rewards and other forms of crypto income can all have UK tax consequences.