The value of cryptocurrencies such as Bitcoin and Ethereum has fallen in the past year, but HMRC suspects there are still large amounts of unpaid capital gains from the rise in cryptocurrency values between December 2022 and October 2025.During this time, the price of Bitcoin shot up from around £14,000 to £90,000.Accountants are urging investors to check whether they owe money, as upcoming powers will make it easier for HMRC to target individuals.From March 2027, cryptocurrency platforms located in dozens of countries outside the UK will be obliged to share information about their customers with tax authorities.HMRC said the new powers would force “crypto bros to pay their fair share of tax” when the rules were announced last year.The tax office estimated the changes would help raise up to £315m by April 2030, adding that this was the same amount needed to fund more than 10,000 newly qualified nurses for a year.”Once HMRC has this data, tax investigations into cryptocurrency investors will be like shooting fish in a barrel,” warned Ms Chauhan.In the last year, the price of Bitcoin has fallen to around £48,000.
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81,000 warning letters sent to crypto holders in HMRC tax crackdown
