HMRC steps up its focus on cryptoasset tax

If you’ve bought, sold or exchanged cryptoassets, it’s worth taking a moment to check that your tax affairs are up to date.

HMRC has announced a new campaign to raise awareness of the tax implications of cryptoasset transactions. Between July 2026 and March 2027, some taxpayers may receive a letter, email or text message encouraging them to review their tax position.

Many people don’t realise that cryptoassets can have tax implications. Depending on the type of transaction, you could be liable for Capital Gains Tax or Income Tax, even if you’ve only traded occasionally.

If you receive a communication from HMRC, there’s no need to be concerned. The campaign is designed to encourage taxpayers to review their tax position and make any necessary amendments or disclosures where appropriate.

Get in touch for support

If you’ve invested in cryptoassets and you’re unsure whether you need to declare any gains or income, or you receive a letter from HMRC and have questions, our tax and accounting team is here to help.

Contact us to understand what the rules mean for your circumstances and ensure everything is reported correctly.