The period for which UK crypto investors must calculate the amount of tax arrears is four calendar years from the date of filing the notice.
HMRC has advised taxpayers who have already provided tax information to the Treasury that they have 30 days from the date of disclosure to make all required payments. If the deadline is not met, the Treasury promises to take enforcement action and users may face fines.
Earlier, the United Kingdom Tax Office announced its intention to ease tax rules for participants in the digital asset industry, bringing their tax regime closer to the existing rules.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
