HMRC Recovers Over 8 Million Pounds From Crypto Tax Settlements

The U.K. tax authority has recovered more than 8 million pounds after three years of cracking down on crypto tax evasion, following settlements with hundreds of cryptocurrency investors. According to Foresight News, data obtained through freedom of information requests showed that 502 crypto investors reached disclosure settlement agreements with the U.K. tax authority over unpaid taxes in the past two years. In the 2024/25 tax year, 280 people settled with HMRC and paid a total of 3.5 million pounds. In the 2025/26 tax year, the number of settlements fell to 222, but the total amount rose to about 4.8 million pounds. The U.K. Financial Conduct Authority said in analysis published this year that about 8% of U.K. adults, or around 4.5 million people, own crypto assets, more than double the level seen since 2020. The analysis estimated the average value of U.K. crypto holdings at 2,250 pounds, while most holders have less than 1,000 pounds invested and about 16% hold more than 5,000 pounds.