UK to Crack Down on Crypto: Enthusiasts Must Disclose Incomes
The Ministry of Finance updates tax return forms. According to amendments, individuals will be required to declare profits & income generated via crypto assets in a separate category unconnected with other sources of income.
These adjustments shall be implemented during the 2024-25 financial year. Legislators assume that this is a positive measure which would boost tax revenues by tens of millions of pounds.
