{"id":238226,"date":"2021-04-29T12:09:53","date_gmt":"2021-04-29T09:09:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/uk-revenue-authority-to-target-cryptocurrency-tax-evaders\/"},"modified":"2021-04-29T12:09:53","modified_gmt":"2021-04-29T09:09:53","slug":"uk-revenue-authority-to-target-cryptocurrency-tax-evaders","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/uk-revenue-authority-to-target-cryptocurrency-tax-evaders\/","title":{"rendered":"# UK revenue authority to target cryptocurrency tax evaders"},"content":{"rendered":"<p>&#8220;<strong># UK revenue authority to target cryptocurrency tax evaders   <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvMjE3ZjJmZWMtZGE0MS00YTYxLWJkZmItZGEzMWMwOGQzNTljLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Her Majesty&#8217;s Revenue and Customs, the tax authority of the United Kingdom, will ramp up its efforts to snare cryptocurrency tax evaders in an attempt to uncover what it regards as hidden wealth, says U.K. accountancy group UHY Hacker Young.<\/p>\n<p>According to the group, the \u201cstatement of assets\u201d form that is used in tax evasion investigations will now include a section focused specifically on cryptocurrencies such as Bitcoin (BTC), Ether (ETH) and others. <\/p>\n<p>Along with explicit demands for information on crypto holdings, the form will also reportedly include sections dedicated to other systems of exchange, including the black market peso used by Mexican and Colombian cartels, along with similar unsanctioned currencies used in Africa, India and China.<\/p>\n<p>\u201cHMRC suspects that an increasing amount of hidden wealth is slipping through its fingers thanks to the rise of cryptocurrencies and other unsanctioned money transfer systems. This demand for information is an important step in HMRC\u2019s fightback against that,\u201d explained UHY Hacker Young director, David Jones.<\/p>\n<p>\u201cA defence of ignorance of the law in this booming sector will no longer wash with the taxman,\u201d Jones added.<\/p>\n<p>The HMRC\u2019s demand for information on cryptocurrency holdings may not necessarily be met, says Jones. However, should someone fail to declare cryptocurrency holdings during an investigation and authorities later uncover a crypto wallet belonging to them, they could now face additional criminal charges. <\/p>\n<p>\u201cWhile criminals can still choose to not declare these assets, doing so gives HMRC another opportunity to bring criminal charges against them if their forensic work finds a hidden Bitcoin wallet,\u201d Jones explained.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/uk-revenue-authority-to-target-cryptocurrency-tax-evaders\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# UK revenue authority to target cryptocurrency tax evaders &#8221; Her Majesty&#8217;s Revenue and Customs, the tax authority of the United Kingdom, will ramp up its efforts to snare cryptocurrency tax evaders in an attempt to uncover what it regards as hidden wealth, says U.K. accountancy group UHY Hacker Young. According to the group, the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":238227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvMjE3ZjJmZWMtZGE0MS00YTYxLWJkZmItZGEzMWMwOGQzNTljLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74891,70934,46483,4966],"class_list":["post-238226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-ethereum","tag-regulation","tag-taxes","tag-united-kingdom"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/238226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=238226"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/238226\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/238227"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=238226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=238226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=238226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}