His Majesty’s Revenue and Customs (HMRC) has issued a stern warned crypto users that they must declare and pay their taxes on digital assets within a strict timeframe, or face the consequences. The tax office issued guidance on how to go about declaring and paying taxes on their crypto holdings published on Nov. 29, starts with a clear warning: 

“If you do not contact us to declare your unpaid tax, you could be liable to additional interest and penalties.”

The HMRC specifies the amount of time users are given to pay outstanding taxes will depend on why they didn’t pay up earlier. It suggests taxpayers choose from three options and confess whether they didn’t take enough care,…

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