HMRC recovered £477m in additional capital gains tax last year, up 82%. “We are seeing more targeted inquiries and we understand the Revenue is using AI in reviewing statements and records,” Jeff Millington of Withers told the FT. Advisers say HMRC has become 'more assertive' in its pursuit of untaxed gains, asking taxpayers for more information and taking increasingly aggressive positions in settlements, while facing pressure to bring in more revenue through compliance. Combine that pressure with greater data access, more aggressive enforcement and AI-assisted review and the risks are obvious. People can be pulled into investigations on flawed assumptions, decisions become harder to challenge, and ever more sensitive information is concentrated in systems few taxpayers can question. For Bitcoin holders the consequences can be much more serious. A bank record stays inside a closed system. A Bitcoin address already sits on a public ledger. Once a name, home address or tax ID is linked to that address, any future leak or disclosure turns years of activity into a permanent, searchable public record and creates lasting physical security risks. More aggressive enforcement combined with expanding data powers needs far more scrutiny than it is getting. Full article: https://www.ft.com/content/b4996387-0a4a-4f75-b16d-830fbc8c40c3?syn-25a6b1a6=1 View quoted note →