His Majesty’s Revenue and Customs has given a personal compliance manager to every billionaire it can tie to the UK. The list now reaches beyond people who file a British tax return.

The tax authority has not published names or a headcount. It says those figures will appear in a wealthy compliance plan due later this year.

Watchdogs told HMRC it Could not Count its Own Billionaires

The National Audit Office found last year that HMRC assigned compliance managers to about 15,000 wealthy taxpayers. That was roughly 2% of the group, and allocation ran on risk rather than wealth alone.

“HMRC cannot identify how much tax is paid by UK billionaires, despite the relatively small number of individuals and significant sums of money involved,” the cross-party Public Accounts Committee noted in its report.

HMRC rebuilt the list from its own records, public information such as rich lists, and data shared by other governments. Each manager maps one person to their connected companies, trusts and other entities.

Crypto is not the Target, but the Data is Arriving

HMRC has not said whether any crypto billionaire sits on the list. Wealth built in tokens counts the same as wealth built in property once a person clears the threshold.

What changes next is visibility. The Cryptoasset Reporting Framework took effect in Britain in January. The international standard forces trading platforms to hand customer records to tax authorities. Those UK crypto reporting rules start feeding exchange data to HMRC in 2027.

The agency already sees a slice of it. Government data shows 17,600 people declared £1.38 billion in cryptoasset gains for 2024-25. Of those, 240 crypto millionaires accounted for £717 million.

HMRC also sent 65,000 warning letters to suspected crypto traders that year, up from 27,700.

The compliance plan due before the end of 2026 is the next point at which the list’s size becomes public. The exchange files follow a year later.

Source: BeInCrypto