Penalty of Rs 200 per day for Non-Reporting of Crypto Transactions From April 2026

Last updated: 05 February 2026


Quick Summary
The UK government is introducing new penalties for crypto transactions to ensure tax compliance. From April 2026, reporting entities will face a daily fine of £200 for failing to report crypto transactions or for providing inaccurate information. This measure aims to close a compliance gap and encourage accurate, timely reporting in the growing digital asset market.

The Government has proposed a new penalty framework for failure to furnish statements or for furnishing inaccurate information relating to crypto transactions. The proposal seeks to enforce reporting obligations under the Income-tax law and introduce deterrence against non-compliance in the rapidly
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FAQ :

A penalty of £200 per day will be levied for failing to furnish the required statement on crypto-asset transactions.

A penalty of £50,000 will be imposed for furnishing inaccurate particulars in the statement and failing to correct such inaccuracies.

The proposed penalty provisions will come into force from 1 April 2026.

The penalties are being introduced to ensure effective implementation of reporting obligations under Section 509 of the Income-tax Act and to deter non-compliance in the digital asset ecosystem.

Section 509 of the Income-tax Act places an obligation on prescribed reporting entities to furnish a statement containing details of transactions in crypto-assets.




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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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