Entertainment

Welsh crypto investors alerted to stricter tax reporting requirements

Published

6 months ago

July 30, 2025

HM Revenue & Customs (HMRC) has issued a reminder to cryptocurrency investors in Wales that from 1 January 2026, a new regime will demand significantly more transparency around crypto holdings and gains. The upcoming implementation of the Crypto asset Reporting Framework (CARF), both users and service providers face new obligations and penalties up to £300 for non-compliance.

The measures were authorised by the UK government after adopting the OECD’s global standard designed to combat digital-asset tax evasion. HMRC has since released draft rules requiring crypto platforms, including exchanges, wallets, brokers, staking services, and payment providers, to collect personal and transactional data from users and transmit it annually to HMRC.

With these new rules in sight, it’s a good opportunity for investors to consider strategies that combine both asset growth and transparency. For instance, Ethereum offers fast, secure smart-contract capabilities along with lower transaction fees than Bitcoin. Plus, a crypto wallet enables secure storage while also simplifying tax record keeping by keeping transaction histories consolidated in one place. The best place to buy Ethereum pairs direct access to Ethereum with efficient integrated wallet tools, offering control over private keys and support for accurate, CARF-aligned reporting. This approach gives users more control while also simplifying the reporting process.

Individuals using UK-registered platforms will be asked to provide basic identifying details such as name, date of birth, address, and for UK residents, National Insurance or Unique Taxpayer Reference numbers. Providers must also record details of crypto transactions, including asset type, transaction value, quantity, and the nature of each transfer.

Once these records are submitted, HMRC will cross-reference the information to identify investors who may have omitted crypto profits from their tax returns. Jonathan Athow, HMRC’s director general for customer strategy and tax design, emphasised that this is “not a new tax” but “new reporting requirements to help people get their tax affairs right”.

From January 2026, individuals who refuse or neglect to supply required information risk a £300 fine, while providers failing in their duties could also receive a £300 penalty per user. HMRC warns this crackdown is part of its wider efforts to recover funds lost to online tax avoidance, including earlier moves targeting Airbnb or second-hand goods platforms.

This aligns with HMRC’s broader fiscal drive. The Treasury estimates that CARF could yield hundreds of millions in additional revenue by 2030, part of measures intended to support public services such as the NHS and policing.

Crypto investors in Wales must act ahead of the January deadline. They should check their crypto platforms to ensure they are UK-registered and CARF-ready, using gov.uk to verify whether the site is on HMRC’s approved list. They should prepare documentation such as National Insurance numbers, proof of address, and transaction records so platforms can collect accurate user data.

Likewise, they must also ensure tax compliance, reporting crypto gains exceeding the annual Capital Gains Tax allowance, which is currently £3,000. Profits may attract 18% or 24% CGT based on income band, and income from mining, staking, airdrops, or lending may incur Income Tax and National Insurance.

Tax specialists also recommend reconciling transaction records with exchange export data now to avoid year-end backlogs. Using crypto-specific tax software can help automate gain/loss calculations under UK rules, easing compliance under CARF. Investors should also assess if past undeclared crypto activity may warrant voluntary disclosure through HMRC’s digital disclosure service.

They can use HMRC’s crypto-asset disclosure service or self-assessment portal if unsure of their obligations. James Murray, Exchequer Secretary to the Treasury, noted that the framework “ensures tax dodgers have nowhere to hide, helping raise the revenue needed to fund our nurses, police, and other vital public services”.

From January 2026, Wales-based crypto-holders must contend with strengthened reporting mechanisms that could significantly impact how digital assets are managed. There is a clear message being sent that investors must meet their reporting responsibilities. Those who act now by organising documents, using compliant platforms, and maintaining transparent records will find the transition smoother and avoid punitive penalties.

If you’re preparing to meet the CARF requirements, it’s a good idea to check gov.uk’s guidance on cryptoasset reporting or consult a tax professional. With time to act, Wales’s crypto community can embrace both innovation and compliance, securing funds wisely and transparently in the months ahead.

Entertainment

Community film season launches at Torch Theatre with audience-picked programme

Published

11 hours ago

February 5, 2026

Tom Sinclair

Grant from Ffilm Cymru Wales helps bring affordable independent cinema to Pembrokeshire

A SEASON of independent films chosen by local audiences is coming to Milford Haven this spring, as the Torch Theatre hosts a special programme designed to celebrate bold storytelling and community cinema.

Running from February through to mid-April, the Community Choices season has been made possible thanks to Wales-wide grant funding from Ffilm Cymru Wales. The scheme supports independent exhibitors to bring diverse and inspiring films to screens across the country.

At the Torch, audiences were invited to take part in programming workshops to help select the titles themselves. The final line-up reflects a mix of Welsh-language work, environmentally themed films and stories that break down social and economic barriers, ensuring something for all tastes.

Chelsey Gillard, the theatre’s Artistic Director, said: “We asked you, the people of Pembrokeshire, what films you wanted to see at the Torch – and we listened. There’s a terrific variety in this season, from family favourites to powerful dramas. We’re very grateful to Ffilm Cymru Wales for the funding that allows us to bring these wonderful films to the big screen, and we look forward to giving everyone a warm Torch welcome.”

The programme opens with Mr Burton on Sunday, February 8 at 4:15pm, followed by Flow on Tuesday, February 17 at 4:45pm. Fantastic Mr Fox screens on February 19 at 4:45pm, with Moonlight closing the month on Friday, February 20 at 6:15pm.

March’s line-up includes Born Free on March 4 at 2:15pm, Earth on March 12 at 11:00am, Sinners on March 15 at 7:00pm, Booksmart on March 22 at 2:00pm, and Gwledd (The Feast) on March 27 at 8:00pm.

The season continues into April with I Swear on April 2 at 2:00pm, One Battle After Another on April 5 at 4:00pm, and This is Spinal Tap on April 12 at 4:00pm, bringing the Community Choices series to a close.

All tickets are priced at £4 and include a free tea or coffee, helping to keep the screenings affordable and accessible for everyone.

For tickets and full details, visit the Torch Theatre website or call the box office on 01646 695267.

Entertainment

One Night in Dublin returns to the Torch with a brand-new show

Published

2 days ago

February 3, 2026

Tom Sinclair

ONE NIGHT IN DUBLIN is heading back to the stage at the Torch Theatre with a lively new production fronted by renowned Irish singer Danny Muldoon.

Tickets are already selling fast for the feel-good celebration of Irish music, which promises two hours of songs, stories and plenty of craic.

Backed by an award-winning five-piece band, Muldoon leads audiences through a packed set of sing-along favourites including Galway Girl, Tell Me Ma, The Irish Rover, Dirty Old Town, Whiskey in the Jar, The Wild Rover and The Galway Shawl, along with many more well-loved classics.

The show recreates the atmosphere of a bustling Dublin pub, complete with fiddle, whistle, guitars, banjo, bodhrán, accordion and driving drums, transporting the audience straight into “Murphy’s Tavern” for an unforgettable night of live entertainment.

Fans can also expect hits from Irish legends including The Pogues, The Saw Doctors, The Dubliners, The Fureys, Flogging Molly and Dropkick Murphys.

One Night in Dublin comes to the Torch Theatre on Thursday, March 26 at 7:30pm.

Tickets cost £26.50. Visit the theatre website or call the Box Office on (01646) 695267 to book.

Entertainment

New appeal in search for missing Manic Street Preachers musician

Published

5 days ago

January 31, 2026

Tom Sinclair

Family and charity issue fresh appeal for information about guitarist 31 years on

THIRTY-ONE years after the disappearance of Richey Edwards, a new public appeal has been issued urging anyone with information to come forward.

Edwards, guitarist and lyricist with Manic Street Preachers, vanished on January 31, 1995, in a case that has become one of the most enduring mysteries in British music history.

***Missing for over 30 years: Richey Edwards***

The then 27-year-old was last seen at the Embassy Hotel Bayswater in west London, where he had been staying ahead of a promotional trip to the United States. He checked out of room 561 but never reached his destination.

Despite numerous reported sightings over the years, none have ever been confirmed. Edwards was officially declared presumed dead in 2008, though his family continue to mark the anniversary of his disappearance and keep hope alive that answers may still emerge.

Anniversary appeal

The charity Missing People has released a statement in collaboration with Edwards’ sister Rachel, asking the public to remember the case.

In a social media post, the organisation said: “It is 31 years since Richard went missing, please keep his family in your thoughts.”

They also repeated key identifying details from the time he vanished. Edwards was described as white, around 5ft 7in tall, slim, with brown eyes and a shaved head. He had several distinctive tattoos, including a rose with the words ‘Useless Generation’, the phrase ‘I’ll surf this beach’, and a scar on his lower left arm where he had scratched the words ‘4 REAL’.

Unanswered questions

His car was later found near the Severn Bridge services, close to the Welsh border, prompting widespread searches but yielding no firm clues about what happened next.

At the time of his disappearance, the band were on the brink of international success. Edwards’ intense, literate songwriting and striking image had already made him a defining figure in Welsh rock music. More than three decades later, fans still hold vigils, create murals and share tributes across Wales and beyond.

Police say the case remains open.

Anyone with information is asked to contact the Metropolitan Police Service on 101 or use their online reporting service, quoting reference CONNECT REF 01/764429/24. Missing People also operates a free, confidential helpline on 116 000.