Entertainment

Welsh crypto investors alerted to stricter tax reporting requirements

Published

8 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

Huw Edwards criticises TV drama about his downfall

Published

11 hours ago

March 23, 2026

Tom Sinclair

FORMER BBC news presenter Huw Edwards has issued a strongly worded statement criticising an upcoming television drama based on his fall from grace.

Edwards, who received a suspended prison sentence after admitting offences relating to indecent images of children, said the programme was produced without properly checking its claims with him.

***Edwards claims those behind the programme failed to verify key elements of the story***

The two-part drama, Power: The Downfall of Huw Edwards, features actor Martin Clunes portraying the former newsreader.

In a statement published in the national press, Edwards claimed those behind the programme failed to verify key elements of the story before filming began. He said producers only approached him for comment after production had already been completed, and even then retained editorial control over any response.

He also questioned whether contributors to the programme had been paid, suggesting the drama may not accurately reflect events.

Edwards said he had already expressed “deep regret and remorse” for his crimes during court proceedings, having pleaded guilty at the earliest opportunity.

He added that he found the offences deeply disturbing and offered a further apology, acknowledging that each image involved a real victim.

The former presenter said he is now working on his own account of the events, although progress has been slow due to ongoing health issues. He has previously spoken about long-term mental illness, which he said had worsened in the period leading up to his offences.

However, he stressed that mental health difficulties should not be used to excuse criminal behaviour.

Edwards rose to prominence as one of the UK’s most recognisable news anchors before his career collapsed following allegations of misconduct and subsequent criminal charges.

In September 2024, he was handed a six-month suspended sentence and placed on the sex offenders register for seven years. He was also ordered to complete a rehabilitation programme.

Responding to his criticism, a spokesperson for Channel 5 said the drama was based on interviews with those involved, including the complainant and journalists who broke the story, as well as court reporting and message evidence.

They added that the programme was produced in line with broadcasting regulations and that allegations featured in the film had been put to Edwards through his legal representatives in advance.

Entertainment

Easter egg trails return to Pembrokeshire as National Trust launches spring events

Published

13 hours ago

March 23, 2026

Tom Sinclair

FAMILIES across Pembrokeshire are being invited to “hop into spring” as Easter egg trails return to National Trust sites across Wales.

The popular seasonal events will take place at thirteen locations nationwide, including Colby Woodland Garden near Amroth, offering a mix of outdoor adventure, nature exploration, and family-friendly challenges.

The National Trust Cymru says the trails are designed to keep children entertained during the Easter holidays while encouraging them to connect with nature, heritage, and the outdoors.

At Colby Woodland Garden, visitors can explore a wooded valley filled with winding paths, streams, and hidden corners while taking part in ten activity stations along the Easter trail.

Organisers say the site’s mix of natural play areas and historic features makes it an ideal location for families looking to enjoy the spring weather.

The Easter egg trail at Colby will run from Thursday (Apr 3) to Sunday (Apr 6), between 10:00am and 3:30pm.

Family-friendly activities

Across Wales, the trails include a wide range of themed activities, from wildlife spotting and creative challenges to physical games and imaginative play.

Each location features around ten activity points, with participants receiving a trail sheet, bunny ears, and a chocolate egg on completion. Vegan and allergy-friendly options are also available.

Normal admission charges apply, although National Trust members can enter for free. The Easter trail costs £3.50 per child.

Spring boost for tourism

The National Trust says the events are part of a wider effort to encourage families to make the most of outdoor spaces as the weather improves.

With gardens in bloom and longer daylight hours, organisers hope the trails will attract visitors from across west Wales and beyond.

A spokesperson said the programme offers “hours of fun, discovery and seasonal adventure for the whole family.”

More information and booking details are available via the National Trust website.

Entertainment

Action-packed Easter fun set for Carew Castle

Published

15 hours ago

March 23, 2026

Tom Sinclair

A HOST of family-friendly adventures will bring Carew Castle to life this Easter, with a packed programme of events running from Saturday (Mar 28) to Sunday (Apr 19).

Set against the dramatic tidal reach and managed by the Pembrokeshire Coast National Park Authority, the historic castle will once again become a hub of activity, offering everything from treasure hunts and medieval weapon displays to science workshops and live storytelling.

Egg hunts and medieval action

A brand-new Great Golden Egg Hunt will challenge children to explore the castle’s winding passageways and hidden corners in search of clues. Running daily from 10:00am to 4:00pm throughout the school holidays, the activity costs £2.50 per child in addition to normal admission.

Young visitors can also step back in time with Hands-On: Weapons and Armour sessions, held daily between 10:30am and 11:30am from Monday (Mar 30) to Sunday (Apr 12). Children will have the chance to handle replica weapons, try on armour, and experience medieval combat demonstrations at no extra cost.

The popular Find the Key! treasure hunt also returns, beginning at 3:00pm from the gatehouse. Running on selected days between Monday (Mar 30) and Sunday (Apr 12), the challenge invites children to track down the correct key to unlock a treasure chest.

Magic, stories and science

Creative youngsters can enjoy Magical Makes with Whimsical Wildlings on Tuesday (Apr 14), Wednesday (Apr 15) and Thursday (Apr 16), with drop-in craft sessions held in the castle’s undercroft from 10:30am to 2:00pm.

Meanwhile, Storymaster’s Quests: Tower of Doooooom! will take place on selected dates in early April, offering an interactive multimedia adventure created by author and games designer Oliver McNeil. The audience will shape the fate of their own hero in a tale filled with dragons, traps and treasure.

Hands-on learning continues with Wild Science sessions, featuring activities such as marine exploration, fossil hunting, owl pellet investigations and beginner bird walks.

Trebuchet returns

One of the highlights of the programme will be the launch of the castle’s giant trebuchet on Tuesday (Mar 31) and Tuesday (Apr 7) at 2:30pm, as the medieval siege engine is brought roaring back into action.

Daisy Hughes, Manager at Carew Castle, said: “Carew is an extraordinary place at any time of year, but Easter gives us the opportunity to really showcase everything it has to offer. The Weapons and Armour sessions in particular are always a favourite – there’s nothing quite like seeing a child’s face when they first lift a medieval sword.”

For full event details, visit the castle’s website.