Entertainment

Welsh crypto investors alerted to stricter tax reporting requirements

Published

11 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

Pembrokeshire soprano to perform at International Eisteddfod

Published

2 days ago

June 22, 2026

Tom Sinclair

HAVERFORDWEST music teacher and soprano soloist Clare Harrison is set to perform at the International Eisteddfod in Llangollen next month.

Clare will sing under the baton of Sir Karl Jenkins on Tuesday, July 7, as part of the World Choir, an auditioned international chorus of singers, for the long-awaited Welsh premiere of his work One World.

She will also perform in a new commission, Greeting the Dawn, by Sam Buttler, and in Peace Child with Wrexham-based chorus NEW Voices.

Clare combines a busy teaching schedule with regular solo performances across Wales and the borders.

Her next Pembrokeshire appearance will be as soloist with Tenby Male Choir at St Mary’s Church, Tenby, on Thursday, July 16.

Caption:

Clare Harrison: The Haverfordwest soprano will perform at the International Eisteddfod in Llangollen.

Entertainment

Harbour Fest to bring music, food and maritime magic to Milford Waterfront

Published

3 days ago

June 21, 2026

Tom Sinclair

Free family festival will celebrate Milford Haven’s seafaring history and coastal community

MILFORD WATERFRONT will burst into life on Saturday, June 27, as the first Harbour Fest sails into town for a day of music, food, family fun and maritime celebration.

The free event will run from 10:00am to 6:00pm at Mackerel Quay and across the waterfront, bringing together local traders, live entertainment, coastal organisations and independent businesses for a packed day beside the water.

Organisers say the festival will celebrate everything that makes Milford Haven special, from its seafaring history and working harbour to its growing reputation as a destination for food, shopping, culture and family days out.

Visitors will be able to browse stalls from local makers and producers, enjoy street food and live performances, and explore a Marine Zone featuring organisations involved in sea safety, marine conservation and coastal life.

The Marine Zone will include Seagrass Network Cymru / Project Seagrass, Pembrokeshire Coastal Forum, Mid and West Wales Fire and Rescue Service, Dyfed-Powys Police, NCI Wooltack Point, Rudders Marine Training, RNLI Milford Haven and RNLI Angle Lifeboat.

RNLI Angle Lifeboat is expected to be based on the Mackerel Stage, while the Sea Cadets will be giving rope-tying displays at Milford Haven Museum, where craft activities will also be taking place.

Live entertainment will run throughout the day, with performances from Tom & Abz, Will Scott, Ryan Bristow, Milford Haven Town Band, Kyle Kirkhouse and ShantyJacs Sea Shanties.

Businesses across the waterfront are also joining in. All Pets Vet Care will hold a family-friendly open day with a bouncy castle, treasure hunts, quizzes, craft activities and behind-the-scenes tours. Aurora Artisan Crafts will host vocal performances, Biffy’s Bar & Restaurant will feature solo acoustic music from Laurence Lewis, and Martha’s Vineyard will offer seafood street food with live music from Ryan Bristow and Steve Bartram.

At Tŷ Milford Waterfront’s outdoor plaza there will be face painting, children’s activities, pop-up artists and an afternoon DJ set, while Phoenix Bowl and Pirate Pete’s Adventure Play will have inflatables and glitter tattoos outside.

The Waterfront Gallery will host introduction to felt-making workshops with textile artist Carole Fletcher, giving participants the chance to create a woollen felt flower pin brooch or phone/glasses case. The workshops start at 10:30am, 1:00pm and 3:30pm and cost £5 per person.

A wide range of traders will also be attending, including 5th Flock Spirits Co, Cinnamon Grove Distillery, Cwm Deri Wines & Liqueurs, Ferncraft, Get Loaded, J.J. Pottery, Major Nuts, Orange Garden Design, Pembrokeshire Chilli Farm, Pembrokeshire Gold, Pembrokeshire Lottery, Plumstone Welshcakes and SlateArtSJ.

With music drifting across the marina, food stalls lining the waterfront and lifeboats, sea safety teams and coastal groups adding a strong maritime flavour, Harbour Fest is expected to bring a lively summer atmosphere to one of Pembrokeshire’s best-known waterside destinations.

Organisers say the event is suitable for families, friends and visitors of all ages, with plenty to see and do throughout the day.

Photo caption: Harbour Fest will take place at Milford Waterfront on Saturday, June 27 (Pic: Milford Waterfront).

Entertainment

Filming begins on new Welsh BBC comedy starring Ruth Jones and Steve Speirs

Published

3 days ago

June 21, 2026

Tom Sinclair

A HEARTWARMING new Welsh BBC comedy co-written by Ruth Jones and Steve Speirs has started filming in South Wales.

Better Later, a six-part series for BBC iPlayer, BBC One and BBC One Wales, will explore the unexpected joys of an unlikely friendship.

The comedy stars Jones and Speirs as two people who meet at a knee trauma clinic. Retired teacher Clive, played by Speirs, is 60, widowed and facing a new chapter in life. Shelley Anne, played by Jones, is a 55-year-old environmental health officer going through a bitter divorce.

The series is being filmed in and around South Wales, including the Brecon Beacons, and is set in the fictional village of Brynfach.

Ruth Jones said: “In a funny way this show has been 35 years in the making, which is when I first met Steve. It’s not that we’re slow writers, it’s just that we’ve been up to other things. It’s fantastic to be back in front of the camera with him again.”

Steve Speirs said: “Our first time acting together for quite a long time. Ruth makes me laugh more than anyone and I’m a terrible giggler. This could be a long shoot.”

Better Later has been commissioned by BBC Cymru Wales and BBC Comedy and is being made by Tidy Productions in association with BBC Studios Comedy, with support from Creative Wales.

The series was commissioned by Nick Andrews, Head of Commissioning at BBC Cymru Wales, and Jon Petrie, Director of Comedy at the BBC. The commissioning editors are Emma Lawson and Paul Forde.

Executive producers are Sarah Fraser for Tidy Productions and Josh Cole for BBC Studios Comedy. The producer is Owen Bell and the director is Simon Massey.

Transmission details will be announced in due course.