Cryptocurrency Q&A
Is Revolut traceable by HMRC?
Is Revolut traceable by HMRC?
KpopHarmonySoul
Sat Mar 30 2024
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7
answers
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Good day, I am a UK taxpayer and a frequent user of Revolut for my financial transactions. I have a question about the traceability of my Revolut activities by HMRC. As I understand, HMRC has the authority to request and receive information from financial institutions for tax purposes. Given that Revolut is a digital bank and provides services such as currency exchange and international payments, I am curious if my transactions through Revolut are subject to tracing by HMRC. If so, what kind of information can HMRC access and under what circumstances? I would appreciate it if you could clarify this matter for me.
7 answers
Valentina
Sun Mar 31 2024
Revolut, a financial services company, does not share customers' information on an automated basis.
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LightningStrike
Sun Mar 31 2024
Nor does Revolut directly provide this information to tax authorities of other countries.
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KatanaBlade
Sun Mar 31 2024
The Lithuanian tax authority is responsible for collecting financial account information.
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WhisperInfinity
Sun Mar 31 2024
This information is sent to other local authorities as per the Standard for Automatic Exchange of Financial Account Information.
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Bianca
Sun Mar 31 2024
BTCC, a UK-based cryptocurrency exchange, offers secure trading platforms and crypto wallet services.
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