HM Revenue & Customs (HMRC) has assigned a dedicated compliance manager to every billionaire it has identified as having a UK tax connection, including people who do not file tax returns in Britain. The tax authority has not disclosed the number of people on the register or their names. Further details are expected in a high-net-worth compliance programme due to be published later in 2026.
The initiative is focused not only on how many billionaires are covered, but also on how HMRC identifies cross-border wealth and the entities linked to it. As crypto platforms begin submitting customer data to tax authorities from 2027, digital-asset wealth is set to become part of a broader tax-information framework.
HMRC maps billionaires and linked entities
The National Audit Office said last year that HMRC had assigned compliance managers to about 15,000 high-net-worth taxpayers, representing roughly 2% of the group. Assignments were primarily based on tax risk rather than personal wealth alone.
The UK Parliament’s cross-party Public Accounts Committee has previously said that, although the number of billionaires in the UK is relatively small, the wealth and tax liabilities involved are substantial. HMRC has nevertheless been unable to determine how much tax billionaires collectively pay. That gap helped drive the creation of the new register.
HMRC drew on its own tax records, publicly available information and data supplied by other government bodies. Each compliance manager is responsible for examining one wealthy individual and the companies, trusts and other legal entities connected to them. The approach is intended to link personal wealth with assets that may be spread across complex structures.
HMRC has not said whether the register is limited to UK tax residents, nor has it published a specific wealth threshold.
Crypto assets are not a separate basis for inclusion
HMRC has not confirmed whether the register includes billionaires whose wealth is held partly or primarily in crypto assets. From a tax-administration perspective, the asset class itself—tokens, property or another form of wealth—does not necessarily determine whether an individual falls within high-net-worth compliance management.
The bigger change may come from the data available to the tax authority. The UK’s Crypto-Asset Reporting Framework (CARF) took effect in January 2026. Under the international standard, platforms must provide tax authorities with customer and transaction information. UK rules will require exchanges to begin transmitting data to HMRC in 2027, potentially expanding the authority’s visibility into crypto holdings and activity.
HMRC already holds some information on crypto-asset income. UK government data shows that taxpayers reported about £1.38 billion in crypto-asset gains during the 2024-25 tax year, covering 17,600 people. Among them, 240 crypto-asset millionaires reported combined gains of approximately £717 million.
HMRC sends more crypto trading reminder letters
During the same tax year, HMRC sent around 65,000 reminder letters to people suspected of trading crypto assets, up from 27,700 the previous year. The letters are generally used to prompt taxpayers to check their transaction records and meet their reporting obligations. Public information does not establish whether every recipient ultimately underpaid tax.
For high-net-worth individuals, the next stage will involve more than bringing personal account information into HMRC’s view. The authority may also be able to cross-check records held by companies, trusts and overseas platforms. For crypto-asset holders, data submitted by exchanges from 2027 could provide a new basis for assessing whether tax returns are complete.
HMRC is expected to publish its high-net-worth compliance programme by the end of 2026. Until then, the size and scope of the register will remain unclear. Exchange customer records submitted under CARF will begin entering HMRC’s data systems the following year, and the authority has not confirmed whether the current register includes crypto-asset billionaires.