Reform UK wants to cut crypto investor tax by £100M a year, report
Reform's tax cuts would reportedly reduce capital gains tax for high and basic-rate taxpayers from 18% to just 10%.
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Reform's tax cuts would reportedly reduce capital gains tax for high and basic-rate taxpayers from 18% to just 10%.
Read more (2 min) →The UK government sent more than 81,000 warning letters in the past financial year to crypto holders it suspects of owing unpaid taxes.
From January, UK crypto firms will hand HMRC names, dates of birth, addresses, countries of residence, and National Insurance Numbers.
HMRC has reminded UK crypto traders to pay taxes when they receive crypto as part of a trade or via income from crypto-related activities.
The UK gov't wants to know how many times a crypto asset has been transacted, how much it cost, what exchanges were used, and any profits.
The UK's 40% tax rate means that £100,000 in inherited crypto could still incur a £40,000 bill, even if bereaved families can never spend it.