How Reform’s crypto tax cuts would benefit a small group of millionaires

• Analysis of HMRC data reveals Reform UK's proposed tax cuts on cryptocurrency gains would hand the wealthiest investors over £100m a year in tax relief.
• Reform UK plans to cut capital gains tax on crypto assets to a flat 10 per cent, down from the current 24 per cent higher rate.
• HMRC figures show around £100m of the tax breaks would benefit a group of just 240 crypto millionaires who made £717m in gains in 2024/25.
• The tax proposal follows £72m in recent donations to Nigel Farage's party from crypto billionaires Christopher Harborne and Ben Delo.
• Tax experts and the Labour Party have criticised the plan, warning there is no economic justification for treating crypto assets more leniently than productive assets.

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Reform to hand crypto investors hundreds of millions in tax breaks