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