Reform UK's Crypto Tax Cut Plan Sparks Economic Concerns

Reform UK has proposed cutting crypto investor tax by £100M a year. This plan, revealed after the party received £72 million from two crypto billionaires, would reduce capital gains tax to 10% for both high-rate and basic-rate payers.

The proposal is based on HMRC analysis of crypto investors in 2025, which found that £1.38 billion was generated in capital asset gains by 17,600 UK crypto investors. A significant portion of this sum comes from just 240 high-rate taxpayers who made over £1 million a year.

According to The Independent, Reform's tax cuts would save these 240 high-rate taxpayers over £100 million a year and around five times that amount across a five-year parliamentary term.

However, two tax experts told the publication that these cuts may negatively impact the UK economy. Meanwhile, the party's backing by crypto billionaires has raised questions about its independence and potential conflicts of interest.