Reform UK proposes crypto tax cuts worth £100M a year for top investors
Reform UK plans to cut crypto capital gains tax to 10%
Reform UK is reportedly planning to reduce the capital gains tax for cryptocurrency investors to a flat rate of 10%. This change would apply to all taxpayers, replacing the current rates of 24% for high earners and 18% for basic rate taxpayers.
The proposal was revealed days after the party received significant financial support from two prominent figures in the crypto industry. According to reports, the tax cuts would save the top 240 high-earning crypto investors more than £100 million annually.
Key figures behind the proposed tax relief
- Capital gains tax would be reduced to 10% for all crypto investors.
- In 2025, 17,600 UK crypto investors generated £1.38 billion in capital asset gains.
- 240 of those investors, who earn over £1 million a year, generated £717 million alone.
- The proposed cuts would save these 240 investors over £100 million a year.
- Over a five-year parliamentary term, the savings for this group could be five times that amount.
Reform UK receives record donations from crypto billionaires
The timing of the tax policy report follows large donations to the party. Tether shareholder Christopher Harborne and former BitMEX executive Ben Delo each gave £36 million to Reform UK last weekend. Byline Times reported that these donations may breach government caps on overseas donors. Harborne's total contributions to Reform UK have reached £61 million, excluding a separate £5 million gift to party leader Nigel Farage that is currently under investigation by the UK’s Parliamentary Standards Commissioner.
Expert concerns and media controversies
Two tax experts told The Independent that the proposed cuts could negatively impact the UK economy. The story also highlighted issues with journalistic standards. When The Sunday Times and The Guardian approached Reform UK for comments on the donations, the party reportedly fed the stories to The Telegraph, which published more sympathetic headlines before the original outlets.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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