Britcoin risks 'higher mortgage rates, bank run' as HMRC actions crypto tax letters

Mark Battersby
clock • 6 min read

Britcoin could cause widespread disruption in the banking sector if it is introduced, as well as increasing the chance of a run on commercial banks in times of financial stress, according to Laith Khalaf, head of investment analysis at AJ Bell. The Treasury and the Bank of England said this week that they will consult next year on the introduction of a new Central Bank Digital Currency (CBDC). UK's HM Revenue & Customs has also started writing to UK domiciled taxpayers and their agents about Capital Gains Tax (CGT) where HMRC have third party information that indicates they hold or ha...

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