By Isaac • July 14, 2026 9:19 am •
Britain has spent years treating some DeFi transfers as if the investor had already cashed out.
HM Revenue & Customs now wants the tax point to follow the economics more closely.
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Draft legislation published Monday would give certain crypto loans and liquidity-pool transactions “no gain, no loss” treatment. The proposal defers Capital Gains Tax when an eligible user enters or exits a qualifying arrangement without making an economic disposal.
The gain stays in the tax system. The bill moves to the point when the investor actually parts with the economic exposure.
That is a substantial change for people who lend tokens, borrow them or supply assets to an automated market maker.
It is also a scoped
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