bitcoinpolicyuk on Nostr: Now available to listen to on ‘On the Record' by Bitcoin Policy UK. This episode ...

Now available to listen to on ‘On the Record' by Bitcoin Policy UK.

This episode covers our response to HMRC’s draft rules on Bitcoin lending and liquidity pools, including where the proposed rules work and where they still need fixing.

Listen here:

https://fountain.fm/episode/xE7boMfZ60B470omrB5K

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BPUK has submitted its response to HMRC’s consultation on the tax treatment of Bitcoin lending and liquidity pools. The proposed no gain, no loss treatment is sensible. Lending Bitcoin and later receiving it back should not be treated as a taxable disposal.

Two things we pushed back on: the “low risk of loss” test doesn't account for BTC's price volatility, and the drafting still doesn't separate native Bitcoin from wrapped BTC, which carries custodial and bridge risk that self-custodied Bitcoin doesn't.

Full submission on the Bitcoin Policy UK website.

https://bitcoinpolicy.uk/blog-1/f/bitcoin-lending-tax-consultation-what-we-told-hmrc

Susie (npub1hwg…03sg)