{"id":53935,"date":"2025-03-24T09:10:25","date_gmt":"2025-03-24T09:10:25","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=53935"},"modified":"2025-03-24T09:10:25","modified_gmt":"2025-03-24T09:10:25","slug":"uk-should-tax-crypto-to-encourage-local-stock-investment-says-cavendish-chair","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=53935","title":{"rendered":"UK Should Tax Crypto To Encourage Local Stock Investment, Says Cavendish Chair"},"content":{"rendered":"

Lisa Gordon, chair of investment bank Cavendish and a <\/span>member of the<\/span> Capital Markets Industry Taskforce, has called for the UK to introduce a tax on cryptocurrency purchases while simultaneously cutting taxes on equities.<\/span><\/p>\n

The aim, she argues, is to encourage younger Britons to invest in local stocks and help boost the <\/span>country\u2019s<\/span> sluggish capital markets.<\/span><\/p>\n

\u201cI<\/span>t should terrify all of us that over half of <\/span>under-45s<\/span> own crypto and no equities,<\/span>\u201d <\/span>Gordon told <\/span>The Times<\/span><\/em> in a <\/span>report published March 23<\/span><\/a>.<\/span> \u201c<\/span>I would love to see stamp duty cut on equities and applied to crypto<\/span>.\u201d<\/span><\/p>\n

EXPLORE:\u00a0<\/span>10 Best AI Crypto Coins to Invest in 2025<\/span><\/a><\/strong><\/p>\n

UK Share Stamp Duty Brings In \u00a33 Billion Annually From London Stock Exchange <\/span>Trades<\/span><\/h2>\n

Currently,<\/span> UK investors pay a 0.5% stamp duty on shares listed on the London Stock Exchange\u2014raising about \u00a33 billion ($3.9 billion) in tax revenue annually.<\/span><\/p>\n

Gordon believes reducing this tax could incentivize more people to invest in domestic companies, potentially triggering a wave of new public listings and invigorating the UK economy.<\/span><\/p>\n

In contrast, she described cryptocurrencies as<\/span> \u201c<\/span>non-productive assets<\/span>\u201d <\/span>that do not contribute to economic growth.<\/span><\/p>\n

\u201cE<\/span>quities provide growth capital to companies that employ people, innovate <\/span>and<\/span> pay corporation tax. That is a social contract. We <\/span>shouldn\u2019t<\/span> be afraid of advocating for that,<\/span>\u201d <\/span>Gordon said.<\/span><\/p>\n

Data from the Financial Conduct Authority (FCA) in late 2023 showed that around 12% of UK adults\u2014approximately 7 million people\u2014owned crypto assets. Most of these owners were under <\/span>the age of<\/span> 55, with younger demographics particularly underrepresented in stock ownership.<\/span><\/p>\n

CRYPTO TAX 2025!<\/p>\n

Now I need to clarify confusion around Crypto included in Undisclosed Income & Tax at 70% being charged. (Which is not even correct number )<\/p>\n

People will mislead, misguide and scare crypto investors\u2026 <\/p>\n

how will the industry grow??! pic.twitter.com\/InKgk2HPyp<\/a><\/p>\n

\u2014 CA Sonu Jain (Crypto Tax Expert) (@TheWeb3CA) February 2, 2025<\/a><\/p>\n\n

Gordon warned that younger people <\/span>were prioritizing<\/span> saving over investing, a trend she believes <\/span>won\u2019t<\/span> support long-term financial stability. <\/span><\/p>\n

Despite favorable tax rules\u2014allowing individuals to invest up to \u00a320,000 annually without paying taxes\u2014only 38% of adults hold shares directly or via accounts, while 70% keep money in savings.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>10 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n

Cost of Living Crisis Forces 44% of UK Adults to Cut Back on Saving and Investing<\/span><\/h2>\n

A follow-up FCA survey revealed the toll of the cost of living crisis, with 44% of adults reducing or halting savings and <\/span>investments,<\/span> and nearly a quarter dipping into their savings or selling assets to cover expenses.<\/span><\/p>\n

Meanwhile, <\/span>London\u2019s<\/span> stock exchange is facing its <\/span>own<\/span> challenges. A January <\/span>report from EY<\/span><\/a> noted only 18 new listings in 2023, compared to 23 in the previous year. <\/span><\/p>\n

Furthermore, 88 companies delisted or moved markets, citing low liquidity and more favorable valuations abroad.<\/span><\/p>\n

Gordon<\/span>, however,<\/span> maintains that the UK remains a<\/span> \u201c<\/span>safe<\/span> haven<\/span>\u201d <\/span>relative to other global markets.<\/span> She contrasted the <\/span>UK\u2019s<\/span> stability with volatility in the U.S., which she attributed to political uncertainty and economic headwinds\u2014issues that have also impacted the crypto market.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>Best New Cryptocurrencies to Invest in 2025<\/span><\/a><\/strong><\/p>\n

\n

Key Takeaways<\/h3>\n

Lisa Gordon wants crypto taxed and equity stamp duty reduced to boost UK stock investment.<\/span> <\/p>\n

Young Britons favor crypto and savings over equities, raising concerns about future financial stability.<\/span> <\/p>\n

The UK market faces low listings and high delistings, despite being seen as a global <\/span>safe<\/span> haven.<\/span> <\/p><\/div>\n

The post UK Should Tax Crypto To Encourage Local Stock Investment, Says Cavendish Chair<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Lisa Gordon, chair of investment bank Cavendish and a member of the Capital Markets Industry Taskforce, has called for the UK to introduce a tax on cryptocurrency purchases while simultaneously cutting taxes on equities. The aim, she argues, is to encourage younger Britons to invest in local stocks and help boost the country\u2019s sluggish capital […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-53935","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/53935"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53935"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/53935\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}