Question to the HM Treasury:

To ask Her Majesty's Government what steps they are taking to ensure that the use of blockchain will not deprive HM Treasury of tax that might otherwise be chargeable on more conventional commercial and financial transactions and structures.

HMRC has published guidance setting out its position on the tax treatment of income received from, and charges made in connection with, activities involving Bitcoin and other similar cryptocurrencies, specifically for VAT, Corporation Tax, Income Tax and Capital Gains Tax. The Government continues to keep this area of policy under review.