The British tax authority (HMRC) is changing the rules for the accounting of crypto lending and liquidity pools.

From April 6, 2027, capital gains tax on these transactions will be deferred until the tokens are disposed of. In particular, borrowed crypto assets will be recorded at market value at the time of the loan. At the same time, any collateral will no longer be recognized as a taxable event. The changes will affect individuals and trustees — in total, about 700,000 people. Under the current rules, tax liabilities arise when cryptocurrency is sold, exchanged, or spent. The new measures are intended to close regulatory gaps and reduce excessive tax burdens on users.