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UK Publishes Consultation Responses on Cash and Digital Payments in the New Economy

08 May 2019

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Proposed Changes

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United Kingdom

UK HM Treasury has published a summary of responses to its call for evidence on cash and digital payments in the new economy. The call for evidence was made to better understand the role of cash and digital payments in the new economy, including the role of cash in facilitating tax evasion and money laundering. In this respect, the summary of responses includes suggested options to increase the visibility of cash transactions, as well as how the government could use behavioral insights to reduce the risks around cash and tax non-compliance. The government remains interested in exploring these and other...