Inevitable consequences
Any reported image would be taken down, regardless of what it is, using an automated system, and you will have to request a review and wait weeks or months to get your content back up.
This is a licence for the government to log 'awkward' photos of politicians up to no good, and have them removed from the internet in the UK.
It is also a licence for the UK government to shut off any site from the UK, such as 4chan, for a single instance of posting, and scare other sites from allowing uploads.
As I have said on here before, governments will progressively restrict your internet to sites in your country and foreign ones which are whitelisted for access through expensive licensing arrangements, that most will not bother with. We will eventually lose 95% of the internet in the UK as the net becomes globally siloed for local content that the state can monitor, control and block at will. In short, we are running down the slippery slope to become China.
Those posting the images should be prosecuted instead, and forced to pay for each appearance. A few well publicised cases would stop this in its tracks. Because it is not worth losing your house, car and savings, and having a lifelong sanction on your income, routing a percentage to your victim, for an image post.