.303 British brass is about 10 times easier to get your hands on, than .30-40 Krag. I would definitely suggest buying .303 brass.
Jaguarxk120 is correct, though: If you want to anger the .30-40 Krag shooters, and snap up all of their incredibly hard to obtain brass... It can be formed into .303 British. However, the Krag case is considerably stronger than the .303. You'll encounter a noticeable decrease in case capacity, and a rapid increase in pressures. Standard .303 load data will have to be reduced slightly, to create new starting loads for the reduced-capacity cases.