New tax rules set to hit crypto in 2025 March 28, 2025 As the UK tightens the screws on cryptocurrency taxation, investors and policymakers find themselves at odds over the future of digital finance. From April, around 12 per cent of UK crypto holders could face a hefty 24 per cent capital gains tax (CGT) rate – part of a broader tax squeeze that some argue is [...]
British investor eyes 23andMe rescue as it files for bankrupcy March 28, 2025 A major British investor is exploring a potential rescue plan for 23andMe, after the consumer genetics company filed for bankruptcy protection in the US. Richard Magides, director of Singapore-based Zentree Investments, and one of the firm’s largest shareholders, had been reportedly increasing his take in the firm in the lead up to its Chapter 11 [...]
UK’s tech crown is slipping away March 27, 2025 The UK has slipped behind in the tech arms race, falling behind emerging tech heavyweights. A new global ranking has placed Britain as 13th overall for tech competitiveness, behind nations like Ireland, Singapore and Australia. Meanwhile, perhaps more alarmingly, no G7 nation – the group of the world’s most industrialised nations including the UK – [...]
City of London and EY call for national digital ID March 27, 2025 The UK risks losing its position as a global financial hub unless it rapidly upgrades its digital verification infrastructure. A new study from EY and the City of London Corporation warned that delays in establishing a government-backed, scalable digital verification system (DVS) could cost the UK billions in economic benefits. Meanwhile, it is increasing businesses [...]
NHS software firm fined over highly sensitive data breach March 27, 2025 A major NHS software provider has been fined £3m after a cyber attack exposed the personal data of nearly 80,000 people – including home entry details and medical records for vulnerable patients. The information comissioner’s office (ICO) ruled that Advanced Computer Software Group had “seriously inadequate” security measures, allowing hackers to infiltrate its systems in [...]
UK won’t be ‘pressured’ to scrap digital services tax, says Reeves March 27, 2025 Chancellor Rachel Reeves has insisted that Britain “won’t be pressured” into scrapping its digital services tax (DST), despite mounting pressure from the US. Despite her strong stance, Reeves did not make any formal announcements about the future of the DST in her Spring Statement. Yet, hot on the heels of her speech, she told The [...]
Small businesses let down by Spring Statement March 26, 2025 Chancellor Rachel Reeves delivered the Spring Statement today, promising stability but offering little relief for small businesses (SMEs) struggling with rising costs. Businesses in the sector said they were at “breaking point” ahead of today’s announcement, with one in five SME business owners saying they have been forced out of business within a year, citing [...]
Spring Statement 2025: Reeves bets big on AI and tech March 26, 2025 Chancellor Rachel Reeves delivered her first Spring Statement on Wednesday, setting out an economic plan that could have major implications for the UK’s tech sector as she pivots towards AI. With billions in government cuts, a fresh push for AI-driven efficiencies, and no new tax hikes, the statement signalled a shift towards automation as a [...]
Evoke sinks as William Hill owner’s losses triple on restructuring costs March 26, 2025 Evoke shares fell 17.3 per cent to 59.05p on Wednesday, as the William Hill owner reported a full year loss of £191.4m. The figure was almost triple the loss reported for 2023, amid rising restructuring and financial costs. Despite three per cent revenue growth to £1.75bn and adjusted earnings before interest, taxes, depreciation, and amortisation [...]
Labour’s attempt to use AI to power budget cuts is damaging. Here’s why March 26, 2025 The UK government is beginning to introduce AI tools for deep research, framing the technology as a tool to reduce costs and improve efficiency. Bank of England governor Andrew Bailey announced on Tuesday that Rachel Reeves needs AI to ‘move the needle’ on economic growth. Yet, tying AI to Reeves’ budget cuts risks discouraging its [...]
