The first HMRC figures on crypto capital gains show 240 people declared more than £1 million each in the 2024 to 2025 tax year, as new international rules prepare to hand customer records from crypto exchanges to the taxman from 2027.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
EY urges junior staff back to the office as AI puts a premium on human skills
EY is urging its junior consultants to return to office working more often, with senior partners arguing that the interpersonal skills that win and keep clients are best learnt in person, and will only become more valuable as artificial intelligence takes over more of the routine technical work.
Young investors trust AI more than TV, radio or influencers, FCA finds
Young investors trust AI investment advice more than television, radio or social media influencers, FCA research finds, yet almost half wrongly believe AI-generated financial information is regulated and a third think compensation schemes would pay out if that guidance proves wrong.
UK business confidence rebounds but firms want policy certainty first
UK business confidence has climbed to 63 per cent following the changes in Government, Barclays’ Q2 Business Prosperity Index shows, with most firms planning to raise investment but calling for clearer policy on tax, skills and digital infrastructure before they commit.
Balcony solar panels reach UK shelves with promise of £110 a year off bills
Plug-in solar panels: Argos becomes the first major UK retailer to stock balcony solar systems, with Amazon, Currys, B&Q and Screwfix expected to follow within weeks, giving flats and rented homes a way to generate their own electricity and shave up to £110 a year off bills.
Applied Nutrition closes in on £1bn valuation after raising guidance for third time this year
Applied Nutrition, the sports supplement maker founded by former Liverpool scaffolder Tom Ryder, has upgraded its sales and profit guidance for the third time this year, with revenue expected to jump 50 per cent to £160 million and the group closing in on a £1 billion stock market valuation.
One of Britain’s oldest family firms to save £250,000 a year as energy scheme opens to forges
Somers Forge, the Black Country maker of parts for naval vessels including nuclear submarines, says it will save up to £250,000 a year after forges were added to the British Industrial Competitiveness Scheme, a change the Confederation of British Metalforming says makes most of its 200 member companies eligible for support.
Burnham signals more energy bills support in budget as price cap rises 4 per cent
Energy bills support will be back on the table at the budget, Andy Burnham has signalled, after Ofgem raised the price cap by 4 per cent from October, taking the typical household bill to £1,723 a year, with analysts at Cornwall Insight forecasting a further 9 per cent rise in January.
OnlyFans owner dividends topped $700m before his death
OnlyFans owner dividends ran past $700 million before Leonid Radvinsky died in March, with accounts at Fenix International, the London company behind the adult subscription site, showing pre-tax profit of $715 million on revenue of close to $1.6 billion and an average headcount of 47.
TikTok UK legal bill tops $1bn as regulators close in
TikTok UK legal costs have climbed above $1 billion after the group increased the sum set aside for court cases and regulatory investigations, and the figure does not yet account for the coming ban on under-16s using social media or Ofcom’s live inquiry into the platform.
National Wealth Fund backs Devon tungsten mine revival with £71m
The taxpayer-backed National Wealth Fund is putting up to £71 million into Tungsten West, the Aim-listed company reviving the Hemerdon tungsten and tin mine in Devon, less than two years after the business warned it might not survive. In return the state takes a 7 per cent stake and an option over half the mine’s tungsten.
Zero-hours contracts crackdown risks closing ‘doors to opportunity’, employers warn
Retailers, hospitality firms and business groups have urged ministers to rethink planned reforms to zero-hours contracts, warning that new guaranteed hours rules could cost employers up to £2.9 billion a year and close off job opportunities for the young people they are meant to help.
British start-up to help America build nuclear-powered cargo ships
A west London start-up has signed a first of its kind agreement with the US Maritime Administration to help build a fleet of nuclear-powered cargo ships. Core Power has raised 200 million dollars from Japanese backers and is targeting first construction of its propulsion systems in 2028.
HMRC checks 45 million PAYE accounts as P800 letters go out
The HMRC PAYE review covers around 45 million accounts, with P800 tax calculation letters already being issued and checks running until November 2026. Overpayments are being dealt with first, but workers claiming refunds across more than one year will now have to request the money themselves.
London’s female founders pass £100m in Start Up Loans
The Start Up Loans London total for female-founded businesses has passed £100m across 10,853 loans, with Hackney, Lewisham and Tottenham the capital’s busiest constituencies, and eligibility now widened to firms trading for up to five years.
