Business

Trump Media & Technology Group (TMTG), the parent company of Truth Social, has announced a groundbreaking partnership with Crypto.com | Derivatives North America (CDNA) to launch the first-ever prediction markets embedded within a social media platform.

The collaboration will enable Truth Social’s users to trade event-based contracts — from elections and interest rate changes to sports outcomes and commodity prices — under the brand “Truth Predict.”

This marks a major step in Trump Media’s diversification beyond social media and streaming into financial technology, cementing its ambitions to become a hybrid media–fintech ecosystem.

“We’re thrilled to become the world’s first publicly traded social media platform to offer users access to prediction markets,” said Devin Nunes, Chairman and CEO of Trump Media.

“For too long, global elites have controlled these markets — with Truth Predict, we’re democratising information and empowering everyday Americans to harness the wisdom of the crowd.”

Truth Predict will allow users to buy and sell contracts tied to real-world outcomes, with prices updating in real time as events unfold — a model similar to established prediction platforms such as Kalshi or Polymarket, but with a key differentiator: direct integration into a social media environment.

Users will be able to discuss, analyse, and trade predictions within the same ecosystem, blurring the lines between social discourse and financial speculation.

Contracts will be offered via CDNA, a CFTC-registered exchange and clearinghouse, ensuring compliance with U.S. federal derivatives regulations. Topics will span politics, economics, markets, and sports, with broader global access planned following U.S. rollout.

Kris Marszalek, Co-Founder and CEO of Crypto.com, said: “Prediction markets are set to become a multi-deca-billion-dollar industry. Partnering with Truth Social brings this technology into the mainstream — uniting community engagement with market sentiment in real time.”

By integrating directly with a regulated U.S. exchange, Trump Media gains a foothold in a rapidly emerging sector where legal clarity has often been elusive. The move comes as regulators — including the Commodity Futures Trading Commission (CFTC) — have begun cautiously approving event-based markets, such as those predicting election outcomes or Federal Reserve rate changes.

Analysts say the partnership could position Truth Social at the intersection of social media, retail finance, and digital assets, a convergence long sought by crypto platforms looking to attract broader participation.

The partnership builds on Trump Media’s earlier collaboration with Crypto.com, including plans to launch a CRO rewards system across Truth Social and Truth+, as well as to establish Trump Media Group CRO Strategy, Inc., a digital asset treasury entity.

Truth users who hold “Truth Gems” — tokens earned for engagement on the platform — will be able to convert them into Cronos (CRO) cryptocurrency to buy Truth Predict contracts, further integrating the platform into the digital asset economy.

Industry observers see the move as both opportunistic and strategic, particularly amid growing retail appetite for gamified trading and community-based finance.

“Truth Predict taps into the psychology of the modern investor,” said Angela Jackson, partner at fintech venture firm Remark Capital.
“People already debate markets, politics, and sports online — now they can monetise that sentiment in real time.”

The prediction markets initiative reflects Trump Media’s push to expand beyond political content into mainstream entertainment, streaming, and financial services.

The company reported $3 billion in financial assets at the end of Q2 2025 and its first quarter of positive operating cash flow since going public last year — a financial footing executives say allows the group to explore “transformative” technology verticals.

For Trump Media, the integration of financial tools into a politically charged platform could also signal a bid to attract a new class of active retail users, including retail traders and cryptocurrency enthusiasts.

Prediction markets — where traders buy and sell contracts based on the likelihood of future events — have long existed on the margins of finance. But with the rise of blockchain infrastructure, they are now gaining institutional legitimacy.

Crypto-native platforms such as Polymarket have seen surging user growth, while regulated incumbents like Kalshi have secured federal approval to offer election-related contracts.

The Truth Predict integration may accelerate mainstream adoption by embedding such markets into a familiar, social interface.

Still, analysts caution that prediction markets remain politically and legally sensitive, particularly in the U.S., where regulators have historically restricted wagering on political outcomes.

“Trump Media is venturing into a highly innovative but equally contentious area,” said Michael Saunders, senior analyst at Horizon Advisory. “The regulatory pathway is narrow, but if executed within CFTC guidelines, it could set a global precedent.”

The rollout will begin with beta testing on Truth Social in the coming months, followed by a full U.S. launch and a global expansion phase, pending international regulatory approvals.

For Trump Media, the gamble is clear: transform Truth Social from a politically charged niche platform into a financially engaged, interactive digital ecosystem.

And if the move succeeds, “Truth Predict” could mark the moment prediction markets stepped from the financial fringe into the social mainstream.

Read more:
Trump Media to launch world’s first social media prediction market in deal with Crypto.com

Today, automation is gradually taking over more and more manual tasks. But digital systems that recognize emotional intelligence, adaptability, and creativity help people perform at optimal levels.

As the rhythm of work accelerates, human-centered technology becomes the stabilizing force that helps teams grow without losing connection.

Tools that reflect how people think and act create trust between employees and technology. When you experience software that feels intuitive, you notice how it anticipates your needs rather than dictating rigid workflows.

Smart systems that prioritize emotional and cognitive balance will define the next generation of work. They track productivity as well as support individual motivation and well-being. Leaders who value such designs invest in sustainable energy, focus, and fulfillment within their teams.

How AI Reinvents Human Resources

Workplace relationships evolve as AI develops better ways to connect people. Many HR teams now experiment with intelligent chat interfaces that streamline communication between departments and employees.

An AI chatbot for HR teams simplifies onboarding, answers questions instantly, and provides support without long waiting periods.

Every employee benefits when digital tools reduce frustration instead of adding complexity. A chatbot programmed with fairness and empathy promotes consistency in tone and accuracy in guidance. That experience reflects respect for time and dignity, two core elements of a healthy work environment.

AI systems can track feedback patterns, identify recurring concerns, and offer insights to leaders for improvement. When you integrate human awareness with data processing, you create an HR function that learns from employee needs.

The Growth of Employee-Centered Technology

Workers today expect companies to treat well-being as a measurable priority. Technology that supports employee-first healthcare solutions creates a better workplace.

Personalized digital care platforms can analyze trends, predict needs, and connect individuals with the right resources at the right moment. You gain faster access to medical support, mental health guidance, and preventive care. When organizations adopt systems that value holistic health, they witness improved retention and reduced burnout.

Businesses that implement these tools also show that leadership understands people need more than compensation to stay motivated. That emotional safety builds stronger communication and long-term stability inside every company.

Intelligent Systems that Adapt to You

Standardized software no longer satisfies diverse employee needs. Companies now seek internal applications that adapt to employee needs instead of forcing uniform behaviors.

These systems observe workflow habits and personalize layouts, notifications, and task priorities. By adjusting to individual work patterns, they help people focus on outcomes rather than processes.

For instance, a login system that learns how you like to structure projects reduces fatigue. When technology adjusts to you, daily routines feel less mechanical.

Adaptive internal systems improve the experience for people with different skill levels or accessibility requirements.. This kind of customization respects every worker’s individuality.

Building Trust

Trust grows when employees feel technology respects privacy and intention. Human-centered design considers transparency a central value. When systems clearly explain how data is collected and used, people feel more secure about their work.

Collaboration improves when software encourages open dialogue rather than hidden automation. Thus, teams can understand how their systems operate, experience less anxiety, and focus more on creative work.

‘Organizations that prioritize ethical design also attract talent that values responsibility. Skilled professionals seek environments where technology reflects fairness and accountability. A balanced system strengthens both organizational performance and individual satisfaction.

Conclusion: The Human Core of Innovation

The next wave of technological growth depends on empathy and intelligence. Tools that prioritize people will change how work develops.

Artificial intelligence will continue changing how employees interact with systems and one another. An AI chatbot for HR teams or internal applications that adapts to employee needs no longer represents distant experiments.

Read more:
The Future of Work: Why Human-Centered Tech Is the Next Big Investment

A new report by the Autonomy Institute has found that companies donating to Labour have been awarded nearly £138m in government contracts during the party’s first year in office.

The findings, which echo similar patterns under the previous Conservative administration, have reignited concerns over political transparency and procurement integrity, with anti-corruption campaigners calling for reforms to prevent companies that donate to political parties from bidding for public contracts.

The report identified eight companies that donated a combined £580,000 to Labour between July 2024 and June 2025, before receiving contracts totalling £137.9m within two years of their donation.

Looking beyond the current administration, the Autonomy Institute said the practice of corporate donors winning public contracts was a cross-party issue, affecting both Labour and Conservative governments.

It found that since 2001, 25 companies donating to Labour have been awarded contracts worth £796m, while Conservative-linked firms have collectively received contracts valued at £25.4bn — much of it during the pandemic, including deals with Randox Laboratories and Globus Shetland.

Across both parties, the study identified 125 companies that had donated £30.15m to political parties and were subsequently awarded £28.8bn in central government contracts, with £2.5bn of those awarded within two years of the donation.

Dr Susan Hawley, Executive Director at Spotlight on Corruption, said the findings exposed “systemic weaknesses” in how the UK handles conflicts of interest.

“There is nothing more damaging to public trust than the perception that those with privileged access to power get privileged access to taxpayer-funded contracts,” she said.
“These findings show a systemic problem. We need systemic solutions — including screening out political donors from the procurement process and considering a ban on directors of such companies making political donations.”

Dr Will Stronge, Chief Executive of the Autonomy Institute, said: “When the same corporations that bankroll political parties also win government contracts, the line between public service and private influence becomes dangerously blurred. The only way to alleviate concerns is a ban on political donors receiving government contracts.”

Among the companies named in the report were:
• Baringa Partners, which donated £30,061 to Labour in January 2024 and has since received £35.2m in government contracts.
• Grant Thornton, which donated £81,658 between March 2023 and July 2024 and subsequently won £6.5m worth of contracts.

The report also identified four of the government’s 39 “strategic suppliers” — firms on which the public sector is significantly dependent — that have donated to political parties and later received major contracts: Fujitsu, KPMG, Microsoft and PwC.

Both Microsoft and PwC were found to have made donations under both Labour and Conservative governments.

A government spokesperson said: “All government contracts are awarded fairly and transparently, in line with the Public Contracts Regulations 2015. All decisions are rigorously scrutinised to ensure best value for the taxpayer.”

A Conservative Party spokesperson said all donations were fully compliant with Electoral Commission rules and dismissed suggestions of impropriety.

“As the National Audit Office and Cabinet Office have made clear, ministers properly declared their interests and had no involvement in procurement decisions. Donations have never influenced the awarding of government contracts.”

Before the 2024 election, Labour had been among the most vocal critics of such practices, condemning contracts awarded to Conservative-linked companies during the pandemic without open tender.

Then-Shadow Chancellor Rachel Reeves said at the time: “The British public are understandably angry that so much public money ended up with the friends and donors of the Tory party.”

PwC said it only provided “non-cash support” in the form of limited technical assistance to major political parties under strict governance arrangements and denied having any political affiliation.

KPMG declined to comment.

Other companies identified by the report were contacted but did not respond.

The study included the projected future value of multi-year contracts, meaning not all of the £28.8bn cited has yet been spent. It also focused solely on corporate donors, not individuals contributing in a personal capacity.

The findings are likely to intensify scrutiny of Labour’s corporate fundraising activities and put pressure on the government to tighten procurement rules and enhance public transparency around political donations.

Read more:
Companies that donated to Labour awarded £138m in government contracts, report claims

LinkedIn is facing mounting calls to suspend the account of Sam Wall, a 55-year-old digital marketing strategist from Cheadle, who was jailed for 28 months on Friday after pleading guilty to stalking, harassment and malicious communication.

Despite her conviction and a court-issued restraining order, Wall’s LinkedIn Premium profile — with nearly 27,000 followers — remained active at the time of writing.

The Crown Court in Preston heard that Wall’s “prolonged, deliberate and calculated” campaign targeted motivational speaker Brad Burton and tech entrepreneur Naomi Timperley (pictured outside Preston Crown Court).

Judge Usher told Wall: “Your name has become synonymous with online stalking.”

Both victims, who attended court for the sentencing, have condemned LinkedIn’s inaction, accusing the platform of failing to protect users from harassment even after a conviction.

Brad Burton, a business coach and author with a large online following, wrote on LinkedIn shortly after the hearing: “LinkedIn management, hold your heads in shame. Disgusting. This case could have ended with a tragic outcome. Do something, before you have to do something.”

Despite Burton’s public appeals, Wall’s LinkedIn and private Instagram account (with more than 4,500 followers) remained active over the weekend, prompting outrage from the professional networking site’s users.

Hundreds of users have joined the call for LinkedIn to remove Wall’s account, with many criticising the platform’s apparent reluctance to enforce its own harassment policies.

Megan Codling, PR and marketing consultant, asked: “What is LinkedIn doing about it?”

Caroline England, tech entrepreneur and founder of Featherbed Tales, added: “LinkedIn, why have you not removed this account despite repeated requests and a conviction?”

Julian Wellings, video producer, said: “I remain incredulous that the platform has failed to act. They must do better.”

Other LinkedIn users described the situation as “disgraceful” and called on LinkedIn and parent company Microsoft to make an immediate statement.

Corporate photographer Arwyn Bailey said: “You say that you treat bullying and harassment seriously. Well, now is the time to step up. You’ve allowed one person to destroy lives — the knock-on effect on families and businesses is immeasurable.”

Burton has since reported further incidents of harassment on the platform, claiming that another LinkedIn user – Jackie Robinson – had begun continuing Wall’s campaign less than 24 hours after her sentencing.

In a detailed post shared on Monday, he said evidence had been submitted to Lancashire Police and LinkedIn’s safety team, and that his legal representatives and local MP Gideon Amos OBE had been notified.

“If we can’t get this dealt with sensibly today,” Burton wrote, “this case proves how insidiously rigged this platform is for an ordinary person facing a campaign of legally proven lies.

I’d rather be spending my Monday focused on healing, not fighting — again.”

He shared links to further posts and videos alleging continued stalking behaviour under the hashtag #Gangstalking.

The case has reignited concerns over LinkedIn’s moderation policies and its response to harassment on what is often perceived as the most “professional” of social networks.

While Meta, X (formerly Twitter) and TikTok have faced widespread criticism for handling of abuse and misinformation, LinkedIn has largely avoided similar controversy — until now.

Business Matters has contacted LinkedIn for comment.

Read more:
Pressure mounts on LinkedIn to close account of jailed stalker Sam Wall

eBay UK has unveiled the winners of its 2025 eBay Top Seller Awards, celebrating the small businesses and entrepreneurs powering the UK’s growth story across fashion, technology, sustainability and community enterprise.

Now in its ninth year, the awards honour outstanding independent retailers and innovators trading on eBay’s marketplace, highlighting their impact on both the domestic economy and global exports.

With nearly 134 million customers worldwide, eBay remains one of the largest enablers of small business growth, connecting thousands of UK sellers with international buyers.

The 2025 eBay Top Seller Award winners include:
• Lifetime Achievement Award: Music Magpie, Manchester – Refurbished electronics and second-hand media retailer.
• Above & Beyond Award: Curated By Kate (Kaly Limited), Reading – Independent fashion retailer specialising in pre-loved clothing.
• Business Growth Award: Cannon’s Camera House, London – Specialist in refurbished cameras, lenses and accessories.
• eBay Pioneer Award: RCScrapyard, Sussex – Restores and resells radio-controlled models.
• Community Contribution Award: Retro Recycling, Essex – Vintage menswear and homeware retailer.
• Social Impact Award: Forget Me Not Children’s Hospice, Huddersfield – Charity supporting families of children with life-shortening conditions.
• Start-Up Award: tcgx ltd, Yorkshire – Fast-growing collectibles retailer specialising in Pokémon and Digimon trading cards.
• Judges’ Award: Sofab Sports, Gloucester – Authentic sportswear and fashion retailer.

Each winner receives £10,000 in funding, bespoke business mentoring, and a feature in eBay’s Seller Stories video series. They will also be honoured at an exclusive celebration event in Mayfair, London.

The Top Seller Awards are part of eBay’s wider mission to empower UK entrepreneurs with tools, training and funding to grow sustainably.

Among eBay’s key initiatives for sellers:
• Seller Capital – providing fast, flexible funding to help SMEs scale.
• Pro Trader Plus – one-to-one guidance and tailored support for established sellers expanding their operations.
• AI Activate – free access to AI-driven tools to enhance listings, optimise visibility and automate workflows.

The awards showcase how digital marketplaces are enabling growth for UK SMEs amid economic uncertainty, offering global reach without traditional barriers to entry.

Reflecting on this year’s winners, eBay UK said the awards demonstrated the creativity, adaptability and resilience that define Britain’s entrepreneurial landscape.

“These incredible small businesses are redefining what it means to be an entrepreneur in 2025,” said a spokesperson. “They combine innovation with purpose — from sustainable retail and digital innovation to community-led initiatives — and are helping to power the UK’s economic recovery.”

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Britain’s brightest small businesses honoured at 2025 eBay Top Seller Awards

Apple has lost a major competition case in the UK after the Competition Appeal Tribunal (CAT) ruled that the company abused its dominant position in the digital app marketplace by overcharging millions of iPhone and iPad users for apps and in-app purchases.

The tribunal found in favour of Dr Rachael Kent, a senior lecturer at King’s College London, who brought the collective action lawsuit Kent v Apple on behalf of nearly 36 million UK consumers and businesses. The CAT concluded that Apple’s practices led to excessive and unfair pricing over a ten-year period.

The court ruled that Apple had “imposed exclusionary practices” and charged “excessive and unfair fees” on App Store purchases and subscriptions, violating competition law.

Dr Kent’s case marks a significant legal milestone as the first successful collective action of its kind under the UK’s consumer competition framework — and makes her the first female Class Representative in a UK collective claim.

The ruling means that anyone who purchased paid apps, digital subscriptions or in-app content through the Apple App Store since 1 October 2015 could be entitled to compensation. The total payout is estimated at up to £1.5 billion.

“This is a landmark victory – not only for App Store users, but for anyone who has ever felt powerless against a global tech giant,” said Dr Kent.

“The tribunal has confirmed that Apple has been unlawfully overcharging users for more than ten years. Those inflated fees have added up to billions for the world’s richest company, and less choice and innovation for everyone else.”

She added that the decision proved the UK’s collective action regime is working to “empower ordinary people and small businesses to hold even the most powerful corporations to account.”

Typically, Apple charges a 30% commission on app purchases, subscriptions and digital content sold through its App Store — a system critics say limits competition by forcing developers to use Apple’s in-house payment infrastructure.

In its judgment, the tribunal said Apple’s restrictions “cannot sensibly be justified as being necessary or proportionate”, ruling that greater competition would provide better value and choice for consumers.

The ruling applies only to digital goods and services — such as games, music, and streaming apps — and excludes physical transactions like those made through Uber or Deliveroo.

Apple said it “strongly disagreed” with the tribunal’s findings and confirmed plans to appeal. The company told the BBC that its App Store system “ensures a secure and trusted marketplace for users and developers alike.”

The case adds to a series of global antitrust challenges faced by the Cupertino-based firm, which has been under scrutiny in both the EU and the US over similar claims of anti-competitive behaviour linked to its App Store model.

The ruling opens the door for millions of iPhone and iPad users to join the compensation claim. Anyone in the UK who made paid purchases through the App Store since October 2015 can check their eligibility and app purchase history via their Apple ID account settings.

Legal experts say the judgment could have far-reaching implications for digital platform accountability in the UK, potentially paving the way for further consumer class actions against major tech firms.

Read more:
Apple loses £1.5bn UK court case over App Store fees in landmark competition ruling

The number of high-earning women in the UK has risen to a record 284,000, according to new analysis by Bowmore Wealth Group.

The figure — covering the year to 31 March 2025 — represents a 12% increase from 254,000 the previous year and means women now make up 26% of top-rate taxpayers, up from 25% last year and 24% the year before.

The top or ‘additional’ rate of income tax, currently set at 45%, applies to individuals earning more than £125,140 a year.

Bowmore said the figures reflected “encouraging progress” as more women reach senior positions across sectors such as law, accountancy, and financial services.

“It’s encouraging to see a record number of higher-earning women,” said Gill Millen, Managing Director at Bowmore Financial Planning.
“Growing female representation in senior roles is showing up clearly in higher incomes.”

The milestone coincides with data showing women now occupy a record 43% of FTSE 350 board positions, up sharply from less than 10% a decade ago.

However, Bowmore’s analysis reveals that women remain underrepresented among the UK’s very highest earners, with progress stagnating for those earning more than £1 million per year.

While the number of men earning seven-figure salaries rose by 9% to 2,500, the number of women remained flat at around 400 — meaning women now account for just 14% of the group, down from 15% the previous year.

“Unfortunately, the progress made with more women entering the top tax bracket doesn’t yet extend to the very top end,” Millen said.
“That suggests there are still barriers preventing women from accessing the highest-paid leadership roles and ownership stakes.”

Experts suggest that the gender imbalance at the highest income levels reflects structural disparities in leadership access, partnership models, and equity ownership — particularly in financial and professional services.

While more women are rising into C-suite and director-level roles, bonus structures, equity allocations and profit-sharing mechanisms still heavily favour male counterparts.

Millen added that the trend underscores the importance of financial planning and investment literacy among women as their earning power grows.

“As more women earn more, the need for smart, informed investing becomes increasingly important,” she said.
“It’s not just about wealth accumulation but ensuring long-term financial security, comfortable retirement and intergenerational planning.”

Bowmore’s research also highlights that women are still less likely than men to seek professional financial advice, even as their incomes rise.

“Research shows women are less likely to work with advisers, partly because the financial services industry remains male-dominated,” said Millen.
“As more women become high earners, ensuring access to inclusive, trusted financial guidance is more important than ever.”

Read more:
Number of women high earners hits record 284,000 – but gender gap widens at £1m+ level

Scottish finance expert Craig Alexander Rattray has called for stronger government protections for small and medium-sized enterprises (SMEs) involved in legal disputes with large corporations, following his own trademark battle with billion-dollar accounting firm Xero.

Rattray, founder of the financial education programme Know Your Numbers®, claims that Xero’s use of a name “strikingly similar” to his registered trademark has exposed how difficult — and expensive — it is for smaller businesses to defend their intellectual property.

Legal advice has suggested that Rattray has a strong case, but with estimated litigation costs of up to £750,000, he says most SMEs would find it impossible to pursue action.

“What’s the point in a trademark if it costs so much to defend it?” he said. “We did everything by the book to protect our brand, but the system isn’t set up to support smaller businesses when this kind of thing happens.”

Rattray is urging the government to explore simplified legal recourse, subsidised support, and faster dispute resolution for small businesses defending intellectual property rights.

“Small businesses do the right thing — they build something unique, register it, and follow the rules,” he said. “But when a big company with deep pockets comes along and uses something similar, we’re priced out of the system that’s supposed to protect us.”

“We need a better framework — whether that’s subsidised legal aid, streamlined mediation, or a dedicated fund to help SMEs enforce their rights. Otherwise, what’s the point of registering your IP if only large corporates can afford to defend it?”

The dispute centres on Xero’s “Know Your Numbers” initiative, launched in Australia and New Zealand earlier this year and recently rolled out in the UK. Rattray holds the registered UK trademark for “Know Your Numbers®” in the field of financial education and training.

He established the brand four years ago, building a trusted financial education platform that helps thousands of small business owners understand their finances through workshops, podcasts, video content and two published books.

“We’ve built a recognised brand that makes a real difference to business owners,” Rattray said. “So when we saw a billion-dollar company use the same name for a similar initiative, we were taken aback — especially given the values they claim to promote.”

Following legal correspondence, Xero acknowledged Rattray’s cease-and-desist letter and made a minor adjustment — changing its branding to “Xero’s Know Your Numbers” — but no agreement has been reached.

While Rattray remains confident in his legal position, he says the cost barrier effectively blocks smaller firms from pursuing justice.

“Xero positions itself as a champion of small business,” he said. “But this feels less like healthy competition and more like being sidelined by a company with far greater resources.

They’re offering a free programme under the same name, and that directly affects what we’ve worked so hard to build.”

A spokesperson for Xero said: “I’m afraid we are not able to comment on that matter right now.”

Rattray’s experience highlights a broader challenge facing SMEs in protecting intellectual property against global corporations. Business groups and legal experts have long warned that complex, costly trademark disputes are deterring entrepreneurs from enforcing their rights.

As the government continues to promote entrepreneurship and innovation, Rattray believes IP protection must form part of a wider pro-SME agenda.

“This isn’t just about one business,” he said. “It’s about protecting thousands of small business owners who do the right thing but can’t afford to fight back when big companies overstep.”

Read more:
Finance expert calls for stronger government support to protect SMEs in legal disputes

Hensol Castle Distillery has announced a series of record-breaking achievements for the first six months of its financial year, underscoring its growing status as one of Wales’s most successful spirits producers.

The business achieved an AA grade in its latest BRCGS re-audit — the highest possible certification — recognising world-class standards in product safety, quality and traceability.

The distillery also expanded its supermarket partnerships, with new listings driving growth across Wales and the UK. Its premium Hensol Castle Vodka launched in Tesco stores across Wales for the first time this year, while a new distribution agreement with Molson Coors will support national on-trade expansion.

During the first half of 2025, Hensol Castle Distillery delivered record contract bottling volumes of 1.3 million bottles, fulfilling orders for several blue-chip drinks companies. The company also confirmed that profits for the period were significantly ahead of forecasts.

The results highlight the distillery’s dual focus on contract manufacturing and premium own-brand production, with operational excellence and quality assurance driving both revenue streams.

“Whilst the challenges facing the hospitality industry are widely reported, we are delighted to continue building market share and distribution for our own spirits brand,” said Chris Leeke, Managing Director.

“We are also proud to have earned the trust of respected national brands to produce their spirits on their behalf. Our success in the past six months is a testament to our passionate and knowledgeable team, whose dedication continues to drive our growth.”

The business’s partnership with Molson Coors marks a significant step in its on-trade strategy, with the brewer’s Regional Director Martin Anderson welcoming the collaboration: “We’re excited to add Hensol Castle to our on-trade distribution portfolio. Our teams are enthusiastic about bringing the brand’s unique Welsh offering to more customers across the UK.”

Meanwhile, the company’s whisky production programme continues to mature. Hensol Castle confirmed that its first whisky release is planned for the second half of 2026, with several special-edition cask finishes already in development.

The distillery’s visitor experience continues to thrive, attracting thousands of guests annually and contributing to the region’s growing food and drink tourism sector.

In 2025, Hensol Castle Distillery once again secured the Tripadvisor Travellers’ Choice Award and was named Tourism and Hospitality Business of the Year at The Vale Business Awards — both for the second consecutive year.

As Hensol Castle Distillery continues to invest in new product innovation and infrastructure, it remains committed to upholding exceptional quality, sustainability and customer confidence.

“Our focus is on continuous improvement — from the integrity of our production standards to the partnerships we build,” said Leeke. “We’re determined to make Hensol Castle a brand Wales can be proud of.”

Read more:
Hensol Castle Distillery has reported a record-breaking start to 2025

Natural Resources Wales (NRW), a Welsh government-sponsored body, has paid a £14.6 million settlement to HMRC after admitting to historic non-compliance with the UK’s IR35 off-payroll working rules.

The settlement, which includes a £2.9 million penalty (suspended for 12 months), stems from errors in determining the employment status of contractors engaged between 2017 and recent years.

NRW confirmed it had been in discussions with HMRC since 2017, when off-payroll reforms first came into effect for public sector bodies — shifting the responsibility for assessing IR35 status from contractors to the engaging organisation.

In a statement, the organisation said: “Our processes have now been changed. We are no longer using off-payroll contractors, and our default position is that we should not use them in the future.”

According to NRW’s disclosure, incorrect assessments of contractor status under the IR35 framework led to tax liabilities totalling £14,631,191.13, with HMRC also issuing the suspended fine.

NRW’s chair, Sir David Henshaw, said the organisation accepted responsibility for the errors, describing the IR35 rules as “complex” and noting that the focus now was on “resolving the issue” and tightening internal processes.

“As many other organisations in both the public and private sectors have discovered, the IR35 rules are complex,” he said.
“But we accept that the mistakes that came to light should not have been made. Our focus has been to resolve the issue with HMRC and the Welsh Government, taking advice from legal and tax experts to inform our decisions.”

The case has drawn sharp criticism from compliance experts, who warn that public bodies continue to struggle with IR35 interpretation eight years after the reform was introduced.

Seb Maley, CEO of Qdos, an IR35 compliance specialist, said the NRW case highlights the “staggering cost of mismanaging IR35 reform” and serves as a warning for all organisations engaging contractors.

“The sheer numbers shine a spotlight on the cost of getting IR35 wrong,” Maley said. “Misinterpreting or misapplying the rules can easily result in a huge tax bill. But cutting off contractors altogether isn’t the answer — IR35 can be managed with the right processes in place.”

He added that many public and private sector organisations now successfully engage contractors compliantly, combining workforce flexibility with robust governance.

IR35 reform, first introduced to the public sector in 2017 and later extended to the private sector in 2021, was designed to prevent tax avoidance by individuals working through limited companies but operating like employees.

However, the rules have faced criticism for ambiguity and administrative burden, leading to a string of high-profile settlements. HMRC has recouped millions from government departments and public bodies including the BBC, Defra, and the Department for Work and Pensions in similar cases.

NRW said it had overhauled its recruitment and contractor engagement procedures and would continue to liaise with HMRC and Welsh Government advisers to ensure full compliance in the future.

“Our focus is on maintaining transparency, learning from this experience, and preventing future errors,” a spokesperson said.

Read more:
Welsh government body hit with £14.6m IR35 tax bill after compliance errors