Business & Technology
Tax Systems rebrands as Alphatax in AI tax compliance
SOFIAH NICHOLE SALIVIO
News Editor
Tax Systems has rebranded as Alphatax, aligning the business with its flagship corporation tax compliance product.
The London-based company described the move as the next phase in its development as an AI-focused tax technology provider. Alphatax is a long-established corporation tax software product that many customers already associate with the organisation.
The new brand will span the company’s portfolio across corporate tax, Pillar Two, transfer pricing and tax reporting. It also plans to build a single platform bringing together compliance, data, governance and tax intelligence in one environment.
Under the Alphatax name, the business intends to create what it describes as the foundations of a tax operating system: a connected environment where tax data, decisions, approvals, filings and supporting evidence sit within one digital structure.
The rebrand also marks a shift in how the company positions itself to finance and tax departments. Previously, its messaging focused on compliance functions and regulatory reporting.
“This is another important step in the evolution of the company. For a long time, we described ourselves as a tax compliance company. That description no longer fully reflects what we are becoming. Compliance remains core to our business, but the next chapter is about trusted intelligence: helping organisations process and understand tax faster, with more context, stronger controls and greater confidence,” said Bruce Martin, Chief Executive Officer, Alphatax.
The company wants to expand its role in data analysis and decision support within tax teams. It is emphasising AI-based tools and connected data flows across large organisations.
Alphatax’s corporation tax software has a long history in the UK and international markets. The product is used by in-house tax teams at large corporates and by advisers managing complex multi-jurisdictional filings.
Management is betting that the strength of the Alphatax name will ease the transition from the Tax Systems brand. Many large companies already use the software for core corporation tax calculation and reporting.
Customers will see a unified brand but keep the same products and contacts throughout the transition. Support and implementation teams will remain in place under the new identity.
Alphatax is backed by private equity investor Providence Equity Partners. Founded in 1991, the company has operated in the tax software market for more than three decades.
It works with more than 42% of the FTSE 100 and serves 80% of the top advisory firms globally, according to the company.
More than 30,000 tax professionals have trained on Alphatax software, and users file more than 200,000 submissions a year through its systems, according to the company.
Martin said the brand already carries a specific meaning for many in the market.
“Many of our customers already know us as Alphatax,” said Martin. “For decades, the name has been associated with trust, accuracy, rigour and helping tax professionals get the job done properly. It reflects both the foundations that built this company and the future we are creating: a more connected, intelligent and proactive way for tax teams to work.”
Business & Technology
Oxford OWA launches AI service focused on human oversight
OWA, an Oxford-based digital product company with more than 30 years of experience, announced its new AI integration offering on Tuesday, July 14.
The service is aimed at helping businesses and charities adopt AI technologies in a way that adds value while maintaining essential human oversight.
Mark Hall, founder of OWA, said: “Artificial intelligence is one of the most significant technological developments we’ve seen, but it’s not the first transformative technology we’ve helped organisations adopt.
“Since 1995 we’ve guided clients through several waves of groundbreaking digital change, and the lesson is always the same: success comes from understanding the people, the use case, and the desired outcome before selecting the technology.”
Having previously delivered AI solutions for clients behind the scenes, OWA is now formally expanding its service publicly.
The company emphasises a ‘human-first’ approach, ensuring AI works alongside people and processes rather than replacing them outright.
The new service covers workflow automation, agentic AI systems, and retrieval-augmented generation (RAG) models that create bespoke assistants trained on an organisation’s own data.
OWA supports clients throughout the process, including data preparation, technical implementation, security, and long-term governance.
The company’s information security protocols are backed by ISO 27001 certification – a globally recognised standard for information security management systems.
Mr Hall said: “There’s a lot of excitement around AI, and rightly so because the possibilities are enormous.
“But organisations don’t need more hype to dive headfirst into AI – they need trusted partners who can help them identify where it can genuinely add value and make life easier while ensuring appropriate security, governance and human oversight. That’s the role we see ourselves playing.”
Recent client projects include an AI agent designed for a regulatory service in consumer protection, providing an interactive knowledge base for members.
OWA has also built AI-powered workflow tools for a portraiture client that improved operational efficiency.
The company, founded in Oxford in 1995, has worked with long-term clients for more than 20 years and sees its latest service as a continuation of its relationship-based approach.
Mr Hall said: “Technology changes, but the fundamentals of delivering successful digital projects do not.
“The tools we use have evolved but the need for trust, expertise, and a clear understanding of user needs has always remained constant.
“We bring the same rigour to AI that we’ve brought to every technology we’ve worked with over the last 30 years.”
More information about OWA’s AI integration service is available at www.owadigital.co.uk/services/AI-integration.
Business & Technology
Henley Business School students learned about management
The placement at Fairstone, one of the UK’s largest wealth management groups, is part of a growing partnership between the wealth management group and the school.
Students Austen Williams, who is studying finance and financial technology, and Matteo Antonetti, who is studying finance, are taking part in the internship.
Both have been working at Fairstone’s City of London office, where they have been involved in a range of activities, including client annual reviews, liaising with providers, and drafting letters of authority.
Matteo Antonetti, 24, from Bologna, Italy, said: “I’m really enjoying the experience so far.
“There is a lot to take in, from how the industry works to the dynamics of the office, but people here have been really good, very welcoming and have a lot of time for us.”
Austen Williams, 21, from Kent, said: “Where the office is really makes you feel in the middle of everything.
“Everyone has been very helpful – they’re very approachable which makes it easy to ask people questions and find out more about the business and the industry.”
After completing their placement, the students will write reports on their experience, including research into Fairstone and the wealth management sector.
These reports will contribute towards their final degrees.
Blayne Cooper, head of employer engagement at Henley Business School, said: “This is a great opportunity for both the students and for Fairstone as a business.
“The internship gives students invaluable real-world experience – while theory is important and Henley Business School has a lot of cutting edge thinking, this give students the chance to put that theory into practice.”
Rob McDonnell, performance director for Fairstone’s South region, said: “This is the first time we have had interns from Henley Business School and it’s been a hugely positive experience.
“As a business, we are always keen to help engage and encourage the next generation of wealth management professionals and to share our knowledge and experience with them.”
Fairstone partners with a number of universities, colleges, and schools across the country including Newcastle, Northumbria and Sunderland Universities.
Kevin Waters, head of learning, talent and development at Fairstone, said: “These partnerships provide access to high-potential students and early-career professionals, offering meaningful experiences, learning opportunities, and career pathways that align with organisational objectives.
“Ultimately, partnering with educational institutions is not only about recruitment.
“It is about shaping the future workforce.”
Business & Technology
UK AI firms raise record GBP £4.56bn in Q2 funding
KAREN JOY BACUDO
Finance Editor
UK artificial intelligence companies raised a record £4.56 billion in equity funding in the second quarter, according to Beauhurst. The total accounted for 57% of all UK equity investment by value during the period.
Beauhurst tracked 269 AI fundraising rounds between April and June, accounting for about one in four of the 1,070 UK equity deals recorded across all sectors. The wider market raised £8.01 billion in the quarter.
The £4.56 billion total was 4.1% higher than the previous quarter’s £4.38 billion and 186.8% above the £1.59 billion raised by UK AI companies in the same period a year earlier. It made the quarter the strongest on record for UK AI investment by amount raised.
Data compiled from equity fundraisings into UK companies tagged with artificial intelligence also showed that a small number of large transactions accounted for most of the money invested. Eight AI fundraising rounds of more than £100 million made up almost 80% of disclosed AI investment during the quarter.
Those larger rounds included deals by Isomorphic Labs, Ineffable Intelligence, NScale, PhysicsX and Fractile. The figures may rise further as additional unannounced deals are identified through Companies House filings in the weeks and months after the quarter closes.
Sector split
Life sciences and health attracted the largest share of AI investment by value, with 36 deals raising £1.52 billion. That total was driven mainly by Isomorphic Labs’ £1.47 billion fundraise.
AI infrastructure, compute, and chips ranked second by value, with £986 million raised, led by rounds involving NScale, Fractile and Quantum Motion. Enterprise software, data and automation followed, with £843 million raised from 27 deals.
Financial services, payments and RegTech recorded the highest deal count among the largest categories, with 64 AI fundraisings in the quarter. Industrial AI, robotics and physical systems accounted for 61 deals and £470 million in funding.
The figures add to evidence that investor appetite for AI businesses remains concentrated, but broad enough to reach several parts of the UK private-company market. Fundraising was spread across life sciences, infrastructure, financial services, advanced engineering and software.
Henry Whorwood gave his assessment of the quarter’s figures.
“Q2 was a landmark quarter for UK AI investment. What stands out is not just the scale of capital going into AI, but the breadth of the companies raising. The UK is attracting major investment across life sciences, AI infrastructure, financial services, advanced engineering and enterprise software. AI is now a major driver of the UK private-company market,” said Henry Whorwood, Managing Director, Beauhurst Insights.
The research group said the recorded total is unlikely to be final because some equity deals are disclosed only after a delay.
“The headline figure is already a record, but it is unlikely to be the final number. Unannounced fundraising deals often come to light in the weeks and months after a quarter closes, so we expect the Q2 picture to continue developing,” said Whorwood.
Recent quarters have seen a sharp increase in AI investment, although the growth pattern has been uneven.
“There has been a rapid increase in investment into AI, with the last two quarters seeing significantly more investment than ever before. Although investment has almost tripled year on year, growth has not been consistent, so there will be a great deal of interest in what the rest of the year will bring. It is also interesting to note that 80% of the total invested into UK AI was raised by just eight AI equity raises, with life sciences and health attracting the most investment by value,” said Whorwood.
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