Latest news with #Nucleus
Times
6 days ago
- Business
- Times
The inheritance tax headache coming for the middle class
Tens of thousands of families will be pulled into paying inheritance tax as the government goes ahead with its raid on pensions, despite fierce opposition from the industry. From April 2027 pension pots will be included in the value of your estate for inheritance tax purposes. The change was first announced in the budget in October, leading to warnings from hundreds of pension companies, financial advisers and tax firms that it would create an administrative nightmare for grieving families. 'It's a horrible outcome. Not only are lots of grieving families going to pay far more tax, but alongside that they are going to have complex paperwork to deal with,' said Andrew Tully from the investment firm Nucleus. 'And it's not just something that will affect the super-wealthy. Frozen thresholds and rising asset prices mean that inheritance tax is already more of a burden on the middle class, and this will only be exacerbated by charging inheritance tax on pensions, too.' Anything left to a spouse or civil partner, including pensions from 2027, is exempt from inheritance tax and couples can pass on any unused allowances to each other, giving them a total of £1 million to pass on inheritance tax-free. Under the new rules, 'personal representatives' will be responsible for dealing with HM Revenue & Customs (HMRC) and paying any inheritance tax due on pensions. This will be whoever is named as the executor in the will, usually a family member or a solicitor. This will involve finding all the deceased's pension pots, contacting each firm and getting accurate valuations of those pots at the date of death. The representative must then calculate any tax liability and co-ordinate with the pension beneficiary to decide how the tax will be paid — from the estate, the pension itself, or through the pension firm. All this needs to be done within six months of the person's death, which is when the tax is due. Campaigners have pressed the government to extend the deadline to 12 or 24 months in cases involving pensions because of the added complexity. Rachel Vahey from the investment firm AJ Bell said that the process could end up being so complicated and confusing that families, fearful of ending up on the wrong side of HMRC, would pay for help. Families may also face delays in getting their money because pension firms could withhold up to 40 per cent of a pension's value until they are certain that no tax is owed. • Read more money advice and tips on investing from our experts At the moment most people inheriting a pension, including spouses or civil partners, pay income tax on the money, unless the pension holder died before they were 75. The government has confirmed that this will continue even after inheritance tax is applied, meaning that some families face a double tax hit that could leave them paying an effective tax rate of up to 90 per cent on inherited pension money. For example, a higher-rate taxpayer inheriting a pension worth £100,000 from a £600,000 estate would lose £40,000 to inheritance tax, leaving £60,000. If they were taxed at their income tax rate of 40 per cent on that sum, a further £24,000 would go to HMRC, leaving just £36,000 — an effective tax rate of 64 per cent. For a top-rate taxpayer, the figure rises to 67 per cent. If the pension assets push an estate above £2 million (at which point the extra £175,000 you get if you leave your main home to a direct descendant is gradually reduced), the total tax burden on an inherited pension could climb to 90 per cent because of the lost allowance and high income tax rates. • 'My reward for being a good saver? A £1,000 tax bill' About 5 per cent of estates paid inheritance tax last year and the Office for Budget Responsibility, the official forecaster, expects this to double to 10 per cent by 2030 because of the changes to pensions. The amount paid in inheritance tax is expected to boom too, from £8.4 billion by the end of this tax year to £14.3 billion by the turn of the decade. Pension assets alone are expected to generate £1.5 billion a year. But the consultancy LCP believes that this figure significantly underestimates the impact of the tax raid. Its forecast suggests that pension-related inheritance tax could raise as much as £3 billion a year. Its analysis factors in the surge in savers transferring from the old final-salary (defined benefit) pensions to defined contribution pensions (which offer more flexibility but where the amount you get in retirement is not guaranteed). Since 2015 more than 100,000 have moved pots into pensions that will now be subject to tax. Financial advisers are already seeing a surge in demand for estate-planning tools, such as insurance policies and trusts, as families look to protect their heirs and manage tax liabilities. One option is life insurance that will cover the inheritance tax you expect your beneficiaries to pay, and to place it in a trust. This keeps the insurance payout outside your estate. 'Clients are looking at whole-of-life insurance, written into a trust,' said Lucie Spencer from the wealth manager Evelyn Partners. 'It means the funds are there to pay the IHT bill and your family does not need to borrow money or sell assets to get probate.' St James's Place (SJP), a wealth manager, is expecting a rise in the use of what is known as gift inter vivos insurance — policies that have to be written into a trust, and which will cover any inheritance tax due on gifts made before you die. If you make a gift and then live another seven years, no inheritance tax is due on the value of that gift, but if you die before, the beneficiary could face a bill. The value of a gift inter vivos policy tapers down in the same way that the tax due on a gift decreases over the seven years after it is given. Tony Mudd from SJP said the number of the firm's financial advisers looking into such products had doubled since last year. • On £100k and struggling: why it's hard being a Henry Bryony Cove from the London law firm Farrer & Co said: 'All these things are part of the patchwork of estate planning, and I imagine we will see an increase in people using these. 'It's crucial to get some guidance, either professional or from Citizens' Advice, as it's quite a complicated system. Make sure you've spoken to someone who knows what they are doing.' The Treasury said: 'We continue to incentivise pension saving for its intended purpose — of funding retirement instead of being openly used as a vehicle to transfer wealth. More than 90 per cent of estates each year will continue to pay no inheritance tax after these and other changes.'
Malaysian Reserve
21-07-2025
- Business
- Malaysian Reserve
Nucleus Security's Steve Carter Named a 2025 Security Business Innovator
Peer-nominated award recognizes innovative contributions to the security industry SARASOTA, Fla., July 21, 2025 /PRNewswire/ — Nucleus Security, the leader in unified vulnerability and exposure management, today announced that Steve Carter, co-founder and CEO of Nucleus Security, has been selected as a 2025 Security Business Innovator for his entrepreneurial spirit, deep technical acumen, and commitment to addressing critical security challenges. With more than two decades of cybersecurity experience, Steve brings deep technical expertise and strategic vision to his role as CEO of Nucleus Security. He founded the company after identifying a critical need in both the public and private sectors for a comprehensive unified vulnerability management platform tailored to modern data environments. Under his leadership, Nucleus has become a recognized leader in unified vulnerability and exposure management, marked by significant company growth and industry recognition. 'I'm honored to be recognized as a Security Business Innovator, an achievement that belongs equally to our team of talented professionals at Nucleus,' commented Steve Carter, co-founder and CEO of Nucleus Security. 'Building a successful company relies on several factors, most importantly the people putting in the hours, innovating in their roles, and committing to excellence. Our team fully embodies these qualities, which is why Nucleus Security consistently evolves to meet the demands of the rapidly changing threat environment.' This recognition highlights Steve's commitment to driving innovation within the cybersecurity industry and reflects Nucleus Security's ongoing dedication to helping organizations effectively manage and reduce their risk exposure. As cybersecurity threats continue to evolve, Steve's leadership and vision position Nucleus Security at the forefront of delivering advanced solutions that meet today's complex threat landscape. 'The Security Innovator Awards emphasize industry innovation and reward those individuals who actively demonstrated an outstanding level of excellence,' explains SecurityInfoWatch Editorial Director Steve Lasky. The Security Innovator Awards, presented by Endeavor Business Media's SecurityInfoWatch, Security Business, and Security Technology Executive brands, is the security industry's only 100 percent peer-nominated program to recognize the innovative contributions made by individuals in the security industry. About Nucleus Security Nucleus Security is the enterprise leader in unified vulnerability and exposure management enabling organizations to prioritize and mitigate vulnerabilities faster, at scale. Delivering unmatched time to value, Nucleus automatically unifies and organizes data from all your security and business tools into a single pane of glass. With powerful dynamic automations, teams can effectively automate their vulnerability management program. As a FedRAMP authorized vendor, Nucleus Security is transforming how enterprises, federal agencies and defense contractors secure their digital assets and networks. To learn more about Nucleus Security for Government, please visit: For more information about Nucleus Security and its services, please visit: Media Contact:pr@
Newsweek
20-06-2025
- Health
- Newsweek
New IVF Tool Allows Parents To Screen Genetics of Embryos: Is It Ethical?
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. A new tool allows parents undergoing in vitro fertilization (IVF) to screen their embryos for health issues, but is it ethical? Genetic disease is believed to be linked to 41 percent of U.S. infants' deaths, while more than 2 million children in the country have a genetic condition. U.S.-based company Nucleus is offering people having IVF the chance to select their embryos by using software that highlights various genetic markers linked to health. Technology that tries to prevent genetic diseases like sickle cell disease, where patients have unusually shaped red blood cells, is already in use. Newsweek/Getty Images/Newsweek/Getty Images "This type of selection of specific embryos as a result of IVF is already occurring in sickle cell care," Dr. Crawford Strunk, vice chief medical officer of the Sickle Cell Disease Association of America, told Newsweek. Parents are able to choose an embryo which tests negative for sickle cell disease, he said, and from which stem cells can also be taken for transplant to help cure children with the condition. However, two experts raised concern over embryo selection, with one telling Newsweek that there are "deeply troubling ethical aspects" of IVF. Preventing Genetic Disease and Improving Embryo Health Nucleus Embryo is described as "the first genetic optimization software that helps parents pursuing IVF see and understand the complete genetic profile of each of their embryos." With the tool, users can check for more than 1,000 traits and conditions, from single gene disorders like cystic fibrosis to complex conditions like heart disease and cancer risks, and mental health conditions like anxiety and ADHD, the company's CEO Kian Sadeghi told Newsweek. The technology is able to do this by not only detecting specific genetic markers for certain diseases but by also calculating polygenic scores, which combine up to a million genetic markers into a single number to determine someone's genetic predisposition for a condition or trait. This includes coronary artery disease, breast cancer, type 2 diabetes and more. "These integrated models further enable Nucleus to identify risk in embryos and adults as accurately as possible," Jerry Lanchbury, a member of Nucleus' scientific advisory board, told Newsweek. According to a 2023 study by Rady Children's Institute for Genomic Medicine, the deaths of five out of seven infants from genetic disease could have been prevented had "rapid, diagnostic [whole genome sequencing] been performed at the time of symptom onset or intensive care unit admission." In the U.K., whole genome sequencing has been brought in as a routine part of medical care, in order to increase "early detection and treatment of high-risk conditions." "The power of genetic prediction also goes beyond rare diseases. Genetic testing can lead to lifesaving preventive care," Lanchbury said. He added that genetic instances of high cholesterol, breast cancer and colon cancer cause a substantial number of deaths in the U.S. every year, with more than 3 million cases contributing to over 750,000 deaths per year. "Each of these conditions are preventable," he said. Lanchbury also said that "the environment, parenting and chance play profound roles in how genetic predispositions manifest," so Nucleus ranks its predictions by strength so that parents can understand the range of likely outcomes for their embryos. Debbie Wasserman Schultz, U.S. representative for Florida, told Newsweek that IVF can be a "godsend" for those with a BRCA gene mutation—which can increase the risk of breast cancer in women by 80 percent, Lanchbury said. A breast cancer survivor herself, Wasserman Schultz added that IVF treatment "can help end generational genetic cycles of deadly disease in a family's future." Technology that can test for a BRCA gene mutation in embryos and determine which embryos should be implanted as a result is "one of many incredible, life-saving benefits of genetic research," she said. However, while Sadeghi told Newsweek that "people have the right to genetically optimize their children," various groups and experts say the technology raises a number of ethical questions. A photo of a Nucleus kit, used to screen embryos for genetic conditions. A photo of a Nucleus kit, used to screen embryos for genetic conditions. Uncredited/Nucleus Choosing Embryos Based on Characteristics While giving parents the opportunity to select their embryos based on a number of traits and conditions could help to reduce the prevalence of genetic disease, it could also allow them to make their choices based on other factors. "If we are talking about screening and selecting certain human embryos over others based on a host of characteristics and risks, then we are not talking about preventing harm to future human beings but making a choice as to which human lives are most worth living," Jason Thacker, assistant professor of philosophy and ethics at Southern Seminary and Boyce College, told Newsweek. He added that from the very moment of fertilization, "a unique human being is made which has inherent dignity, value and rights." "This is one of the deeply troubling ethical aspects of IVF in general, where children are often treated as mere commodities and not fully human in the embryonic stage," he said. He added that while modifying genes to prevent disease "may have some tangible benefits worth cautiously pursuing," it is also important to be aware of how those decisions will affect the child and subsequent generations. There has also been some concern raised about the implications of parents selecting embryos with a higher IQ screening. "Parents can select for an average difference of 2.5 IQ points," Sadeghi told Newsweek. However, intelligence has been found to be linked with schizophrenia, ADHD, OCD, Alzheimer's disease and autism, he added. "When you analyze genes for disease risk, you're also uncovering insights into traits, since both share a common genetic foundation," Sadeghi said. "What matters most to us is helping parents understand these genetic connections—so they can make informed choices based on what matters most to them." Thacker, however, warned that this technology was leading society into territory where "we will not always be able to accurately predict the downstream effects of our biomedical decisions, and we must be extremely cautious and seek wisdom as we go about techniques that affect real human lives—both in the embryonic stage, at birth and into future generations." A photo of a computer screen showing the results from an embryo assessment done by the company Nucleus. A photo of a computer screen showing the results from an embryo assessment done by the company Nucleus. Uncredited/Nucleus IVF Treatment and Unused Embryos Some concern, particularly from religious groups, has been raised over the fact that this technology could result in unused embryos being destroyed. According to calculations by the Catholic television network EWTN, more embryos are likely destroyed during IVF treatment than via abortion each year. Catholic belief determines a new human life begins at the point of conception or fertilization, meaning the loss of these embryos equates to a loss of human life, making IVF itself an ethical issue. "IVF is morally condemned because it replaces, rather than assists, the sexual act of the couple in conceiving children and creates human life in a lab where the embryos are easily mistreated and even killed," Joseph Meaney, a past president and current senior fellow of the National Catholic Bioethics Center, told Newsweek. Meaney said gene therapy for embryos could be ethical as long as it was done to "treat or cure a genetic or medical defect." However, "It is not ethically acceptable to make genetic modifications to normal human beings with the intention of enhancement—defined as trying to create better than healthy human capacity," Meaney said, pointing to those who may wish to select embryos based on higher intelligence for example. Aware of these concerns, Sadeghi told Newsweek that Nucleus intends to overcome the issues "openly, transparently, and always guided by individual choice." "Everything we do is guided on the principle of responsible use of modern genomic science, and reproductive freedom," he added. Sadeghi said that until now, this sort of technology "has been discussed only behind closed doors—not in public." This means that Americans now have the opportunity to "listen to each other, hear each other out, and use this information to establish their views to ensure the insight Nucleus Embryo can provide is put to good use."
Newsweek
19-06-2025
- Health
- Newsweek
CEO Says New Tool Allows Couples To 'Genetically Optimize Their Children'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The CEO of a U.S.-based biotech company that developed software to enable parents to select embryos used for in vitro fertilization (IVF) based on genetic markers, told Newsweek that this "genetic optimization" would help people "live longer and thrive." Kian Sadeghi created his DNA testing and analysis company Nucleus to "give parents direct insights into whatever matters most to them when they choose their embryo." Nucleus offers the world's first genetic optimization software that allows parents to have preferences over their child's genetics during the IVF process, with the aim of reducing preventable genetic disease. "There's no moment when parents need to know how genetics will impact them and their loved ones more than when they're preparing to start a family," Sadeghi said. Genetic disease impacts millions of children in the U.S., with Down syndrome, Thalassemia, cystic fibrosis, Tay-Sachs disease and sickle cell disease among the most common. As well as screening for these sorts of conditions, Nucleus also analyses embryos for chronic conditions like Alzheimer's disease and heart disease. In total, it checks for almost 1,000 traits and conditions, from cystic fibrosis to heart disease, cancer risks, and mental health conditions like anxiety and ADHD. Kian Sadeghi, CEO of biotech company Nucleus, told Newsweek that "genetic optimization" would help people "live longer and thrive." Kian Sadeghi, CEO of biotech company Nucleus, told Newsweek that "genetic optimization" would help people "live longer and thrive." Newsweek/Getty Images/Canva Sadeghi said that many families "have experienced death at the hands of these common conditions and seek to prevent similar suffering." He told Newsweek that his own experience of the loss and grief brought on by genetic disease was actually what guided him to set up his company. When he was 7 years old, his 15 year-old cousin suddenly died in her sleep from what he said was a "preventable genetic disease." "My parents were heartbroken and terrified that my siblings and I would have the same fate," he said. Being so young at the time, Sadeghi said "it didn't make sense to me why someone would drop dead at 15, when other 15-year-olds are fine." He said that the loss of his cousin was the the first time he "intuitively grasped this idea of generational health." "Seeing this genetic lottery, when someone wins and someone doesn't, really stuck with me," he said. As he grew up, he developed a keen interest in genetics in school and by the time he got to college he was determined to create software that "could prevent what happened to my family from happening to anyone else in the world." After dropping out of the University of Pennsylvania, he then set up Nucleus in 2020, and believes that his software will spare families from the grief he himself felt when he lost a loved one to a preventable genetic disease. Kian Sadeghi, CEO of Nucleus, a company that has developed software to help parents screen their embryos for genetic conditions. Kian Sadeghi, CEO of Nucleus, a company that has developed software to help parents screen their embryos for genetic conditions. Uncredited/Nucleus Sadeghi added that his company is "democratizing access to genetic information," as at the moment, he said genetic testing results can be hard to decipher without a clear explanation from a doctor. "We're putting comprehensive, actionable data directly in parents' hands with tools that let them actually understand and compare their options," Sadeghi said. However, given that the software allows parents to genetically "optimize" their children, it raises various ethical questions, ones which members of the public have taken to social media to ask. Some social media users on X, formerly known as Twitter, voiced their concern that genetic screening could have unknown, secondary impacts, while others criticized Nucleus for oversimplifying the issue, saying "we can't predict longevity even for adults, so how can we possibly do this for embryos." Discussing ethical issues raised by the public, Sadeghi said, "until now, how this science would impact how we have children and how we would deploy it has been discussed only behind closed doors—not in public." He said now that Nucleus has announced the availability of the technology, the public has the opportunity to "listen to each other, hear each other out, and use this information to establish their views to ensure the insight Nucleus Embryo can provide is put to good use." Sadeghi added that the best way to have the public understand the technology was "to have them use it," and that it was important to make it accessible to as many people as possible. There have also been concerns raised about whether genetically optimizing IQ in embryos could increase risk of mental health conditions like schizophrenia. Sadeghi said that his company's report on schizophrenia risk for embryos noted that the condition is linked to both bipolar disorder, as well as intelligence, and that ADHD, OCD, Alzheimer's disease and autism were also linked to intelligence. He added that "we always educate parents on links between high disposition to neurological diseases and exceptional traits." "When you analyze genes for disease risk, you're also uncovering insights into traits, since both share a common genetic foundation," he said. The software, while being offered to parents to help them prevent their children from developing genetic disease, therefore does come with ethical considerations—considerations which will continue to be explored and discussed in public, now that the technology has brought the issue into the spotlight.
Time of India
16-06-2025
- Business
- Time of India
Nucleus Software appoints Aabhinna Suresh Khare as chief marketing officer
Nucleus Software , India's provider of robust digital lending and transaction banking solutions to the global financial services industry , has announced the appointment of Aabhinna Suresh Khare as its new chief marketing officer (CMO). In his new role, Khare will lead the global marketing strategy , drive digital brand transformation and strengthen stakeholder engagement across markets. With over 18 years of multi-sector leadership experience, Khare has been instrumental in building and scaling customer-centric brands across fintech, media, and consumer-tech industries. He has previously held senior roles at Bajaj Capital, BookMyForex, IndiaMart, Travel Triangle, and Star and Zee Networks, where he led impactful marketing strategies aligned with business growth and innovation. This appointment reflects Nucleus Software's continued investment in strategic brand leadership at a time when AI, digital experience, and trust-driven communication are defining the next era of enterprise engagement. "We are delighted to welcome Aabhinna to Nucleus Software's leadership team. His deep expertise in modern marketing, combined with a strong understanding of technology, makes him a valuable addition as we accelerate our global growth. At Nucleus, we have always believed in building meaningful connections—with our customers, our people, and the industry. Aabhinna's vision of AI-powered storytelling and purpose-led brand building aligns with our mission to deliver value with trust and innovation," said Parag Bhise, chief executive officer and executive director, Nucleus Software. An alumnus of MICA (Gold Medalist) and NIT Raipur, Khare has further sharpened his leadership through executive programs at ISB (Customer Experience) and Reforge (Product and Analytics). His marketing philosophy blends data-backed decisions, storytelling at scale, and human-centered design to deliver measurable business impact. "We are at the edge of a paradigm shift where AI is not just transforming technology—but reshaping how we build trust, tell stories, and connect with people. At Nucleus, we're uniquely positioned to lead this transformation with purpose and intelligence," said Khare. "My vision is to craft a brand that is as advanced as the solutions we offer—smart, scalable, and deeply human. A brand that doesn't just talk about innovation, but embodies it at every touchpoint', he further added. Beyond the boardroom, Khare is a passionate advocate of fitness and personal mastery—having completed the 75 Hard challenge twice. He is a lifelong learner intrigued by the intersection of spirituality, mythology, and business, often drawing inspiration from ancient wisdom to inform modern strategy. He describes his journey as the pursuit of Arete (ἀρετή)—a classical Greek concept of excellence in thought and action. As Nucleus Software accelerates its growth across global banking ecosystems, Khare's vision and leadership will help shape a brand that is future-ready, purpose-driven, and differentiated in a crowded marketplace, the company stated in a press release.
