Chartered Accountants Ireland has named Donegal native and University of Galway lecturer Sophie Sweeney ACA as its 2025 Chartered Star. Awarded annually, the accolade is given to one of the Institute’s shortlisted members who demonstrates outstanding commitment to any of the 17 UN Sustainable Development Goals (SDGs). The competition – running since 2016 – gives the winner the opportunity to participate in the One Young World summit as the Institute’s representative. This year’s summit will take place in Munich, Germany, in November. In her application submission, Sophie described herself as a “storyteller at heart.” She is a lecturer in accountancy, finance and tax at the University of Galway and actively positions the SDGs within her teaching. Sophie believes in intertwining the SDGs into accountancy education to embed trust and sustainability as core values for future finance leaders. As well as this, Sophie is a PhD candidate examining how people experience tax across life stages. She advocates against inequality in social and taxation systems for the benefit of future generations and believes that education is essential to this. Commenting on her win, Sophie Sweeney said: “I am very excited and honoured to have been selected as Chartered Star 2025. I am passionate about learning and education as a means to promote equity and progress. I am really looking forward to hearing from all the contributors at the Summit, and to workshopping with the other delegates. We can learn a lot from each other.” Acknowledging the central role Chartered Accountants play in addressing the global challenges that the UN SDGs aim to address, competition entrants were shortlisted based on written and video testimonial submissions outlining how they live the values of the SDGs through their work and other pursuits. The summit will bring together the Chartered Star and 2,000 other young future leaders from over 190 countries for workshops and addresses from global leaders. Plenary topics featuring on the 2025 programme include the circular economy, responsible tech, anti-hate, education and peace and security. Commenting, Chartered Accountants Ireland Sustainability Advocacy Manager Susan Rossney said:  “Chartered Accountants are playing an ever-increasing role in addressing the UN SDGs through their work. Sophie’s work and her research interests espouse cover several of these including education, reducing inequalities, and promoting economic growth. Not only this but she actively raises awareness of the goals through her teaching, ensuring the next generation of finance professionals understand their role in meeting the goals”. Director of Members and Advocacy, Cróna Clohisey said:  “The Chartered Star competition is a very important initiative for the Institute. It highlights the power and potential of the Chartered Accountant to contribute meaningfully to societal change. Trusted business leadership is the Institute’s guiding principle and Sophie exemplifies this. She emerged as the worthy winner from a highly impressive shortlist and will gain a lot from the Summit, bringing these learnings back to her students. I wish her the best for the Summit in November.”

The Institute’s UK Tax Manager, Leontia Doran, delivered evidence on Monday in the Palace of Westminster to the House of Lords Economic Affairs Finance Bill Sub-Committee. As set out in the Institute’s Pre-Budget submission, Leontia told the Committee’s inquiry into draft Finance Bill 2025/26 that the number of farms affected in Northern Ireland will be much higher than the Government says. The Institute is also concerned about the impact on family-owned businesses in Northern Ireland. You can watch the evidence session here. Leontia highlighted the cost and administrative burden of the changes and the lack of consultation by the Government on these policy changes, which thus far have failed to consider the human impact and the wider economic ripple effect. In the lead in period to the changes taking effect from 6 April 2026, tax agents are already managing a very challenging workload including preparations for Making Tax Digital for Income Tax and mandatory tax adviser registration. Leontia discussed the potential for transitional measures to reduce the impact on older taxpayers who may be unable to make lifetime gifts and survive the seven years necessary to avoid an Inheritance Tax liability. Overall, the Institute is urging the Government to rethink the draft legislation and to introduce a range of mitigations to protect smaller farms and family-owned businesses. If this is not possible, Northern Ireland should be exempted from the changes given its unique circumstances. Further detail on the Institute’s recommendations is set out in our pre-budget submission. Earlier this year the Institute wrote to the Exchequer Secretary to the Treasury to highlight the disproportionate impact of these changes on Northern Ireland.

Chartered Accountants Ireland notes targeted actions to support business and the domestic economy, such as changes to Revised Entrepreneurs Relief, the extension of the Special Assignee Relief Programme, and an increased rate of R&D tax credit, noting the role these can play in enabling Ireland to remain competitive in attracting quality employment and investment. Cróna Clohisey, Director of Members & Advocacy, said: “Global economic uncertainty presented government with a trade off in Budget 2026, and it is clear today that VAT measures have trumped personal taxes in the need to protect employment.    “For the first time in five years, income tax credits and bands have not been adjusted for inflation—meaning many workers will face an unexpected tax hike in 2026. Wage growth will push more earners into the 40% tax bracket, while rising PRSI contributions further erode disposable income. This squeeze on take-home pay, despite no change in tax rates, will inevitably impact consumer spending.”  Missed opportunity to reduce the burden of compliance for business On Enhanced Reporting Requirements, Cróna Clohisey said: “It is really disappointing that no changes to Enhanced Reporting Requirements were announced today. The onerous real-time reporting of tax-free small benefits and expenses is a compliance burden on businesses and not addressing this today was a missed opportunity.” Balancing the cost of doing business Chartered Accountants Ireland advocates on behalf of almost 40,000 members, with Institute research showing that 77% of SME members reported increased business costs in the past six months, the largest being labour costs. While the VAT reduction for food, catering and hairdressing services will be helpful in managing costs for some businesses, it will not address the cost pressures facing SMEs across other sectors of the economy. Cróna Clohisey said: “While the reduction in VAT for certain hospitality services may offer some relief to businesses in that sector, it does not address mounting cost pressures across the wider economy. For example, businesses have already been impacted by the increase in Employers’ PRSI from 1 October 2025 with further increases expected each year up to 2028 – a direct increase in the cost of labour. A more sustainable approach to easing these cost burdens is needed.” Supports for business At a time when countries globally are sharpening their industrial tools amid greater competition for investment, today’s changes to the R&D tax credit demonstrate the government’s commitment to research and innovation. Gearóid O’Sullivan, Head of Tax, Chartered Accountants Ireland said: “R&D is an extremely valuable tool to boost economic resilience and drive growth and job creation in the economy, and today’s increase in the R&D tax credit rate to 35% is very welcome. We look forward to further detail in the coming weeks on the government’s research & development compass which we hope will lead to meaningful changes to the relief to address divergence with industry practices. “In terms of broader innovation and enterprise supports, we know that barriers to access and administration can disincentivise businesses from claiming, particularly for time and resource-constrained SMEs. Such barriers should be reduced in favour of efficiency wherever possible.” Addressing the infrastructure deficit Chartered Accountants Ireland has engaged extensively in recent years on methods to address significant deficits in the State’s crucial infrastructure, which represent a threat to ongoing economic growth and investment. Commenting on the tax measures for new build apartments, Cróna Clohisey said: “The VAT cut on new apartment sales coupled with the targeted corporate tax deduction for certain construction costs on the building of new apartments should help address supply challenges given it will be implemented in a time limited and targeted way. Viability of certain construction projects has been cast into sharp focus in recent months, with CSO data showing a drop of 24% in apartment completions from 2023 to 2024. Today’s measures will hopefully jumpstart construction on many sites that already have planning permission.”