Being made redundant can naturally be a shock — professionally, financially and emotionally. While it can feel personal, redundancy is rarely a reflection of your professionalism, skills, competence, or potential. These decisions are made without any regard to the individual and are based on meeting certain company metrics. This document is designed to help you deal with or plan for a redundancy situation. It will provide you with helpful tips and advice that will enable you to approach your next career move with clarity and confidence. Additional careers resources can be found here to assist you with planning your next steps. We also have an ongoing webinar series which covers a variety of topics which might be useful at this time. Take time to absorb the news Understandably redundancy often triggers an urge to act immediately. Before making any major decisions, give yourself space to think. This can feel counter intuitive, but it is important to take time to absorb the news, regain composure and to consider your next steps in a calm and considered way. What NOT to do immediately Do not panic‑apply for roles as this can negatively impact your brand in the market. It can also lead to you accepting a role that is not the best fit just to get back working again. Do not undersell yourself or assume you must take a step backwards in terms of the level of roles you consider or indeed salary. Do not rush into a role you don’t want simply to “get back into work quickly”. Do not assume your career options are limited to your most recent job title. Do not isolate yourself— withdrawal can stall momentum and negatively impact your confidence. Taking time to absorb the news and reset is an important first step as you plan the next stage of your career.   Reframe what redundancy means It is important to remember that redundancy is about roles, structures and economics, not your professional value to an organisation. It is the role that has been made redundant and not you. Redundancy does happen and for some it can happen several times during their career. This can be an opportunity to reassess and look to change direction to what could ultimately be a more rewarding career with enhanced opportunities. Your Chartered Accountancy qualification is very much sought after in the market as are your skills and experience. You now have the potential to demonstrate your adaptability, flexibility, and resilience which will appeal to prospective employers. Having a gap between roles no longer has the same negative connotations and it is all about how you explain any gap and how you used this time. Get clarity on your overall career before starting the job search process Before applying for roles, clarify your focus. Ask yourself: What aspects of my previous roles did I enjoy and what motivated me? What do I want more (or less) of in my next role? How can I best utilise the skills and experience that I have and play to my strengths? Do I want to stay in the same sector, or explore something new or different? Am I open to contract, interim or part-time options? Gaining clarity will help build your confidence and ultimately save you time. Update how you present and promote yourself For some members, this will be the first time in a while since you have updated your CV and LinkedIn profile.   What to avoid Presenting an outdated CV that has no impact. Listing responsibilities and duties rather than impact and outcomes. Over‑explaining redundancy on your CV. Hiding your redundancy status and not updating the dates on your CV. Using a generic CV produced by an AI tool. What to do instead Focus on your skills, competencies, achievements and the value that you have delivered in your roles, including specific outcomes and metrics. Clearly articulate your transferable skills. Ensure LinkedIn reflects your strengths and career narrative and is consistent with your CV. Prepare a short, confident and authentic explanation of your redundancy for conversations and interviews. Seek advice and support with the preparation of your CV. (Available via the Institute’s Careers team) Leverage online resources to provide you with a CV template. Tailor your CV to each role you are applying for. Invest time in networking and reaching out to and building your connections. Be strategic about getting back to work Do Target roles that genuinely align with your experience and goals. Leverage and build your network. Reconnect with former colleagues, managers and peers. Speak to recruiters with a clear brief. Ask for introductions to recruiters where they come highly recommended. Prepare for interviews and seek support with this process. Again the Institute’s Careers team can assist here. Consider interim, project or contract roles as strategic options. Be realistic in relation to how long it can take to secure the right new opportunity. Do NOT Apply without tailoring your CV. Accept the first offer out of fear of not finding another option. Undervalue your experience and drop your salary expectations too low. Look after your wellbeing Redundancy can negatively impact confidence, self-esteem, and identity, especially in high‑performing professionals. Maintain routine and structure on a daily basis. Look after your mental and physical health. Stay physically active. Spend time doing things you enjoy. Don’t spend all your time job hunting. Talk openly with trusted people and ask for help Seek professional support if needed Keeping a healthy mindset is fundamental to ensuring your job search is a success. As a member of Chartered Accountants Ireland, you do have access to the Thrive Wellbeing Hub that provides access to emotional and wellbeing supports. Remember Redundancy is an event and will not define your overall career. What matters is how you approach the situation and how you show up Your qualification, experience and skills remain valuable The fit of your next role is important and that should be your priority, even if that means it takes longer to get back to work Very often members look back at a later stage and recognize that being made redundant was a turning point for the better Final thought Getting back to work successfully is not about rushing — it’s about making informed, confident choices that support your long‑term career and wellbeing. Chartered Accountants Ireland is committed to helping members navigate this transition with confidence. If you are facing redundancy or have been made redundant, please contact the Careers Team for confidential assistance with planning your next steps. You are not starting from scratch but building on a strong foundation. You are moving forward with experience, confidence, and the potential to add value in a new role.

Redundancy is never easy — professionally, financially, or emotionally. But while redundancy marks an ending, it can also signify the beginning of a more intentional, strategic, and fulfilling career chapter. Chartered Accountants Ireland is committed to helping members navigate this transition with confidence. This guide reframes redundancy from a setback into an opportunity and outlines how the Institute can support you in planning your next steps. Personalised career coaching to clarify your direction Redundancy often leaves people unsure about: Whether to stay in the same type of role Whether to shift into a new sector What roles they are truly qualified for How to position their skills in a changing market The Careers Team provides one‑to‑one confidential coaching to help you: Assess your strengths, motivations and transferable skills Identify new roles that match your experience Choose whether to pursue practice, industry, financial services, advisory, or something new entirely Map your short‑ and long‑term career pathway CV, LinkedIn and application support to help you stand out Many members last updated their CV years ago. Others feel unsure how to describe newly redundant status. We help by: Supporting you with the creating of a modern, impact‑driven CV that markets your value Updating your LinkedIn to attract recruiters and hiring managers Helping you tailor applications for the roles you want next Interview preparation to build confidence After being made redundant it is common to underestimate the skills, competencies and value that you can bring to a role.  It is natural for your confidence to be negatively impacted. We offer: Mock interviews Competency‑based interview training Guidance on articulating technical and commercial strengths Practice in answering difficult questions, including redundancy Access to a powerful professional network After redundancy, your network becomes one of your greatest resources. Chartered Accountants Ireland helps you reconnect and expand through: Member networking events ACA Professionals committee District Societies Networking groups such as Chartered Accountants Ireland Interim Managers Career transition workshops & skills development For members who have been made redundant, upskilling can be a direct gateway to new opportunities. We can provide professional development support across a range of topics including: Technical skills Transversal and soft skills Market updates Emotional support and wellbeing resources Redundancy is not just a career event — it is a life event. It affects confidence, identity, and wellbeing. Chartered Accountants Ireland offers: A free, confidential counselling and wellbeing support service called Thrive.   What You Should Do Next — A Career Roadmap for Redundant Members Here is a clear, practical sequence to follow: Step 1 — Talk to the Chartered Accountants Ireland careers team We will help you create a stabilising plan for the next 1–3 months. Step 2 — Review your redundancy package carefully Understand the numbers, timing, and tax implications. Explore the options relating to social welfare supports Step 3 — Refresh your professional profile CV, LinkedIn, networking messaging. Step 4 — Reconnect with your network Let people know you are exploring opportunities. Step 5 — Consider your strategic next move Stay on the same path or pivot into something new. Step 6 — Upskill if needed Digital, commercial, leadership — depending on your goals. Final thoughts Redundancy can feel deeply personal — but it is not a reflection of your worth, your professionalism, or your capability. The market values Chartered Accountants immensely, and opportunities remain strong across practice, industry, and financial services. Most importantly, you do not have to navigate this transition alone, there is support available. Chartered Accountants Ireland is here to help you rebuild confidence, reposition your strengths, and move into the next stage of your career with clarity and purpose. Your career is full of potential, and the careers team at Chartered Accountants Ireland are here to help you every step of the way.

Introduction The Economic Crime and Corporate Transparency Act  (ECCTA) which was passed in 2023 continues to bring legal change in the UK. ECCTA introduced identity verification requirements so that UK Companies House will know the identity of anyone setting up, running ,owning or controlling a company in the UK. As part of those changes, ECCTA also introduced the ACSP regime into UK law . A few  strands of the regime, including registration as an ACSP and performing verification and filing are considered in this article. We also consider some challenges which have arisen for our member firms in cases where they are not eligible to register as an ACSP, and we explore further if there are any solutions member firms can adopt. ACSPs :Verification and filing Since 18th November 2025 company directors and people with significant control (PSCs) are legally required to verify their identity under ECCTA. A 12-month transition period is now in place for existing directors and PSCs to comply with the new identity verification requirements by November 2026. The date during the transition period by which directors/PSCs must verify will depend on various factors. This includes whether they are a new director, in which case  they must comply before their registration or appointment as a new director. Existing directors or PSCs must comply based on the company confirmation statement due date during the transition period (and compliance by November 2026 is required). Failure to comply with identity verification requirements on time is an offence. Directors and PSCs can (1) verify themselves directly with Companies House or (2) verify by using an ACSP. Firms which are eligible to register with Companies House as an ACSP (see further below) have been able to register as ACSPs since 18 March 2025. If an accountancy firm  wants to verify its client company directors or PSCs then it must be registered now as an ACSP . Currently there is no change to filing procedures for Companies House and firms can continue to file documents with Companies House in the usual way for their clients without being registered as an ACSP. This will change later in 2026 . In January 2026, Companies House indicated that from no earlier than November 2026, firms will need to be registered as an ACSP to be able to file on behalf of clients. What firms can register with Companies House as an ACSP To become an ACSP, a firm must be supervised within the UK under the UK's Money Laundering Regulations 2017 (the Regulations) by a relevant Anti-Money Laundering (AML) supervisory body. See further details in the following paragraph. What if you cannot register with Companies House as an ACSP The roll out of identity verification and the ACSP regime has given rise to an issue for some Chartered Accountants Ireland member firms which are not AML supervised in the UK . Schedule 1 of the Regulations lists Chartered Accountants Ireland as an AML supervisory authority in the UK in relation to certain "relevant persons", namely relevant persons who are members of the Institute or who are regulated or supervised by it (Regulation 7). The Regulations apply to relevant persons acting in the course of business carried on by them in the United Kingdom. For the purposes of the Regulations a relevant person is to be regarded as carrying on business in the UK where their registered office is in the UK and the day-to-day management of the carrying on of the business is the responsibility of that office, or another establishment in the UK (Regulation 9). Republic of Ireland registered firms may have clients for whom they need to file with Companies House, but if the member firm is supervised for AML purposes in Ireland, not the UK under the Regulations then it is not eligible to register as an ACSP under the legislation as it stands.  In July 2025, the Institute made a representation to the UK Secretary of State for Business and Trade about this issue and for a change in the law to allow Irish AML supervised firms to apply to register as ACSPs. The issue has not yet been resolved to date , and the Institute continues to advocate for this change. If a member firm cannot register because it is not UK AML supervised (firms can check their status with the Institute ) then it might consider putting an arrangement in place with a third party registered  ACSP to carry out verification or filing work on behalf of its clients. If this option is used by member firms, it is considered outsourcing and appropriate outsourcing controls should be implemented by member firms including (1) performance of due diligence regarding the third party registered ACSP prior to appointment, (2) establishment of an outsourcing agreement with the third party ACSP including arrangements regarding information sharing requirements (3) post appointment, the member firm should perform on-going oversight of verification and/or filing activities performed by the third party ACSP on its behalf. The Institute does not endorse or recommend third party ACSPs and we urge members who are considering this route to give careful consideration to the guidance issued by Companies House on the list of ACSPs which it maintains . Members should study the article in full. Please note some of the highlights: the list is not a complete list of all registered ACSPs , it is not updated on a set schedule by Companies House so it may be incomplete or out of date. In addition , before a member  uses a third party ACSP they should always check that the ACSP is not on the list of ceased or suspended ACSPs. The work involved in verification to Companies House by an ACSP  An eligible firm may be considering expanding its offering by registering as an ACSP and taking on new business of verifying directors/PSCs for companies . Before undertaking this work, firms should satisfy themselves as to what is involved. For an ACSP to verify a client , Companies House requires ACSPs to have completed identity checks that meet the Companies House identity verification standard. It is important to note that these are different to customer due diligence checks to prevent money laundering. You can click to read guidance on how to meet Companies House identity verification standard. This includes asking for information about the person, getting  evidence to verify the person’s identity and the documents which can be used as evidence. It also covers the checking of identity documents either electronically by identification document validation technology (IDVT) or checking by a person . If this checking is by a person they must be trained in detecting false documents and be familiar with the guidance on examining identity documents to detect basic forgeries. The requirements to verify documents ,laid out in the guidance, is a significant step up from what is acceptable under anti money laundering  legislation. These checks and verifications will take time and may involve investment in technology or upskilling of people. All of this has  cost implications and will impact those practices which decide to register as ACSPs. Such firms must enhance their procedures and training and plan for this uplift in good time. Acting as an ACSP and performing verification and identity checking may be viable for a firm’s existing clients where the firm already knows much about the client . However , firms must give some pause for consideration of whether there is merit and the cost effectiveness of registering as an  ACSP to take on new business versus the risks which could potentially exist with this new business . Accountancy  firms  should perform their own risk assessment when deciding if they will take on this new business and firms should also ensure that the service is covered under their PII policy. Reminder to member firms to register as an ACSP If an eligible firm is willing to undertake the work involved in being an ACSP and is planning to verify the identity of its client directors and PSCs or wishes going forward to file information at Companies House on behalf of clients (or both) , it must  register to be an ACSP. Eligible firms are encouraged to register now and you can click to read more about how to register as a Companies House authorised corporate service provider and  Applying to register as a Companies House authorised agent - GOV.UK Firms are reminded that - To register you must be supervised for AML in the UK, - When completing the application process, you will be asked to provide your firm identity number, that will be your Institute firm number. Please ensure that the firm’s business name, address and any trading names provided to Companies House match what is recorded with the Institute, otherwise your application may be delayed, -A member’s name and membership number should not be used as the Institute’s authorisation for AML supervision is granted to firms not individuals , -if a sole practitioner is applying for authorisation, please use the unincorporated firm option, - You will be asked to complete identity verification as part of the application process, - There will be a registration fee of £55, payable to Companies House, - Once you are registered, you will be provided with a new digital account and unique identity number. This will allow you to file information and complete identity verification for your clients. This information is provided as resources and information only and nothing in these pages purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the pages. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of these pages, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained in these pages.  

The Pensions Research Accountants Group (PRAG) has finalised its amendments to the Pension Statement of Recommended Practice (Pension SORP). The updated “Statement of Recommended Practice, Financial Reports of Pension Schemes 2026” will be effective for periods commencing on or after 1 January 2026. PRAG are a leading independent industry body working for the development of occupational pension schemes. Their focus is on financial reporting and internal control, and they are the Financial Reporting Council’s (FRC’s) recognised SORP-making body for Pension Schemes. The Pension SORP was last updated in 2018 and since then, the FRC has made amendments to FRS 102. There have also been several industry developments which impact on pension scheme financial reporting as well as changes to pensions legislation and regulations. In 2025, PRAG held a consultation on its proposed amendments to the SORP. A copy of Chartered Accountants Ireland’s response is here. The following resources are available on PRAG’s website; News item discussing the updated Pension SORP Upcoming free webinar A copy of the updated Pension SORP will be available to purchase in due course.

On Friday 6 March the District Societies hosted the second event in the AI Advantage Webinar Series: From Generative AI to Agents – A Practical Guide for Finance Professionals This second webinar in the series featured Fiona Browne, Head of AI at Danske Bank UK providing a practical guide on AI for Finance Professionals. A recording of this webinar is available to view, for free and on demand, HERE A pdf copy of the slides from this presentation is available HERE

From the Professional Accountancy team…... The Institute held three in-person events in early March 2026 in Cork, Galway and Dublin. Sarah Jane O’Keeffe, Partner in Azets, and Derek Wilson, former inspector in the Institute presented at the well-attended events and provided attendees with great practical examples. Attendees were given a comprehensive overview of the Creditors Voluntary Liquidation Handbook  published last year to assist Liquidators in complying with legislative and Statement of Insolvency Practice (SIP)  requirements when conducting statutory meetings, reporting to creditors and approval of remuneration. The sessions also covered compliance matters and potential issues and problems that can arise and how to avoid or best navigate these.  Attendees were also reminded of the resource available from the Corporate Enforcement Authority the form of the Liquidator’s report on conduct of directors in a winding up of an insolvent company. Finally, readers are reminded to check out the Professional Accountancy Team’s Technical Hub which includes a dedicated Insolvency section and to keep up to date with other technical material also. This information is provided as resources and information only and nothing in these pages purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the pages. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of these pages, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained in these pages.  

In this week’s cross-border trading corner, we bring you the latest guidance updates and publications. The most recent Trader Support Service bulletin is also available as is the latest Brexit and Beyond newsletter from the Northern Ireland Assembly EU Affairs team. Miscellaneous guidance updates and publications This week’s miscellaneous guidance updates and publications are as follows: Amendment of CNEN to Heading 2309 — Animal feed (Tariff notice 3), EUR1 and EUR-MED movement certificate, Customs civil penalties, External temporary storage facilities codes for Data Element 5/23 of the Customs Declaration Service, Data Element 2/3: Documents and Other Reference Codes (Union) of the Customs Declaration Service (CDS), Simplified Customs Declaration Process, Notice to exporters 2026/04: transmission issues between LITE/SPIRE and CDS, Internal temporary storage facilities (ITSFs) codes for Data Element 5/23 of the Customs Declaration Service, and Reference Documents for The Customs Tariff (Preferential Trade Arrangements) (EU Exit) Regulations 2020.  

Last week the Institute responded to the consultation Draft Budget 2026-2029/30 and took the opportunity to highlight a range of Northern Ireland (NI) specific issues of tax policy that are impacting on the region. The potential to activate a lower rate of corporation tax for NI also featured in the submission together with the need for affordable childcare. Overall, the submission highlighted that NI’s competitiveness depends on an economy that attracts investment, supports entrepreneurs, enables cross-border labour mobility, and expands workforce participation through affordable childcare. The Institute has therefore urged the Executive to prioritise and consider the following issues as part of its Budget setting process:  The need for progress on entrepreneurial tax supports, How barriers in tax policy are impacting on the all island labour market, The economic benefits of activating the Assembly’s devolved powers on corporation tax, and The need for investment in affordable childcare.  Together these actions would increase productivity, stimulate job creation, and strengthen the region’s long term fiscal sustainability. These should therefore be considered as key objectives in the current budget setting process.  

After a month of no movement, the latest Finance Bill (officially titled Finance (No. 2) Bill 2024-26) has begun moving again following completion of Committee stage last month. A number of  government amendments were tabled last week ahead of report stage and the Bill’s third reading. This is scheduled for Wednesday 11 March 2026 during which these amendments will be debated and are expected to be agreed. The tabled amendments cover a wide variety of areas and include the planned changes to Inheritance Tax for unused pension pots and agricultural property relief and business property relief, the tax treatment of carried interest, and temporary non-residence of individuals, amongst others.

Revenue has made several updates to its guidance on donations to approved sport bodies to reflect a number of Finance Act 2025 changes. The changes are as follows: Paragraph 3 now includes a reference to the inclusion of an approved project number on the certificate issued by the Minister of Culture, Communications and Sport. Paragraph 5.1.2 has been updated as follows: It notes that when a self-assessed individual chooses to either claim the personal tax relief on the donation or to surrender the relief to the approved sports body, this decision is irrevocable, when claiming the relief personally the individual must provide the approved project number and (if available) the unique receipt number on their Form 11, and To clarify that a donation under section 847A TCA 1997 is not taken into account in calculating “net relevant earnings” for purposes of the individual’s maximum tax relieved pension contribution to occupational schemes, RACs, PRSAs and PEPPs. Paragraph 5.2.2 has been updated to give the same updates for PAYE-only taxpayers as are given in Paragraph 5.1.2 for self-assessed individuals. Paragraph 6 has been reviewed to state that receipts issued for relevant donations by an approved sports body must also include the approved project number and unique receipt number.

It may be the time for some spring cleaning, however last week’s Spring Forecast was little more than a light dusting when the Chancellor set out in her speech to the House of Commons details of the latest economic and fiscal forecasts by the Office for Budget Responsibility (OBR). Just days after conflict erupted again in the Middle East, one could be forgiven for arguing that the forecasts are already out of date, albeit the OBR did recognise in its forecasts that significant risks from the conflict could impact the UK economy. Nevertheless, last week the Chancellor kept to her pledge that there would be no tax or policy announcements on the day of the forecast. However, in her speech the Chancellor highlighted that her second Mais lecture, which is expected to take place next week, will set out three major choices ‘that will determine the course of our economy into the future’. The Institute reacted to the Spring Forecast in a Press Release which overall calls on the UK Government to address the tax barriers that are hampering business growth in the UK. After the fiasco in November when the OBR’s economic and fiscal outlook was leaked before the Chancellor’s Autumn 2025 Budget speech, HM Treasury (HMT) was taking no chances that this would happen again when they published the OBR’s forecasts first on GOV.UK. This may mean a permanent move for future fiscal events by HMT to publish the OBR’s forecasts on GOV.UK. The Institute for Fiscal Studies and Institute for Government have both published their responses to the Spring Forecast. Meanwhile, the Treasury Committee has opened an inquiry into the Spring Forecast, with the Chancellor scheduled to provide oral evidence later this week. In other fiscal events news, the House of Commons Library has published an updated research briefing on the Budget and the annual Finance Bill. The briefing examines the way that Parliament scrutinises the Government’s proposals for taxation set out in the annual Budget statement. A research briefing has also been published by the Library on the Spring Forecast. On the devolved nations front, last week the Scottish Government published the Scottish Budget which sets out its proposed spending and tax plans for 2026/27 as presented to Holyrood. 

Revenue has updated its guidance on Expression of Doubt (Full Self-Assessment ) IT/CT/CGT with an additional section outlining that in cases where a taxpayer has made a genuine expression of doubt, the extended tax due date applies to the matter on which doubt has been expressed. A Finance Act 2025 change provides that the due date for the payment of tax is to be determined in isolation on a second or subsequent amendment of the assessment. The means that where an assessment is amended for the first time after a genuine expression of doubt and that assessment is subsequently amended again for whatever reason, the tax due and payable will not benefit from the extended due date for payment under 949AU(2) TCA 1997 and instead reverts to the original due date. Interest and penalties, where applicable, will also be applied from the original due date. Section four now incorporates material previously contained in a footnote, explaining that expressions of doubt are not available where a chargeable person is unsure of an individual’s employed or self‑employed status.