Our member feature in My Tax Journey this month is Sinéad Colreavy. Sinéad grew up in Portmarnock, Dublin and graduated in Accounting and Finance in Dublin City University. She started her career as a tax trainee in 2000. Sinéad joined EY in 2010 and went on to promotion as Partner in October 2020. Sinéad works with a wide range of banking, capital markets and asset management clients assisting and challenging them to think of new ways to manage their local and international tax risk. Sinéad is a member of Chartered Accountants Ireland and the Irish Tax Institute and is co-chair of Irish Funds International Tax Committee and vice-chair of basis.point disbursement committee.
How has your work and home life changed since the onset of the coronavirus pandemic?
Like many, my work life has totally changed to remote working over the past year. However, I was very thankful that I could work from home. I’m not sure how I would have coped if I had no work and was confined to my 2k! I miss the structure of going into the office, the social interaction and meeting face to face with my team and clients. I’ve always been pretty good at separating work from home. However, it has been harder in the pandemic, simple things like taking zoom calls in my leggings blurs the separation between home and work. I try to keep to a routine, get out before logging on and get out again after logging off. My home life seems like a bit of a blur when I look back over the last year, the usual family events, travel, holidays, social life, the things we plan and look forward to are not there. Saying that, I have spent more time with family and friends and have had some great covid times.
What pandemic-related challenges are your clients facing?
A lot of my clients are looking at their workforce and the related tax implications of working remotely and abroad. It is clear what started as a response to the pandemic has now become more permanent and remote working is certainly going to be key to many employers operating models post pandemic.
What do you see as the biggest challenge and opportunity for the FDI sector in Ireland on foot of international tax reform at EU and OECD level?
Ireland has historically used tax to attract investment in order to create employment. International tax reform has real potential to impact on Ireland’s competitiveness. I believe Ireland has managed international tax reform well and is well positioned to adapt to the further developments being implemented in the EU and globally. We have a low corporate tax rate with an open and transparent tax system, and this is recognised internationally. Ireland is firm in its stated position on the need for more globally coordinated policy responses. The reform has meant that many international organisations are increasing their substance and footprint in Ireland. The full impact of the UK's departure from the EU will take years to materialise and we are likely to feel the loss of support in connection with tax reform in the EU. Ireland must be adaptable to ensure that it continues to be one of the most attractive locations for foreign direct investment and play its part in shaping the international tax landscape of the future.
What has changed for the better in the profession since you started working as a professional?
One of the biggest things for me has been the shift towards diversity and inclusion in professional services. It is firmly established that a diverse team brings better results. Better financial results as well as better well-being for employees. From my own experience, EY’s internal focus and accountability for diversification and inclusion has provided me with opportunities to develop professionally and personally. I strongly believe that a diverse team promotes better problem solving, improves work experience, builds better working teams and importantly allows individuals to bring their whole selves to work.
What is the most rewarding aspect of your role?
For me, the development of people is a really rewarding part of my role. As a leader I feel it is important to empower people to allow them to achieve their full potential. I was fortunate to benefit from leaders who saw potential in me and invested time in me to make that happen. I try to give opportunities to help people stretch and develop skills. My approach is to gently push people outside of their comfort zone, with encouragement and support. I believe challenging people is important as it is how they develop new skills and gain confidence in their own abilities. I am a big advocate of social inclusion and seeing people succeed in roles they thought they were not able for gives me a great sense of pride. I also take on mentoring roles for younger females in my industry and see this as an important, as well as rewarding role.
What tax policy issue would you most wish the Government to tackle in 2021?
I would love to see the Government take on climate change through tax policy. Climate change and green investing will be key to our continued growth and development internationally. It would be great to see Ireland being bold and leading the way on climate change through tax policy and attracting sustainable finance to Ireland.
LOADING...