Wednesday’s UK Autumn Budget and the second for Chancellor of the Exchequer Rachel Reeves, as predicted, featured tax rises, £26 billion in total to be exact (down slightly from £32 billion in the 2024 Autumn Budget). These are mostly financing additional spending and providing additional fiscal headroom. According to the Chancellor, the Budget will build ‘fiscal headroom’ of almost £22 billion, up from £9.9 billion after last year’s Budget. The rises come on the back of the Office for Budget Responsibility’s downgraded productivity forecast, which had been published online early by mistake and saw Parliamentarians poring over the document on their phones as they sat in the House of Commons chamber before the Chancellor stood up to speak. Disappointingly, the only mitigation that has been announced to the controversial changes to agricultural property relief and business property relief which take effect from next April is that the £1 million allowance will be transferable between spouses and civil partners. However this was amongst our recommendations on this issue made here, here and most recently in our evidence submission to the House of Lords Finance Bill Sub-Committee inquiry into draft Finance Bill 2025/26. This, and a range of other mitigations, were also highlighted by the Institute’s UK Tax Manager, Leontia Doran, in last month’s oral evidence session to that Committee. Whilst this is a welcome mitigation, it does not go far enough to ensure that the changes are targeted at wealthier farms and businesses. Further, there have been no transitional measures announced to protect older farmers in particular. The Institute will continue to call for a special derogation from these changes for Northern Ireland. You can read our full reaction to the Budget in our Press Release and visit our UK Autumn Budget 2025 page here. Buried in the Budget publications was the news that in 2026/27 there will be no late submission penalties for Making Tax Digital (MTD) for income tax quarterly updates. The Institute has been continually calling for the Government to announce a soft landing for MTD and did so as recently as last month in our Pre-Budget submission and in a letter in September to HMRC’s new CEO. Also hidden on page 110 of the Budget Red Book was the news that the Government will not regulate tax advisers. Instead it “will work in partnership with the sector to raise standards in the tax advice market”. What this precisely means is not yet clear, however this a welcome confirmation that our members are not facing dual regulation which we recommended in our response to the consultation ‘Raising standards in the tax advice market – strengthening the regulatory framework and improving registration’ in 2024. On the personal taxes side, several thresholds will continue to be frozen until 5 April 2031, and, commencing from April 2026, there will be an increase to the income tax rates for dividends of 2 percent for both the basic and higher rate, followed by a 2 percent increase for all rate bands for property and savings income from April 2027. This will apply in England, Wales, and Northern Ireland. On the business front, e-invoicing will be mandatory for business from April 2029. There are also proposals to require income tax Self-Assessment taxpayers with PAYE income to pay more of their tax liability in-year via PAYE from April 2029. The Northern Ireland Executive will receive an additional £240 million resource funding and £130 million capital funding through the operation of the Barnett formula. The Government also announced the proposed sector, geography, and co-investment for the Northern Ireland Enhanced Investment Zone. And to boost trade between Northern Ireland and Great Britain, £16.55 million will be provided over three years from 2026/27 to “create a ‘one stop shop’ support service that will help businesses navigate the Windsor Framework, unlock opportunities for trading across the UK internal market, and enable businesses based in Northern Ireland to take advantage of their access to UK and EU markets”. The Institute will continue its campaign for a lower rate of corporation tax for Northern Ireland and last week wrote to the Exchequer Secretary to the Treasury ahead of the Budget on this issue. The publications of HMRC and HM Treasury set out the Budget in full detail. More detail on the key tax announcements will feature in next Monday’s edition of Chartered Accountants Tax News.

Today’s Autumn Budget and the second for Chancellor of the Exchequer Rachel Reeves, as predicted, featured tax rises, £26 billion in total to be exact (down slightly from £32 billion in the last Budget), which appear to be mostly financing additional spending and providing additional fiscal headroom. According to the Chancellor, the Budget will build ‘fiscal headroom’ of almost £22 billion, up from £9.9 billion after last year’s Budget. The rises come on the back of the Office for Budget Responsibility’s downgraded productivity forecast, which had been published online early by mistake and saw Parliamentarians poring over the document on their phones as they sat in the House of Commons chamber before the Chancellor stood up to speak. Disappointingly, the only mitigation that has been announced to the controversial changes to agricultural property relief and business property relief is that the £1 million allowance will be transferable between spouses and civil partners, albeit that this was among our recommendations on this issue made here, here and most recently in our evidence submission to the House of Lords Finance Bill Sub-Committee inquiry into draft Finance Bill 2025/26. This, and a range of other mitigations, were also highlighted by the Institute’s UK Tax Manager, Leontia Doran, in last month’s oral evidence session to that Committee. Whilst this is a welcome mitigation, it does not go far enough to ensure the changes are targeted at wealthier farms and businesses. Further, there have been none transitional measures announced to protect older farmers in particular. The Institute will continue to call for a special derogation from these changes for Northern Ireland. You can read our full reaction to the Budget in our Press Release. Buried in the Budget publications was also the news that in 2026/27 there will be no late submission penalties for Making Tax Digital (MTD) for income tax quarterly updates. The Institute has been continually calling for the Government to announce a soft landing for MTD and did so as recently as last month in our Pre-Budget submission and in a letter in September to HMRC’s new CEO. Also hidden on page 110 of the Budget Red Book was the news that the Government will not regulate tax advisers. What this precisely means is not yet clear, however this a welcome confirmation that our members are not facing dual regulation which we recommended in our response to the consultation ‘Raising standards in the tax advice market – strengthening the regulatory framework and improving registration’ in 2024. On the personal taxes side, several thresholds will continue to be frozen until 5 April 2031, and, commencing from April 2026, there will be an increase to the income tax rates for dividends of 2 percent for both the basic and higher rate, followed by a 2 percent increase for all rate bands for property and savings income from April 2027. This will apply in England, Wales, and Northern Ireland. On the business front, e-invoicing will be mandatory for business from April 2029. There are also proposals to require income tax Self-Assessment taxpayers with PAYE income to pay more of their tax liability in-year via PAYE from April 2029. The Northern Ireland Executive will receive an additional £240 million resource funding and £130 million capital funding through the operation of the Barnett formula. The Government also announced the proposed sector, geography, and co-investment for the Northern Ireland Enhanced Investment Zone. And to boost trade between Northern Ireland and Great Britain, £16.55 million will be provided over three years from 2026/27 to “create a ‘one stop shop’ support service that will help businesses navigate the Windsor Framework, unlock opportunities for trading across the UK internal market, and enable businesses based in Northern Ireland to take advantage of their access to UK and EU markets”. The Institute will continue its campaign for a lower rate of corporation tax for Northern Ireland and last week wrote to the Exchequer Secretary to the Treasury ahead of the Budget on this issue. The analysis herein is based on the publications of HMRC and HM Treasury. More detail on the key tax announcements features in the remainder of this newsletter and will continue in next Monday’s edition of Chartered Accountants Tax News.

Personal taxes measures It was again confirmed that there will not be any increases in the basic, higher, or additional thresholds for income tax, or the rates of employee National Insurance Contributions (NICs). However, the freeze on certain personal tax thresholds will now continue to 2031 and the rates of income tax will increase by 2 percent for property, savings, and dividend income, commencing for dividend income received from April 2026. The deep freeze continues…. The expected continued freeze on personal tax thresholds was confirmed. The income tax thresholds and the equivalent NICs thresholds for employees and self-employed individuals will stay at their current levels for a further three years until 5 April 2031. The inheritance tax nil rate bands are also frozen for a further year to the same date. The £5,000 secondary NICs threshold for employers will also be frozen until 5 April 2031 after dropping from £9,100 from 6 April 2025. Property, savings, and dividend income From 6 April 2026, the basic rate of tax for dividend income will increase from 8.75 percent to 10.75 percent, and the higher rate will increase from 33.75 percent to 35.75 percent. There will be no change to the dividend additional rate which will remain at 39.35 percent. For both property income and savings income, the 2 percent increases will take effect from 6 April 2027.The property basic rate will be 22 percent, the higher rate will be 42 percent, and the additional rate will be 47 percent. The tax rates on savings income will also increase by 2 percent points across all bands from 6 April 2027 which would appear to include the 0 percent band for the first £5,000 of savings income which would increase to 2 percent. These increases are likely to act as a disincentive to investment, and for property income will most likely be passed on by landlords to their tenants via higher rents. Earlier self-assessment payments From April 2029, Self-Assessment (SA) taxpayers with PAYE income will be required to pay more of their SA liability in-year via PAYE. The Government will publish a consultation in early 2026 on delivering this change, and also on timelier tax payment for those with only SA income. This changes comes as a surprise given discussions in the last few years in the context of Making Tax Digital that the Government was not seeking to target earlier payments of SA tax.

A soft landing for Making Tax Digital (MTD) for income tax, no changes to corporation tax rates, e-invoicing from 2029, more timely payments of VAT and PAYE, and a pensions salary sacrifice cap were the main features with some minor changes to capital allowances. MTD for income tax As lobbied for by the Institute, the Government announced a soft landing for MTD for income tax. Late submission penalties for quarterly updates will not apply during the 2026/27 tax year. However, from 6 April 2027 the new penalty regime will apply for late submission and late payments for all taxpayers. The penalties due for late payment of income tax self-assessment and VAT will increase from 1 April 2027. These changes will be legislated for via secondary legislation. E-invoicing from 2029 From April 2029, all VAT invoices will need to be issued in a specified electronic format. The Government will work with stakeholders to develop an implementation roadmap to be published at Budget 2026. The decision to mandate from April 2029 follows the announcement on e-invoicing in Ireland’s most recent Budget when, on 8 October 2025 after Minister Donohoe’s Budget Speech announcement, Revenue’s paper “Implementation of eInvoicing in Ireland” was published. VAT and PAYE A consultation will be published in early 2026 to consider ways that VAT and PAYE liabilities can be paid promptly without the taxpayer falling behind on payments, including requiring more tax payments by direct debit. Pensions salary sacrifice cap From 6 April 2029, both employer and employee NICs will apply on pension contributions above £2,000 per annum made via salary sacrifice. These changes will be legislated for through primary and secondary legislation which will be introduced in due course. At present, what exactly will be classed as salary sacrifice requires clarification. However again, this is another change which will disincentivise saving for retirement and reduce the attractiveness of employer contributions. Capital allowances From April 2026, the rate of writing down allowances in the main pool will be reduced from 18 percent to 14 percent. However, from 1 January 2026 a new first-year allowance (FYA) of 40 percent will be available for main‑rate assets. Cars, second-hand assets and assets for leasing overseas will not be eligible. The benefit this new FYA will have remains to be seen given that 100 relief is already available for all main pool expenditure via the annual investment allowance limit of £1 million and with unlimited 100 percent relief available for new main pool expenditure via full expensing.    

Chartered Accountants Ireland has reiterated its concerns about the proposed changes to agricultural property relief (APR) and business property relief (BPR), due to come into effect in April 2026, and the disproportionate impact these changes will have on Northern Ireland. The largest professional body on the island of Ireland that represents over 5,500 members in Northern Ireland has advocated extensively for a specific carve out from the rules to be included in the draft legislation to protect Northern Ireland’s economy. UK Tax Manager with Chartered Accountants Ireland, Leontia Doran said  “The proposed changes are already having massive ripple effects across the UK economy, but most notably for the farming community. These changes are disappointing and particularly damaging in Northern Ireland where family-owned businesses and farms are the heartbeat of the economy. 84% of businesses here are either family owned or managed, and they support over 325,000 jobs.  “A carve-out is needed to exempt genuine farming activity and protect family-owned businesses in NI. The Government could have included a threshold which would have continued to provide smaller farms and businesses with 100% relief if their farming and/or business assets comprise a minimum proportion of their overall estate. It is also disappointing to see that no transitional measures have been announced to protect older taxpayers. The announcement that any unused allowance will be transferable between spouses is welcome. This is the minimum that could have been done to remove the legislation’s cliff edge effect for smaller farms and businesses. More is needed to support genuine farming activity and family-owned businesses here in NI.” Personal tax thresholds The Chancellor has confirmed that the income tax and National Insurance Contributions (NICs) thresholds will remain frozen at their current level until 2031. Doran noted “The continuing freeze on personal tax thresholds is having an ever-increasing effect on people’s net after tax income and is expected to bring many more taxpayers into the higher rate tax bracket by 2030/31, a phenomenon known as "fiscal drag". This is likely to have a strong disincentive effect on decisions to take on extra work and will reduce household spending power. Coupled with the changes to employers’ NICs from April 2025, this is likely to lead to a more stagnant labour market, damaging productivity further.  “Policy measures are seriously needed to drive Northern Ireland’s productivity, the profitability of its businesses, and by extension boost both corporation and income tax takes so that we can make this a thriving place to live and work for all our citizens.” Northern Ireland Corporation Tax To unlock the economic potential of the region and its dual market access, and drive FDI, the Institute has been engaged in a campaign for a reduced rate of corporation tax which is more closely aligned with the rate across the rest of the island.    Leontia Doran concluded “At a time when the Government has been grappling with how to grow the economy, it might initially appear counter-intuitive to seek a reduction in the corporation tax rate in Northern Ireland. However, a reduction in this rate would in the longer run ultimately increase tax take by driving the creation of better jobs and incentivising business growth.  “Add to this higher value FDI and the gains for Northern Ireland would set a real benchmark for what can be achieved with ambitious tax policies. This is something our members want and which we will continue to advocate for in 2026.”  

Artificial Intelligence (AI) is increasingly being used in recruitment processes to modernise candidate screening, assess skills, and predict job fit. AI-driven interviews can include automated video assessments, chatbot interactions, and algorithm-based scoring. Preparing for such interviews requires understanding the technology, adapting communication strategies, and ensuring compliance with best practices. Understand AI in recruitment AI tools in interviews typically perform: Video analysis: evaluates facial expressions, tone, and speech patterns. Natural Language Processing (NLP): assesses word choice, clarity, and relevance. Skill testing: automated coding challenges or scenario-based questions. Predictive analytics: matches candidate profiles to job requirements. Tip: research the specific AI platform used by the employer. Prepare for video-based AI interviews Technical setup: Ensure a stable internet connection. Use a high-quality webcam and microphone. Test lighting and background for clarity. Presentation: Dress professionally. Maintain eye contact with the camera. Speak clearly and at a moderate pace. Practice: Record yourself answering common questions. Use AI-based mock interview tools to simulate the experience. Optimize communication for AI Structured responses: Use the STAR method (Situation, Task, Action, Result) for behavioural questions. Keyword alignment: Incorporate relevant industry and role-specific keywords. Avoid ambiguity: AI systems favour clear, concise answers over vague statements. Demonstrate emotional intelligence While AI may analyse tone and sentiment, authenticity matters: Show enthusiasm without exaggeration. Maintain a calm and confident disposition. Prepare for gamified or cognitive assessments Some AI-driven processes include: Problem-solving games. Personality assessments. Tip: practice logic puzzles and familiarise yourself with game-based assessments. Address bias and fairness Be aware that AI systems can have biases. If concerned, ask the recruiter about fairness measures and appeal processes. Post-interview follow-up Send a thank-you email to the recruiter. Reiterate interest and highlight key strengths. Conclusion AI-enhanced interviews require both traditional preparation and technical awareness. By understanding the tools, practicing structured responses, and ensuring a professional setup, candidates can maximize their chances of success.

Artificial Intelligence (AI) is no longer a science fiction, it’s a present-day reality redesigning recruitment practices across a variety of industries. One of the most significant areas of transformation is the job interview process. From initial screening to final interviews, AI is influencing how candidates are assessed and how employers make decisions. But what does this mean for hiring practices, candidate experience, and fairness? Let’s explore. AI-powered screening and scheduling Recruitment teams would traditionally spend hours reviewing resumes and coordinating interview schedules. AI tools now automate these tasks, using algorithms to: Scan resumes for keywords and skills aligned with job descriptions. Rank candidates based on experience and qualifications. Schedule interviews through integrated calendar systems. This efficiency reduces time-to-hire and frees recruiters to focus on strategic decisions. However, it also raises questions about whether keyword-based filtering overlooks unconventional but qualified candidates. This is one of the reasons why tailoring your CV prior to job applications is more important than ever. Video interview analysis AI-driven platforms are now recording interviews using machine learning. These systems assess: Tone and sentiment to gauge enthusiasm. Speech patterns for clarity, confidence, and pacing. Facial expressions and micro-gestures to infer engagement. While these understandings can help identify strong verbal communicators, critics argue that such analysis may disadvantage neurodiverse candidates or those from cultures with different communication norms. Also another potential pool of disadvantaged candidates are those who are speaking in their non-native language. Chatbots and pre-interview engagement AI chatbots are increasingly used to: Answer candidate FAQs prior to the interview taking place. Provide interview preparation tips. Conduct preliminary Q&A sessions. This creates a more responsive candidate experience and reduces recruiter workload. However, candidates often wonder whether they’re interacting with a human or a bot, which can affect trust, as many of us have experienced in when dealing with customer services chatbots. Bias reduction—or amplification One of AI’s core promises is reducing human bias by focusing on objective data. Yet, algorithms trained on historical hiring data can perpetuate existing biases, as those algorithms are developed and based on human process. For example: If past hires favoured certain demographics, AI may replicate that pattern. Language models might misinterpret dialects or accents as mentioned when discussing the AI screening process. To mitigate this, companies must implement ethical AI practices, including: Regular audits for bias. Transparent criteria for decision-making. Diverse training datasets. However, as it has been shown these types of audits can be difficult to conduct, as a company may not be willing to face that it has inherited biases. Candidate perception and trust Many candidates experience discomfort when they know an algorithm or AI system is evaluating them. This unease often stems from a few key concerns: Lack of transparency Candidates may not understand how the system works, what criteria it uses, or whether it’s fair. This uncertainty can feel intimidating. Fear of bias People worry that automated systems might reinforce biases or overlook qualities that a human interviewer would appreciate, such as personality or cultural fit. Loss of human connection Interviews are traditionally relational. When technology replaces or mediates that interaction, candidates can feel depersonalized. Perceived inflexibility Machines are seen as rigid—unable to interpret nuance, humour, or creativity the way humans can. The future of interviews AI will continue to evolve, integrating with: Virtual Reality (VR) for immersive job simulations. Gamified assessments to measure problem-solving and creativity. Predictive analytics to forecast long-term performance. Despite these advances, human reasoning remains essential for evaluating cultural fit, emotional intelligence, and nuanced communication, qualities that algorithms struggle to measure accurately. Key takeaways AI enhances efficiency but must be implemented ethically. Transparency and fairness are vital to maintain candidate trust. Human oversight will remain indispensable in final hiring decisions. AI cannot: Research the role and the organisation as effectively as you can. AI may provide information that is inaccurate or unrelated. You must research thoroughly yourself. If AI does offer information, be critical of this, can you check this is up to date? Provide personalised, informed feedback. AI output may be based on out-of-date information, it is often generic, and it can’t reflect on how your personal employability aligns with the role. Be aware that employers can use AI to see what information it generates about them. It is important that you do not directly copy material that AI produces. Implement your own insights. Final thought AI is not replacing interviews—it’s redefining them. Organisations that balance technological efficiency with human empathy will lead the way in creating fair, inclusive, and effective hiring processes.

In November 2025, the Financial Conduct Authority (FCA), published findings from a 2025 FCA multi-firm review focusing on business-wide risk assessment and customer risk assessment processes. The FCA fed back its findings on firms identifying, understanding and assessing risk, mitigating risk and managing risk. The findings highlight good and poor practice to help firms reflect on how they are meeting the existing risk assessment requirements. While firms involved in this review are part of FCA regulated population such as building societies, e-money payments firms and wealth management firms, there are general learnings which can be taken from the findings. 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.      

On Wednesday at 12:30pm Chancellor Rachel Reeves will deliver her second Budget with much speculation that tax rises and Government department spending cuts will feature for the second time. But will the Chancellor break the Government’s manifesto pledge? In just two days’ time we will know all the details. After last year’s Budget the Chancellor had £9 billion "headroom" in case of tougher times, which certainly have come to pass since President Trump took up office in January. On Wednesday the Institute will be analysing and reacting to the Budget with full analysis to follow in next Monday’s Chartered Accountants Tax News. The Institute’s Pre-Budget submission is also available to read. Ahead of the Budget: HM Treasury published the transcript of what is referred to as a scene setter speech delivered by the Chancellor earlier this month, The House of Commons Library published an economic insight article about how slow economic growth could impact the Chancellor’s Budget decisions, The Federation of Small Businesses is urging the Government to ease cost pressures and back entrepreneurship at the Budget, The House of Commons Treasury Committee published details of an evidence session examining the issues facing the Chancellor ahead of the Budget, and The House of Lords recently debated the impact of government economic and taxation policies on jobs, growth, and prosperity, and As part of its inquiry into the draft Finance Bill Clauses, the House of Lords Economic Affairs Finance Bill Sub-Committee held further evidence sessions on 27 October, 3 November and 10 November after the Institute’s UK Tax Manager, Leontia Doran, delivered oral evidence on the changes to agricultural property relief and business property relief to the Committee on 20 October. Ahead of the Scottish Budget which will take place on the later date of 13 January 2026, the Scottish Parliament has published the Finance and Public Administration Committee’s report on pre-budget 2026/27 scrutiny. Revenue Scotland has also published a summary of a round table event held with the Centre for Public Policy to discuss devolution of tax in Scotland. The round table, which is part of a series of events in a year-long celebration to mark Revenue Scotland’s tenth anniversary took place after the Scottish Tax Conference in September. In Wales, the draft 2026/27 Budget was published in October and the detailed draft Budget was published earlier this month, with the final Budget expected to be published on 20 January 2026.  

Last month HMRC confirmed that its new research and development (R&D) expert advisory panel has been established with the appointment of six independent industry specialists. HMRC has also recently published a new tool that can be used to check if a company has undertaken qualifying R&D before a claim for R&D tax relief is made. The new advisory panel is known as the RDEAP and its aim is to provide sectoral insight and guidance to support the administration of R&D tax reliefs. It meets quarterly and will contribute to HMRC communications, guidance, and the strategic understanding of innovation across sectors. The Chair and Secretariat of the RDEAP are from HMRC’s Corporation Tax Innovation and Growth team. Other HMRC representatives, and representatives from other government departments may be invited to the RDEAP meetings by invitation. The RDEAP is advisory only so does not have decision-making authority, though it may make recommendations to existing governance and decision-making bodies as appropriate. The newly published R&D tool takes users though a number of the key tests which define qualifying R&D for tax purposes. Explanations and links to further guidance are provided. According to HMRC, a competent professional will be needed to help answer some of the questions. Once all of the questions have been answered, HMRC says that the tool will give the user a clear indication of whether or not the project is qualifying R&D.   It is recommended that results are saved and a record is kept of the information used to answer each question to assist with making claims. In the event of a compliance check HMRC says that it is “unlikely to disagree” that a project involves R&D for tax purposes if the answers given when using the tool were “based on your project’s facts and you can clearly support and explain them”. We have also been advised that HMRC does not store or use any of information provided when using the tool.  

In this week’s detailed miscellaneous updates which you can read more about below, HMRC are holding a series of webinars for employers and direct recovery of debts has been restarted in a test and learn phase. A new online service is now available to pay the High Income Child Benefit charge via PAYE and HMRC has published a statement setting out the standards that it expects of intermediaries and the steps it will take to tackle the minority of them who cause harm to the UK tax system. In other news this week: The UK has ranked 32nd overall (and 37th on property taxes) out of the 38 OECD member countries in the 2025 International Tax Competitiveness Index, HMRC has published Revenue and Customs Brief 6 (2025): VAT deduction on insurance intermediary services supplied outside the UK, which sets out HMRC’s policy following the First Tier Tribunal decision in Hastings Insurance Service LTD [2025] UKFTT 275 (TC), The Institute for Fiscal Studies has published How are frozen tax thresholds reshaping who pays personal taxes? and Changes to departmental spending at the upcoming Budget, HMRC advises that a successful fix for the Class 2 National Insurance Contributions issue was deployed at the end of September. This is confirmed in the latest Agent Update, HMRC is holding a webinar on 2 December on Transfer of Assets Abroad, HMRCs approach to The Motive Defence,  The latest schedule of HMRC Talking Points live and recorded webinars for tax agents are available for booking. Spaces are limited, so take a look now and save your place, and Check HMRC’s online services availability page for details of planned downtime and the online services affected. Upcoming webinars for employers Whether you’re reimbursing employees using their own vehicles at approved mileage rates, providing company cars for business travel, or paying statutory maternity or paternity pay, HMRC’s live webinars have you covered. Questions can be asked during the live webinar by using the text box. The following live webinars are available to book: Company cars, vans and fuel, Statutory sick pay, Statutory maternity and paternity pay, and Travel. HMRC restarts direct recovery of debts If an individual or business has a tax debt which remains unpaid despite having the means to pay it, HMRC can recover the funds it is owed directly from the taxpayer’s bank or building society account. These powers, known as direct recovery of debt (DRD), first started in 2015 and were used sparingly before all DRD activity was paused during the COVID-19 pandemic. HMRC has published an updated briefing on DRD. After the announcement made in the 2025 Spring Statement 2025, HMRC recently confirmed that it has restarted DRD in a “test and learn phase”. According to HMRC, DRD was a strong deterrent and the decision to restart activity has been made against its backdrop of efforts to reduce tax debt. Pay the High Income Child Benefit charge (HICBC) online via PAYE HMRC recently launched its new online service for paying the HICBC through PAYE. This was previously announced at the Spring Statement 2025. In order to use the new service, taxpayers first need to de-register from income tax self-assessment which HMRC won’t do automatically. Once this is done, the taxpayer should be able to use the online HICBC PAYE service the next day. HMRC’s approach to intermediary harm HMRC has published a statement outlining the standards it expects of intermediaries (which includes accountants and financial advisers) and the steps it will take to address the minority of intermediaries who cause harm to the tax system. Intermediary is defined as an individual or business that sits between taxpayer and HMRC. The statement says that while most intermediaries provide valuable services, a minority can behave in ways that are harmful, such as misleading the public or using HMRC's rules improperly. In cases of harm, HMRC may take action such as blocking access to its services or criminal action where fraud is involved. Advice for taxpayers on how to choose an intermediary also features.

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 which takes an in-depth look at the House of Lords Northern Ireland Scrutiny Committee’s evidence session on veterinary medicines and the Windsor Framework. The minutes and slides from the 30 September 2025 meeting of HMRC’s Northern Ireland Joint Customs Consultation Committee which the Institute is represented on are available and HMRC has shared a recording of a recent webinar on ICS2 in addition to the FAQs used in the webinar. Miscellaneous guidance updates and publications This week’s miscellaneous guidance updates and publications are as follows: Data Element 2/3: Documents and Other Reference Codes (Union) of the Customs Declaration Service, CDS Declaration Completion Instructions for Imports, Report a problem using the Customs Declaration Service, Reference Documents for The Customs Tariff (Preferential Trade Arrangements) (EU Exit) Regulations 2020, and Get customs data for import and export declarations.

The latest UK tax tidbits features updated guidance on registering for corporation tax and how to make a complaint about HMRC. Special tax rules on foreign travel (490: Chapter 7), Make a complaint about HMRC, Check genuine HMRC contact that uses more than one communication method, Register for Corporation Tax through a dependent agent permanent establishment, Register a non-resident company who disposed of UK property or land for Corporation Tax, Register an unincorporated association for Corporation Tax, Register an offshore property developer for Corporation Tax, Register a non-UK incorporated company for Corporation Tax if you're a UK resident, Find payroll software that is recognised by HMRC, Soft Drinks Industry Levy returns and records (notice 2), Submit your Soft Drinks Industry Levy return, Search the register of customs agents and express operators, Apply for Marriage Allowance by post, Check if an email you've received from HMRC is genuine, Check if a text message you've received from HMRC is genuine, Transfer of residence to the UK, Install Basic PAYE Tools onto a networked computer, Apply to register a pension scheme, Inheritance Tax account (IHT400), Completing your Company Tax Return, Multinational Top-up Tax and Domestic Top-up Tax, Make a qualifying asset holding company notification to HMRC, Request transfer of a VAT registration number, Check the list of businesses and sites registered for Aggregates LevyTop of Form, Employee circumstances that affect payment of Statutory Neonatal Care Pay, Tell an employee that they're not eligible for Statutory Neonatal Care Pay (NEO1), Elect a qualifying company for tax exemption on UK capital gains, Tell HMRC about who is dealing with the estate when someone dies, When National Insurance and PAYE is due on tips, gratuities and service charges (E24), Find payroll software that is recognised by HMRC, Double Taxation Treaty Passport Scheme register, Check genuine HMRC contact that uses more than one communication method, How to complete an Other Interest return, and Other Interest returns.

Welcome to the latest edition of Technical Roundup. In developments since the last edition, in its article entitled ‘DORA Review: Balancing Digital Resilience and simplification’, Accountancy Europe discusses the reasons why the Audit Directive, and not the Digital Operational Resilience Act (DORA), is the most appropriate framework to strengthen digital-resilience requirements for statutory auditors and audit firms.  The Global Reporting Initiative (GRI) has launched a new checklist to help entities align their climate reporting using the GRI standards with the UN’s official approach to setting credible climate commitments, targets and transition plans. Read more on these and other developments that may be of interest to members below. Financial Reporting EFRAG, the European Financial Reporting Advisory Group, has published its October 2025 update. This report summarises the public technical discussions and decisions taken at EFRAG during the month. The comment period for responses to EFRAG’s draft Endorsement Advice for Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures remains open until 28th November 2025. In its Annual Review of Corporate Governance Reporting, the Financial Reporting Council (FRC) has highlighted some reporting trends and practices among 100 UK-listed companies against the 2018 UK Corporate Governance Code. In its Thematic Review “Reporting by the UK’s smaller listed companies”, the FRC examines annual reports from 20 companies listed outside the FRSE 350. The Thematic Review aims to help companies improve their reporting quality in four key areas - Revenue recognition, Cash flow statements, Impairment of non-financial assets and financial instruments - which have historically identified room for improvement. The FRC has published the 2026 UK Taxonomy Suite which incorporates changes to the FRC Taxonomy Suite, Charities Taxonomy, and Irish Taxonomy. The International Accounting Standards Board (IASB) has issued amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates. These changes are intended to clarify how companies should translate financial statements from a non-hyperinflationary currency into a hyperinflationary one. The IASB has published recordings and presentations from its recent Research Forum. Auditing and Assurance The Financial Reporting Council (FRC) has issued International Standard on Sustainability Assurance (UK) 5000, “General Requirements for Sustainability Assurance Engagements”, which provides UK companies, investors and assurance providers with a consistent, internationally aligned assurance standards for voluntary use in sustainability assurance engagements. The Law Society of Ireland has announced that its new online portal for Reporting Accountants to upload an annual or closing reporting accountant’s report for a Solicitor client on to the Law Society’s system is at an advanced stage and is nearly ready to launch. Sustainability The European Parliament has voted in favour of a simplification of the sustainability reporting requirements for European companies. Following the release of the Omnibus proposals in February, there has been much debate and discussion regarding the scope of companies who should be subject to the European Sustainability Reporting Standards, as well as the extent and rigour of these standards. Following these negotiations, the European Parliament has voted in favour of limits which will mean that only businesses with over 1,750 employees and annual turnover of €450 million will be subject to these rules. The CSDDD limits have also been increased to 5,000 employees and turnover of €1.5 billion. GRI, the Global Reporting Initiative, has criticised the simplification noting that the position adopted by the Parliament “is a backward step for the EU – and undermines European leadership on sustainability”. The Global Reporting Initiative (GRI) has launched a new checklist to help entities align their climate reporting using the GRI standards with the UN’s official approach to setting credible climate commitments, targets and transition plans. EFRAG is hosting a conference ‘EFRAG unveils Draft Simplified ESRS: A European Milestone for Sustainability Reporting’ on 4 December 2025.  The schedule includes presentations from expert teams, the launch of the ESRS Knowledge Hub and keynote speeches. The Irish Auditing and Accounting Supervisory Authority (IAASA), in collaboration with the Irish Accounting and Finance Association (IAFA), recently hosted a webinar on CSRD Reporting and Assurance. Accountancy Europe has published its November 2025 Sustainability Update. Accountancy Europe has responded to EFRAG’s VSME Market Acceptance survey. The European Banking Authority (EBA) announced the release of the Network for Greening the Financial System (NGFS) declaration on the economic cost of climate inaction during the 2025 United Nations Climate Change Conference (COP30) in Belém, Brazil. The EBA is an active member of NGFS, which represents a group of central banks and supervisors sharing best practices and contributing to the development of environment and climate risk management in the financial sector. The declaration underscores the mounting macroeconomic and financial risks of delayed climate action and reaffirms the NGFS’s commitment to supporting a well-managed transition to a low-carbon economy. Please refer to following link for a copy of the declaration. Anti-money laundering On 9 December 2025 (09:00 - 12:00) Accountancy Europe is hosting an in-person event in Brussels titled “Beyond compliance – the human cost of money laundering to explore the real-life impacts and human cost of financial crime and discuss how cooperation across sectors can make a tangible difference. Speakers include the EU Commissioner Maria Luís Albuquerque. Readers who may wish to attend can click here for more details and to register. The Financial Conduct Authority (FCA) published findings from a review of risk assessment processes and controls in firms. The findings highlight good and poor practice to help firms reflect on how they are meeting the existing risk assessment requirements. Fraud Central Bank of Ireland issued a warning to consumers about the changing fraud landscape and also launched a campaign to help consumers avoid scams by highlighting how scammers' techniques are evolving including use of social media and digital channels for scams. Common scams now used by financial fraudsters include fake comparison websites, fraudulent recovery scheme scams, investment scams, and use of deepfakes. The CBI has published advice and information for consumers outlining what steps can be taken to verify that the individual or company they are dealing with is real and trustworthy before making any financial decisions or providing personal information.  FraudSMART (a fraud awareness initiative developed by Banking & Payments Federation Ireland (BPFI) in conjunction with member banks), issued a fresh warning to consumers to be on alert as highly convincing investment scams continue to rise, which use AI generated adverts. The Garda National Economic Crime Bureau noted a concerning 21% increase has been recorded in the three months up to October 2025. For pointers on how to avoid investment scams, FraudSMART has also published a 'Spotlight on Investment Scams information leaflet'. Central Bank of Ireland (CBI) The Central Bank of Ireland (CBI) published the second Financial Stability Review report for 2025 outlining that the main risks facing Ireland's financial system include stretched valuations in global markets and economic uncertainty. Gerry Cross, the CBI's Director for Capital Markets and Funds gave a keynote speech at the annual Retail Intermediaries Roadshow covering the evolving regulation of financial intermediaries, the importance of this sector for consumers, the outcomes that the Central Bank sees as important for this sector, and simplification and proportionality in regulation and supervision. Artificial Intelligence The European Commission has published a Proposal for regulation on simplification for AI rules, designed to simplify its digital regulatory framework, including the AI Act and data privacy rules. The ‘Digital Omnibus’ package introduces several measures, including delaying the stricter regulation of ‘high-risk’ AI applications until late 2027. On Wednesday, 19 November Minister of State for Trade Promotion, Artificial Intelligence and Digital Transformation Niamh Smyth launched a public consultation on the new Responsible Business Compass, an online pilot tool designed to help Irish businesses understand and comply with sustainability-related EU Regulations and Directives.  The project is being developed by the OECD in cooperation with the European Commission. Cybersecurity The National Cyber Security Centre (NCSC) in the UK published an article regarding the NCSC's 'Cyber Action Toolkit, which can help small businesses to improve their cybersecurity framework. The NCSC's toolkit is available at the following link. The National Cyber Security Centre in Ireland issued an alert regarding a critical vulnerability impacting Fortinet's FortiWeb product. The NCSC strongly recommends installing updates for vulnerable systems with the highest priority, after thorough testing. Affected organisations should review the latest release notes and install the relevant updates from Fortinet. The European Union Agency for Cybersecurity (ENISA) announced its expanded role to support cybersecurity vulnerability management in the EU and new responsibilities that will occur under the European Cyber Resilience Act including the implementation of a single reporting platform for manufacturers to notify actively exploited vulnerabilities.  Companies Office - Busy Filing period We reiterate the advice of the Companies Registration office to file early, if at all possible. Please see latest news from the CRO outlining the issues being faced as the peak filing date of 25 November draws closer. Readers are also referred to our recently published tips and pointers for the busy Annual Return filing season which may help you navigate the process with the Companies Registration Office. Digital Operational Resilience Act (DORA) The European Supervisory Authorities (EBA, EIOPA, and ESMA - the ESAs) published the list of designated critical ICT third-party providers (CTPPs) under the Digital Operational Resilience Act (DORA). This designation marks a crucial step in the implementation of the DORA oversight framework. The list of designated critical ICT third-party providers subject to direct oversight and examination is included in this document. Under Article 58(3) of DORA, the European Commission (EC), after consulting the European Supervisory Authorities (ESAs) and the Committee of European Auditing Oversight Bodies (CEAOB), must, by 17 January 2026, assess whether DORA or the Audit Directive is the most appropriate framework to strengthen digital-resilience requirements for statutory auditors and audit firms.  Accountancy Europe’s recent article highlights the upcoming assessment process by the EC and outlines reasons why it would not make sense to expand DORA’s scope to include auditors. Other news The Financial Reporting Council (FRC) has published a report to support signatories as they prepare to apply to the updated Stewardship Code which takes effect from 1 January 2026. The European Securities and Markets Authority (ESMA) has published the results of a peer review which found that the foundational frameworks for the supervision of depositaries are in place. The Pensions Authority has published its defined benefit scheme statistics for 2024 which statistics are compiled from the annual actuarial data returns submitted to the Authority. In other Pensions Authority news it has published information on the 2025 annual compliance statement  that is provided for under the Pensions Act. It has also extended the deadline for submissions to its public consultation on in-scheme drawdown. The closing date for submissions is now 20 January 2026. The Minister of State for Employment, Small Business and Retail, Alan Dillon, has announced a public consultation seeking the views of members of the public, employers and other interested parties on the right to request a remote working arrangement, provided for within the Work Life Balance and Miscellaneous Provisions Act 2023. For further technical information and updates please visit the Technical Hub on the Institute website.      This information is provided as resources and information only and nothing in the information 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 information. 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 the information 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 herein.

This week the Institute received formal correspondence from the Department of Social Protection (DSP) regarding My Future Fund. The letter, which members may have seen reported in media yesterday, emphasises that it is an offence to hinder employees from participating in My Future Fund. It clarifies that, despite recent reports, there has been no legal change requiring employers to enrol staff in occupational pension schemes to avoid automatic enrolment. The DSP has outlined that they understand that in some instances, employees are being compelled to join schemes with minimal employer contributions - often just 1% of salary – which falls short of the contributions required by My Future Fund. Such arrangements may deprive employees of meaningful pension benefits and could constitute an offence under Section 128 of the Auto Enrolment Retirement Savings System Act 2024 (AE Act). Any cases where employees are illegally obliged to join another pension scheme, preventing them from accessing My Future Fund will be fully investigated by DSP. Members are encouraged to familiarise themselves with these developments and ensure clients are fully informed. Background on Auto Enrolment/My Future Fund From 1 January 2026, the Automatic Enrolment Retirement Savings System – branded as My Future Fund - will come into effect. This initiative, legislated under the AE Act, is designed to provide employees who currently lack pension coverage with a secure and quality-assured way to save for retirement. Eligible employees - those aged over 23 and under 66, earning more than €5,000 in any 13-week period, and not already enrolled in a payroll-based pension scheme - will be automatically enrolled. The scheme will be operated and regulated by the newly established National Automatic Enrolment Retirement Savings Authority (NAERSA). Clarifications and compliance issues raised by the DSP The Department outlined that it has come to their attention that contribution levels under My Future Fund will be significantly higher than those currently reported in some occupational schemes, where employer contributions may be as low as 1% of salary. According to the correspondence, such low contribution rates are considerably below the initial and future contribution levels set for My Future Fund. The Department advises that any approach which results in employees being enrolled in schemes with substantially lower benefits could raise compliance concerns under the AE Act. The Department confirms that there has been no legislative change requiring employers to enrol staff in occupational schemes to circumvent automatic enrolment. However, it has become aware of cases where employees are being compelled to join such schemes, even where membership is not required under their contracts of employment. This practice, combined with very low employer contributions, could prevent employees from accessing My Future Fund and may constitute an offence under Section 128 of the AE Act. The letter also highlights compliance obligations. Employers enrolling staff in occupational schemes must meet disclosure requirements under the Pensions Act, ensuring employees receive full and accurate information about the terms and benefits of any scheme they join. Furthermore, sharing employee details with pension administrators without explicit consent may breach data protection law, exposing employers to legal and reputational risks. Finally, the Department notes that NAERSA, in consultation with the Pensions Authority, is considering developing standards to determine whether an occupational scheme qualifies as an exempt scheme under the AE Act. These standards will aim to include minimum contribution rates and conditions to ensure that any exempt pension schemes offers benefits at least as favourable as those provided under My Future Fund. Members should monitor these developments closely, as they will directly impact employer obligations and the advice professionals provide to clients. 

Those aiming for leadership positions can benefit from the experience of those who went before them, writes Executive Head of Member Experience Karin Lanigan.   Mentoring is certainly not a new concept; however, it is one that has been receiving increased attention in recent years within the Chartered community. The benefits of mentoring are acknowledged, and these benefits were resoundingly highlighted during a recent panel discussion event for members was hosted by the Ulster Society: “Leading with Purpose”, during which leadership and the important role of mentoring to its development were discussed. Joining me on this panel were Jackie Henry MBE – UK Managing Partner of People and Purpose, Deloitte, Sir David Sterling KCB – retired Head of Northern Ireland Civil Servant and current Non-Executive Director of various boards and trusts, Tracey McCaig – Chief Operating Officer, Department of Health’s Strategic Planning and Performance Group (SPPG), Beth Lyttle –  Chartered Accountant at Northern Ireland Audit Office, and it was chaired by Jo Scott – Broadcaster with BBC NI. "The hindsight of a mentor can provide invaluable foresight" During the lively discussion, it was agreed that being in a leadership role can sometimes be a lonely place. In this situation, the benefits of having a mentor can really come to the fore. Being able to reach out and leverage the lived experiences, advice, insights and support of a mentor can help you deal more effectively with challenges, career pivots and generally enhance your career trajectory.  It was also noted that mentors are not only a useful resource during the big moments, but they are also a helpful sounding board for day-to-day aspects of your career and life dilemmas. There is significant merit in gaining support and advice from someone who is more experienced and has most likely lived through similar situations. In other words, the hindsight of a mentor can provide invaluable foresight. Among the panelists , the consensus was that selecting or being matched with the most appropriate mentor for you personally is essential in forming this dynamic and collaborative relationship. There must be a connection and chemistry there which is then underpinned by trust, confidentiality, respect and open communication. We reminded the audience that a mentoring relationship can be formal or informal and it’s definitely not the case that  one size that fits all. We also pointed out that both parties shouldn’t be prescriptive in terms of the duration of the relationship as they can tend to naturally run their course. Confidence-building and moving out of your comfort zone Developing a relationship with your mentor is an investment in your career and personal development, particularly if you want to accelerate your career and take on more senior roles and lead with purpose. Leadership doesn’t happen in isolation. With the backing and support of a mentor you can develop your leadership skills more effectively and build your self-confidence. Our panel openly outlined how they have all had their challenges with the ‘impostor syndrome’ where they doubted their abilities and were riddled with a lack of self-confidence. On these occasions having a mentor to reach out to for support, compassion, advice and new perspectives was transformational.   To truly benefit from a mentoring relationship, you as the mentee need to be willing to be comfortable with being uncomfortable. In other words, you need to be prepared to push yourself outside your comfort zone, accept feedback and push boundaries. When you get to this point, the benefits of mentoring can be truly experienced and enjoyed. In terms of practicalities, scheduling your mentoring meetings at a time that works for you is essential to their success. You need to set aside time where you can focus on the conversations and have adequate time to plan what you want to achieve from the engagement with your mentor. Taking this approach is only fair to the mentor too who has given their time to support you. Overall, mentoring was highlighted as a valuable support system, helping members and aspiring leaders to overcome challenges, build confidence, and accelerate career growth by leveraging the experience and advice of more seasoned professionals. Learn more about mentoring For any members who are interested in offering their time to an aspiring Chartered leader, or members seeking a mentor, me and my colleagues in the Institute’s careers and recruitment service would be delighted to talk to you. You can learn more about the service here. Karin Lanigan is the Institute's Executive Head of Member Experience. She has also managed the Career and Recrutiment Service. Karin holds a Masters in Personal and Management Coaching from UCC 

The 10th Annual Good Governance Awards took place last night at Chartered Accountants House, marking a decade of celebrating strong governance, transparency and high-quality reporting across Ireland’s charity and non-profit sector. Hosted in partnership with Carmichael, the event brought together trustees, volunteers, charity leaders and supporters to honour organisations that are setting the benchmark for responsible stewardship. In her remarks, the Chief Executive of Chartered Accountants Ireland, Rosemary Keogh, highlighted the central importance of trust, noting that in an increasingly complex and volatile world, good governance is the foundation on which charities earn and maintain public confidence. She emphasised that governance is not simply about compliance, it is a commitment to accountability, purpose and the ethical use of resources for the public good. A key theme of the evening was the steadily increasing standard of governance across Irish charities. With the publication of the new Charity SORP in October, and the Charities Regulator expected to finalise mandatory scoping requirements in 2026, boards, management teams and donors will have more to familiarise themselves with in the year ahead. These developments reinforce the need for ongoing training, clarity and leadership - particularly in areas such as financial reporting, risk oversight, impact measurement and transparency. The many roles played by Chartered Accountants across the non-profit landscape was also recognised at the event. Members serve as trustees, treasurers, employees, auditors, advisers, volunteers and donors, bringing professional judgement, financial stewardship and ethical leadership to charities and non-profits of all sizes. Some have also been beneficiaries of the sector’s work, reinforcing its deep societal value. Their contribution aligns with Chartered Accountants Ireland’s emphasis on trusted business leadership and reflects the profession’s commitment to serving the public interest. A very warm appreciation was also extended to Carmichael and Diarmaid O’Corrbui, Co-founder of the Good Governance Awards, for a decade of championing excellence in governance. Congratulations once again to all this year’s winners, who were: Category 1 (< €100,000): Chronic Pain Ireland Category 2 (€100,000–€250,000): Kilkenny Volunteer Centre Category 3 (€250,000–€750,000): IDEA – Irish Development Education Association Category 4 (€750,000–€2.5m): Belong To Category 5 (€2.5m–€10m): Women’s Aid Category 6 (€10m–€50m): Oxfam Ireland Category 7 (> €50m): Rehab Group All shortlisted organisations received expert feedback from volunteer judges and assessors, a core feature of the Awards that supports continuous improvement throughout the sector. For further information or comment please contact Head of Ethics and Governance, Níall Fitzgerald at ethicsgov@charteredaccountants.ie

The second six-monthly SME Business Sentiment Survey from Chartered Accountants Ireland and GRID Finance has found that 60% of businesses have been impacted by global trade tensions and tariffs. The survey measures and tracks the experience, confidence and sentiment of SMEs, including small accounting practices, doing business in Ireland. The inaugural survey took place in April 2025.  Businesses more prepared for trade tensions and tariffs  Despite uncertainty in global trade and tariffs, the proportion of businesses unprepared for related disruptions has fallen from 36% to 23% in the past six months - suggesting growing resilience. Business members in particular feel better equipped to manage these issues, rising to 25% now compared to just 15% in April. The effects of Brexit continue to be felt with 41% of respondents reporting that it had a negative impact on their business.  Cróna Clohisey, Director of Members and Advocacy, Chartered Accountants Ireland said: “The findings highlight both the resilience and the pressures facing SMEs. While more businesses are now prepared for global trade disruptions, the environment remains volatile and demands continued vigilance. Our members are uniquely positioned to help businesses plan, adapt, and thrive amid these challenges, offering the trusted guidance and expertise needed to build long-term resilience. “Encouragingly, nearly a third of members (32%) report business profitability has increased in the last 6 months, an improvement on April’s findings. One in three also believe that their business will be better off in the next 12 months, up 5% from the previous survey.”  Cost pressures continue to bite The survey found that business costs are continuing to increase for the vast majority (79%) of SMEs. Small businesses remain under pressure from rising labour costs, which nearly two-fifths identify as their greatest financial challenge. This is followed by rising operational costs (30%) and regulatory compliance costs (12%). Not only are costs a financial challenge to businesses, they are viewed as the biggest competitiveness challenge faced by SMEs at 45%. This is followed by salary demands and talent pipeline/shortages. Countdown to auto-enrolment Almost two-thirds (64%) of businesses indicate that they are prepared for the pension auto-enrolment start date of 1 January. The findings reveal that business size is a significant factor in how companies prepare for this new scheme. Those with 50+ employees are more likely to budget for increased costs and expand their existing occupational pension schemes at 53% and 49% respectively compared to 32% and 33% for organisations with fewer than 50 employees.  Clohisey continued “Businesses are taking steps to ready themselves with almost 60% having attended an information session, but only 39% have budgeted for increased costs related to the scheme. Smaller firms will need additional support to manage the costs and administrative burden this reform will bring. Continued government support will be vital to ensure no business is left behind." Eoin Christian, CEO, GRID Finance said: “The November survey findings highlight the views of small businesses across a range of critical issues and clearly illustrate the challenges they continue to face. Chief among these are rising costs related to staffing, day-to-day operations and regulatory compliance. When combined with an uncertain global trading environment, these pressures make it more important than ever for small organisations to closely assess their operations and future cash-flow requirements. “With almost one-fifth of respondents reporting increased demand for borrowing, and nearly one-third applying for government supports, it is evident that businesses are actively seeking financial assistance — both from the State and from specialist finance providers such as GRID Finance.” You can read the survey in full here. About the SME Business Sentiment Survey The SME Business Sentiment Survey is conducted by Chartered Accountants Ireland and GRID Finance, the Institute’s Official Independent Lender Partner. This survey was conducted by Coyne Research between 2 and 19 October 2025 and will be repeated every six months. Approximately 300 members were surveyed from organisations employing fewer than 250 people.   About GRID Finance GRID Finance is dedicated to providing accessible and sustainable financing solutions to small and medium-sized businesses. With a deep understanding of the needs of Irish SMEs, GRID Finance offers a range of financial products and services designed to support growth, resilience, and long-term success. Social Impact and B-Corp Accreditation As a Certified B Corporation, GRID Finance meets the highest standards of social and environmental impact. With an overall B Impact Score of 127.9, significantly higher than the median score of 50.9 for ordinary businesses, GRID Finance is committed to continuous improvement and leading the transformation of the global economic system.      

Catherine Rogers is an Associate Director at Crowe, where she acts as Head of Governance within the Consulting Department. She specialises in advising the public and not-for-profit sectors on a wide range of governance matters and is also part of Crowe’s Special Investigations Unit, which has undertaken numerous high-profile inquiries. Catherine qualified as a Chartered Accountant in 2010, following a BSc in Management from DIT. What made you choose Chartered Accountancy and if you weren’t a Chartered Accountant, what other career path would you have followed? In school, I always enjoyed the accountancy side of business studies. I found the process of putting a set of accounts together logical and satisfying. If I hadn’t become an accountant, I’m not sure what path I would have taken. At one point, I considered teaching or even studying law, but my interest always came back to accounting. Can you tell us about your career path and how you got to where you are now? I began my career training in a small firm, gaining hands-on experience managing jobs and clients from an early stage. Qualifying in 2010 during a challenging job market, I spent a year working in the finance department of a catering company before moving to Edinburgh. There, I joined Lloyds Banking Group, preparing accounts for companies that owned large leased assets such as ships and trains. I later moved to RBS, working in group reporting on financial statements and budgets. In 2012, an opportunity arose to join the civil service, where I was appointed to the Department of Finance. For nearly three years, I managed the State’s shareholding in AIB – a unique experience after previously working for two banks bailed out by the UK taxpayer. While at the Department, I contributed to the Banking Inquiry, sparking my interest in understanding crises and what can be learned from them. This ultimately led me to transition into consulting with Crowe. What do you value most about your membership of the profession, and how do you think these benefits can be used to support the economy and society? For me, the greatest value lies in professional support – there’s always someone to advise or provide a listening ear. Having the opportunity to discuss economic developments helps the profession proactively address issues. The recent bill to protect the term “Accountant” will only strengthen our role in the future. Every charitable organisation also needs to have some level of input from an accountant, so we do give back a lot on a voluntary basis. What Institute services have you availed of, and to what extent have you been involved with the Institute? I have actively pursued professional development, completing diplomas in corporate finance and forensic accounting and investigations. I am also a member of the Charity and Not-for-Profit group, which provides a platform to share insights and address sector challenges. What career advice would you give to other members based on your own experience? Don’t be afraid to try something different. When I qualified, I wasn’t sure what I wanted to do, but the qualification opened so many doors. People often underestimate the curiosity and inquisitiveness we develop as accountants. In my current role, that perspective allows me to approach issues through a unique lens. What achievement are you proudest of in your life to date? My involvement in the Scoping Inquiry into CervicalCheck is something I’m incredibly proud of. Working with Dr Gabriel Scally was eye-opening and rewarding, and knowing I played a small role in changing how women’s health is viewed is hard to beat. Meeting the women and families affected was both heartbreaking and inspiring.

Following the publication of the Government’s consultation on the powers and duties the Financial Conduct Authority (FCA) will need to become an effective AML/CTF supervisor, HM Treasury will be hosting a series of roundtables. These roundtables are an opportunity for meaningful discussion on the proposals set out in the consultation.  Please visit links below for details: Accountancy & TCSPs: 27 November, 11:00–12:30 8 December, 14:00–15:30