As Ireland’s accounting landscape evolves, Mary Cloonan explores how managing partners are embracing strategy, talent and technology to drive sustainable growth Ireland's accounting and advisory landscape continues to change rapidly, driven by shifting client expectations, rising regulatory demands and the relentless advance of technology. In this dynamic environment, managing partners are setting their sights beyond technical excellence, focusing on the strategic priorities underpinning sustainable growth. 1. Strategic growth: moving beyond compliance services Compliance remains the foundation of many firms, but the real opportunities lie in advisory services. Firms that successfully integrate advisory services into their core offering articulate their value beyond audit and tax. Managing partners are doubling down on deepening client relationships, leveraging data-driven insights and building service lines that proactively solve business challenges. The firms leading here don’t just respond to client needs—they anticipate them. Whether operating as a private equity-backed firm or an ambitious, partner-led practice, this forward-thinking approach is essential in a market where maximising opportunities is key. 2. Talent and leadership: expanding the skills at the top table Attracting and retaining top talent remains a pressing challenge. The demand for skilled professionals continues to outstrip supply, making investing in people, once you have them, more critical than ever. Beyond competitive salaries, firms are re-evaluating their reward structures—moving beyond traditional partner compensation models to recognise and incentivise high-performing professionals at all levels. Retention strategies now include structured career development, leadership training and clearer pathways to partnership or senior roles. In response, firms are also reshaping their leadership structures, recognising that sustainable growth demands more than technical expertise. Many are introducing chief operating and growth officers to drive efficiency and business development, allowing partners to focus on client service and strategic direction. This shift doesn’t dilute the role of partners—it strengthens it. Successful firms focus on creating leadership teams with complementary skill sets—bringing together deep technical expertise with strong commercial and strategic oversight to drive long-term success. 3. Technology: a business enabler, not just an efficiency tool Artificial intelligence (AI), automation and cloud-based platforms are reshaping how firms operate. However, the most successful firms view technology as more than an efficiency driver—it is a catalyst for growth. Managing partners are focused on embedding digital tools to enhance client experience, improve decision-making and open new revenue streams. The challenge is not simply adopting technology but ensuring it aligns with long-term strategy and delivers real, tangible value. 4. Evolving client expectations: the shift to proactive advisory Today’s clients expect more than just number-crunching. They want proactive, strategic advice. The firms thriving in this environment prioritise client experience—offering insights beyond compliance, providing forward-looking business advice and positioning themselves as indispensable strategic partners. Accessibility to senior leadership is also becoming a key differentiator. Firms fostering a culture in which partners actively engage with clients—offering guidance, insight and responsiveness—will build stronger, longer-lasting relationships. (Subhead) 5. Sector expertise and the power of visible experts Many firms have deep expertise in key sectors, but too often, this knowledge stays within the firm rather than being shared with the market. Managing partners recognise the need to position their professionals as visible experts, ensuring their insights reach the right audiences. The firms that stand out are those actively showcasing their sector specialisms through thought leadership, media engagement and targeted industry participation. From publishing reports to speaking at events, firms that invest in visibility strengthen their reputation, attract new business and reinforce their position as trusted advisors in specialist fields. 6. Future-proofing: succession, sustainability and the long view Sustainable growth requires thinking beyond the next financial year. Managing partners are placing greater emphasis on leadership development, succession planning and business models that support long-term success. Whether through equity restructuring, alternative fee models or cultural shifts towards more collaborative leadership, firms are reimagining their future. Environmental, social and governance (ESG) also plays a growing role in client advisory services and shaping firms’ strategies. This is particularly relevant as private equity investment reshapes parts of the sector, presenting opportunities for ambitious firms—both partner-led and externally backed—to capitalise on emerging trends. Looking ahead The role of the managing partner is evolving. Success today requires balancing technical expertise with commercial acumen, embracing diverse leadership perspectives and ensuring firms remain agile in a changing landscape. Those who put client care at the heart of their strategy—while fostering accessible, forward-thinking leadership—will be best placed to seize the opportunities ahead. Mary Cloonan is the Founder of Marketing Clever 

As US President Donald Trump presses ahead with his tariff-led trade policy, John O'Loughlin considers the Irish, UK and EU response and offers his advice to businesses on managing the risks  On Monday, 10 February, President Trump signed a proclamation imposing a 25 percent tariff on all steel and aluminium imports, irrespective of the country of origin, due to be implemented on 12 March. While tariffs had already been in place for both steel and aluminium, certain countries, including the UK and countries in the European Union (EU), were previously exempted. The introduction of Trump’s new policy measures will now see the 25 percent tariff apply to all third countries, including those in the EU. Additionally, on Thursday, 13 February, President Trump signed a Presidential Memorandum introducing the “Fair and Reciprocal Plan”. This plan instructs the Trump Administration to investigate and produce a report detailing proposed remedies to counter non-reciprocal trading arrangements with trading partners. In the context of this memorandum, the potential introduction of “reciprocal tariffs” would see the US apply tariffs to third country goods matching the tariffs those countries impose on US goods.  For example, the White House Fact Sheet accompanying this memorandum specifically highlighted the disparity between the 10 percent tariff imposed by the EU on imported cars, compared to the US tariff of 2.5 percent. Irish reaction In response to the implementation of US tariff measures on China, and the threat of further tariffs being imposed in the EU, the Irish Government has proposed two new advisory bodies.  The Strategic Economic Advisory Panel would be based in the US and specifically tasked with strengthening US-Irish relations and advising on how to address potential policy changes introduced by the Trump administration. The plan is that the panel would comprise influential professionals drawn from a range of business sectors operating in the US. The second proposed body is the Consultative Group on International Trade Policy, which would facilitate dialogue with key stakeholders in international trade. This group would meet at least once every eight weeks, providing guidance on addressing trade challenges and opportunities. EU commentary European leaders have expressed concerns about President Trump’s recent tariff threats, warning of potential economic harm to EU member states. Spain’s Economy Minister Carlos Cuerpo stressed the need for a united EU response to protect businesses and ensure fair competition.  At a recent summit, European Commission President Ursula von der Leyen acknowledged the growing uncertainty surrounding US trade tariffs and affirmed the bloc’s readiness to defend itself. “When targeted unfairly or arbitrarily, the European Union will respond firmly,” von der Leyen stated. Discussions also focused on maintaining transatlantic unity while seeking diplomatic solutions to prevent escalating trade tensions.  French Foreign Minister Jean-Noël Barrot urged the European Commission to take decisive action, arguing that the EU must be prepared to implement retaliatory measures if necessary. His position reflects a broader consensus among EU leaders to stand firm against unwarranted economic actions that could harm European businesses and consumers. More recently, on 10 February 2025, the EU Commission issued an official statement regarding potential US tariffs on EU-sourced steel and aluminium. The Commission emphasised that it would not respond to any announcements without written clarification and reiterated that it sees no justification for imposing tariffs on its exports. Echoing the sentiments of the foreign ministers of EU member states, the Commission affirmed that any future actions would aim to protect the interests of European businesses, workers and consumers against unjustified measures. UK position In contrast to the EU, President Trump has made generally positive comments relating to the UK, suggesting that potential UK tariffs could be “worked out”. This has resulted in a subdued response from the UK, with no clear signs that a trade war could break out between the two nations. Preparing for the future Since the inauguration of President Trump, we have seen increased engagement from businesses on the tariff issue, motivated by a desire to understand the practical implications of these changes and how they might impact business performance. To determine this potential impact, companies should take the following steps: Assess the customs origin of goods shipped to the US to determine exposure to potential tariffs. Gain oversight of the end-to-end supply chain, gathering the right data to assess the impact on material sourcing and tariff exposure for component parts. Understand how tariffs might impact software/service business due to reduced demand from existing customers. Assess the legal structure of the business and how transfer pricing arrangements could be used to mitigate tariff impact. John O'Loughlin is Partner of Global Trade and Customs at PwC Ireland

Ireland’s pension system stands at a critical juncture driven by evolving market conditions and demographic shifts. Rav Vithaldas delves into the details The pension market in Ireland is characterised by a growing shift towards defined contribution (DC) schemes, consolidation and regulatory compliance. Our pension system comprises a basic state pension, employer-provided occupational schemes and private personal plans, all incentivised with tax benefits and options for voluntary contributions. According to the Central Bank of Ireland (CBI), the total assets of the Irish pension fund sector increased by 2.4 percent in the third quarter of 2024 to total €142 billion. The most prominent pension funds among our occupational pension schemes include master trusts, designed to provide a governance structure that allows multiple employers to participate in a single, centrally administered, pension arrangement. This can be particularly beneficial for small and medium-sized enterprises (SMEs) that may not have the resources to manage their own standalone pension schemes. The introduction of master trusts is part of a broader trend towards pension consolidation and is in line with the EU’s Institutions for Occupational Retirement Provision (IORP) II Directive, which aims to improve the governance and transparency of occupational pension schemes. Challenges in the Irish pension system Ireland’s pension system faces two challenges: rising occupational pension coverage and consolidating DC funds. Auto-enrolment is the main strategy employed to expand coverage, targeting about 800,000 workers without employer pensions, but its implementation has been delayed. With auto-enrolment on the horizon, master trusts are expected to manage more assets in the coming years, largely driven by regulatory changes. Initially, SMEs were the ones transitioning to master trusts, but as trust in this market strengthens, larger entities are also increasingly opting for master trusts. Consolidation is also progressing, driven by the IORP II Directive, which reduced the number of defined benefit (DB) schemes from 766 to 480 within a year. The industry goal to reduce group DC schemes to 500 or fewer indicates that about 12,000 schemes are yet to be consolidated. Age of retirement Along with these structural changes, the Irish pension market is increasingly integrating environmental, social and governance factors, driven by regulatory compliance and a desire to align with beneficiary values. Pension funds are updating policies, conducting ESG analyses, practising active stewardship and applying exclusionary screens. They are also investing in ESG assets, exploring impact investments, focusing on enhanced transparency and education, and participating in global initiatives like Principles for Responsible Investment (PRI). Despite these trends, Ireland continues to grapple with challenges arising from the absence of a legally mandated retirement age. This situation has led to issues such as a lack of clarity regarding retirement timing, inconsistent retirement ages in different companies (complicating the prediction of pension liabilities and funding), the potential for age-based discrimination and challenges for trustees managing delayed benefit payouts. In 2025 and beyond, Ireland's pension sector will likely be shaped by several key themes: Auto-enrolment rollout: From 30 September 2025, employers will be required to integrate auto-enrolment systems, which will require careful planning for compliance and a smooth transition. State pension sustainability: With demographic changes, there will be more focus on the financial sustainability of state pensions and retirement age policies, necessitating vigilance and flexibility. Flexible retirement: Employers and trustees must accommodate varying retirement preferences while adhering to regulations. DB scheme challenges: Financial pressures and solvency requirements for DB Schemes demand proactive risk management and member protection. Governance and investment strategies: Evolving market conditions and changes to the Standard Fund Threshold call for improved governance and investment strategies, with a growing emphasis on ESG factors. Digital resilience: Cybersecurity and data protection will become more critical, requiring ongoing investment in technology and strict operational standards. AI in pension administration: Artificial intelligence will bring process enhancements to pension administration but must be implemented with careful ethical and regulatory considerations to maintain trust and integrity. While these new trends in the Irish pension market address challenges arising from the lack of a statutory minimum retirement age, our perspective on Ireland’s pension system is that it currently stands at a critical juncture whereby: An ageing population necessitates reforms for better pension coverage and retiree adequacy; The shift from DB to DC schemes offers flexibility and improved risk management; Auto-enrolment pension schemes aim to boost participation and secure retirement for more workers; Master trust consolidation in Ireland indicates a move towards more efficient and professional pension management, driven by regulatory changes, cost pressures and a push for better governance; and Sustainable investing within pension funds showcases a commitment to ESG, aligning with responsible investing trends and mitigating ESG risks. Overall, these developments reflect a proactive approach to evolving market conditions and demographic shifts, aiming to ensure the sustainability and adequacy of retirement provisions for Irish citizens. Rav Vithaldas is Partner and Pensions Assurance Leader at EY Ireland 

From the Professional Accountancy team…… The Government has in recent days issued its Spring Legislative Programme 2025 the first since the new Government took office. In it there is some proposed legislation which may be of interest to members. Co-operatives The Co-operative Societies bill is listed for priority drafting. This legislation aims to place the co-operative model on a more favourable and clearer legal basis, thereby creating a level playing field with companies and encouraging the consideration of the co-operative model as an attractive formation option for entrepreneurs. Readers may recall that the previous Government in November 2022 approved the drafting of what was billed as ground-breaking legislation for the sector. The draft legislation proposes to repeal the Industrial and Provident Societies Acts 1893-2021 and provide a modern and effective legislative framework suitable for the diverse range of organisations using the co-operative model in Ireland. You can read more here by following the  link to the General Scheme of the Co-operative Societies Bill 2022. Readers can also go to the Institute’s technical hub pages where there is further information on this area. Other Also on the business regulation side, changes are proposed to the law on limited partnerships and business names. As we reported previously, heads of the general scheme for the Miscellaneous Provisions (Registration of Limited Partnerships and Business Names) Bill was published in July 2024  as both the limited partnership and business names legislation require updating to provide for modern business practices for those engaged in business using a business name or the limited partnership model .The Spring legislative programme indicates that work is ongoing on priority drafting of this legislation. Other legislation for priority publication is the National Cyber Security Bill to implement the Directive known as NIS 2 into Irish law. This directive was due to be transposed by 17 October 2024, so Ireland is overdue in its implementation. The previous government published heads of Bill of the National Cyber Security Bill in July 2024. Finally on this topic: - heads are in preparation for the Regulation of Artificial Intelligence Bill .The Bill will give full effect to the EU Regulation ,the Artificial Intelligence Act and will designate the National Competent Authorities responsible for implementing and enforcing the EU Regulation and will provide for penalties for non-compliance. - the Autumn 2024 legislative programme referenced heads in preparation and priority publication of the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill. This was stated to amend the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (2010 Act) to ensure that Crypto Asset Service Providers are covered by national law in relation to Ireland’s Anti-Money Laundering and Terrorist Financing regime. Readers might note that in December 2024 the Minister for Justice by SI 724 of 2024 prescribed crypto asset service providers as designated persons under the 2010 Act. - the Finance (Provision of Access to Cash Infrastructure) Bill 2024 which was published by the Dept of Finance last year  has been restored to the Dail order paper . 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.    

Accountancy Europe has in recent months issued a factsheet entitled “Navigating the EU Anti-Money Laundering Regulation: Key Issues for the Accountancy Profession”.The factsheet highlights the key changes introduced by the new AML Regulation passed in Europe in 2024 and emphasises the importance of early preparation for these upcoming changes. Please click the link above to access the factsheet and here to preview the publication’s key insights on their website .

Revenue has updated the Tax and Duty Manual Guidelines on PAYE Assessments to reflect Finance Act 2024. The manual has been updated to reflect the amendment introduced to the four-year time limit for making or amending PAYE assessments by a Revenue officer.  From 1 January 2025, the four-year limit commences at the end of the year following the year of assessment in which the employer return for that income tax month is made.

Revenue has issued a press release confirming that text messages claiming to come from them and which seek personal information from taxpayers are a scam. Revenue confirmed that they never request personal email through text, email or pop-up windows. Revenue advises that any emails or text messages which appear to be from Revenue and are suspected to be fraudulent or a scam should be deleted. Taxpayers should contact their local Revenue office to verify the status of any expected tax refunds. Individuals who have responded to these fraudulent emails or text messages and provided personal information are advised to contact their bank or credit card company immediately.

The annual Special Assignee Relief Programme (SARP) employer return for 2024 must be submitted to Revenue on or before 23 February 2025. The return should include details of all employees who availed of SARP relief for the period 1 January 2024 to 31 December 2024. Details on the filing of the return through Revenue’s online eSARP portal are available on Revenue’s SARP webpage.

The OECD Economic Survey of Ireland 2025 was launched last week at an event hosted by the Institute of International and European Affairs. The report notes that the domestic economy in Ireland remains robust primarily due to strong labour market performance. However, it notes that caution needs to be exercised when addressing spending pressures arising from an ageing population, infrastructure deficits, climate change and housing shortages. The key messages from the survey are as follows: Fiscal restraint is called for in the near term. At the same time, enhancing the fiscal framework, increasing spending efficiency and improving the medium-term resilience of tax revenues will be key to ensuring long-run fiscal sustainability. Preserving Ireland’s cost competitiveness requires a reduction in labour and skills shortages, lower legal costs and easing of the administrative burdens on businesses. Speedier implementation of plans and pricing emissions more uniformly across sectors is central to achieving Ireland’s ambitious climate targets. Policies to increase housing density, improve land use and development, raise productivity and lower costs in the construction sector are needed in order to boost housing supply. Commenting on the survey findings, Minister for Finance, Pascal Donohoe  said: “Our economy is in good shape and this gives us the resources and the bandwidth to address many issues. But continued economic success is not a given. The world is changing; the global economy is changing; our own economy is changing. It is incumbent upon us all – but especially those in the public sector – to prepare for these changes.”

From the Professional Accountancy team …..CCAB-I  has prepared Technical Alert TA01-2025  containing some pointers for firms to consider in their use of artificial intelligence (AI). All firms should be considering putting a policy in place whether it’s just to cover basic points such as if your trainees (or other employees) are permitted to use AI in the office or whether you need more extensive provisions. The pointers in our technical alert and links included in it may be of use to members.   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.    

Revenue has updated the Tax and Duty Manual Company Charge to Income Tax on Loans to Participators. The updated manual includes a new introductory paragraph, further details on the operation of the provisions, and some additional examples.

Revenue has updated the Tax and Duty Manual VAT and Employer Income Tax/PRSI/USC/LPT – Direct Debit guidelines to reflect the ongoing direct debit modernisation project. Under phase one of this project, from January 2025, employers can no longer avail of a fixed direct debit option to pay their taxes. Liabilities can be settled instead by variable direct debit.

Revenue has published a new Tax and Duty Manual Split Year Residence which provides guidance on split year residence. The guidance reflects amendments to the claim rules introduced in Finance Act 2024. The new guide outlines split year treatment, its benefits and the relevant qualifying conditions. The changes introduced by Finance Act 2024 allow individuals to self-assess their eligibility for split year residence and claim the relief in their income tax Return for the relevant year.  These changes are referred to as the ‘Finance Act 2024 scheme (out of year claims)’. The manual provides guidance on claiming relief under this scheme and under ‘The Finance Act 1994 scheme (in-year claims)’. Illustrative examples of both schemes are included in the manual.

The first Practice News webinar of 2025, brought to you by Practice Consulting, took place on Friday 7 February 2025. In attendance were senior representatives from HMRC’s Making Tax Digital (MTD) team, including the MTD Programme Director Craig Ogilvie and Gemma Hope, from the Agent External Readiness team. Attendees heard how agents and taxpayers can prepare for MTD for income tax, including the benefits of joining its testing programme and key readiness tips. A recording of the webinar is available for viewing here. HMRC’s slides are also available on our website. The webinar also contained the usual regular features including updates on both Irish and UK tax, in addition to the latest compliance and technical news from the February 2025 edition of Practice Matters.

Revenue has updated the Tax and Duty Manual which provides guidance on the provisions relating to the residence of individuals. New paragraphs are included which provide additional guidance on: The meaning of ordinary residence and its implications in relation to the charge to tax (paragraph 2), Details on the charge to tax of income from a public office or employment (paragraph 5) and, Double tax agreements (paragraph 7). Certain paragraphs have been removed as the relevant matters are dealt with in separate Tax and Duty Manuals; these include split year residence and PAYE exclusion orders. The appendices in the manual have also been updated to reflect refreshed examples and now include a summary table on the tax implications of an individual’s residence, ordinary residence, and domicile status. A new appendix has also been included to provide historical guidance relating to a concession applying to Covid-19 cases in 2020.

In a story on 13 January 2025, we highlighted planned industrial action by HMRC staff which at that point was expected to end later this week on Friday 14 February 2025. HMRC has recently contacted us to advise that this action, which affects the Employer Helpline and Construction Industry Scheme helplines, has been extended to 14 March 2025. The full email from HMRC reads as follows: “In December we notified you about industrial action affecting the Employer Helpline and Construction Industry Scheme (CIS) helplines. This has been extended to 14 March. We have robust plans in place to ensure we continue delivering critical services.  HMRC Employer Services phonelines and webchat will be open 8am-6pm as usual but customers may experience longer wait times. We recognise that this is inconvenient for customers and agents who need direct support.   The lines affected are:  Employer Helpline (EHL)   Construction Industry Scheme (CIS) Helpline   There are no expected impacts on other services. We will keep the opening hours and service levels under review, and we will update you in advance of any changes.   We are updating GOV.UK and the recorded message that customers hear when calling the helpline. This tells them about the industrial action, the increased wait times and encourages customers to use our digital services. We strongly encourage customers to use our digital services rather than waiting to speak to us on the phone. Some of the main topics customers call these helplines about, which they can do online are: Get a quick answer to queries using the digital assistant  Check the status of your CIS refund in the ‘Where’s My Reply’ tool – only call us if the date has passed   Check your balance in the Business Tax Account   For technical support with online services use the For technical support with online services use the Online Services Helpdesk.”

HMRC has recently updated the Making Tax Digital (MTD) for income tax taxpayer and agent sign up guidance pages to reflect changes to the eligibility criteria for participating in the MTD for income tax trial in 2025/26. Following these changes, taxpayers reporting the high income child benefit charge and/or income from a jointly owned property will be able to sign up voluntarily to join the MTD for Income Tax 2025/26 trial phase ahead of mandation for the first phase of taxpayers with turnover exceeding £50,000 from April 2026. Further updates on the 2025/26 testing phase are expected ahead of its launch which is currently targeted for April 2025.

In this week’s miscellaneous updates, HMRC has confirmed that its interest rates will be reduced after the recent Bank of England base rate reduction and a consultation is taking place on HMRC statistics. From April 2025, the legislation which gives effect to the UK-Russia and UK-Belarus Double Taxation Treaties in UK law will be revoked and HMRC’s Guidelines for Compliance (GfC) have published the latest GfC on labour supply chain assurance. 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 finally, check HMRC’s online services availability page for details of planned downtime and the online services affected. HMRC late payment interest rates to be reduced HMRC has confirmed that its interest rates for late payments will be revised and reduced by 0.25 percent following the Bank of England interest rate cut to 4.5 percent. These changes will come into effect on: 17 February 2025 for quarterly instalment payments, and 25 February 2025 for non-quarterly instalments payments. HMRC’s information on the interest rates for payments will be updated shortly. Consultation on changes to HMRC statistics publications On 16 January 2025, HMRC published a consultation seeking views on how the statistics they publish are used. HMRC recognises that it is important to engage with statistical publication users regularly and to consider whether publications remain of high value to them. The aim of the proposals is to ensure that HMRC: continues to produce useful and relevant statistics for use by its stakeholders, adding to its existing statistics where appropriate, and adapts statistics publications to reduce what is produced for those which are no longer widely used, are duplicated elsewhere, or could be produced less frequently. The consultation closes on 10 April 2025. Revocation of UK-Russia/Belarus tax treaties Following Russia’s unlawful action to suspend material provisions of the 1994 UK-Russia Double Taxation Convention and the 2017 UK-Belarus Double Taxation Convention, the UK continued to honour its treaty obligations. The UK requested that Russia come back into compliance with its international legal obligations. However, as it did not do so, the UK has now notified Russia of its intention to suspend the Convention. The UK will therefore revoke the legislation which gives effect to these conventions in UK law. These will both cease to have effect from: 6 April 2025 for Income Tax and Capital Gains Tax, and 1 April 2025 for Corporation Tax. The UK will continue to honour its obligations under the treaties until these dates. However, thereafter, there will be an increased risk of double taxation, with a need to rely on the relief (if any) available under domestic law noting the potential for this to be restricted by ongoing sanctions. The following publications have therefore been updated: Belarus: tax treaties, and Russia: tax treaties. New GfC on labour supply chain assurance HMRC’s GfC team has published Help with labour supply chain assurance — GfC12. The guidelines are designed for larger organisations in the top tiers of a labour supply chain; however, the principles can be applied to most businesses. HMRC continues to tackle tax defaulters in labour supply chains directly. Many risks arise where there are opportunities to exploit larger, higher value, and more complex chains. HMRC is concerned about how these risks can affect a business’s own tax affairs. These guidelines explain how taxpayers can self-assess their own assurance practices and aim to help taxpayers identify and limit the impact of risks. The guidelines: explain what labour supply chains are and the associated risks, promote the importance of effective labour supply chain assurance, and provide practical advice to consider when carrying out labour supply chain assurance. These have been produced using a different format than previous guidelines hence HMRC is keen to hear feedback on the new format. If you have any queries or feedback, please contact the GfC Mailbox. Alternatively, there is an anonymous survey in the Next steps, further questions and feedback section.

Revenue has updated the Tax and Duty Manual Guidance on the Residential Zoned Land Tax (RZLT) to reflect Finance Act 2024. The main changes to the manual reflect amendments to the sections dealing with land subject to the RZLT, administration, exemptions, deferrals and abatements and other issues.

Last week Revenue published statistics relating to 2024 PAYE tax returns filed to date this year on the back of which PAYE taxpayers are being encouraged to use the myAccount service to finalise their tax position. The statistics showed that as at 29 January 2025, over 550,000 PAYE returns had been processed for 2024 which resulted in refunds of over €400 million to PAYE taxpayers. Revenue is reporting a continuing increasing trend in the use of Revenue’s my Account service to file tax returns. An underpayment of tax arose in approximately 12 percent of the returns processed and Revenue has advised that they will engage with the relevant taxpayers to collect the tax due by reducing tax credits over a four-year period. Revenue has reported they estimate a further €389 million of tax may have been overpaid by PAYE taxpayers in 2024. In light of this, Revenue has launched a campaign to encourage PAYE taxpayers to use the myAccount service to finalise their tax position. Revenue has provided details on how to access this service and detailed guidance on submitting a PAYE tax return and claiming tax credits and reliefs.