Agents now have until 6 December 2024 to send HMRC details of their agent codes. In October HMRC emailed agents asking them to provide details of their agent codes by 8 November 2024 via an online form. Last week HMRC emailed a reminder to agents to submit this information which also advised that the deadline is now 6 December 2024.   The email contains details of how to find your agent code and how to complete the form. HMRC  advises that if an agent has already completed and submitted their information to ignore this reminder.   

HMRC is hosting a Making Tax Digital (MTD) for income tax event at their Croydon Regional Centre office later this week on Thursday 5 December 2024. Read on for more details. Note that events are being planned across the UK with one to be held in Belfast in Spring 2025. Event details: Location: HMRC, 1 Ruskin Square, Croydon, CR0 2WF.  Time: 11am start – 3pm finish.  The event is for agents and software developers who have clients who will need to use MTD for Income Tax, to help you get ready for when it becomes a legal requirement from April 2026. At the event you will: Find out more about the testing phase, including the extra support on offer, Have access to hands-on support to sign up to testing, and Be able to ask HMRC your MTD questions. This event has limited spaces so if you are interested and want to attend please email mailboxmakingtaxdigital@hmrc.gov.uk to secure a space. By emailing HMRC, you are agreeing to be contacted by HMRC before, during and after this event.   

In this week’s miscellaneous updates, HMRC has published updated guidance on the abolition of the furnished holiday lettings (FHLs) rules. The latest Agent Update is available as is the most recent News and Information Bulletin both of which contain important guidance on filing 2023/24 self-assessment returns where overlap relief is being deducted as part of the transition year to the tax year basis. 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. The most recent minutes/notes from HMRC’s Guidance Strategy Forum are also available. And finally, check HMRC’s online services availability page for details of planned downtime and the online services affected.   Updated FHL guidance  HMRC has published updated guidance on the tax rules for the abolition of FHLs. The purpose of the updated guidance is to make clear that the intention is to remove the specific tax reliefs currently available for FHLs, hence there will not be changes to other rules. For example, holiday accommodation, whether previously qualifying as a FHL or not, will remain standard-rated for VAT.  Latest Agent Update  Agent Update: issue 125 is now available. Get the latest guidance and information including: reporting rules for digital platforms with the first reports due 31‌‌‌ January‌‌‌ 2025, completing self-assessment tax returns for student and postgraduate loan borrowers, self-assessment top tips for agents including guidance on basis period reform and a request to submit overlap relief applications early and preferably by 31 December 2024, using the payrolling benefits in kind service for agents, and  an update on the new requirements for safety and security declarations.

In this week’s post EU exit corner, we bring you the latest guidance updates and publications relevant in the post EU exit environment. 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. Minutes from the latest Northern Ireland Joint Customs Consultative Committee, which the Institute participates in, have been published together with the slide deck used. These provide useful information on the forthcoming changes to the movement of consumer and freight parcels from Great Britain to Northern Ireland from 31 March 2025. It has also been confirmed that the Government’s single trade window has been paused and HMRC has recently published a range of guidance and communications particularly relevant to customs transactions in Northern Ireland.  Single trade window paused  The single trade window (STW) will be a UK Government service with the objective of providing a gateway between businesses and UK border processes and systems. The system will essentially  allow users to meet their import, export and transit obligations by submitting information once, and in one place. This was due to commence its initial phase in 2024. However it has now been confirmed by the Exchequer Secretary to the Treasury in Parliament that delivery is being paused. An update will be provided as part of the next phase of the Spending Review which is expected to report in late Spring 2025.  New guidance for customs  Earlier this month the following customs guidance relevant to Northern Ireland was published by HMRC: New guidance for customs Earlier this month the following customs guidance relevant to Northern Ireland was published by HMRC: Moving goods from Great Britain to Northern Ireland under the Windsor Framework: https://www.gov.uk/guidance/internal-market-movements-from-great-britain-to-northern-ireland, UK Internal Market Scheme process for using the UKIMS entry in the declarant’s records to move goods when the new Windsor Framework arrangements come into effect: www.gov.uk/guidance/apply-to-make-an-entry-declaration-in-your-records-under-the-uk-internal-market-scheme, Notification of presentation waiver: www.gov.uk/guidance/apply-for-a-notification-of-presentation-waiver-for-goods-moving-from-great-britain-into-northern-ireland, Categorisation: www.gov.uk/guidance/categorising-goods-for-internal-market-movements-from-great-britain-to-northern-ireland, Safety and security requirements on imports and exports, Register to use the Import Control System 2, Make an entry summary declaration using the Import Control System 2, Register to make an entry summary declaration in Northern Ireland, Making an entry summary declaration, Certified traders and tax representatives — EU trade in duty-paid goods, How to claim a repayment of import duty and VAT if you've overpaid, and Get proof your goods have Union (EU) status. Miscellaneous guidance updates and publications  Pay into your Customs Declaration Service cash account, Internal temporary storage facilities (ITSFs) codes for Data Element 5/23 of the Customs Declaration Service, Report a problem using the Customs Declaration Service, How to claim a repayment of import duty and VAT if you've overpaid, Search the register of customs agents and express operators, and Check if you can apply for other transit simplifications with consignor or consignee status,  

Integrity due diligence is essential for identifying risks, protecting reputations and ensuring compliance in today’s evolving business landscape, explains Deirdre McGrath Integrity due diligence (IDD) identifies risks that traditional due diligence might miss by using a risk-based approach to review the compliance and integrity of potential counterparties. Key risk categories reported on include financial health, anti-bribery and corruption, political connections, environmental impact, reputational risk (e.g. adverse media) and labour/human rights issues. Trust, reputation and risk mitigation are crucial in today's fast-paced global business environment. Knowing your customers, suppliers or contractors before and during business engagements is essential for making informed decisions and managing risks effectively. Public scrutiny and evolving regulations are putting increasing pressure on companies to identify and mitigate risks with business partners, including suppliers, customers, agents and employees. These risks encompass sanctions, financial sustainability, environmental impact, forced labour and human rights abuses. New EU regulations mandate supply chain mapping and human rights risk assessments. For instance, in March 2024, the European Council and Parliament agreed to prohibit products made with forced labour. IDD reviews can identify these risks.  PwC’s 2024 Global Economic Crime Survey revealed that only 50 percent of Irish companies had a third-party risk management programme. IDD is crucial for risk mitigation, helping organisations understand their counterparties and make informed decisions. For companies, IDD can identify ownership structures, business activities, clients, partners, financial performance, reputation, misconduct, disputes, litigation, key stakeholders, sources of funds and political connections. For individuals, IDD can examine career history, corporate affiliations, directorships, shareholdings, adverse media, litigation, financial positions, reputation, financial trends, insolvency, political connections, donations and sources of wealth. The UK’s Financial Conduct Authority (FCA) recommends open-source internet checks as “good practice” for human resources and high-risk customer research. Benefits of IDD IDD is essential for an organisation’s risk assessment process, helping meet obligations related to anti-money laundering, bribery, corruption and environmental, social and governance requirements under the Corporate Sustainability Reporting Directive and other regulations, such as those issued by the Central Bank of Ireland. It supports due diligence and compliance for mergers, acquisitions, investments and joint ventures. When adverse issues are identified, businesses can make informed decisions to either withdraw interest or implement mitigating procedures to protect their integrity and reputation. IDD also aids in reputation and brand protection by highlighting risks associated with existing or potential suppliers in relevant jurisdictions. It provides strategic, competitive intelligence by gathering information on competitor strengths and weaknesses, impacting growth opportunities and long-term strategy through industry trend analysis. In legal proceedings, IDD can play an important part in securing financial orders by identifying evidence to recover misappropriated funds. For higher-risk third parties, IDD can form part of a legal defence, demonstrating that a corporate body took “all reasonable steps” and “exercised due diligence” to avoid bribery and corruption offences. There are several use cases for IDD, which are outlined below. Know your client, supplier or employee: Conduct detailed reviews of business partners or potential hires, focusing on key risks such as financial performance, reputation (both positive and negative), and ESG risks. CSRD: Help clients report using the European Sustainability Reporting Standards (ESRS) and support company and auditor determinations that a topic/sub-topic may or may not be material to a company. Fitness and probity diligence for regulated firms: Perform background checks on individuals to support initial and ongoing fitness and probity certifications for key and customer-facing roles under the Central Bank of Ireland’s Individual Accountability Framework. Global sanctions screening: remediation screening, support for sanctions investigations and ongoing monitoring or advisory services for sanctions policies, procedures and processes. Mergers and acquisitions diligence: Identify information to evaluate businesses, assess potential value, and understand legal risks associated with transactions, including liability, debarment, prior conduct, ownership and management conflicts of interest. Joint ventures, partnerships, or business alliances: Understand significant risk relationships, especially in higher-risk countries, and assess potential sources of funding, wealth or media findings. Business divestment: Evaluate who you are doing business with or selling your business to, ensuring informed decisions. Investigations: Support investigations by identifying personal, business or social connections between various parties of interest. Asset tracing: This involves identifying assets held by companies or individuals, such as equity, property, and other lifestyle assets. It helps banks pursue defaulting borrowers, supports divorce cases, assists in pre-civil litigation and identifies evidence of fraud or misappropriation of assets. Looking to the future: recent legislative developments Companies should be aware of upcoming European directives, specifically the CSRD and the Corporate Sustainability Due Diligence Directive (CSDDD). These directives will increase the focus on due diligence within global operations and supply chains to prevent adverse human rights and environmental impacts. They will also drive more detailed reporting, disclosure requirements and transparency around business processes. Findings from IDD open-source intelligence searches and related human-sourced intelligence resources can help clients avoid penalties for non-compliance with these new regulations. These four key steps will help organisations get ready for IDD: Prepare: start preparing early to ensure compliance with upcoming legislation. Assess: determine if and how the new legislation applies to your company or group of companies. Appoint: designate an internal lead or project team to develop due diligence policies, procedures and infrastructure. Ensure timely implementation of necessary changes. Decide: choose the due diligence process that best suits your requirements. Deirdre McGrath is a Partner at PwC 

Eva Sheehy explores how Irish businesses are leading in ESG readiness, with CEOs confident in meeting 2025 deadlines and reaping financial and strategic benefits As deadlines for environmental, social and governance (ESG) reporting rapidly approach, Irish businesses are intensifying their focus on robust ESG programmes. In the EU, reports are due to start appearing from the largest companies in early 2025, and this reporting wave will require independent assurance on ESG and human rights matters. Recent findings from the KPMG CEO Outlook 2024 illuminate the critical importance of these initiatives, highlighting a strong conviction among Irish CEOs that ESG practices hold financial benefits. Global context vs Ireland's position Globally, the situation is challenging. KPMG research has found that only 29 percent of companies worldwide have the ESG policies, skills and systems in place to be ready for independent ESG data assurance despite looming deadlines. The gap between leading companies and those in the early stages of assurance readiness is also widening, with skills and resources seen as the single biggest challenge for all levels of maturity. However, here in Ireland, we are in a much stronger position. Recent findings from the KPMG CEO Outlook 2024 highlight that 60 percent of Irish CEOs report that their organisation possesses the necessary capability and capacity to meet these stringent reporting requirements – preparedness that is crucial as companies navigate the complex landscape of ESG reporting, which demands transparency, accuracy and accountability. The clock is ticking. In preparing for ESG assurance, businesses are discovering that as they advance, there’s always more to understand and accomplish. This commitment is worthwhile – boards are placing greater emphasis on ESG assurance and leaders are noticing a broader array of benefits as practices associated with it become integrated into their businesses. Robust ESG reporting also provides a framework for continuous improvement as companies set ambitious targets, monitor progress and make informed decisions that drive long-term value creation. Assurance services play a critical role in this process, providing independent verification of ESG data and enhancing the credibility of the reported information. The business case for ESG initiatives The business case for ESG initiatives is increasingly well-defined. Recent research from KPMG also shows that 63 percent of organisations in Ireland are fully embedding ESG into their strategies to create increased value. The return on investment is also predicted in the relatively near future, with 66 percent of CEOs in Ireland believing such robust ESG programmes will enhance their financial performance over the next five years. This integration reflects a broader trend towards sustainability and ethical governance, which not only meets regulatory requirements but also aligns with investor and consumer expectations and underscores the growing recognition of ESG’s vital role in business strategy and its potential to drive value and sustainability for stakeholders. The critical role of robust ESG reporting and assurance As reporting deadlines loom, the importance of robust ESG reporting and assurance cannot be overstated. Accurate and transparent reporting is essential for building trust with investors, customers, and employees. It demonstrates a company’s commitment to sustainability and ethical practices, which are increasingly important criteria for stakeholder engagement. Skills and resources a key challenge Obtaining appropriately skilled and experienced people will also be a challenge. Many businesses are looking for the same skillsets at the same time, and those skills are very specialised. On top of that, the further businesses advance in the process, the more skills requirements they discover they will need to reach full ESG reporting and assurance maturity. This often involves not only hiring new talent, but also investing in extensive training for existing employees to ensure they are up-to-date with the latest standards and practices in ESG reporting. Ultimately, Irish businesses must remain adaptable and proactive as the landscape evolves, requiring a dynamic approach to skill development. This is essential to meet the stringent requirements and to achieve the long-term benefits of robust ESG practices. Eva Sheehy is Director in the ESG Reporting and Assurance team at KPMG

Kate Flanagan shares five expert tips to redefine success, celebrate progress, and climb with confidence on your unique career journey Feeling stuck on the never-ending rungs of the career ladder? Don’t worry, it happens to the best of us. But before you lose hope, remember that the ladder might not be as rigid as it seems. Here is the truth about career progression – it’s not a one-size-fits-all climb. For some, reaching the next rung means a promotion and a new title. For others, it’s about tackling bigger challenges or mastering new skills. The key lies in defining what “upward movement” means for you. Here are five tips to help you climb that career ladder with confidence. 1. Goal setting on the ladder Setting clear goals, big or small, is vital throughout your career journey. What do you want to achieve on the next rung of your ladder? Is it a specific promotion, a certain skill set, or a leadership role? Defining your goals helps you visualise the path ahead. 2. Celebrate every step up Acknowledge and celebrate your accomplishments! Taking a moment to reflect on how much you have learned and grown since you started climbing the ladder is incredibly motivating. You have climbed rungs already, and you can still climb many more. 3. Explore opportunities on your current rung Before aiming for the next step, assess your current position. Is there potential for taking on additional responsibilities? Training programs to boost your skillset and help you climb higher? Talk to your manager and see if there is room for internal growth. 4. Network up and down the ladder Your professional network is your career lifeline. Building strong connections with colleagues and mentors, both above and below you on the ladder, is crucial. These connections can offer guidance, open doors to new opportunities, and even become supporters on your climb. 5. Push yourself beyond the rungs Step outside your comfort zone and embrace challenges. Public speaking, attending networking events, or simply speaking up in a meeting – these experiences push you professionally and equip you for the next rung of the ladder. Remember, your career path is unique. Use these tips to define success on your terms and climb that perfect career ladder – the one that leads you to your specific goals. Kate Flanagan is a Tax, Treasury, and Practice Partner at Barden

The CCAB-I Insolvency Committee has recently published Technical Alert 03/2024 Succession Planning for Insolvency Practitioners. Insolvency appointments are taken in a personal capacity by an Insolvency Practitioner, who has an obligation to ensure that cases are properly managed at all times, and to have appropriate contingency arrangements in place to cover a change in the Insolvency Practitioner’s circumstances. This Technical Alert maps out a succession plan for an Insolvency Practitioner and covers some of the high-level considerations and discussion points to be considered by Insolvency Practitioners.

Circumstances more than work brought Mark Murtagh ACA to Spain five years ago. And, there could be more adventure to come. Where did you grow up and where do you live now? I grew up in Perrystown Dublin, and I studied Business & Accounting in TU Dublin Tallaght. I then completed my training contract in PKF, before working with O´Regan & Co for two years. My partner had moved to Barcelona to further her education, so I then decided to take the jump and move to Spain. What made you choose to be a Chartered Accountant? I had an interest in accounting and general business topics since I was young. I was always the first to grab the business sections of the Sunday newspapers, and I suppose my interest just grew from that into wanting to become a Chartered Accountant. It always came across like a great profession that opens doors for you and goes much further than just double entry, which has certainly proved to be the case for me!  Can you tell us a little about how you got to where you are today – both geographical relocation and career path. After completing my training contract with PKF, I worked with O´Regan & Co as Audit & Assurance Manager for two years, which allowed me to further develop my personal and business skills across a wide client base. My career however then came to a crossroads. My partner was already living in Barcelona Spain, and even though I was travelling back and forth monthly, it came to a point where I felt moving abroad could actually be a great opportunity to get out of my comfort zone both professionally and culturally. By nature, I am more of an introverted type of person, so the thoughts of moving abroad did give me some concern. However, looking back, it has been the best decision I could have made. I now work for Page Group, which is a British international recruitment company, as our Global Controls Assurance Manager. I am responsible for managing our risk & control framework across our Global Transactional Finance function. While we do have a key Shared Service Centre here in Barcelona, my scope also covers our other regional Shared Services Centres, which includes Slough, Buenos Aires, and Singapore.  I started working for Page Group shortly after arriving in Spain, so I have seen multiple roles in this timespan. In 2017, I started as an R2R Finance Process Specialist, responsible for documenting and improving our procedures, which then transitioned into working on the implementation of our new ERP for Europe. In 2020, I was promoted to R2R Global Process Owner, where I was responsible for managing and implementing standardised processes globally, before moving to my current role in early 2021, which required me to setup a new function and team within the organisation to manage our internal controls which includes financial and system controls within the Global Transactional Finance department. Over the past five years, I have also been lucky enough to travel to other key locations for my company which includes Paris, Stockholm, Amsterdam, London, Buenos Aires and shortly Singapore. What do you value most about your membership of the profession and how do you think those benefits can be used to support the economy and society? The Chartered Accountant qualification has opened doors for me which I never would have thought possible five years ago. The training we receive allows us to provide valued opinions across a wide range of technical areas in any business or society, be it practice or industry. As a member living in mainland Europe, can you talk to us about how your membership has been of value to you globally and what do you value about it now that you´re living overseas (and what would you like to see more of)? Living in Spain, Chartered Accountants is not as widely recognised publicly, however, it is a well-respected qualification and I believe it played a key part in helping me succeed, firstly in getting a job in Page Group, but also on what I have achieved since. Over the past five years, I have not only been able to progress in a professional sense, but also from a personal point of view. The plan is to stay in Spain for now, the way of life here is more relaxed, and the weather helps of course! My next goal is to further improve my level of Spanish and then see where life takes me next!  And finally, if you weren´t an accountant, what do you think you would be/have been? I think I would have been a policeman! Mark Murtagh is Global Controls Assurance Manager at PageGroup

Elizabeth Munnelly lives in Wisonsin, but got there via Dublin, London and Kilkenny. Read more about her journey from rural Mayo to the USA here. Where did you grow up and where do you live now? I grew up in a small rural village in North Mayo called Ballycastle which is home to an iconic landmark on the Wild Atlantic Way. I attended college in Dublin City University to study Accounting & Finance and stayed in Dublin for close to 10 years before moving to London, Kilkenny and now finally the US to work across a variety of different roles for a number of companies. I currently work for Kerry Group based in our North America HQ in Beloit , Wisconsin as VP of Financial Control, Tax, Treasury & FPA.  What made you choose to become a Chartered Accountant? My family run a small restaurant in our local village of Ballycastle, and so I grew up in an environment of understanding how business needs to run in order to be profitable, to always be able to pay your bills, minimise your waste and pay off your debts. The hospitality industry was a great place to learn about business as the margins in food and hospitality are minimal. Also, I always loved maths and business studies in school so Accountancy did feel like a natural fit. Once I joined the Accounting & Finance degree in DCU it was clear to me that the Chartered Accountant qualification was one I wanted to achieve and so I did this via the route of completing a training contract with Deloitte in Dublin where I worked in the Consumer Business division with a variety of different clients.  Can you tell us a little about how you got to where you are today – both the geographical location and your career path? While completing my training contract with Deloitte I became very interested in industries in the FMCG space such as retail and food as they are such an integral part of day to day life and I found this very interesting. I would advise people to try and be involved in a business in which they have some interest personally as this really will help to cement your connection with the company you work for and also hopefully create a sense of belonging.  After my training contract I joined Tesco in their Ireland office based in Dun Laoghaire, Dublin and worked in the Commercial division where I learnt a huge amount about the way retail operates at its very fast pace! I subsequently held another role in Tesco based just outside London before moving home to Ireland again and moving to Glanbia to work in both the Corporate Division and the Sports Nutrition division. After that I joined Kerry, initially based in Naas holding an Operations finance role which enabled me to visit a number of factories across the globe. I then relocated to North America, first completing a Commercial Finance role as Finance Director Beverage before moving to my current role as VP of Financial Control, Tax, Treasury & FPA.  One of the key learnings I've had in my career to date is to make sure to own your career planning and development as nobody else will have as strong a drive to make it happen as you do.  What do you value most about your membership of the profession and how do you think those benefits can be used to support the economy and society? The key value I see in the accountancy membership is the professional, educational and ethical standards it sets and maintains for all its members; organisations are assured of certain standards when an individual has this qualification and this is very important for the economy and society at a wider level. As a member living in the USA, can you tell us about how your membership has been of value to you globally and what do you value about it now that you're living overseas (and what would you like to see more of)? As I've mainly been overseas during Covid times, I have not utilised the in-person events yet. However I do keep abreast of updates and trends as highlighted by various updates and online courses. I think the key piece for me is having a ready resource to access services and other professionals when needed and I do see this continuing to be very important for me as my career continues.  And finally, if you weren't an accountant, what do you think you would have been? I think I would have worked in the hospitality or tourism sector! Elizabeth Munnelly is VP of Finance at Kerry.  

It may be a long way from Monaghan to Sydney, but Eimear McCarron now calls Sydney home. We found out more about her journey recently, and will keep an extra sharp eye on the Australian Open Tennis from now on! Where did you grow up and where do you live now? I’m from Emyvale in Co. Monaghan & I went to university in Queens Belfast, trained in Deloitte Dublin and I now live in Sydney Australia. What made you choose to become a Chartered Accountant? I don’t remember making the decision but I think that I wanted a profession that would give me great career and personal opportunities. My father has his own business so I did work experience in his accountants when I was at school. I like that as a chartered accountant you can be involved in anything from helping family businesses to being the CFO/CEO of a huge multinational. Can you tell us a little about how you got to where you are today – both the geographical relocation and your career path? I really enjoyed my time in Deloitte, Dublin, and think it was the best training and experience I could have had to start my career. However, I had a strong desire to travel and to try living abroad, so after a few months traveling in South America I moved to Sydney in 2014 with a few other Deloitte friends! I was lucky to get a job in Vodafone under another Irish Chartered Accountant, and they sponsored me after six months. I ended up staying in Vodafone for nearly five years doing several roles from FP&A analyst to merger integration planning so I got a very varied experience there.  I’m currently a Senior Finance Manager at Nine Entertainment – Australia’s largest media company. I lead the finance business partnerships for all group departments which includes sales, technology, head office, property, P&C, finance & legal. I really enjoy working directly with and learning from the most senior management in Nine and it’s exciting working for a media company that covers TV, radio and publishing. What do you value most about your membership of the profession and how do you think those benefits can be used to support the economy and society? The most valuable part is definitely the career opportunities it gives you. In Sydney, the Irish Chartered Accountant brand is very powerful and has a very strong reputation – employers hold it in high regard. I think the path to becoming a chartered accountant really sets you up for whatever path you choose next – the work ethic and experience you get while training really stands to you. As a member living in Australia, can you tell us about how your membership has been of value to you globally and what do you value about it now that you're living overseas (and what would you like to see more of)? I recently joined the Australian Society committee as I’ve always gone to the networking events over the years and found them a great way of catching up and meeting new people. Membership gives you that link to a professional community and I think it can definitely help new members moving overseas whether it be getting job opportunities or making friends in a new city. In-person events probably haven’t properly kicked off again since Covid so I’m looking forward to them returning soon.  And finally, if you weren't an accountant, what do you think you would be? I’ve recently taken up tennis so maybe if I had started that a bit earlier that could have been the career for me! Realistically, I think I might have liked engineering or something along those lines either.  Eimear McCarron is Senior Group Finance Manager at Nine.        

We caught up with Martin Devine, a member based in Perth, Western Australia, for a quick chat. Can you tell us a little about where you're from originally? I'm from just outside Ballymagorry in Tyrone, around 20 minutes from Derry and just across the border from Donegal. Why did you choose to become a Chartered Accountant and how did you got here? I became a CA to follow on from my degree in Accountancy. I always enjoyed working with numbers and it seemed like the next logical step. At that point I didn’t have a clear idea of where I'd like to end up career wise, but I thought the CA would help as a next step. I travelled to Australia with my girlfriend for a year in 2010 and we haven’t given up yet. I started off in a range of roles over eight years working with a private engineering company and in 2018 I moved on to Mader Group, an ASX listed heavy equipment maintenance company in the Group Financial Controller role. What do you value most about your membership of the profession and how do you think those benefits can be used to support the economy and society? I think the thing I appreciate most is how difficult it was to attain membership. The hours of travel, classes, study, exams really galvanised students on the way through. The result is that now when I see Irish CA on a CV, it immediately stands out from the rest. I was told by my practice partner when leaving Ireland that the Irish qualification was very well thought of, but it wasn’t until I started hiring that I realised the consistent high standard of people who make it through the programme. You have just spent the last 15 months living with Covid in Perth, Australia. Tell us a bit what that was like for you professionally and personally Professionally it's been a challenge. Border restrictions internationally and interstate have restricted our people movement which has made it difficult to continue to grow. Quarantine costs from travel and staff retention during this period have seen a hit on margin but that’s recovering now and we’re seeing growth back on a steady path locally and internationally. Personally, it's been tricky at times. We’ve had a few short sharp lockdowns but comparatively we’ve been incredibly lucky to still move freely for most of that period. We’ve welcomed our second baby in the last three months so busy times at home! Where is the first place you will go when travel in and out of Australia re-opens? We’d love to go home and show off our new boy. He hasn’t met his grandparents yet so would be great to get home for a period. A beach holiday would be great, but I think restrictions of some sort will be here across Asia for a while. And finally, Martin, if you weren’t an accountant, what do you think you would you be/have been? I always fancied myself running a restaurant, not sure if it would be front of house or in the kitchen but that would be the idea I think. Set aside the lack of cooking skills and knowledge of food retail!  

As a newly qualified Chartered Accountant, Paul Barron ACA was offered a position in Costa Rica. He packed his bags for Central America and now reflects on his experience - with some insights and advice for others in the same position. I trained as a Chartered Accountant with KPMG, qualifying in 2014. Shortly after finishing my training position, I took up a position with Fyffes (the banana people!) as an internal audit manager. This position involved travelling to the various Fyffes locations worldwide, performing controls testing as well as inquiring and then reporting back to the Board of Directors with my findings. After nine months in this role, I was offered a longer-term position as Financial Controller in Costa Rica. It seemed like a great opportunity to have a new experience and progress my career, so I went for it. I was nervous of course, but I spent three years in this role before returning to Head office in Dublin in March 2020.  Overall it was a great experience and I am very glad I did it, and here are my thoughts on the benefits and challenges of working abroad as a Chartered Accountant. Benefits and opportunities Excellent work opportunity – I managed a team of 12 people and was a central part of our operations in Central America. My willingness to relocate afforded me the chance to have a very stimulating and dynamic job which I don’t think I would have been considered for, at that stage of my career (1-year PQE), in companies of a similar size had I remained in Ireland. I got valuable management experience and really had to hit the ground running, which has stood to me since. Experience and exposure to interesting, varied work. I think I might have been exposed to some of these in a standard setting but going abroad to Costa Rica meant I was doing standard work in a non-standard (for me) environment like a large-scale farming operation or getting to see the tangible links between the finance team and the operation itself. During my three years in Costa Rica, I: got hands-on FC experience reviewing a large farming operation had the opportunity to manage a cross-cultural team was exposed to and given the opportunity to manage large capital projects interacted with most of the departments within the business and learned more about how they work Experience of a new culture and a new language Spanish was the language in the office and the operation, so I took classes and worked extremely hard on getting to a conversational level in my first six months working in Costa Rica. I like languages and have French in my primary and master’s degrees, so this was very enjoyable but also tiring and a big challenge I lived and worked in an area of the world about which I knew very little before relocating – it was enjoyable getting to know about a new culture, food, people and traditions and I’ll always have a nice connection with Costa Rica and  friends made along the way. Challenges The first nine months were exhausting with getting to grips with a new job that entailed a lot of responsibility; learning a new language; settling into a new home and trying to make new friends. I’d recommend a long holiday after about six months if you are considering relocating.  It takes some time to adjust to working within a cross-cultural team. I enjoyed the different outlook as time went on, but at times different approaches to tackling problems surprised and sometimes frustrated me. It was definitely a learning curve I was lucky that I had some Irish colleagues in the Costa Rican office. This certainly helped but integrating into a very different culture was tough and isolating at times and should be considered before relocating.  In summary Overall, I am really glad to have done it. I feel privileged to have been offered the opportunity to experience working in Costa Rica. Going to a different language, culture and climate all give rise to moments of culture shock and homesickness, but also moments of real enjoyment. You do need to be realistic about the pros and cons but also resilient and somewhat brave.  Having the comfort of my ACA qualification and Institute membership, my Irish colleagues in Costa Rica and my company support both there and at home all made the move much more accessible. I could have come up with as many reasons to not go as to go, so I have no regrets but am happy to be home! The experience in Costa Rica did definitely help me to establish and progress within my career and I know will continue to stand to me. I may still keep my eyes and ears open for other international opportunities. Institute supports I found the Career service very helpful throughout. I spoke with Karin Lanigan on average three or four times a year and still do on my career development. It has been extremely useful to help me plan my career and also have a sounding board when decisions have to be made. It is a great and unbiased service which has been a real help to me. In particular, it helped me plan my move home - which can be as challenging a transition as the initial move.

New research highlighting the prevalence of burnout in the accountancy profession underscores the importance of understanding the symptoms and reaching out for help, writes Cristian Holmes Being a Chartered Accountant is a highly respected and rewarding career choice, and there are a great many people who are incredibly happy in their role.  However, for some, long working hours and tight deadlines can make for a high-pressure environment, which can sometimes lead to severe physical, emotional and behavioural symptoms we often associate with burnout. New research shows the concerning prevalence of chronic stress and other burnout-related symptoms within the profession. Findings of new research Based on a study of more than 300 Chartered Accountants from a range of accountancy bodies in the UK, our research has found that 74 percent have experienced some form of burnout in the last 12 months. Thirty-six percent reported suffering from insomnia or disrupted sleep, 32 percent had been diagnosed or self-identified with depression, and 29 percent had experienced regular panic attacks. Within their working lives, two in five said symptoms of burnout had impaired their ability to do their job or prompted them to take time off. Excessive workload was cited as the number one cause of burnout (46%), followed by work-life imbalance (45%), monotonous or unchallenging work (32%) and a lack of support from supervisors (31%). 10 signs of burnout   Burnout occurs when we feel overwhelmed emotionally and physically – so much so that it becomes almost impossible to function in our work or personal life or both.  Burnout affects people in different ways. Stress is often an early warning sign of burnout and one of the main symptoms, but here are a few other signs to look out for:  1. Brain fog  Because our brains are worrying about so much, it can impact our ability to think clearly. This can lead to you struggling to understand instructions from your manager and complete basic tasks.  2. Joint pain  Our brains interpret physical and emotional pain in the same place – the amygdala. This means that prolonged emotional pain can also lead to physical pain, ranging from sharp, shooting pains to constant aching and pulsing pains. 3. Tiredness  Feeling fatigued because your energy levels are low can result in you wanting to sleep longer because you’re trying to regain the energy you’ve lost from working so hard. What’s more, operating with less energy can also be more draining. 4. Poor motivation  When you’re burnt out, it can be a challenge to do the things you usually don’t mind doing. You may find you’re struggling to get out of bed in the morning, finding cooking a chore and avoiding team meetings and work outings.   5. Irritability   Low energy levels and the lack of sleep brought on by burnout can also result in people generally having less patience and getting aggravated by things that wouldn’t usually irritate them. 6. Detached outlook  Being pushed to the brink can lead to feeling detached from everything around you. It may be that things you used to enjoy no longer appeal to you, or, in more serious cases, you stop caring about yourself (e.g. personal hygiene) and those around you.  7. Digestive issues  Our digestive system can be heavily affected by our body’s fight-or-flight response. Issues such as diarrhoea, irritable bowel syndrome (IBS), nausea and indigestion are some of the ways stress can impact our digestive system. 8. Anxiety   A constant feeling of dread, and there being no apparent reason for that dread, can be a sign of burnout or generalised anxiety disorder. The disorder can be aggravated or caused by long-term stress and burnout.   9. Constant overdrive   You may find yourself worrying about work, even when you’re taking part in fun activities, such as family days out. When you can’t switch off, it’s not uncommon for you to constantly be worrying about what could happen, even when it might not. 10. Feeling overwhelmed   When you hit a certain point, you may find that you feel overwhelmed emotionally, even if there isn’t much going on. You may have a lighter workload than usual but are struggling to get through it because you have less energy and motivation than usual. Reach out for support We would urge anyone struggling with feelings of burnout to reach out – whether it be to a loved one, a friend or a member of their community.  You will find that no matter how low you are feeling, there is always someone there to support and guide you. You are never alone. Cristian Holmes is Chief Executive of the Chartered Accountants Benevolent Association, the occupational charity for members of the Institute of Chartered Accountants in England and Wales and their close families

With the EU Accessibility Act on the horizon, now is the time for organisations to step up and make sure their digital content is accessible before June 2025. Sacha Brinkley explains What is the European Accessibility Act? The European Accessibility Act is a directive to ensure certain products and services are accessible to persons with disabilities. It was transposed into Irish law in 2022 and will apply in Ireland from 28 June 2025. The sectors in scope of this act are commerce (including e-commerce), banking, telecoms, transport and technology. These are very broad and cover a range of companies. For most, e-commerce would probably fall under this legislation, meaning any websites that sell services will need to be accessible. Non-compliance and exemptions There are ramifications for non-compliance, which include: a fine (€5,000) or imprisonment of up to six months or both; a fine of up to €60,000 or imprisonment of up to 18 months or both; or litigation. However, there are some limited exemptions. If your product or service fundamentally changes due to this legislation, or if compliance would create an undue burden for your company, the organisation may be exempt. In both cases, it is essential to ensure you have the proper documentation for the relevant authorities, especially if it leads to litigation. Steps to accessibility With the deadline looming, making digital content and services accessible can be seen as an onerous, overwhelming task. However, there are some practical steps that you can initiate today to help you get ahead of the curve. Stay informed: Stay updated on the latest news concerning the directive and regulations, as this will guide the necessary steps for you or your clients to ensure accessibility. Accessibility audit: Consider conducting an accessibility audit of your online offerings. While this can be expensive and may not be feasible for everyone, it is worthwhile if you have the extra budget. If you are using a third-party service to host your website, such as Wix or SquareSpace, check what accessibility measures they have implemented. Accessibility statement: After your accessibility audit, write an accessibility statement on your website outlining what’s accessible currently, what isn’t accessible, and what you’re working on to make accessible. Invite your users to email you with any concerns or feedback. Being transparent and honest about your accessibility journey will not only demonstrate to users your dedication to inclusion but will also help your case if it comes to litigation. Accessible content: Going forward, make sure all your content is accessible, as well as your marketing. Easy wins The quick wins all involve your digital content. Some require a little more effort than others, but if you can follow these steps then you’ll be well on your way to compliance come June 2025. PDFs When creating PDFs, consider the following: Use accessibility tagging in your PDF so screen readers can navigate your content. This can be done in Word or PowerPoint before exporting to PDF. Write alternative text for every image unless decorative. Provide contact details for an accessible version of your document (for example, in a Word or Excel format) to show that you are being inclusive and compliant. Consider ditching PDFs entirely – could this document be a webpage instead? Images It is important to consider colour contrast. Proper attention to this detail can significantly enhance visual clarity and overall effectiveness in design. You can check colour contrast online. Use text sparingly and make sure your font size is big enough to be legible – at a minimum, the font should be 12pt. Social media and newsletters Always provide alternative text for your images. Write your hashtags in CamelCase. For example, #charteredaccountantsireland should be #CharteredAccountantsIreland. Not only is it easier to read, but you also avoid potentially embarrassing mistakes. Audio and visual When setting up online events, use headphones and a dedicated microphone rather than rely on laptop hardware. This reduces ambient noise and distractions for all users, as well as those with accessibility and sensory needs. Provide captions for your video and transcripts for your audio, as well as a descriptive voiceover when you just have music playing. You may need a sign language interpreter at events where someone deaf is present – check with the attendee first, however. Key takeaways With the rise of artificial intelligence technology and accessibility regulations, we’ll be seeing a digital revolution over the next five years when it comes to digital inclusion. By embedding the steps outlined above in your everyday practices, you’ll get a good head start on your digital inclusion journey. Sacha Brinkley is Content Editor at Chartered Accountants Ireland

Moira Grassick shares her essential tips to help you maintain professionalism at your holiday party without being a party pooper Office holiday parties are a great way to celebrate achievements and strengthen bonds between staff. Despite careful planning and clear guidelines, these festive gatherings can sometimes lead to unexpected issues, however, posing potential challenges for leadership. From inappropriate gifts to workplace conflicts, holiday gatherings require a thoughtful approach to ensure they are inclusive, respectful and enjoyable for all.   Set clear expectations  The Christmas party might take place outside the office, but workplace policies still apply. It is essential to communicate a code of conduct in advance, reminding employees that they represent the company and should act accordingly. Disciplinary action can still apply for misconduct. Harassment and discrimination  Recognise that not everyone celebrates Christmas; some employees may hold different cultural/religious beliefs. Failing to acknowledge this can lead to feelings of exclusion or even discrimination claims. Use inclusive language, such as "end-of-year celebration", and strive to create an environment that welcomes everyone.  It’s important to remember that victims of harassment can raise complaints against employers in circumstances where the employer has failed to take all reasonable steps to prevent harassment from occurring, even at the annual holiday party.  Plan Secret Santa thoughtfully  Secret Santa exchanges can be fun, but it is essential to approach them with care and professionalism. Remind employees to choose gifts with dignity at work principles in mind to reduce the chances of an employee being offended by another’s attempt at fun.  Alcohol and substance usage  Office parties can be a fun way to unwind, but they also come with the potential for risks related to alcohol and drugs. Excessive drinking or substance abuse often leads to unprofessional behaviour or misunderstandings. To mitigate such risks, consider limiting complimentary drinks, providing non-alcoholic alternatives, banning substance use and appointing supervisors to oversee the event.  Prevent social media chaos  When your Christmas party is in full swing, it’s likely employees will snap pictures or videos. If your business is tagged on social media, it’s there for the world to see. If an inappropriate incident is captured online, your reputation is at risk.  To prevent the sharing of risky content, remind employees of your social media policy to clarify expectations.   Plan for the morning after  Should your Christmas party fall on a ‘school night’, it’s important to plan for the morning after. Let employees know ahead of time if they are expected to start work at the normal time or if you’re giving them some leeway. Remember your health and safety responsibilities. If employees drive or operate machinery for work, take appropriate precautions. This includes employees who commute by car. Anyone planning on having a heavy night should make alternative arrangements for the morning.   Remind employees not to report for work under the influence of alcohol or drugs. If they do, you will most likely need to take further disciplinary action.  Be prepared to address issues  Despite your best efforts, issues may still arise. Ensure employees know how to report inappropriate behaviour and that managers are trained to handle complaints fairly. Don’t forget your health and safety obligations outside working hours as well as having a review of your existing policies. Include any relevant policies from your employee handbook, such as codes of conduct, alcohol consumption, anti-harassment, absence, health and safety, disciplinary/grievance and social media. Swift action and proper investigation are crucial to maintaining trust and demonstrating a commitment to a respectful workplace.  A well-planned office holiday celebration can boost team spirit and acknowledge the year's achievements. By setting clear expectations, respecting diversity and managing risks, you can ensure the event is memorable for the right reasons.  Moira Grassick is COO at Peninsula Ireland

Chartered Accountants Ireland was proud to host the launch of Dublin City University Access to the Workplace 2025 in Chartered Accountants House on Pearse Street this week. Now in its sixth year, this award-winning programme provides professional summer internships for DCU Access students from socio-economically disadvantaged backgrounds, and for neurodivergent students. The launch event, Beyond Bias: Unlocking Future Talent, explored how organisations can develop a workforce that is diverse, inclusive and ready to embrace the possibilities of an unscripted future. Commenting Barry Doyle said  “We are proud partners of this programme and fully support the work DCU do in the area of recognising and supporting those whose potential might otherwise have been overlooked. By opening doors to these talents, DCU and their corporate partners are helping to level the playing field, broaden perspectives, and build a workforce that truly reflects the diversity of Ireland’s future. This event not only shines a spotlight on this hugely impactful initiative but also reaffirms our collective commitment to diversity, inclusion, and innovation in the workplace.”

Last week the Institute met with HMRC to discuss the 2024 Autumn Budget. We expressed concern and shared our views on the impact of a range of changes including increased employment costs as a result of the National Minimum Wage and employer National Insurance Contribution changes from April 2025. We also highlighted the damaging impact that the 2026 changes to key inheritance tax reliefs (agricultural property relief and business property relief) will have, particularly for Northern Ireland family-owned businesses and farms. The Institute recommended to HMRC that the Government consult more widely on these particular changes and we highligted the need for any anti-forestalling legislation to be fair. These changes should not impact retrospectively on lifetime gifts already made in the seven years prior to 6 April 2026. The changes need to be properly considered before implementation given the impact they will have on both indigenous businesses and investors in the UK. Other issues discussed were the fuel duty dilemma, tax simplification, the taxation of electric vehicles, the practical impact of the in-year capital gains tax rate changes, the extension in this Parliament of Making Tax Digital for income tax to the £20,000 - £30,000 turnover population and regulation of the UK tax agent market.  

At the Autumn Budget 2024, the Chancellor of the Exchequer confirmed that from 1 January 2025, all education, boarding, and vocational training provided for a charge by a private school in the UK will be subject to VAT at the standard rate of 20 per cent. Any fees paid from 29 July 2024 relating to the term starting in January 2025 and onwards will also be subject to VAT under anti-forestalling legislation.  HMRC has also sent a further email on this. The Government also published a response to its recent technical consultation. A Tax Information and Impacts note and the final draft legislation are also available on the same page. For schools that may be affected by these changes, HMRC has published the following additional material: Check when you need to register for VAT: schools can do this using a new interactive tool. Just click the green ‘Check now’ button, In order to use the online VAT registration system, schools will be asked for their Unique Taxpayer Reference (UTR). This can be found on any previous tax returns and other documents from HMRC, and HMRC has also updated guidance to reflect final policy design, including clarifications on nurseries, further education providers, and non-maintained special schools. In the event of any technical queries about registering for, charging, and remitting VAT, HMRC can be contacted by schools, their representative bodies, and tax advisors via the following email address: vatonprivateschoolfees@hmrc.gov.uk.   

In this week’s miscellaneous updates, the latest Agent Update is available as is the current schedule of HMRC Talking Points live and recorded webinars for tax agents which are available for booking. Spaces are limited, so take a look now and save your place. HMRC has published a new tax agent handbook and legislation impacting the abolition of the pension’s lifetime allowance has been laid. To assist alcohol producers in their preparations for the new digital service which is expected to launch in March 2025, HMRC has sent an email with more information and details of upcoming webinars. With less than 100 days to the 2023/24 self-assessment filing deadline, HMRC has sent a general email reminder and a more tailored email to agents. The rate of interest on late payments of tax has been reduced to 7.25 percent from today and claims for relief from certain employment expenses can now be made online. And finally, check HMRC’s online services availability page for details of planned downtime and the online services affected. Latest Agent Update Agent Update: issue 124 is available now. Get the latest guidance and information including: changes to the Agent Dedicated Line, updates to the Trust Registration Service guidance, less than 6 months left to fill in national insurance gaps to 2006, evidence required to claim PAYE (P87) employment expenses, and help protect workers from getting caught out by tax avoidance. New tax agent handbook HMRC has launched a new Tax Agent handbook which aims to provide information to help tax agents and advisers find guidance, use HMRC's services and contact HMRC. This is an outcome from a redesign of existing tax agent guidance. HMRC will continue to develop this further. Feedback on the new handbook and suggestions for it can be made using the short survey at the top of the main landing page. Pension’s lifetime allowance abolition Legislation was included in Finance (No.2) Act 2023 and Finance Act 2024 to abolish the pension’s lifetime allowance. Regulations have now been laid to implement “technical and consequential changes necessary to ensure the correct operation of the pensions tax regime following the abolition of the lifetime allowance”. Employment expenses tax relief process for uniforms, work clothing and tools Last month HMRC announced that claims for tax relief for employment expenses had to be made by post using form P87 and should be accompanied by supporting evidence. HMRC has now confirmed that claims can now be made online for flat rate expenses for uniforms, work clothing and tools.