Ulster Society news

On 27 November the Ulster Society hosted a webinar delving into the transformative power of social entrepreneurship, exploring how businesses can create meaningful impact while achieving financial success.  Our expert speakers, Diane Hill of the NOW Group and Phelim Sharvin of Community Finance Ireland shared practical insights highlighting how social enterprise can drive positive change in the business world and create a more socially conscious business future. A recording of this webinar is available to view on demand HERE A copy of Diane's slides is available to view HERE A copy of Phelim's slides is available to view HERE

From next year, individual taxpayers will see more in their pockets as a result of the planned reductions in national insurance contributions However, today’s Autumn Statement featured little in the way of immediate tax cuts and supports for small and medium sized businesses As a region, Northern Ireland continues to be left behind on key issues and supports   22 November 2023 – Today’s Autumn Statement was a missed opportunity to provide struggling businesses with tax incentives and supports which would allow them to grow and thrive, according to Chartered Accountants Ireland. The Institute, which represents almost 5,000 members in Northern Ireland, more than two thirds of whom work in business, made these remarks as Chancellor Jeremy Hunt delivered his Autumn Statement in Westminster earlier today. Commenting, Janette Burns, Chair of the Northern Ireland Tax Committee of Chartered Accountants Ireland said:  “Today’s Autumn Statement was clearly delivered with one eye on a general election next year. More cash in people’s pockets after the cuts in national insurance take effect from January and April next year are positive and will also help reduce the cost of employment. But today the Chancellor did not deliver the same level of tax supports that we know many small businesses urgently need and want as they continue to grapple with high inflation. Confirmation that companies will be able to fully expense the cost of capital investment in new plant and machinery against profits permanently, and beyond the original end date of 31 March 2026, is a bold move and will provide the certainty needed for major investment plans, which in turn will bolster the economy and productivity. But this is only of real benefit to larger companies".  What’s needed is targeted incentives and supports for small and medium businesses. For example, Northern Ireland’s hospitality sector could have benefited from a reduction in the 20% VAT rate. Just a few miles down the road in Ireland, the rate is 13.5% and many other European countries have much lower rates than the UK. When coupled with high food prices, this makes it very difficult for Northern Ireland hospitality businesses to compete.   Paul Millar, Chairman of Chartered Accountants Ulster Society added:  “The relief available to SME companies which incentivises R&D activity was reduced by almost 34% from April this year. We urge the Chancellor not to further reduce relief this for genuine innovation activity as part of the plans announced today to merge the two current schemes. This is just another example of where the Chancellor could have taken the opportunity to set out a detailed roadmap for this relief which would have provided certainty to those investing in R&D.  In recent years Northern Ireland businesses have shown how adaptive and resilient they are. This was highlighted at the recent investment conference which showcased the brightest and the best we have to offer. But more needs to be done. The Government needs to recognise and reward this by establishing a pipeline of tax supports and incentives to enable businesses to truly grasp the entrepreneurial mindset which we know would help Northern Ireland crystallise all the opportunities that are there for the taking. Let us not forget that Northern Ireland also has legislation potentially within its grasp to reduce its corporation tax rate to match that in the Republic. Innovation, creativity, and a more entrepreneurial approach will benefit all here by driving economic growth, and job creation.  The time is ripe to help Northern Ireland level up. But this cannot begin until we have our politicians back in Government. Once again, we urge them to look at the bigger picture. We echo the recent sentiment that political decisions should not affect operational decisions. But this equally applies to the business of doing what is needed to help grow our economy, and ultimately benefit all of our citizens.” Other information:- The main tax announcements by the Chancellor today were as follows:- National insurance contributions for the self-employed will reduce by 1% from 6 April 2024; Employee national insurance contributions will reduce by 2% to 10% from 6 January 2024; The 100% deduction available to companies for investments in new plant and machinery is being made permanent and will not end on 31 March 2026; and The UK’s SME and large company R&D tax relief regimes are being merged into one scheme which will commence from 1 April 2024.

A recent survey conducted by Chartered Accountants Ireland has shed light on the significant challenges facing parents seeking childcare in Northern Ireland. The survey, which gathered responses from Chartered Accountants across Northern Ireland, highlights the crucial issues of cost barriers and their impact on career progression, while calling for increased childcare support and parity with initiatives in England. An overwhelming 75% of those surveyed cited cost as the biggest obstacle when securing appropriate childcare in Northern Ireland. For many, the financial burden of childcare is staggering, with two-thirds of respondents currently paying up to £1,000 each month per child. One-third of those surveyed are grappling with even higher costs, paying between £1,000 and £2,000 per month, per child. The survey also unveils the extent to which childcare responsibilities l impacts on career progression. A striking 93% of respondents acknowledged that their careers or working patterns had been affected. The survey found that 22% of respondents had been forced to reduce their working hours, while 29% had requested flexible hours to manage their childcare needs. An additional one-third are contemplating making adjustments to their working hours, underlining the magnitude of this challenge. In a call for improved childcare support, a significant majority of those surveyed expressed their desire to see parity with the enhanced childcare provisions announced in England, such as the commitment to providing 30 hours of free childcare for all children under five by 2025. Parents in Northern Ireland are looking for similar support to alleviate the financial burden and enhance their career opportunities. Commenting on the survey results, Zara Duffy, Head of Northern Ireland, Chartered Accountants Ireland said, "The findings of this survey make it clear that Northern Ireland must address the critical issue of childcare costs and its impact on parents' careers as a matter of priority. “We would like to see the Government taking urgent action to support parents. This includes exploring the possibility of providing more affordable childcare options and considering initiatives that aligns Northern Ireland with the childcare provisions being offered in England." “These survey results serve as a stark reminder of the challenges faced by parents in Northern Ireland and the urgent need for accessible, affordable, and high-quality childcare services. Chartered Accountants Ireland is committed to advocating for changes that will ease this burden and help parents balance their work and family responsibilities.”

Paul Millar calls for more entrepreneurial outlook in Northern Ireland Chartered Accountants Ulster Society has called for a change to a more entrepreneurial mindset to benefit everyone living and working in Northern Ireland. Paul Millar, Chairman of the Ulster Society, said “Northern Ireland must tap into the inspiration and drive of entrepreneurs” and called for transformation to foster economic growth and improve living standards for all in the community. Mr Millar was speaking at the ‘Entrepreneurial Mindset Conference 2023’ organised by Chartered Accountants Ulster Society in partnership with Danske Bank, Artemis Human Capital, British Business Bank and Invest Northern Ireland, taking place at the National Football Stadium at Windsor Park this week. Mr Millar said: “Entrepreneurship has long been recognised as a key driver of economic growth, job creation, and social development in regions right around the world. With The Entrepreneurial Mindset Conference, along with other associated initiatives, we’re aiming to inspire a paradigm shift in Northern Ireland, where innovation, creativity, and a more entrepreneurial approach become the norm.” “Northern Ireland has a rich history of innovation and enterprise, but there is still untapped potential that can be harnessed to fuel economic growth and increase the standard of living here. The conference is addressing these opportunities, showcasing successful entrepreneurs, thought leaders, and experts who have paved the way for prosperity through entrepreneurial ventures. "We firmly believe that an entrepreneurial mindset throughout our private and public sectors, and within our political leadership, can act as a catalyst for positive change in Northern Ireland. It is our mission to inspire and empower individuals and communities to take  risks, embrace innovation, and create opportunities that lead to a brighter future for all." Speaking at the event in Belfast this week was world renowned performance psychologist and expert in high performance, Jamil Qureshi, who has worked with 22 golfers inside the top 50 in the world including two world number ones, three English Premiership football clubs, Formula One drivers and England cricketers. Also on the speaker lineup were some of our most successful local business leaders including Darragh McCarthy, founder and CEO of FinTrU; Brendan Mooney, former CEO and current Head of Investor Relations, Kainos; Ailbhe & Izzy Keane, co-founders of disability fashion brand Izzy Wheels; Greg Bradley, founder of BLK BOX; Naoimh McConville, Joint Managing Director of Rathbane Group; Rachel McCausland, CEO of Lowe Corporation; & Brian Reid, co-founder of  Planet Café and  DELI LITES. Examples of the types of support available locally for potential entrepreneurs at the event were discussed by Oonagh Murtagh of Danske Bank; Sarah Orange of Artemis Human Capital, Susan McKane of British Business Bank and Gren Armstrong of Invest Northern Ireland. 

District Societies arrange lunch or evening events for members to celebrate the season. Here is a roundup of the events for Christmas 2023, including how to book. London Society dinner University Women's Club, Mayfair Took place on Thursday 30 November 2023 Charity supported: The Irish Elderly Advice Network Thank you to all who attended Western Society lunch – bookings now closed The Dean, Galway Friday 1 December 2023 Charity supported: Hope Space Sponsor: Money Butler Ulster Society lunch – bookings now closed Europa Hotel Friday 8 December 2023 12:00pm Entertainment: Andrew Ryan Charities supported: Salvation Army; St Vincent de Paul; NOW Group Sponsor: Ulster Bank Sold out. Waiting list  Mid West Society dinner Savoy Hotel, Limerick Took place on Thursday 30 November 2023 Thank you to all who attended Cork Society Christmas lunch Maryborough Hotel Friday 8 December 2023 12:15pm Guest speaker: Jacqui Hurley Supporting Edel House Individual | Table of 10 North West Society Christmas lunch Glasshouse Hotel, Sligo Friday 8 December 2023 12:30pm Speaker: Deirdre McGettrick  Individual | Table of 10 Leinster Society Wexford Christmas dinner Kelly's Hotel, Rosslare Took place on Thursday 23 November 2023 Thank you to all who attended Kilkenny Christmas dinner Zuni Restaurant Took place on Thursday 30 November 2023 Thank you to all who attended Dublin Christmas lunch Clayton Hotel, Burlington Road Friday 8 December 2023 12:00pm Guest: Mario Rosenstock Supporting: Jack and Jill's Children's Foundation Sponsor: CPL Email to book  

  The Northern Ireland Investment Summit taking place this week is a timely reminder that a lower corporation tax rate for Northern Ireland could further enhance the attractiveness of the region as a place to invest and do business The Summit takes place just months after the UK main rate of corporation tax increased from 19% to 25% To crystallise a lower rate, capitalise on Northern Ireland’s unique trading position under the Windsor Framework, and tackle the many critical issues facing the region, the resurrection of the Northern Ireland Executive continues to be urgently needed Lack of a Northern Ireland Executive continues to hamper companies in the region from fully realising the potential of all the unique opportunities open to them, with many facing a tax bill double that of their counterparts in Ireland where the corporation tax rate is 12.5%, according to Chartered Accountants Ireland. The Institute, which represents over 5,000 members in Northern Ireland, more than two thirds of whom work in business, made these remarks as Northern Ireland this week hosts an Investment Summit exhibiting to business leaders and prospective investors the best that the region has to offer. Commenting, Janette Burns, Chair of the Northern Ireland Tax Committee of Chartered Accountants Ireland said: “In the year of the 25th anniversary of the Good Friday (Belfast) agreement, the Investment Summit taking place this week is an opportunity for over 100 leading investors and international businesses to see first-hand the talent, and expertise that Northern Ireland has to offer, not least in the innovation and technology sectors. “However, we can’t overlook the fact that the cash flow of many companies here is taking a significant hit with corporation tax bills up by almost 32%. Coupled with ongoing inflationary pressures, this ultimately means significantly lower after-tax profits, and less cash for investment to drive company growth and expansion, reward employees, and create high value employment. “The UK Government clearly recognises Northern Ireland’s unique position. Now is the time for our politicians to grasp this additional opportunity.  A rate of 12.5%, matching that in Ireland, would give Northern Ireland companies a real competitive edge in attracting foreign direct investment and energising indigenous businesses to thrive and prosper. “The economic benefits of a lower rate and the steps needed to implement it are well known and were highlighted again recently by the work of the Fiscal Commission. But we need our Executive back in situ to start the ball rolling on this and many other urgent issues in education, childcare, the economy, and health. Northern Ireland’s business leaders want our politicians to get on with this work in order to transform the region into a truly dynamic and attractive place to invest, do business, live, and work”.    Paul Millar, Chairman of Chartered Accountants Ulster Society added: “Last year we met with HM Treasury to discuss the economic benefits that a lower corporation tax rate would bring to the region where we also took the opportunity to highlight the potential for flexibilities to manage the impact of a reduction on Northern Ireland’s block grant. From the end of this month, improved access to the UK’s internal market will also be available under the Windsor Framework via the new green channel arrangements. “Although there have been rumblings from several of the main political parties in recent months about the potential for a lower rate, what we’ve seen so far is not action, but soundbites. This does not help pay the tax bills of Northern Ireland companies, many of whom are in dire need of additional cash flow to enable them to fully realise and capitalise on our unique trading access to both the UK’s internal market and the EU’s single market.” Paul Millar concluded: “Northern Ireland companies have dealt with crisis after crisis in the last few years, but many remain adaptive and resilient. They now need to be given the tools to flourish. As inflation begins to fall, now is the time for our politicians to act and get back into government. We encourage them to grasp this transformative change and take the steps needed to begin implementation of a lower corporation tax rate. “We urge our political parties to set aside party concerns and work together for the benefit of the whole region and its citizens.” Other information:- From 1 April 2023, the main rate of corporation tax in the UK increased from 19 percent to 25 percent, for companies with taxable profits of more than £250,000 Companies with profits between £50,000 and £250,000 now pay corporation tax at the 25% main rate, reduced by marginal relief; The rate remains at 19 percent if taxable profits are £50,000 or less; For companies with associates (broadly companies under common control), the £250,000 and £50,000 limits are reduced, meaning the higher corporation tax rates are payable on lower levels of taxable profits. During 2022, the Independent Fiscal Commission for Northern Ireland reported on the benefits of a lower rate of corporation tax for the region while also recognising the risks, complexities and constructive engagement required from the Northern Ireland Executive and HM Treasury to achieve this.

On 27 June, the Ulster Society hosted a webinar looking at the economic outlook for Northern Ireland in the year ahead. In this webinar we checked in with three of Northern Ireland's leading economists (Maureen O'Reilly, Conor Lambe and Gareth Hetherington) who gave some insight into the key issues affecting the local economy; and to examine what businesses and policy-makers can do to address the challenges ahead.  A recording of this webinar is available to view, for free and on demand, HERE  

On 13 June, the Ulster Society hosted the latest in a series of legal webinars with A&L Goodbody's Sam Corbett and Chris Coulter focussing Winding Up Petitions. The return of winding up petitions in Northern Ireland after being restrained for the last three years is expected to have an impact on local corporates, and those who advise them. This webinar covers: • Market Context. • Potential catalysts in the market. • Likely impacted industries. • Insolvency Stats – England -v- NI • Lessons from England – (English restrictions were lifted a year before NI). • How to deal with Winding up Petitions and the impact they can have – practical hints and tips A recording of this webinar is available to view, for free and on demand, HERE A pdf copy of the slides from this presentation is available HERE

On 8 June the Ulster Society hosted a webinar in partnership with British Business Bank addressing the issue of sustainability, and the responsibilities upon businesses and their advisers in meeting sustainability targets. This presentation by Julia Groves covered the basics of net zero and carbon accounting, the broader consideration of environmental, social and governance factors in business decision, why SMEs should take action, what they can do and how the British Business Bank is involved. A recording of this webinar is available to view HERE A pdf copy of Julia's slides is available HERE  

On 5 June, the Ulster Society hosted the second in a series of financial wellbeing webinars in partnership with Evelyn Partners, aimed at helping members to boost both their advisory capabilities and their own personal financial wellbeing. In this webinar viewers are invited to score and assess their own financial plan as Alison Dean, Chartered Financial Planner, and Aaron Carey, Chartered Wealth Manager, provide insight and expert tips on how to secure your financial wellbeing. A recording of this webinar is available to view, for free and on demand, HERE A copy of the slides from this presentation is available to view HERE

Paul Millar wants members to “be inspired by entrepreneurs” in the year ahead. Paul Millar has been elected Chairman of Chartered Accountants Ulster Society at its 116th Annual General Meeting. The Ulster Society represents 5,350 local Chartered Accountants and is a district society of Chartered Accountants Ireland, the largest and oldest professional accountancy body in Ireland. Mr Millar is Chief Executive of Whiterock Finance which provides finance to companies in Northern Ireland and he has considerable experience of providing both corporate financial advice and funding to Small and Medium Enterprises (SMEs). He previously spent seven years in Corporate & Business Banking in Bank of Ireland, and prior to that worked for ten years in senior roles in KPMG and Deloitte. Addressing the Society’s AGM, held at the Merchant Hotel, Belfast, Mr Millar said that the key priority would be to embrace entrepreneurs and unleash Northern Ireland’s potential: “I believe that there is so much to be positive about in Northern Ireland. I can see first-hand the amount of creativity, innovation, drive and resilience in our business community. We are on the brink of something special. “I want our Chartered Accountants to be inspired by entrepreneurs and work together to help to build the businesses which secure the future of everyone within our community. “We need to support innovative businesses which help to boost everything else within our society, from health, to education, to housing to wellbeing. We must do more to encourage those who have a positive vision for Northern Ireland and have the drive to realise that vision. Mr Millar also highlighted the need for leadership in what continue to be straitened times: “Of course, there are challenges for Northern Ireland. The cost-of-living crisis, and the cost of doing business continue to be difficult for everyone. Just about every sector is facing a skills shortage and when we need leadership the most, we continue to face a democratic deficit at Stormont. “We should be prepared to move mountains to support entrepreneurs and to bring though the skills that we need to succeed. It is vital that we encourage talent, build opportunities and make sure that Northern Ireland is a great place to live and work. We believe that Northern Ireland has great people and fantastic potential if given the right conditions to flourish.” “Throughout my career as a Chartered Accountant, I’ve been lucky to meet some truly inspirational business leaders. I’d like to promote that entrepreneurial spirit and encourage all of those decision makers in the private sector, in the public sector, and in politics to do the same.” Mr Millar said that he would be working to build on the success that the Ulster Society has enjoyed during the leadership of his predecessor, Emma Murray: “During the last year, Emma has done a fantastic job in speaking up both for our members and for the local business community. I will be working hard to continue that. I know that with the calibre of the people in our committee structures and our wider Institute network that we are well set to be an effective voice for members in Northern Ireland.”  

All members are invited to attend the 2023 Ulster Society Annual General Meeting, taking place on Monday, 5 June 2023, at 4.30pm in The Merchant Hotel, Belfast. Members can register to attend here   Apologies can be emailed to Karen Hewitt [email] Relevant Documents: Annual Report 2022 AGM minutes 2022 AGM Agenda 2023 Election Report 2023 Rules of Chartered Accountants Ulster Society

On 16 May, the Ulster Society hosted a legal series webinar with A&L Goodbody's Sam Corbett and Chris Coulter focussing on funding cuts and insolvency in the third sector. This session focused on  planning and safeguarding for third sector organisations and included pointers for professional advisers and an update on trustee/director responsibilities and obligations particularly when charities are facing cuts.  A recording of this webinar is available to view, for free and on demand, HERE A pdf copy of Sam and Chris' presentation is available to view HERE  

Over 120 of Northern Ireland’s leading Chartered Accountants are in Lisbon this week for a Conference examining trade links, innovation, business disruption and economic growth. The ‘New Frontiers’ Conference in the Portuguese capital, organised by Chartered Accountants Ulster Society and supported by Danske Bank, is taking place from 26th to 30th April. The Conference will consider the prospect of business development between Northern Ireland and the EU and features speakers from companies with experience of setting up operations in Portugal, including Belfast and Derry/ Londonderry based regulatory solutions company FinTrU, which has an office in Porto. Speakers at the New Frontiers Conference include Greg Sherwin, Senior Principal of global fashion platform Farfetch; Steven Murtland of FinTrU; Rui Duarte of PwC Portugal; Sharon Farrell of the Ireland Portugal Business Network; Ana Mendes of Turismo de Lisboa; and Geoff Sharpe of Danske Bank. The Conference will explore the new frontiers for business, the drive for innovation and disruption across all sectors and the elements of leadership required to help businesses to thrive. Emma Murray, Chairperson of Chartered Accountants Ulster Society, said: “We’re delighted to be bringing a sell-out audience of business leaders to Lisbon for what will be a fascinating Conference and an important networking opportunity for our members.  “We’ll hear about the business links between our countries and how Northern Ireland businesses are reaching out to do business here in Portugal. Lisbon is as proud of its role in the Age of Discovery, with the city being the starting place for dozens of explorers’ voyages around the world.They were people who weren’t afraid to reach out, try something new, look for something bigger and better. “We want to foster some of that imagination and drive, and to encourage our own businesses at home to explore new frontiers and new opportunities. We also have the prospect to hear first-hand about the current climate for business and investment in the European Union. “We are delighted to continue our partnership with Danske Bank and very thankful for their input in shaping this event. Our partnership with Danske Bank stretches back to 2001, covering conferences in cities such as New York, Washington DC, Chicago, Munich, Toronto, Copenhagen, Barcelona, Boston, Amsterdam and Madrid. It’s a partnership which is integral to the success of our Conferences.” Shaun McAnee, Managing Director of Corporate and Business Banking, Danske Bank, said:  “Danske Bank has had a long association with Chartered Accountants Ulster Society and it’s an important relationship as we work together to support local businesses with their growth ambitions. “The New Frontiers conference will provide a valuable opportunity for networking and gaining insights and inspiration that will benefit our customers, in particular those who are already trading with the EU or keen to explore new trade links.”  

On 20 April the Ulster Society hosted a webinar titled 'Whistleblowing - An Overview & top Tips' with Aisling Byrne from our legal partner, A&L Goodbody. In this webinar Aisling covered: •    A background and overview of the legislative framework •    Definition of a protected disclosure •    Prescribed Persons •    Protection for employees •    Recent whistleblowing cases •    Case studies •    Tips for Employers A recording of this webinar is available to view, for free and on demand HERE A pdf copy of Aisling's slides is available HERE  

  •            From 1 April, many NI companies will see their corporation tax bill increase by almost 32%. •            Potential for lower rate of corporation tax in Northern Ireland should not be forgotten. •            Executive must be urgently established to crystallise this opportunity and to harness the benefits of the Windsor Framework for the region and its citizens. The lack of a Northern Ireland Executive is compounding the pressures of increased tax bills and continued high inflation on businesses, according to Chartered Accountants Ireland. The Institute represents over 5,200 members working in businesses and practices across Northern Ireland, more than two thirds of whom work in business. The body made these remarks as the new higher corporation tax rates became operational.  Commenting, Dr Brian Keegan, Director of Public Affairs, Chartered Accountants Ireland said: “From this month, many companies in Northern Ireland are facing a tax bill of 25%, double that of their counterparts in Ireland. Ultimately this means even lower after-tax profits and less cash to invest, drive company growth, and reward employees. “Despite this, Northern Ireland companies have a number of unique opportunities to mitigate against this increase which should not be ignored. The potential for a lower corporation tax rate to match the rate in Ireland is just one opportunity. “A lower rate of corporation tax would put Northern Ireland in a strong position to attract FDI, particularly in the manufacturing and distribution sectors, and would drive investment and expansion by local companies, leading to the creation of more high-value jobs and improved wage offerings.” Last May, the Fiscal Commission’s final report set out the economic benefits to be achieved from a lower rate whilst also recognising the risks and complexities which would need to be managed. Brian Keegan added: “We agree with the Commission’s analysis of these economic benefits which also flagged the constructive engagement required from both the NI Executive and HM Treasury to activate a NI corporation tax rate. “Without an Executive in place, this work simply cannot begin leaving Northern Ireland companies at the mercy of a further squeeze on their cash resources.” Zara Duffy, Head of Northern Ireland at Chartered Accountants Ireland said: “Northern Ireland companies and businesses are already capitalising on their unique access to the EU’s single market for goods under the Protocol. From September this year, improved access to the UK’s internal market will also be available under the Windsor Framework via the new green channel arrangements. “A recent survey of our members identified the Windsor Framework as a significant opportunity for Northern Ireland. Companies need an Executive in place in order to seize this opportunity and ensure that the revised trading arrangements are implemented in a way that supports businesses.” Zara Duffy concluded: "The higher corporation tax bill which many companies are facing is just one of a myriad of issues in the region in dire need of attention. Major challenges in health, education and the economy cannot be addressed unless our Executive gets back to work. The milestone 25th anniversary of the Good Friday / Belfast Agreement should be grasped. Northern Ireland needs its political leaders to  work together for the benefit of the whole region.” Other information:- •            From 1 April 2023, the main rate of corporation tax in the UK increased from 19 percent to 25 percent, for companies with taxable profits of more than £250,000 •            Companies with profits between £50,000 and £250,000 now pay corporation tax at the increased main rate, reduced by a marginal relief, which provides a gradual increase in the effective corporation tax rate; •            The rate remains at 19 percent if taxable profits are £50,000 or less; •            For companies with associates, broadly companies under common control, the £250,000 and £50,000 limits are reduced meaning the higher corporation tax rates are payable on lower levels of taxable profits.

The Chairperson of Chartered Accountants Ulster Society has called for local politicians to restore the Northern Ireland Executive and begin the task of rebuilding the regional economy. Speaking to 400 guests at the Ulster Society’s Annual Dinner, sponsored by Danske Bank and MCS Group tonight (30 March), Emma Murray called for devolution to be restored so that major challenges in health, education and the economy could be addressed. The Society believes real leadership, and a shared vision was required for Northern Ireland to realise its potential. Emma Murray said: “This is the sixth collapse of the Northern Ireland Assembly. Since 1998 we have had almost ten years without a governing Executive. “Three quarters of our members believe that the Northern Ireland economy is either contracting or stagnant. Our members are also seeing an increase in the number of businesses facing financial distress. “The business community wants to help our politicians in the task of rebuilding and resetting our regional economy on an upward trajectory. “We want to see a plan that can transform the economy, fix our health service and fund our schools, colleges and universities. We need the skills to build the economy of the 21st century that we all want to see. “All of us have to make Northern Ireland work. We want to be able to offer our children, and the next generation, political stability, investment, well-paid employment and a society free from violence.” The speech highlighted the recent survey of local chartered accountants which identified the Northern Ireland Protocol, now the Windsor Framework, as a significant opportunity for Northern Ireland. “Our members believe that the Northern Ireland Protocol, now replaced by the Windsor Framework, is a key opportunity for Northern Ireland in the years ahead, potentially providing a unique trading position for businesses here. “There is a balance to be struck. Now is the time to put division behind us and to finally realise our potential.” Providing entertainment for guests at the Ulster Society Annual Dinner were actress, comedian and writer Ruby Wax OBE, The New Brass Kings and the Belfast School of Performing Arts. The Chartered Accountants Ulster Society’s Annual Dinner took place at Titanic Belfast and was attended by 400 members and their business guests.

On 23 March, the Ulster Society hosted the final event in the current 'Inspiring Excellence' series in partnership with Danske Bank. This webinar featured Sinead Donovan and Feargal McCormack, both of whom are recognised as senior leaders within the Chartered Accountancy profession.  In this webinar, Sinead and Feargal will discuss their leadership journeys, their leadership philosophy and the key issues they see facing the accountancy profession and the wider business community.  A recoding of this webinar is available to view, for free and on demand HERE