The OECD has announced that 26 countries and jurisdictions, including Ireland and the United Kingdom, intend to implement the new international framework for the automatic exchange of information regarding offshore property. Tax administrations will have access to offshore real estate information, including ownership details, property value, transaction history and rental income.

The OECD has published two reports prepared by the Global Forum on Transparency and Exchange of Information for Tax Purposes. The reports contain the 2025 peer reviews of the implementation of the international standards of Exchange of Information on Request (EOIR) and the Automatic Exchange of Information (AEOI).

The EU Parliament’s Subcommittee on Tax Matters will host a public hearing on Thursday 11 December on the taxation of ultra-high-net-worth individuals. The hearing will review the use of loopholes and tax planning strategies to minimise tax liabilities, assess transparency measures and consider possibilities for tax authorities to enhance compliance enforcement and cross-border cooperation.

In UK developments we take a closer look at last week’s Autumn Budget examining both the personal and business taxes tax announcements. In Irish news this week, MyFutureFund, the country’s new pensions auto-enrolment system, opens for employers to register, and we bring you an update from the recent TALC Collections sub-committee meeting. In International news, the OECD has published its report on corporate tax statistics for 2025. UK 1. Read the main announcements impacting individual taxpayers in last week’s Autumn Budget which included frozen thresholds, increased rates of income tax for property, savings, and dividend income, and earlier self-assessment payment obligations. 2. On the business and employer tax side, Budget Day announcements included a soft landing for Making Tax Digital for income tax, unchanged corporation tax rates, e-invoicing from 2029, more timely payments of VAT and PAYE, and frozen employer NICs thresholds. Ireland 3. The registration portal for Ireland’s new pensions auto-enrolment system, MyFutureFund launched this week. 4. Read an update from the TALC collections sub-committee meeting held in November International 5. The OECD has recently released its 2025 Corporate Tax Statistics report. Keep up to date with all the latest Irish, UK, and international tax developments through Chartered Accountants Ireland’s Tax Newsletter. Subscribe to the Tax News by updating your preferences in MyAccount.  

Revenue has updated two other guidance notes this week dealing with debt issue costs, and Hepatitis C compensation payments.  The details are as follows: The guidance on the tax treatment of Debt Issuance Costs (including interest cap fees) has been updated to include details previously contained in the guidance titled the tax treatment of interest cap fees. The updated guidance on the taxation of compensation payments made to individuals diagnosed with Hepatitis C and HIV includes new sections detailing the relevant legislation and definitions applicable to the available exemption.

Revenue has updated its guidance on the anti-hybrid rules to outline changes to the application of the associated enterprises test to partnerships. It confirms that, with respect to the voting rights of shares held through the partnership, partners in a partnership are always deemed to be ‘acting together’. The Institute has been engaging with Revenue through the Tax Administration Liaison Forum to get clarity on this complex issue.

Last week, Finance Bill 2025 completed its fourth stage through the Oireachtas and the Report Stage Amendments to Finance Bill 2025 were published. The Bill now proceeds to the Second Stage in the Seanad. The Report Stage provides the opportunity to address and discuss the amendments arising from the Committee Stage and to provide additional details on proposed changes in the Finance Bill. Clarification on the VAT rate on the sale of certain apartment, as well as further additional items, can be found in the Report Stage amendments.

In our newsletter last week, we outlined that Revenue is inviting VAT-registered businesses managed by its Large Corporates Division to complete a VAT Modernisation and eInvoicing survey to inform Ireland’s implementation of the EU’s VAT in the Digital Age (ViDA) package. Revenue has shared a copy of the ROS Notice that issued to LCD taxpayers last week and we encourage businesses to take part in this survey, as their feedback is essential in shaping the ViDA implementation plans. The survey was sent via ROS directly to all VAT registered businesses with an active ROS Digital Certificate managed by Large Corporates Division.

Revenue has updated two guidance documents on share schemes, dealing with restricted shares and unapproved share options providing several clarifications on each of the schemes. The updated manuals also contain useful changes to the layout of certain information as well as helpful guidance on completing the Form RSS1. Paragraph 8.2 of the guidance on restricted shares has been revised to clarify that the conditions attached to restricted shares apply both at the time of acquisition and throughout the entire specified period. The updated guidance confirms that Revenue approval is required for restricted shares held in any arrangement other than a trust. The guidance also confirms that a disposal or transfer before the end of the specified period and in circumstances not covered by section 128D(3) TCA 1997, may result in the shares no longer being restricted for the purposes of section 128D TCA 1997. Certain presentation changes were also made to the guide. The guidance on unapproved share options has been updated to confirm that the employer is responsible for remitting the tax due at the date of grant of a long option, and to outline the process for providing a payroll credit upon exercise of the long option for any income tax paid at the date of grant. The guidance also clarifies the amount of the gain to be included on the Form RSS1 where an individual is taxable in Ireland on a portion of the share option gain under a double tax agreement. References to indexation on disposal of shares acquired pre-2003 has been removed from the guidance.

The registration portal for Ireland’s new pensions auto-enrolment system, MyFutureFund, launches today and the new auto-enrolment scheme itself launches from 1 January 2026. In a recent survey conducted by the Institute in partnership with GRID Finance, almost two-thirds of businesses indicated they are prepared for the 1 January start date. Given that there is likely to be a substantial amount of traffic on the new portal over the coming days, we recommend a certain degree of patience. This is unfortunately a common occurrence for any new platform dealing with high volumes of internet traffic. With that said, please do send any persistent issues to tax@chartertedaccountants.ie where we can consider the issue in any subsequent engagement with the Department of Social Protection.

The Institute, under the auspices of the CCAB-I, made representations on behalf of members at last week’s meeting of the TALC Collections Sub-Committee. At the meeting, Revenue provided an update on local property tax (LPT) and 2024 self- assessment income tax compliance. In addition, Revenue provided an update on the release of the Form 11 and Form 1 for 2025. Revenue asked that we remind practitioners to maintain vigilance and review their security procedures following recent incidents of identity theft. LPT compliance Revenue noted that while returns have been filed in respect of 1.4 million properties (70 percent) for 2026, a further 300,000 taxpayers have paid or made arrangements to pay 2026 LPT without filing a return. 2024 Form 11 Revenue noted that there were approximately 620,000 income tax returns filed by midnight 19 November 2025, up 2.3 percent on 2024. Online payments of income tax amounted to 3.45 billion, up 8 percent on 2024. Revenue advised it will make contact with the small cohort of taxpayers, and their agents, that were impacted by a technical issue relating to UK DIRT. 2025 Form 11 and Form 1 The 2025 Form 11 and Form 1 will be released at the beginning of January 2026. However, as selected functionality has been rescheduled until a further release of the forms in  late‑march ,it is recommended not to file a 2025 return where any of the following apply: Form11 Sports Bodies Donations (Personal Tax Credits Panel). Section 1008A tick box and additional field for the name of the medical partnership. Exempt Income, section 216F to be itemised as an exemption. Form1 PWST pre-population and updates (Trading Income Panel). New fields for NLWT tax paid to date and Preliminary Tax due (Statement of Net Liabilities). Additional tick box required to indicate if exempt rental income from leasing of farmland was purchased on or after 1 January 2024 (Irish Rental Income Panel). Identity theft In light of a number of practitioners being targeted for identity theft earlier this year, Revenue reminded practitioners to review their security procedures and maintain vigilance. Revenue outlined that it values the role agents play in the safeguarding of the system, however, where exchequer losses are attributed to the failure of an agent’s security controls, Revenue may pursue appropriate recovery and remedial actions.

In recognition that the existing limits in some of these schemes restrict their availability to companies in their critical scale-up phase, the Government announced a package of tax changes to support scaling companies to attract investment and talent. There is also an objective to take further steps to ensure tax support is ‘founder friendly’. A call for evidence has therefore been published seeking input from across the scale-up and investor community on the impact of existing schemes and options to provide further support to ensure the UK entrepreneurial ecosystem thrives. The VCT and EIS company investment limits will increase to £10 million (£20 million for Knowledge Intensive Companies (KICs)) and the lifetime company investment limit will increase to £24 million (£40 million for KICs). From April 2026, the gross assets test will increase to £30 million before share issue, and £35 million after. However, the rate of VCT income tax relief will decrease from 30 percent to 20 percent. No changes were announced to the Seed Enterprise Investment Scheme.