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As Chartered Accountants Ireland surpasses 40,000 members, it has today published a new position paper on the future of AI and accountancy. The largest professional body on the island of Ireland is calling on Government to invest in AI-ready infrastructure, strengthen supports for SME adoption and embed AI skills and literacy across the education system. The position paper was launched today alongside Deputy Malcolm Byrne T.D., Chair of the Oireachtas Committee on Artificial Intelligence.  Accountants as trusted advisors  The paper argues that in an AI-driven economy, accountants will play an increasingly important role as trusted business leaders providing governance, ethical oversight and assurance. While the paper acknowledges that AI will bring change to how the profession operates, it reinforces - rather than diminishes - the role accountants play in supporting robust, accountable decision-making.   The Institute also challenges the narrative that accountants are at risk of being replaced by AI, highlighting instead how the profession is evolving alongside the technology. It emphasises that accountants must take a leading role in implementing AI within finance functions, ensuring systems are deployed responsibly, controls are robust, and outputs can be trusted. Rosemary Keogh, CEO, Chartered Accountants Ireland said  “There is a common belief that AI will replace accountants, but the evidence simply doesn’t support that. It reflects a misunderstanding of what modern accountants actually do. AI is automating routine, rules-based work and most accountants welcome that. It frees them up to focus on higher-value roles like strategy, risk and decision making.   “The AI economy will run on trust. While AI can process extraordinary volumes of data, automate complex tasks, and generate insights at unprecedented speed, trust in those outputs depends on human oversight, ethical judgement and professional accountability. As AI systems become more widely used, the need for trusted financial information will only grow – and this is where accountants add real value.” Accountants are already using AI across audit, reporting and advisory services, with recent research by Chartered Accountants Worldwide pointing to strong enthusiasm across the profession. 85% of respondents indicated a willingness to use AI tools in their work, with the younger generation overwhelmingly open to using these tools at 91%. The new position paper aims to provide leadership and clarity on how accountants can use the technology responsibly and effectively. Government policy needed to support AI adoption  Chartered Accountants Ireland is calling for Government to support responsible AI adoption in several ways, noting that AI matters not just for accountants, but for Ireland. The paper sets out several recommendations, including: SMEs need to be supported on their AI journey. Supports from Enterprise Ireland, Local Enterprise Offices, and others need to be more accessible, and SMEs and their workforces given the opportunity to become AI literate cost-effectively.  Investment in AI-ready infrastructure – For AI to work effectively, Ireland requires an underlying infrastructure that is strong, sustainable, and resilient. From data centres to electricity generation and investments in the national grid, the right foundations are needed to optimise the use of AI. Leading on EU simplification and AI regulation – During its upcoming EU Presidency, Ireland has a unique opportunity to lead on the EU’s digital simplification package. Ireland should focus on ensuring regulations are proportionate for businesses and promoting the development of guidance and tools that enable businesses to apply AI productively and responsibly. Embedding AI literacy in education – courses in secondary schools and in further and higher education need to be adapted so that all young people are AI literate and aware of the technology’s benefits, opportunities, and dangers. ACA syllabus world-leading in technological advancements  Over the past decade, significant steps have been taken to integrate AI and emerging technologies into the profession, including a major overhaul of both the content and delivery of the ACA training programmes. Ireland’s progress in this area is now being used as a model internationally for bodies educating accountants in other parts of the world. Since 2018, the Chartered Accountants Ireland syllabus has evolved to include robotic process automation, data analytics, cybersecurity, blockchain and accounting for digital assets.   Rosemary Keogh continued  “Reaching 40,000 members marks a milestone for Chartered Accountants Ireland, reflecting sustained growth and the enduring relevance and trust placed in the profession across Ireland. Chartered accountants continue to be widely sought after in this country as highlighted by the profession’s ongoing inclusion on the government’s Critical Skills Occupation List.  “For many Irish SMEs, their accountant is their main, and often only, advisor. That puts the profession at the frontline of responsible AI adoption: helping businesses assess and manage risk, comply with the law, and make informed investment decisions.” 

On Tuesday, 2 June 2026, the European Parliament Subcommittee on Tax Matters will host a public hearing to evaluate the impact and future of the Reverse Charge Mechanism in combatting VAT fraud. The subcommittee will also discuss the draft report on the EU’s approach to corporate tax policy in a changing international environment.

Revenue has recently published minutes from the meetings on 17 February and 20 March this year of the TALC BEPS - Pillar Two Administration Subgroup. The meetings provide several points of clarification regarding Pillar Two registrations, along with information on the testing, completion and filing of relevant tax returns.

In this week’s cross-border trading corner, we bring you the latest guidance updates and publications. The most recent Trader Support Service bulletin is also available as is the latest Brexit and Beyond newsletter from the Northern Ireland Assembly EU Affairs team. Earlier this month the European Commission and the UK Government’s Specialised Committee on the Implementation of the Windsor Framework met in Brussels after which a Joint Statement was issued and HMRC has advised that phase six of the New Computerised Transit System (NCTS6) is scheduled for deployment on Monday 1 June 2026. NCTS 6 deployment updateTo support the deployment of NCTS phase six, Great Britain and Northern Ireland services will be unavailable between 7am and 9am on 1 June. HMRC’s guidance sets out the procedures to be followed during NCTS downtime. Miscellaneous guidance updates and publicationsThis week’s miscellaneous guidance updates and publications are as follows:Appendix 1: DE 1/10: Requested and Previous Procedure Codes of the Customs Declaration Service (CDS),Customs declarants and declaration volumes for international trade in goods,Data tables for customs declarants and declaration volumes for international trade in 2025,Customs declarants and declaration volumes for international trade in 2025,CDS Declaration Completion Instructions for Imports,Data Element 2/3: Documents and Other Reference Codes (National) of the Customs Declaration Service (CDS),UK import trade in goods by country of origin and country of dispatch, 2024, andExternal temporary storage facilities codes for Data Element 5/23 of the Customs Declaration Service. 

Residential Premises Rental Income Relief (RPRIR), provided for under section 480C(4) TCA 1997, includes a clawback provision whereby relief will be clawed back if, within four years of the first year in which relief is claimed, the landlord ceases to be a landlord of the qualifying premises on which RPRIR was claimed. Revenue has confirmed that where a clawback arises in respect of a 2024 RPRIR claim, the taxpayer or their agent should contact Revenue through MyEnquiries and the caseworker will amend the 2024 tax assessment as appropriate. Revenue will update the guidance manual on RPRIR in due course.

In a detailed update this week which you can read more about below, HMRC has asked us to share a message about Self-Assessment (SA) notices to file, linked to savings income, which have been issued to taxpayers who have also received multiple/conflicting HMRC letters. The message sets out what actions to take if you are affected.  In addition to the above, readers should also note the following:The Government’s legislative agenda for the 2026/27 parliamentary session was set out in the King’s Speech as part of the State Opening of Parliament which took place last week. The speech did not contain any announcements on fiscal policy, which is to be expected given the Government’s commitment to only one major fiscal event every year in the Autumn,HMRC has published a briefing explaining why ‘Bills of Exchange’ schemes that are being promoted as alternative ways of paying HMRC liabilities do not work as a valid form of payment. The schemes are particularly marketed to the recruitment and temporary labour sectors,HMRC has published Guidelines for Compliance (GfC) 17: Help with sharing group structure information,The Office of Budget Responsibility has published supplementary forecast information relating to the Autumn Budget 2025 announcement that national insurance savings on salary-sacrificed pension contributions are being capped from April 2029,The latest schedule of HMRC Talking Points live and recorded webinars for tax agents are available for booking. Spaces are limited, so take a look now and save your place, and finally,Check HMRC’s online services availability page for details of planned downtime and the online services affected.Update on SA notices to file linked to savings income HMRC has been made aware of concerns raised by several of the Professional Bodies about taxpayers receiving SA notices to file that are linked to savings income as many of these taxpayers have also received multiple/conflicting HMRC letters. HMRC recognises the confusion that this has caused and apologises.What has happened Recent changes in how HMRC receives and uses bank and building society interest information enabled HMRC to identify around 120,000 taxpayers whose savings income for 2024/25 exceeded £10,000. Such taxpayers are required to file a SA return. This is the first time HMRC has undertaken bulk activity at this scale to bring this taxpayer group into SA. Subsequently, HMRC issued statutory SA notices to file for 2024/25 to these taxpayers in mid-March 2026. The notice to file gives taxpayers three months from the date of the notice to submit a return and pay any tax due. However, HMRC also recognises and apologise for the fact that the letters prominently reference the 31 January 2026 online filing deadline for 2024/25 returns, which has been confusing and has understandably caused anxiety as that date had already passed when the letters were issued. Unfortunately, the issue was compounded for around 14,000 taxpayers due to an IT issue. These taxpayers received: a Notice to File, and a Simple Assessment (PA302), and in some cases other notifications (such as P800s).In some cases, taxpayers have already: paid their Simple Assessment in full or in part, or received conflicting messages about whether they need to file a return. What action HMRC has taken For those taxpayers affected by the IT issue, HMRC has: identified and resolved the issue that caused dual notices, put in place work to withdraw the inappropriate notice, andupdated internal guidance so that advisers can support taxpayers contacting HMRC. For the wider population, HMRC has: reviewed the notice content and the concerns raised by taxpayers and representative bodies,ensured advisers are briefed to explain taxpayer obligations and the three‑month deadline, and segmented taxpayers based on any actions they have already taken (paid, part‑paid, returned, or no action). What taxpayers need to do For those affected by the IT issue:If a taxpayer has already paid their Simple Assessment, HMRC will withdraw the SA notice to file. These taxpayers will not be required to submit an SA return. Any late filing penalties applied will also be cancelled, andAny taxpayer who has not paid their Simple Assessment is required to file a SA return. The Simple Assessment will be withdrawn.  HMRC will be writing directly to affected taxpayers with clear instructions on what they need to do next. If no further action is required, this will be made explicit. For those not affected by the IT issue who have received a Notice to File (around 106,000), these taxpayers are required to file a SA return because their savings income exceeded £10,000. The statutory deadline to file is three months from the date of the notice, even though the letter also references 31 January. These taxpayers should file and pay any tax due in line with that deadline to meet their obligations

Finance Bill 2026 was published last week legislating for fuel support measures announced by the Government in April. The Bill confirms reductions in Mineral Oil Tax rates which will remain in place until 31 July 2026 and an increase in the maximum rate of repayment under the Diesel Rebate Scheme in the period between 1 January and 30 June 2026. Further details of the changes are included in our earlier newsletter item.

Revenue has published new guidance on the VAT and Customs treatment of second-hand or used motor vehicles coming into Ireland from Great Britain and Northern Ireland. Appendix one to the guidance provides a comprehensive summary of the various import scenarios and the related VAT and Custom Duty treatment.The guidance outlines the VAT Margin Scheme in Ireland and the UK Second‑Hand Motor Vehicle Payment Scheme, including scenarios involving direct imports from Great Britain and indirect imports via Northern Ireland. It also clarifies the VAT treatment of purchasing a second‑hand vehicle from Northern Ireland, in cases where the vehicle had previously been used in Northern Ireland and also where it had not been used there.Details of customs import rules and reliefs are also included in the guidance.

Tomorrow, Tuesday 19 May 2026, HMRC, together with key partners, is holding a key webinar looking at the next phase of the Trader Support Service (TSS). The TSS was due to end on several occasions over the last few years but is becoming a permanent service as recommended by Chartered Accountants Ireland. You can register for the webinar here.The webinar will look at the next phase of TSS, in addition to outlining how to get involved in the private beta user test phase, and it will signpost key milestones and the timeline for moving to the new service. It will also direct traders to further guidance and support to help them prepare. The deadline for registering for this webinar is 5pm today, Monday 18 May 2026. The webinar’s agenda comprises a short programme of updates and presentations as follows:an update from HMRC on the next phase of the TSS,an introduction from Netcompany who are the new providers,a TSS user overview from the Chartered Institute of Export and International Trade, anda facilitated audience Q&A session.This webinar is for anyone involved in the movement of goods between Great Britain and Northern Ireland, including current TSS users. Question can be sent in advance of the webinar by email to tss-support@netcompany.com.

To mark the official commencement date of Mandatory Tax Adviser Registration (MTAR) which starts from today, 18 May 2026, we have now launched our MTAR hub which contains a suite of resources to help members identify if they are in scope, when they need to register, and what actions they need to take. Further resources on the various sanctions available to HMRC on this legislation will be added to the hub in the coming months. In the meantime, we strongly recommend that any of our members based in the UK who regularly interact with HMRC on behalf of their clients check their obligations under MTAR and determine their registration timeline. The link to register has now been published by HMRC. Overseas advisers who are in scope will also need to register with HMRC at a date still to be determined if they already have an Agent Services Account or online corporation tax or self-assessment account with HMRC. Those that do not currently have a HMRC online account are required to register in the appropriate tranche, which for some commenced on 18 May 2026.Last week HMRC published additional guidance and resources on MTAR as follows:Mandatory tax adviser registration — communications resources, andCheck if and when you need to register as a tax adviser with HMRC.HMRC has also published updated guidance for agents on how to protect your sign in details and reduce the risk of fraud when using HMRC online services. This has been published ahead of multi-factor authentication being switched on for agents in the coming months, the timetable for which is expected imminently from HMRC.

On 13 May, the Ulster Society hosted  webinar titled 'Safeguarding Innovation: A Practical Guide to Intellectual Property Rights and Risk Management for UK Businesses' in partnership with A&L Goodbody.This webinar aims to equip accountants with practical insight into identifying IP risks and opportunities within their clients’ businesses, recognising when specialist advice may be needed and, from the employment perspective, understand the importance of clear drafting at the outset, setting defined parameters and effective enforcement.A recording of this webinar is available to view, for free and on demandA pdf copy of the slides used in this presentation are available HERE:  Safeguarding InnovationAbout Eileen McKendry-GrayEileen is a Consultant in A&L Goodbody’s Belfast office, advising clients on legal strategy, governance, and complex commercial matters. Eileen’s practice focuses on commercial contracts and business services, with particular expertise in intellectual property, technology, software, media, and creative industries. About Gareth WallsGareth is a Partner of A&L Goodbody's Employment group in Belfast. Gareth represents a number of local, national and international brands in business support, strategic workforce planning and high profile tribunal matters. He also has significant experience advising stakeholders on complex redundancy, re-structuring and TUPE issues.   

Welcome to the latest edition of Technical Roundup. In developments since the last edition, Chartered Accountants Ireland recently responded to AMLA’s public consultation on the draft Regulatory Technical Standards on Customer Due Diligence. The Central Bank of Ireland recently published new research regarding ‘Beyond the Big Three: A Broader View of Competition in the Irish Loan Market’ drawing on granular loan-level data from the Central Credit Register.  Read more on these and other developments that may be of interest to members below. Financial Reporting The European Securities and Markets Authority (ESMA) has published its report on 2025 Corporate Reporting Enforcement and Regulatory Activities. This report, which is addressed to issuers, auditors and investors, discusses how national enforcers across the EEA supervised Corporate Reporting during 2025 and is intended to help strengthen the quality and transparency of corporate reporting going forward.The IFRS Foundation has published a revised version of its Due Process Handbook. This handbook sets out the procedures and processes applied by the organisation in developing and maintaining accounting and sustainability standards.The UK Endorsement Board has adopted IFRS 19 Subsidiaries without Public Accountability on 8th May 2026. The standard permits eligible entities to apply the recognition, measurement and disclosure requirements of IFRS Accounting Standards, but with reduced disclosure requirements. The standard is effective for periods beginning on or after 1 January 2027, with early application permitted.The UK Endorsement Board is inviting stakeholders to take part in their series of four one-hour online workshops which will discuss accounting for intangible assets.The International Accounting Standards Board (IASB) has published an Exposure Draft proposing narrow-scope amendments to the IFRS for SMEs Accounting Standard. Auditing and Assurance The International Auditing and Assurance Standards Board (IAASB) has released for public consultation an Exposure Draft that proposes revisions to International Standard on Review Engagements (ISRE) 2410, Review of Interim Financial Information by the Independent Auditor of the Entity’s Annual Financial Statements. InsolvencyA new Directive aimed to harmonise certain aspects of insolvency rules within the EU has been published in the Official Journal of the European Union and is now in force. These new rules aim to make the EU more attractive to cross-border investors by reducing the difficulty of differing national insolvency rules. Each Member States has until 22 January 2029 to transpose the Directive into national law.Sustainability The European Commission have issued a call for views on the draft regulation for the Revised ESRS. The adoption of the revised European sustainability reporting standards represents a significant step towards simplifying sustainability reporting across the EU. Companies that remain within scope will benefit from clearer and more streamlined requirements, helping to reduce compliance burdens and costs while maintaining key policy objectives. The consultation period is 4 weeks and responses are due by 3 June. Commission adoption is planned by the end of Q2 2026. The European Commission have also issued a call for views on draft delegated regulation for the VSME. Companies in the value chain of a company subject to mandatory sustainability requirements often face requests for information from their reporting business partner. These value-companies include those with fewer than 1,000 employees on average during the financial year. This initiative aims to help value-chain companies and companies not subject to mandatory sustainability reporting requirements disclose sustainability-related information, thereby reducing their reporting burden. The consultation period is 4 weeks and responses are due by 3 June. Commission adoption is planned by the end of Q2 2026. The European Financial Reporting Advisory Group (EFRAG) is holding a SME Forum Informative Session on 20th May. At this session, representatives from the European Commission will present the draft VSME standard.The International Sustainability Standards Board (ISSB) has published the transcript of a speech that its Chair, Emmanuel Faber, held at the International Sustainability Conference in Beijing on 23 April 2026.Anti-money launderingChartered Accountants Ireland recently published a news item summarising some of the proposed changes to UK Money Laundering Regulations 2017. Chartered Accountants Ireland recently responded to AMLA’s public consultation on the draft Regulatory Technical Standards on Customer Due Diligence. Our response supports AMLA’s risk-based approach for CDD albeit highlighting that certain requirements are quite prescriptive and lack flexibility. Concerns regarding data collection obligations which may be challenging for obliged entities, particularly those in the non-financial sector were also highlighted. The Financial Action Task Force (FATF) published the mutual evaluation report for Singapore.Central Bank of Ireland (CBI)The CBI recently published new research regarding “Beyond the Big Three: A Broader View of Competition in the Irish Loan Market (PDF 1.9MB)” drawing on granular loan-level data from the Central Credit Register. This research provides an analysis of competition in the Irish loan market. The research notes that one-third of Irish firms including 40% of SMEs borrow from multiple lender types, indicating an active and competitive ecosystem rather than a captive market.Artificial Intelligence The European Parliament and Council negotiators reached a provisional deal on amending certain rules within the EU’s Artificial Intelligence (AI) Act as part of the digital omnibus package. The Department of Enterprise, Tourism and Employment (DETE) also published a press release following this provisional agreement on the digital omnibus package for the AI Act. The provisional agreement needs to be formally adopted by both Parliament and Council before it can enter into law. The co-legislators intend to adopt it before 2 August 2026, the start date for current rules on high-risk systems.CybersecurityThe National Cyber Security Centre (NCSC) in the UK is advising all organisations, irrespective of size, to plan and prepare for the vulnerability patch wave that is expected to address decades of technical debt.Other NewsThe Pensions Authority has announced the introduction of eXtensible Business Reporting Language (XBRL) reporting for pension schemes; trustees are advised to begin preparing for future XBRL-based reporting including assessing their operational readiness.The Pensions Authority has published its 2025 supervisory activities report. While the Authority note that the findings set out in this report are not exhaustive, it expects all trustee boards and their advisers to consider these findings and evaluate their own practices to establish if any improvements are required.The Financial Conduct Authority (FCA) in the UK is launching a review of the claims management market following concerns that consumers are being failed by some claims management companies (CMCs) and law firms.The Global Preparers Forum (GPF) is inviting applications from experienced financial statement preparers to join as members from 1 October 2026.Accountancy Europe has responded to the joint consultation by the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) on their proposed Strategy and Work Plan for 2028–2031.For further technical information and updates please visit the Technical Hub on the Institute website.        This information is provided as resources and information only and nothing in the information purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the information. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of the information, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained herein.