News

The OECD has published a working paper that considers the impact of population ageing on tax revenues. In addition to highlighting the impact of demographic trends and the design of the underlying tax system, the paper considers various policy options and areas for further research.

The European Parliament has adopted two reports on tax matters. The first report outlines the position on the tax aspects of the 28th regime and also proposes schemes aimed at improving attractiveness for innovative companies. The second report considers the consequences of the VAT exemption for financial services, and explores how addressing these issues could lead to a more coherent and effective tax framework across the Single Market.

The Central Statistics Office has released the provisional Quarterly National Accounts for the first quarter of 2026. The figures show that GDP fell by 12.1 in the first quarter of this year, mainly due to the multinational dominated sector contracting by 27.1 percent during the period. On a more positive note, the domestic market expanded by 0.4 percent in the quarter. Modified Domestic Demand, a broad measure of underlying domestic activity covering personal, government and investment spending, also expanded, rising by 0.6 percent in the first three months of 2026.The report additionally notes a 0.6 percent increase in consumer spending during the quarter, along with an increase of 4.2 percent in the level of imports. Exports, however, decreased by 7 percent in the quarter. Commenting on the data, Tánaiste and Minister for Finance, Simon Harris said:“Despite ongoing external headwinds, today’s figures show the domestic economy continued to grow robustly in the first quarter with Modified Domestic Demand expanding by 4¼ per cent on an annual basis.While today’s figures show a large annual contraction of 17 per cent in GDP, this reflects a return to more normal levels of exports in the first quarter of this year. Indeed, the exceptional level of exports seen in the same quarter of last year was driven, in part, by the front-loading of pharmaceutical exports to the US in anticipation of tariffs. My Department expects this effect to moderate over the coming quarters, with GDP projected to return to growth over the remainder of the year.”

Revenue’s Economic Research Unit is currently conducting a survey of taxpayers who file a Form 11 Income Tax Return. The survey aims to provide Revenue with a better understanding of the challenges taxpayers encounter and to help improve the quality of the services provided. Taxpayers selected to complete the survey, will receive an email inviting them to complete a short online survey before 23 June 2026. The survey does not request personal or financial information and is not linked to individual tax affairs. Revenue also emphasises that it does not issue emails containing website links, and the survey link is provided solely to gather feedback to improve services.

The Department of Finance and the Department of Public Expenditure, Infrastructure, Public Service Reform and Digitalisation have published the Fiscal Monitor for May 2026 confirming an Exchequer deficit of €2.3 billion to the end of May. This compares to a surplus of €4.0 billion recorded for the same period last year, representing a decrease of over €6 billion year on year.When the Apple State Aid receipts are excluded, the underlying Exchequer balance fell by €3.0 billion, a decline primarily attributable to transfers to the Future Ireland Fund and the Infrastructure, Climate and Nature Fund. Tax receipts collected to the end of May were €38.7 billion, an increase of 6.1 percent on the same period in 2025. Income tax receipts for the month of May were €3.2 billion which was €0.4 billion ahead of receipts collected in May 2025. On a year-to-date basis, receipts to the end of May 2026 of €15.6 billion were also ahead of the same period last year by €1.1 billion.Continuing the trend seen in previous months, corporation tax receipts of €2.7 billion were collected in May, an increase of €0.2 billion on the same month last year.  On a cumulative basis to end of May 2026, receipts of €6.2 billion were up by €0.5 billion on the same period last year. VAT receipts collected in May of €4.0 billion is reflective of May being a VAT due month and cumulative receipts of €12.2 billion were ahead by 7.1 percent on end of May last year.Commenting on the figures, Tánaiste and Minister for Finance, Simon Harris said:“Today’s Exchequer returns are a further indicator that, despite all the turmoil in the global economic landscape, Ireland’s economy remains remarkably resilient.The robust growth in income tax and VAT receipts, in particular, point to the success of this Government’s budgetary strategy, which is supporting households and businesses and protecting jobs in a time of exceptional uncertainty.However, we are conscious too that people are worried about the impact of the conflict in the Middle East on their daily lives and their living expenses.Over the course of the next few weeks, this Government will put in placing the building blocks for Budget 2027 – a budget that will support working families and ensure people keep more of their hard-earned earnings each month.”

The Institute made representations on behalf of members at last week’s meeting of the Tax Administration Liaison Committee (TALC) Collections sub-committee. Among the issues discussed, Revenue outlined clarifications on de-registration, provided an update on Local Property Tax (LPT) compliance, and encouraged tax agents to remain alert to cybersecurity risks over the summer months. Minutes of the meeting will be available in due course.Manage tax de-registrationPractitioners have reported difficulties with de-registering clients for corporation tax via ROS as the current process requires the upload of a letter from the taxpayer to the agent providing consent to de-registration.While Revenue confirmed it is working to remove this requirement, it has advised that, in the interim, agents should upload the taxpayer’s letter of consent to facilitate de-registration.Local Property TaxRevenue provided an update on LPT returns filed in respect of the 2026-2030 valuation period. There are still approximately 10,000 income tax/corporation tax registered property owners where the LPT returns remain outstanding, albeit payment arrangements are in place. Revenue reminded agents to check that their clients are LPT compliant in advance of the filing deadline. Where LPT returns are outstanding, such non-compliance may give rise to surcharges on filing income tax, capital gains tax or corporation tax returns, subject to statutory caps, in accordance with section 38 of the Local Property Tax Act 2012. Interest charges may also arise, and tax clearance applications could also be impacted. Cyber security awarenessRevenue reminded tax agents to remain vigilant regarding cybersecurity over the summer holiday period, noting that reduced staffing levels may present opportunities for unauthorised system access by bad actors.

After testing by HMRC and ongoing engagement with stakeholders, including Chartered Accountants Ireland, on a more realistic timeline for implementation, HMRC has announced the timetable for the switch on of multi-factor authentication (MFA) for agent online accounts. The aim of the timetable is to give agents flexibility over the timing of the ‘switch-on’ process and, for those agents that need it, more time to prepare.Ahead of the roll-out of MFA, HMRC published updated guidance on this in its Tax Agents Handbook which explains the actions that HMRC recommends agents take now to prepare. Once launched, MFA will eventually be required for all HMRC online agent accounts.MFA will add an extra layer of security to an agent’s online HMRC account; it already protects Government Gateway (GG) accounts for individuals and organisations. HMRC is now extending this protection to agent accounts in response to ongoing and evolving online security threats. When you sign in to your account, you enter your Government Gateway user ID and password. MFA will then ask you to enter a one-time access code. This extra step helps protect the account, even if its sign in details have been compromised and it means that HMRC will not be required to suspend the agent’s access to their online accounts. The introduction of MFA therefore brings agent accounts in line with the protection already in place for individual and business GG accounts.From 10 June 2026, agents wishing to activate MFA earlier than full rollout will be able to choose one of two specific dates over the summer for MFA to be activated on their accounts. This means that agents who have already made the necessary preparations can activate MFA on an earlier date if this suits their business needs. Anyone not activating an earlier date will be required to do so from later in the year.Agents wishing to take advantage of an earlier and defined activation date must notify HMRC by completing an online form. This form will be available from later this week when signing in to either an ‘agent services account’ or a ‘HMRC online services for agents account’. However, the form will not appear on accounts where MFA has already been activated. The form must be completed by a specific date to activate switch on in either July or August 2026; the relevant dates for completion and the associated switch on date are as follows:To have MFA activated from 15 July 2026, agents must submit the form to HMRC by midnight on 30 June 2026.To have MFA activated from 19 August 2026, agents must submit the form to HMRC by midnight on 31 July 2026.Once activated, MFA will be applied to all accounts held under the agent ID(s) provided. Agents with multiple IDs can choose which ones to activate for each deadline. Any IDs not activated by earlier deadlines will automatically be included in the final activation window.Between 28 September 2026 and 15 October 2026, MFA will then be activated on all remaining agent accounts that do not already have it. HMRC is unable to give a specific date for activation within this period to agents who are in this final group. Agent accounts that do not already have MFA will continue to see a message notifying them of the activation dates when signing in to either their ‘agent services account’ or an ‘HMRC online services for agents account’ until it is activated.HMRC has worked closely with stakeholders to develop this approach and recognises that some agents require additional time to prepare whilst others are ready to adopt the additional security as soon as possible. If agents want to benefit from a defined date at which MFA will be activated, they should opt for one of the two earlier dates specified. The Institute therefore strongly encourages all agents to prepare in advance for their chosen activation date by selecting their preferred future settings and checking for any existing MFA settings that may be outdated. This will ensure you are ready to use MFA on the date it is switched on for you. Note that there are no changes to the authentication journey for HMRC’s software channels such as Making Tax Digital for VAT or Income Tax.

HMRC is holding a webinar later this week which sets out changes to the duty reimbursement scheme (DRS) which enables a business to reclaim customs duty on goods sent from Great Britain (GB) to Northern Ireland where this could have been relieved or waived and the goods did not then enter the EU. Join the webinar using this Microsoft Teams link. The key changes to the scheme are as follows:To introduce a replenishment mechanism which allows businesses that have used de minimis state aid on imports to top up their waiver balance when a successful DRS claim is made on the same goods, andA new Interchangeable Goods mechanism which removes the need for ‘1-for-1’ evidence requirement if interchangeable status can be proved. More detail on each of these will be covered during the live webinar. HMRC’s full message about this webinar is set as follows:"We are aware that following the arrangements for business to business (B2B) parcels coming into effect on 1‌‌‌ May‌‌‌ 2025, some businesses in Northern Ireland (NI) may have been charged customs duty on goods sent from Great Britain (GB) where this could have been relieved or waived. If you are a business that sends or receives B2B parcels moving from GB to NI, then it is important that you are aware of what information your express operator needs to ensure your goods continue to move smoothly and customs duty isn’t charged unnecessarily.You should also speak with your express operator to understand the most effective way for them to receive information if you are:moving goods under the UK Internal Market Scheme (UKIMS) – the express operator will require the UKIMS authorisation number and the associated Economic Operators Registration and Identification (EORI) number for the responsible business – if you are not already registered for UKIMS, check your eligibility and Apply for authorisation for the UK Internal Market Scheme if you bring goods into Northern Irelandclaiming preferential origin treatment under the UK to EU Trade & Cooperation Agreement if the goods are of UK origin – information and or evidence needs to be provided to the express operator – this may be through a commercial invoice claiming Returned Goods Relief if the goods are eligible – information and or evidence needs to be provided to the express operator – this may be through a commercial invoice using a waiver under the Customs Duty Waiver Scheme (CDWS) if the responsible business has a CDWS account which can be used – the express operator must be informed that a waiver should be used and the EORI associated with the CDWS must be providedThe Duty Reimbursement Scheme (DRS) remains available if you are not able to relieve or waive duty via any of the mechanisms above and the goods did not enter the EU. To make a claim you will require certain information including the Movement Reference Number (MRN) from the Customs Declaration Service (CDS) which your express operator will be able to provide you.‌‌‌Improvements to the DRS are now live. HMRC will be hosting a webinar on Thursday 11‌‌‌ June‌‌‌ 2026 from‌‌‌ 2pm‌‌‌ to‌‌‌ 2.45pm‌‌‌ to talk through the changes, what they mean, and answer any questions businesses may have. You can join the session through the following Microsoft Teams link.For information and support, you can visit the GOV.UK Windsor Framework resource page for moving parcels for specific support for businesses in GB sending goods via parcels, or businesses in NI receiving goods via parcels.”

In this week’s detailed miscellaneous updates which you can read more about below, HMRC has sent an update on the interaction between Making Tax Digital (MTD) for Income Tax and the winter fuel tax charge, and HMRC’s improved agent webchat service is now available at a new link.In addition to the above, readers should also note the following:HMRC has updated its guidance on the definition of R&D for tax purposes to cover creative interdisciplinary projects,Guidance for agents on how to prevent loss of access to HMRC online services when an account administrator leaves has been published,A new VAT guidelines for compliance document has been published: Help with VAT place of supply of services in the oil and gas sector – GfC18, andThe House of Commons Library has published a research briefing on the two income tax allowances that married couples and civil partners may be entitled to claim.2025/26 interaction between MTD for Income Tax and the Winter Fuel tax chargeHMRC has sent an update on this interaction which is relevant to those using MTD for Income Tax in 2025/26 who must also pay the winter fuel tax charge (WFTC) .  For this cohort, in 2025/26 the WFTC will not be included within the MTD tax return or third-party software (those participating in the beta trial). Instead, HMRC will assess the charge separately once the taxpayer’s final return has been submitted and processed. HMRC will then write directly to those taxpayers who are liable which will confirm the WFTC amount due and how this can be paid. This means that, where applicable, HMRC will confirm any additional liability due as a result of the WFTC, only after submission of the MTD tax return, rather than as part of the return itself. The payment of this additional amount should be made through HMRC's usual payment services and is due following notification of liability. Importantly, this is specific to the 2025/26 testing phase only. From 2026/27 onwards, HMRC is aiming to align this journey more closely with the established self-assessment approach, providing a more integrated end-to-end experience.  HMRC anticipates that this will impact a relatively small number of taxpayers and is putting in place consistent guidance and support to ensure a smooth experience for those affected. Improved agent webchat service HMRC has recently made a number of changes to its agent webchat service which is designed to achieve an improved overall experience for agents. The updated link for the service is as follows: Agent Webchat.It should be noted that the previous link to the agent webchat service no longer works. Therefore if you have saved or bookmarked this, it won’t take you to the improved service, meaning you could be missing out on quicker access to support for many common Self-Assessment and PAYE queries, help with registrations, deregistrations, reactivations and much more.

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. We have also been notified of scheduled maintenance taking place today (Monday 8 June 2026) to the Plant Health Export Service Portal between 6:30pm and 10pm. You will be unable to access the system during this time.Miscellaneous guidance updates and publicationsThis week’s miscellaneous guidance updates and publications are as follows:UK-Gulf Cooperation Council Trade Deal,Reference Document for The Customs Tariff (Establishment) (EU Exit) Regulations 2020,Communications resources to help you move goods from Great Britain to Northern Ireland,CDS Declaration Completion Instructions for Imports,Data Element 2/3: Documents and Other Reference Codes (National) of the Customs Declaration Service (CDS),Appendix 1: DE 1/10: Requested and Previous Procedure Codes,Apply to claim a repayment or remission of import duty, or reclaim state aid used on ‘at risk’ goods brought into Northern Ireland,CDS Declaration Completion Instructions for Imports,Data Element 2/3: Documents and Other Reference Codes (National) of the Customs Declaration Service (CDS),Appendix 1: DE 1/10: Requested and Previous Procedure Codes, andApply to claim a repayment or remission of import duty or reclaim state aid used on ‘at risk’ goods brought into Northern Ireland.

Your LinkedIn Profile is essentially paper-clipped to the back of your CV. It’s your new business card. It’s your online dynamic professional profile. It’s the first place a prospective employer goes after reading your cv. It’s also easy networking. Its your personal brand. Its all of these things and so it is vital to manage it and keep it updated habitually.   Invest in a professional photo. Highlight all of your qualifications and link to the affiliated institutions.  Showcase your key achievements in your About/Profile section. Use keywords pertinent to the direction / sector you want your career to progress. Join groups / Get active – Like / Share / Comment!Follow companies that you are interested in and fit your network. Connect with 10 or 20 new people in your sphere of influence every week with a polite message and build your connections consistently . These tips are key whether you are actively seeking a new job or just keeping an eye on your career trajectory.  However if you are new to LinkedIn and need a quick guided tour or tips to improve your profile and use get in touch with your Chartered Accountants Ireland Careers Team today and we can set up a quick LinkedIn Review Session to improve it for you.   Careers@charteredaccountants.ie Dave Riordan FCA Careers & Recruitment Consultant. Chartered Accountants Ireland   

Chartered Accountants Ireland has launched a new integrated campaign, Where Business Leaders Begin, building on our ambition to grow the next generation of Chartered Accountants and strengthen engagement with employers across business. The campaign supports our broader brand positioning of Trusted Business Leadership, reinforcing the role of Chartered Accountants at the heart of organisations driving performance, influencing decision-making and shaping future leaders. What the campaign aims to achieve Position the Chartered brand as the standard for Trusted Business Leadership Strengthen employer demand for ACA trainees, particularly across industry and business Challenge the perception of ACA as primarily a practice or audit qualification Demonstrate the value of developing Chartered talent within organisations Increase awareness and applications, positioning ACA as the starting point for a successful and impactful career A two-phase approach As introduced in Chartered News, the campaign will roll out in two distinct phases: June – Employer focus Targeting key decision-makers through radio, press, LinkedIn, Spotify and outdoor advertising including Dublin Airport T2, supported by events and direct engagement from our Business Development team. July – Student focus Expanding to prospective students through social and digital channels, highlighting the flexibility of our education offering, including adaptive learning and multiple enrolment points throughout the year. Bringing the campaign to life At the heart of the campaign are real member advocate stories, also featured in the Chartered News launch, including Feargal O’Rourke, Chair of IDA Ireland, and Caroline Sherry, CFO of Hostelworld. These stories bring the campaign to life by: Showcasing the breadth of career opportunities open to Chartered Accountants Demonstrating the impact Chartered professionals have across organisations and industries Highlighting the value of ACA training for both employers and aspiring students For employers, the focus is on developing future talent through ACA training. For students, it is about the career journey and opportunities that begin with Chartered. How you can support As highlighted in Chartered News, members play a vital role in supporting the next generation. You can get involved by: Sharing the campaign within your organisation Speaking to prospective students or colleagues about ACA Making introductions to employers who may benefit from training Chartered Accountants If you are speaking with a prospective student or employer, our team is here to help and would be delighted to support the conversation. Learn more about becoming an employer partner: Explore employer partnerships