News

The European Union has adopted the 19th package of sanctions against Russia. The new package of sanctions substantially increases the pressure on the Russian war economy, targeting key sectors such as energy, finance, the military industrial base, special economic zones, as well as enablers and profiteers of its war of aggression. Sanctions include an introduction of a total ban on Russian Liquefied Natural Gas (LNG) and a further clamp-down on the shadow fleet. Measures also target financial services and infrastructure (including for the first time crypto), as well as trade, the services sector, and strengthen anti-circumvention tools.  This information is provided as resources and information only and nothing in these pages 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 pages. 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 these pages, 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 in these pages.

The UK Government is making some changes and updates in relation to sanctions. On 3 November it launched a new sanctions enforcement action page on GOV.UK that brings together sanctions enforcement information from across HM Government - including penalty notices, annual reviews, case studies and key lessons for industry. It has also announced that there will be a move to a single list for UK sanctions designations from 28 January 2026. Currently the OFSI Consolidated List from HMT provides information relating to asset freeze and investment ban targets across all financial sanctions’ regimes implemented in the UK. This list will close at 09:00GMT on Wednesday 28 January 2026 and from then the UK Sanctions List will be the only source for all UK sanctions designations. Guidance has been issued on moving to a single list for UK sanctions designations where you can read more about the changes. This information is provided as resources and information only and nothing in these pages 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 pages. 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 these pages, 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 in these pages.  

In Irish news, Revenue has issued a reminder about today’s deadline for filing Local Property Tax returns, and Revenue has released a press statement following the announcement that Fastway Couriers has entered receivership. In UK news today, HMRC provides guidance on choosing software for Making Tax Digital for Income Tax and the most recent Administrative Burdens Advisory Board publishes its annual report. In International news, the EU Commission hosts a dialogue on VAT in the Digital Age. Ireland 1. Revenue has issued a reminder about the Local Property Tax (LPT) filing obligations due today. In addition, Revenue has updated several related LPT guidance documents. 2. Revenue has issued a press release on the potential impact of the recent announcement that Fastway Couriers has entered receivership. UK 3. Read the guidance issued by HMRC on choosing appropriate software for Making Tax Digital for Income Tax. 4. The Administrative Burdens Advisory Board has published the results of its annual online survey aimed at improving HMRC's service to small businesses. International 5. Read about the recent dialogue hosted by the EU Commission on the VAT in the Digital Age (ViDA) proposals. 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.

With colder, darker days setting in, people may notice they experience a dip in mood, feel more irritable, fatigued and less motivated. The reason for this may be Seasonal Affective Disorder (SAD) or the less-severe form, the winter blues. SAD symptoms are very similar to depression but has a seasonal pattern. The HSE estimates approximately 7% of the population experiences SAD. Here, we share some timely information and advice on how to combat the winter slump.  What causes this? Nobody really truly knows what causes the winter blues or SAD, but some experts believe SAD is caused by fewer hours of sunlight during the winter months that deplete your body’s levels of serotonin – often called the ‘feel-good’ chemical. Low light levels are thought to affect the production of melatonin, which can disrupt the body’s internal clock (or circadian rhythm).  If you’re diagnosed with SAD, your GP may recommend treatment with antidepressants called selective serotonin re-uptake inhibitors (SSRIs), alongside talking therapies, such as cognitive behavioural therapy.  But if you have milder symptoms, we have some tips you can try to protect yourself against the winter slump: See the light Sunlight is known to activate a specific hormone called serotonin. This hormone is responsible for regulating and elevating your mood, helps with sleep and wakefulness and is linked to feeling good and living longer. Try getting outside into the sunlight as early and often as possible throughout the day.  Get help from tech If access to bright sunlight isn't possible, studies have shown light treatment/therapy is another effective way of reducing the symptoms of SAD. Many people with SAD or the winter blues respond well to light therapy, which involves sitting in front of a special light therapy lamp – or light box – at home. You may also find dawn simulators useful,  they use a gradual light to wake you up in the morning, simulating a summers morning. Always remember to check any light therapy devices to make sure that it has been made by a fully certified manufacturer and is designed for treating SAD. Additionally, you could try using aromatherapy and the use of essential oils to help boost your mood. As some studies suggest that it could potentially lessen any symptoms. Get active Physical activity is widely thought to be an effective way to boost your mood, and there’s a solid body of evidence that suggests exercise may help to alleviate depression. Exercising outdoors, especially when it’s sunny, may have an even stronger effect on SAD/winter blues symptoms. You don’t have to turn into a fitness fanatic. Just being more active in your day-to-day life can have a huge benefit on the way you feel, especially during the winter. Eat mood-boosting foods Many experts believe what you eat can make a huge difference to your mood, especially during the winter, particularly foods that contain the amino acid tryptophan, which converts into serotonin in the brain. Foods rich in tryptophan include bananas, turkey, chicken, fish, cheese, eggs, milk, nuts, avocados and pulses. Some also believe omega-3 fatty acids may enhance serotonin activity, so eat oily fish such as salmon, mackerel, sardines and fresh tuna at least once a week (if you’re a vegetarian or vegan, try adding flaxseeds or chia seeds for an omega-3 boost). Stay warm Some SAD sufferers say their symptoms improve when they keep warm, so make sure your home and workplace are properly heated and wrap up well when you go outdoors.  If you’re worried about the financial cost of turning up the thermostat, get in touch to find out about CA Support's emergency financial assistance.   Keep in contact When feeling down, it’s natural to want to shut ourselves away from the world. It’s important to keep our social muscles active, as positive relationships bring both joy and perspective to our lives. Make sure you arrange regular catch-ups with your family and friends throughout winter.  How we can help The Thrive wellbeing hub provides free emotional supports to members, students and family members. We offer a confidential space for you to talk, whether you need a listening ear, wellbeing advice or professional counselling, we are here for you. You can contact the thrive wellbeing team by email at: thrive@charteredaccountants.ie or by phone: (+353) 86 0243294

Following Fastway Couriers' entry into receivership, Revenue issued a press release last week acknowledging the potential impact this may have on several hundred subcontractors, franchisees, and solo operators across the delivery network, including the potential impact on timely tax compliance. Recognising the financial impact, Revenue has advised it will take a pragmatic approach and work with affected individuals and businesses to maintain good compliance records, including offering flexible payment arrangements where temporary cashflow difficulties arise.  Couriers and businesses experiencing cashflow difficulties due to the closure are encouraged to contact the Collector-General’s office promptly at 01 738 3663 or through MyEnquiries to agree suitable arrangements and ensure continued tax compliance.  

Readers are reminded that Friday 7 November 2025 is the return filing date for Vacant Homes Tax (VHT). The VHT is due on residential properties that are liable to Local Property Tax and are occupied for less than 30 days in the year ending 31 October 2025. Further information is available on Revenue’s website.   VHT returns can be submitted via Revenue’s myAccount, ROS or the LPT Portal. The system will guide property owners through the three-step process to review their details, submit their return and make a payment if necessary.  

Revenue has published new guidance on the completion of corporation tax returns, which includes updates on the 2025 Form CT1 together with information outlining how to access help in completing the form. The Form CT1 for accounting periods ending in 2025 has been available for filing via ROS and the ROS Return Preparation Facility (RPF) since April 2025 with additional updates being made to the form in June. The guidance includes the following updates for 2025: Updates to the company details panel (paragraph 1) including de minimis aid and transfer pricing. Updates to the trading results panel (paragraph 2) including a new section for lease taxation section 403/404. Changes to the extracts from accounts panel (paragraph 3) including text changes for iXBRL filing and expenses and deductions for stock exchange listings expenditure. Changes to the Irish investment and other income panel (paragraph 4) for an R&D clawback. Changes to the foreign income panel (paragraph 5) relating to foreign life policies and offshore funds. Changes to the deductions, reliefs and credits panel (paragraph 6) relating to stock exchange listing expenditure. Changes to the research and development panel (paragraph 7) including unused carry forward, section 766C and S766D. Changes to the film tax panel (paragraph 8) for the Scéal Enhanced Credit. Clarification around certain fields relating to lease taxation. The Institute continues to engage with Revenue through the TALC Collections Sub-committee to propose ways to simplify and reduce complexity of the Form CT1 for 2026.

Revenue has updated several guidance manuals to reflect the changes introduced by the Finance (Local Property Tax and Other Provisions) (Amendment) Act 2025. The updated manuals include details of the revised valuation bands and rate changes which will apply to Local Property Tax (LPT) liabilities from 2026 onwards, and the extension of the valuation period from four to five years effective 1 November 2025. Legislative changes have also broadened the exemption for properties affected by defective concrete blocks in their construction and introduced a €105,000 reduction in chargeable value for homes adapted for disabled persons. The following TDMs have been updated where necessary to reflect these changes: 01-01 Meaning of residential property 02-00 Properties used for diplomatic purposes 02-01 Overview of Exemptions 02-02 Residential properties fully subject to commercial rates 02-03 Long term mental or physical infirmity 02-05 Special needs accommodation 02-06 Property used by a charity for recreational activities 02-11 Permanently and totally incapacitated individuals 02-12 Exemption for residential properties owned by a North-South Implementation Body 02-13 Properties constructed using defective concrete blocks 04-01 Valuation of a residential property* 04-02 Change of liable person during a valuation period 04-03 Property adapted for occupation by disabled persons 07-02 Surcharge for non-compliance with LPT.

Revenue has released its Q3 service delivery report, providing data and insights on real-time reporting, taxpayer access to online information, and direct interactions initiated by taxpayers during the quarter. The report outlines that 116,179 tax returns were filed via ROS and 194,690 LPT transactions were processed in the quarter. A total of €3.2 billion was repaid by Revenue. In terms of online inquiries, the report confirms that 498,180 MyEnquiries were received by Revenue in Q3 with details of the estimated response time being applied in 102,643 cases. The report outlines that the estimated response time given was met or exceeded in 41 percent of the responses. A total of 380,543 calls had the ‘hold my place in queue’ service available with the report confirming that 14.75 percent of the relevant callers availed of the service.

Revenue has updated the appendix in its guidance on the tax treatment of certain benefits payable under the Social Welfare Acts to reflect the name change from the "Widowed or surviving civil partner grant" to the "Bereaved Parent grant".

Revenue has updated its guidance Compensation Payments in respect of Personal Injuries providing additional definitions and details in respect of related legislation. The examples in the guidance have also been updated to reflect current payment rates and are presented in a clearer, more accessible format.

Revenue has updated two other guidance notes this week dealing with arrears of pay and the prompt for action application. The details are as follows: The content of the manual on arrears of pay being paid to an employee who has left an employment has been included in chapter 7.3 of the Employers’ Guide to PAYE with effect from January 2019. Revenue has published new guidance on the Prompt for Action system which allows Revenue to generate and issue bulk, ad hoc, or tailored communications to specific customer groups, typically through online channels.