Last week, members of the Institute’s Tax and Public Policy team met with senior representatives from the Department of Finance and the Department of Agriculture, Environment and Rural Affairs in Northern Ireland in our continued effort to highlight the disproportionate impact that the April 2026 restrictions to the Inheritance Tax (IHT) reliefs, agricultural property relief and business property relief, will have in Northern Ireland (NI). The meeting followed on from a recent letter from the Minister of Finance in response to the Institute having previously shared with local government its April 2025 letter to the Exchequer Secretary to the Treasury (XST) on this issue. The Institute continues to call on the UK Government to introduce a special derogation for the region from these changes and will be making further representations on this key issue for the agricultural and family owned business sectors in NI ahead of the Autumn Budget on 26 November. During the meeting it was clear that local government shares our concerns in relation to this. Government representatives also outlined the wide range of work being undertaken locally to discuss this, particularly by the Minister of Finance, with Westminster. This includes direct engagement with the Chancellor of the Exchequer at a meeting last month in Stormont Castle. At present, HM Treasury continues to insist in discussions and in the policy paper published with the draft legislation on L-day in July that their data shows these changes will have minimal impact. They are also resisting all representations on how the draft legislation could be mitigated. The Institute set out a range of mitigations in its letter to the XST earlier this year to reduce the impact on genuine farming activity and the family owned business sector. During the meeting, the Institute also took the opportunity to highlight its recently launched refreshed campaign for a lower rate of corporation tax in NI as outlined in the position paper “Enhancing Our Competitiveness”, which was launched in June.

In a recent press release, Revenue advised that it has commenced the final stage of its 2025 PAYE correspondence campaign and intends issuing letters to PAYE taxpayers who, based on information available to Revenue, may have overpaid or underpaid tax in 2023. As part of the campaign, Revenue has highlighted that 31 December 2025 is the deadline for claiming any additional tax credits or reliefs due for the 2021 tax year. Revenue’s letter campaign explains that a Preliminary End of Year Statement (PEOYS) is available in myAccount for all PAYE taxpayers. This statement shows if the taxpayers provisional tax position is balanced or if there may be an overpayment or underpayment. To finalise their tax position, taxpayers review the PEOYS and add any missing information when completing their PAYE Income Tax Return. Addressing concerns that PAYE taxpayers may have if they have an underpayment, Aisling Ní Mhaoileoin, Revenue’s National PAYE manager, commented as follows: “If you owe Revenue money, we’ll work with you to find a suitable payment option. We generally collect any underpayment by reducing the taxpayer’s future tax credits over a period of four years. This means that an underpayment of €400 will be collected by reducing the individual’s tax credits by approximately €2 a week over the next four years. If a taxpayer is entitled to claim any additional tax credits or reliefs, this may reduce any underpayment they have. It is, therefore, vitally important for PAYE taxpayers to file a PAYE Income Tax Return and finalise their tax position.”

The Institute, under the auspices of the CCAB-I, made representations on behalf of members at last week’s meeting of the Tax Administration Liaison Committee (TALC) Collections sub-committee. The topics discussed included an update from Revenue on Local Property Tax (LPT) in relation to the revaluation date of 1 November 2025. Revenue also provided updates on its banking modernisation programme and agent notifications of weekly Payment Demands and Final Demands notices issued to clients. Revenue informed the meeting that it has written to 286,000 PAYE taxpayers with over/underpayments of tax for 2023. It was also agreed that a bespoke meeting to discuss simplification of the Form CT1 2026 is to be scheduled later this year. The Institute has consistently raised the growth in complexity in the Form CT1 in recent years and hopes this meeting will commence a process to substantially simplify the Form CT1 in the future. LPT 2025 is a revaluation year for LPT. Revenue is to begin a communication campaign to 1.5 million property owners regarding revaluing 2.2 million properties from mid-September 2025. Property owners will be required to: Value the property as at 1 November 2025, Submit the property valuation to Revenue and file a return by 7 November 2025, and Confirm the preferred payment arrangement for 2026. The valuation on 1 November 2025 will apply for the years 2026 to 2030 inclusive. The LPT portal and website content are due to be updated from mid-September for the new revaluation period. Banking modernisation programme Revenue has confirmed that Phase 1 of its banking modernisation programme has gone live since 11 August. In this regard, Revenue has written to 23,000 taxpayers that pay preliminary tax by direct debit detailing the new payment mandate number. No action is required by the taxpayers. 11,000 VAT fixed direct debit (FDD) taxpayers have been impacted by the change. Taxpayers who have yet to transition from paying VAT by FDD and who wish to change the FDD amount,  must do so by sending a request via MyEnquiries as the relevant functionality will no longer be available. Taxpayers wishing to migrate to a simplified arrangement must make an application to the Collector General’s Division. Phase 2 has commenced and Revenue intends to redesign the ROS debit instruction (RDI) and single debit instruction (SDI). Non-resident Landlord Withholding Tax, LPT and Vacant Homes Tax will be integrated onto a payment’s hub by January 2026. Agent lists of initial and final demands Revenue acknowledged the positive level of agent engagement since it began issuing agent notifications of client Payment Demands and Final Demands notices to the agent ROS Inbox earlier this summer. 2023 PAYE campaign From 1 September 2025 Revenue has commenced issuing letters to 286,000 PAYE taxpayers with possible under/overpayments of tax for 2023. Taxpayers are required to include details of any income they may have from other sources, including taxable payments from the Department of Social Protection. Revenue reminded the forum that PAYE taxpayers can access a Preliminary Statement from 1 January in the year following the year of assessment via MyAccount. Accordingly, the provisional tax position for 2024 PAYE taxpayers is already available to view.

The Department of Finance and the Department of Public Expenditure and Reform have published the Fiscal Monitor for August 2025 confirming an Exchequer surplus of €3.2 billion to the end of August. This compares to a surplus of €3.8 billion recorded for the same period last year. Tax receipts collected to the end of August were €64.1 billion, which was €4.4 billion higher than the same period in 2024. Excluding the once off receipts from the Court of Justice of the European Union (CJEU) judgement in the Apple State Aid case, total receipts amounted to €62.4 billion, an increase of €2.6 billion on the corresponding period in 2024. Income tax receipts for the month of August were €2.9 billion which was €0.3 billion ahead of receipts collected in August 2024. On a year-to-date basis, receipts to the end of August of €23.2 billion were up by €1.0 billion (4.7 per cent), when compared to end of August 2024. Corporation tax receipts of €2.1 billion were collected in August, which is down by €1.6 billion on the same month in 2024. The publication notes that this reflects a ‘base effect’ i.e. an exceptionally strong August return last year. On a cumulative basis, receipts of €18.2 billion were up by €1.9 billion on the same period last year. When the once-off CJEU receipts are excluded, cumulative corporation tax receipts to August 2025 amounted to €16.4 billion, up on the same period last year by €0.2 billion. VAT receipts collected in the month of €0.4 billion reflecting the fact that August is a non-VAT due month. Cumulative receipts of €15.2 billion were ahead by 4.8 percent on end of August last year. Commenting on the figures, Minister for Finance, Paschal Donohoe said: “Today’s figures have provided a reminder of the vulnerability in our corporation tax base, with a steep fall this month – while this had been anticipated after a very strong August last year, corporation tax is now only marginally ahead of 2024 (when once-off CJEU receipts are excluded). Other revenue streams, particularly income tax and VAT receipts, have been performing steadily and are broadly in line with expectations for this point in the year, reflecting the underlying strength of our economy”.

This week the first of two CPD webinars, which will look at Making Tax Digital (MTD) for income tax from different angles, will take place. More details on each are available below. Once again, we encourage members with clients affected to book onto both of these webinars. HMRC has also recently launched a new software choices page. CPD webinars Tim Palmer’s two hour CPD webinar takes place later this week on Thursday 11 September and is still open for booking. This webinar will deal with the detail of the technical rules and practicalities of MTD. Planning opportunities will also be considered. Next week at 1pm on Tuesday 16 September, HMRC are delivering a 1 hour webinar which will mainly focus on key readiness tips for agents and taxpayers. Spaces are still available to book. The detailed agenda for Tim Palmer’s webinar is as follows: The requirements of MTD for income tax, Which self-employed individuals and landlords will be mandated to comply, The turnover test, Digital record-keeping, The submission of quarterly updates, including what must be submitted, The election to use calendar quarters instead of fiscal quarters, Traders with turnover below the VAT threshold, The submission of the final declaration, Planning opportunities, The software decision, Practical case studies, The transitional rule, Pre-populated income, The impact on the construction industry, and A general overview of MTD for income tax. The HMRC led webinar on 16 September will be delivered by Sam Wood BSc ACA. Sam works with agents within HMRC’s MTD programme and has a background in accounting and digital transformation. Sam is responsible for Cross Cutting Stakeholder Engagement, Policy and Strategy at HMRC and is a Chartered Accountant and a member of ICAEW with wide experience of MTD from its inception. Software choices page The software decision is a vital one for both agents and taxpayers affected by MTD for income tax. In recognition of this, HMRC has been working in recent months to enhance the support available to users selecting MTD for income tax compatible software. A new and improved software choices tool (which HMRC refers to as a ‘MVP’ (Minimum Viable Product)) was launched over the summer to help users find the right product for their needs. This new tool builds on the existing software choices guidance page, which has also been significantly updated. According to HMRC, it reflects extensive user research and close collaboration with external delivery partners and stakeholders, to ensure it is shaped by real user needs and experiences. Importantly, it is designed to be intuitive and accessible and should be of assistance in helping all taxpayers (including those without an appointed agent) navigate their options. However, HMRC is reminding users that this is an early iteration of the tool. The aim overall is to empower more users to take the next step in their MTD journey independently.

Last week we shared details of three technical consultations which were launched on ‘L-day’ in July that the Institute will be responding to. There’s still time to share your feedback on these consultations, two of which are of particular relevance to tax agents. Share your views by close of business on Friday 12 September by emailing tax@charteredaccountants.ie.

The OECD has published a revised BEPS Action 5 Transparency Framework on tax rulings following its review of the of the effectiveness of the transparency framework. This review has resulted in several changes to enhance the effectiveness. In addition, the report contains revised terms of reference applicable from the 2025 review year, as well as the revised assessment methodology for peer reviews to commence in 2026.

In this week’s detailed miscellaneous updates which you can read more about below, HMRC has sent an update on employee car ownership scheme changes and the latest bi-monthly Employer Bulletin was published recently. In other news this week: Last month HMRC published its internal manual on the administration of the Multinational Top-up Tax and the Domestic Top-up Tax under the UK’s Pillar Two rules,  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 Check HMRC’s online services availability page for details of planned downtime and the online services affected. Update on employee car ownership scheme changes and Euro 6e emissions standard As part of L-day on Monday 21 July the Government published draft legislation on changes to employee car ownership schemes. The decision has since been taken to delay implementation six months to 6 October 2026. The draft legislation on this remains open for technical consultation prior to final legislation being brought forward at the next Finance Bill. The relevant publications are as follows: Written statements - Written questions, answers and statements - UK Parliament, and Finance Bill 2025/26. In addition, the Government will be consulting in due course on introducing the Euro 6e emissions standard for cars and vans from April 2026. This standard will introduce more stringent real-world testing for plug-in hybrid electric vehicles (PHEVs) which in turn will lead to higher official CO₂ emission ratings and thus higher benefits in kind (BIKs). However, it was also announced on L-day that the Government does not intend for this to apply to BIKs until April 2028, in order to avoid significant increases for PHEV company cars. Further details are awaited on how this will work, however the overall intention is to ensure that BIK charges will be based on current emissions standards until April 2028, rather than the new Euro 6e standard.  Latest Employer Bulletin The August edition of HMRC’s Employer Bulletin includes articles on: 2024/25 P11D and P11D(b) forms, PAYE settlement agreements: calculations and payments, Disputed PAYE charges, Preparing businesses for the vaping products duty and the vaping duty stamps scheme, and Implementation of the Employment Rights Bill.

In this week’s post EU exit corner, we bring you the latest guidance updates and publications relevant in the post EU exit environment. 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. DEFRA has also sent an email setting out details of locations which are no longer valid points of entry for plant health imports into Northern Ireland. Miscellaneous guidance updates and publications This week’s miscellaneous guidance updates and publications are as follows: Designated export place (DEP) codes for Data Element 5/23 of the Customs Declaration Service, Report a problem using the Customs Declaration Service, CDS Declaration Completion Instructions for Imports, CDS Declaration Completion Instructions for Exports, Short shipments at temporary storage locations, Appendix 1: DE 1/10: Requested and Previous Procedure Codes, Appendix 1: DE 1/10: Requested and Previous Procedure Codes, Requested Procedure 10: Permanent Export or Dispatch, Requested Procedure 11: Inward Processing Prior Export Equivalence, Requested Procedure 21: Temporary Export under Outward Processing, Requested Procedure 22: Temporary Export or Dispatch under Outward Processing if not covered by Procedure 21, Requested Procedure 23: Temporary export for return of goods in the unaltered state (Returned Goods Relief), and Requested Procedure 31: Re-export or Dispatch of non-Union goods following a Special Procedure.  

The OECD has published the 2025 edition of Taxing Wages , which enables stakeholders to understand how tax systems affect incomes and income distributions, as well as incentives to work. This publication offers a timely snapshot of how labour taxation is evolving, as real wages recover, inflation eases and the need for higher revenues increases.

Welcome to the latest edition of Technical Roundup, our first edition after the summer break. This edition contains updates from 1 July to date. In developments since the last edition, Minister Burke has announced the commencement of Section 22 of the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024 resulting in a change to the current audit exemption regime, and the Minister has also signed into law Statutory Instrument S.I. No. 309/2025 - European Union (Corporate Sustainability Reporting) Regulations 2025 which transposes the ‘stop the clock’ EU Directive  and corrects other anomalies. Read more on these and other developments that may be of interest to members below. Financial Reporting The European Financial Reporting Advisory Group (EFRAG) has published its Feedback Statement on its response to the IASB’s Exposure Draft Provisions – Targeted Improvements. The Feedback Statement sets out the feedback received from stakeholders and explains how this input was used to inform their final comment letter. EFRAG has also updated its EU Endorsement Status Report, which includes some recently endorsed IASB and IFRS documents. The Financial Reporting Council (FRC) has proposed some narrow scope amendments to FRS 102 in its Exposure Draft FRED 87. This proposes changes to the prescribed formats for balance sheets where an entity applying FRS 102 uses the option to adapt the presentation format. FRED 87 remains open for public comment until 10 October 2025. The IFRS Foundation Conference 2025 took place on 23 and 24 June with the theme of ‘Knowledge in Practice’. In June, the International Accounting Standards Board launched its review of IFRS 16 Leases. The initial stage of this review involves a Request for Information, which is open for comment until 15 October 2025. EFRAG and the UK Endorsement Board have both published drafts of their comment letters. The IFRS Foundation has developed stand-alone modules for each section of the IFRS for SMEs with the second of the updated modules now available. Free CPD- learn about the upcoming changes to FRS 102 Please join us for some free CPD at our events in Belfast on 15th October and Dublin on 16th October, registrations can be made through these links. The focus of these sessions is the upcoming changes to FRS 102, which are effective from 1 January 2026. These changes will result in many FRS 102 preparers changing the way in which they measure and recognise leases and income, and these events will look at some examples of how accounting for these may change after 1 January 2026. Auditing and Assurance A new guidance Document TR 02/2025 Reporting under The Central Bank and Financial Services Authority of Ireland Act 2004 has been issued. This replaces two previously published documents: (1) Miscellaneous Technical Statement M46 which was issued in 2006 to provide guidance on the statutory duty on auditors to make an annual confirmation to the Financial Regulator as to whether there are matters to report in addition to, and including, any reports already submitted to them. (2) TA 05/2016 Update for auditors regarding prescribed enactments for the purposes of section 27B of the Central Bank Act 1997 which was a supplementary piece of guidance. All guidance can be found on the Institute’s Technical Hub. The FRC has published a Practice Note Exposure Draft – Guidance for audits of smaller and/or less complex entities to help auditors deliver more proportionate audits of small and medium-sized enterprises (SMEs). The consultation period is open until 17 October. The FRC has published a consultation on proposed amendments to the PIE auditor Registration Regulations in the UK. The consultation period is open until 2 October. IAASA has issued its Insights Podcast Episode #3: Understanding the Annual Audit Programme and Activity Report. The FRC has published its first guidance on the use of artificial intelligence (AI) in audit.  This new guidance outlines a rational approach to implementing a hypothetical AI-enabled tool designed to support innovation across the profession. On 18 July 2025, the FRC has published version 2.1 of Technical Actuarial Standard 300: Pensions (TAS 300). The FRC has issued a podcast ‘In Conversation: What’s the difference between statutory audit and assurance?’ hosted by Kate O'Neill, Director of Stakeholder Engagement and Corporate Affairs. Sustainability The European Securities and Markets Authority (ESMA) has issued a thematic note on sustainability-related claims used in non-regulatory communications. The International Sustainability Standards Board (ISSB) has published two exposure drafts proposing amendments to the SASB Standards and consequential amendments to the Industry-based Guidance on Implementing IFRS S2. In an interesting and thought provoking article published by the IFRS Foundation, Jenny Bofinger-Schuster, member of the International Sustainability Standards Board (ISSB) looks at some of the deeper insights on the topic of disclosure of information about anticipated financial effects  of sustainability-related risks and opportunities in a company’s financial statements. The European Commission has adopted a set of measures to simplify the application of EU Taxonomy which will reduce the administrative burden for EU companies while preserving core climate and environmental goals. ESMA and the European Environment Agency recently signed a Memorandum of Understanding to reinforce their collaboration in the area of sustainable finance. The International Auditing and Assurance Standards Board is hosting a three-part webinar series in October to assist sustainability assurance practitioners and professional organizations as they adopt, implement, or apply International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements (ISSA 5000). European Sustainability Reporting Standards On 31 July, the European Financial Reporting Advisory Group (EFRAG) launched a 60-day public consultation on the revised and simplified European Sustainability Reporting Standards (ESRS). This consultation is a major step and follows on from the European Commission’s Omnibus proposal which seeks to make reporting under the CSRD more manageable, while maintaining alignment with the European Green Deal. The public consultation remains open until 29 September and some of the notable goals achieved in the revised draft standard include; Mandatory datapoints (which need to be reported if material) have been reduced by 57% The full set of disclosures (both mandatory and voluntary) have been reduced by 68% The overall length of the standards has been shortened by over 55% VSME Over the Summer, the Voluntary Sustainability Reporting Standard for non-listed SMEs (VSME) was recommended for voluntary use by the European Commission. While the use of this standard is not mandatory, the Commission believes that its use may be beneficial for SMEs, particularly those who are in the value chain of companies who report- or will report - under the CSRD. UK Sustainability Reporting Standards Over the Summer the UK government launched three separate consultations which aim to develop the sustainability reporting framework in the UK. These consultations address the following; UK Sustainability Reporting Standards Assurance of sustainability reporting Climate-related transition plan requirements European Union (Corporate Sustainability Reporting) Regulations 2025 In July, the Minister for Enterprise, Tourism and Employment signed into law Statutory Instrument S.I. No. 309/2025 - European Union (Corporate Sustainability Reporting) Regulations 2025. The purpose of this Statutory Instrument (S.I.) is to transpose the ‘stop the clock’ EU Directive into Irish law and to amend the anomalies that were present in previous S.I.s relating to the transposition of the Corporate Sustainability Reporting Directive (CSRD) in Ireland. For more information on this please refer to our news item. Reports issued in July/August 2025 IAASA has published its 2024 Annual Report.   The Corporate Enforcement Authority (CEA) has published its Annual Report for 2024. A new report has been published showing the progress made on the recommendations from the Independent Review of Charity Regulation in Northern Ireland. The Charities Regulator has published its 2024 annual report. The UK Companies House has issued its annual business plan which outlines their priority commitments for the year ahead. The Competition and Consumer Protection Commission’s (CCPC) Annual Report for 2024 was published in July 2025. Anti-Money Laundering & Sanctions Chartered Accountants Ireland has introduced an Annual Return for those firms supervised for AML purposes pursuant to the Anti-Money Laundering Supervision Regulations - TCSPs and Bookkeepers. Readers can find out more by clicking to read a news item on the new Annual Return from our colleagues in Professional Standards. AMLA, the EU’s new Authority for Anti-Money Laundering and Countering the Financing of Terrorism has published its Annual Work Programme (AWP) for 2025. The Europe Banking Authority (EBA) published its 2025 Opinion on money laundering and terrorist financing (ML/TF) risks affecting the EU’s financial sector in July 2025. Click link for the full EBA report. On July 30, 2025, HM Treasury in the UK issued a consultation response on improving the effectiveness of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs). The response contains a summary of the UK Government’s feedback and next steps setting out the areas where it intends to make changes to the MLRs. Readers can access the consultation response on MLRs here. In Sept 2025 the UK Government issued a draft statutory instrument (SI) and policy note on the proposed amendments to the MLRs. It seeks review of the practical operability, clarity, and effectiveness of the SI and welcomes feedback on errors, ambiguities, or unintended consequences by 30 September 2025. In sanctions news, on 18 July 2025 the EU adopted its 18th package of sanctions against Russia. In August 2025 the EU Sanctions Helpdesk issued a guide on ownership and control. It details the rules about a Listed Person owning or controlling an entity, what ‘ownership’ of an entity and ‘control’ of an entity means and there is also some discussion of firewalls about which see more on our Technical Hub sanctions pages. Central Bank of Ireland (CBI) The Central Bank of Ireland updated and republished the Cross Industry Guidance on Operational Resilience in July 2025. The guidance is updated to align with the Digital Operational Resilience Regulation and Directive (DORA). Click link for the Guidance document. Credit Union Lending Regulation Changes The CBI announced planned targeted changes to credit union lending regulations on 14 August 2025. This will allow the sector increased scope to provide house and business lending to members following changes in lending limits. The announcement of these changes came about following an evidence-based review and public consultation process regarding proposed changes to the lending regulations for credit unions set out in Part 4 of the Credit Union Act 1997 (Regulatory Requirements) Regulations 2016. In addition, the CBI consulted with the Minister for Finance and various stakeholders including the Credit Union Advisory Committee (CUAC) and credit union bodies regarding the draft amending regulations. The final changes to these lending regulations will come into effect on 30 September 2025. CBI AML/CFT Sector Specific Risk Evaluation Questionnaires The CBI is adapting its supervisory approach for AML/CFT risk in the context of Financial Action Task Force (FATF) standards, the new EU AML Framework, and future data requests from the EU Anti-Money Laundering Authority (AMLA). This is resulting in a phased implementation of sector specific AML/CFT Risk Evaluation Questionnaires (‘REQs’), which was recently announced by the CBI. Initial implementation will apply to credit, payment, and electronic money institutions. Revised REQ templates have been published for these sectors. The REQ reporting requirements apply to Regulated Financial Service Providers (RFSPs), which are subject to supervision by the CBI. This change is being highlighted for Institute members who work in RFSPs. News on the Charities sector Click for the press release on the Charities Regulators 2024 Report. The report includes details on statutory investigations and actions and the new tool to shine light on compliance status for charities. The Charities Regulator recently issued their third e-zine for 2025 It includes details of publication of their new Statement of Strategy 2024-2027. The Strategy outlines the Regulator’s Strategic Objectives and Indicators being the regulatory approach, the Register, Stakeholder Engagement and Organisational Capability. Other interesting items in the e -zine include how to carry out a board appraisal and dates are confirmed for Charity Trustees’ Week 2025 which is from Monday, 10 November to Friday 14 November 2025. A recently published article from the Charity Commission for Northern Ireland highlights some reflections from the Charity SORP-making body on the responses it received from the recent consultation on the proposed amendments to the Charity SORP. While the final version of the SORP is not yet available, the article sets out some of the feedback received from the almost 150 responses to the consultation. New or proposed legislation Minister Burke has announced the commencement of Section 22 of the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024.  This provision relates to a change to the current audit exemption regime, whereby small and micro sized companies will not, in future, automatically lose the privilege of audit exemption on a first occasion, in a five-year period, of late filing of an annual return with the Companies Registration Office.  Please see the press release here. The UK Government has passed the Protection and Disclosure of Personal Information (Amendment) Regulations 2025 which extends the types of personal information an individual can request that Companies House makes unavailable (including signature, date of birth, residential address) on the public register. The UK Parliament published a draft of the Companies (Directors’ Report) (Payment Reporting) Regulations 2025 (“Regulations”). It has also published a draft explanatory memorandum. The purpose of the draft Regulations is stated to be to make changes to reporting requirements to require large companies to report information about their payment practices and performance within directors’ reports. Click for an Institute news item with further information. Artificial Intelligence & Cyber The EU Agency for Cybersecurity (ENISA) published guidance on the skills and roles for the cybersecurity professionals needed to meet NIS2 legal requirements.  Click link for the Guidance document. The Joint Committee on Artificial Intelligence established by the Oireachtas held its first public meeting in June 2025. IBEC have recently launched their new AI Hub as part of their campaign to reinforce their role as a trusted partner to policymakers, influencers, regulators, and members on their AI journey. Other News   The Companies Registration Office has recommenced the involuntary strike-off process in mid-August 2025. Approximately 35,000 companies are facing involuntary strike-off due to a failure to file annual returns. The backlog is because the process was paused during Covid-19 and was again paused in 2024. It will take some time to work through the backlog, but companies with the most annual returns outstanding will be dealt with in the first instance. The Housing Agency is holding evening information meetings around the country for stakeholders, including residents, owners, and directors of Owner Management Companies (OMCs).  The meetings will take place in Carrick on Shannon, Galway, Dublin, Limerick and Cork. They will cover challenges faced by OMCs and managed estates, roles and responsibilities and resources available. The case of Downtul Limited (in liquidation) contains an extensive examination of the grounds for restricting a director under section 819 of Companies Act 2014. Click here to read the Institute’s recent news item on the Starbucks case. The respondents were found to have discharged the burden of showing they acted honestly but because they had not acted responsibly this was enough to trigger the operation of the restriction provisions. The directors were restricted for 5 years. The Institute made a representation to the Department of Public Expenditure, Infrastructure, Public Service and Digitalisation to raise concerns expressed by members regarding the Statement on Internal Control (SIC) – a key requirement under the Code of Practice for the Governance of State Bodies. IAASA has issued its Work Programme draft 2026-2028.  While the date for response to the consultation has passed readers may still find the draft programme of interest. Readers may find interesting the Irish Revenue Commissioners e brief on Taxation of Partnerships dated July 2025. In addition to providing guidance on the taxation of partnerships, it describes the background to partnerships, the 3 types of partnership available under Irish law, the main types of partners and gives some information on joint and several liability. The Pensions Authority Supervision of pensions 2025 – 2029 conference will be held on Wednesday 17 September 2025 in the Round Room at the Mansion House, Dublin 2. It issued the Pensions Authority statement of strategy 2025 to 2029 in July 2025. Readers can find out more details and about the objectives in the press release issued on 10 July 2025.     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.

In Irish news this week, the Institute, under the auspices of the CCAB-I, met with Minister Donohoe to discuss the CCAB-I’s Pre-Budget 2026 submission, Revenue has published new guidance on the domestic layer of the EU VAT SME scheme, and the Pillar Two registration facility and hub are now active. In UK news, read our latest update on Making Tax Digital for income tax and we’d like to hear your views on three technical consultations on draft legislation. Irish 1. Read about the recent meeting with Minister Donohoe to discuss the CCAB-I’s Pre-Budget 2026 submission. 2. Revenue has issued guidance on the domestic element of the EU VAT SME scheme. 3. Revenue has launched a dedicated Pillar Two hub and the registration portal for Pillar Two in scope companies is now active. UK 4. Read our update on the latest developments in Making Tax Digital for income tax which includes details of two CPD webinars this month, each with a different focus, and news of a new HMRC agent outreach campaign. 5. We’re seeking your feedback on three consultations launched on L Day in July, two of which are of particular significance to tax agents. 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. You can also read this week’s post EU exit corner here.