HMRC’s latest schedule of webinars is now available for booking. Spaces are limited, so take a look now and save your place. If you have any questions, please send them to email HMRC prior to the webinar, including the title of the webinar in the ‘Subject’ line of your email. HMRC will answer as many questions as possible on the day. An overview of the new VAT late submission, late payment penalties and interest changes: register here This webinar will explain the new VAT penalties and VAT interest changes which will replace the VAT default surcharge for VAT accounting periods starting on or after 1‌‌‌ January‌‌‌ 2023. Changes to the VAT652 (Error correction notice form): register here This webinar will provide: an introduction to the digital VAT652 Error Correction Notice form; a walk-through of the online form; and how to complete and submit the form. When is software in a project considered R&D?: register here This webinar looks at the guidance in the Corporate Intangibles Research and Development manual, in particular the guidelines in CIRD 81900, and the mistakes that are often seen when companies attempt to align their projects to the requirements of the research and development scheme. The Trust Registration Service and reporting discrepancies: register here This webinar will cover: what is the Trust Registration Service; what is a trust, trustee and relevant person; the proof of registration document; and how to make a report and penalties for not complying. The Trust Registration Service and reporting discrepancies: register here This webinar will cover: what is the Trust Registration Service; what is a trust, trustee and relevant person; the proof of registration document; and how to make a report and penalties for not complying.

Do you use HMRC online services? Don’t be caught out by the planned downtime to some services. HMRC are warning about the non-availability of specific services on the HMRC website, a range of services are impacted. Check the relevant page for information on planned downtime.

Check out the latest items on the Agent Forum. Remember, in order to view each item, you must be signed up and logged in. All agents, who are a member of a professional body, are invited to join HMRC’s Agent Forum. This dedicated Agent Forum is hosted in a private area within the HMRC’s Online Taxpayer Forum. You can interact with other agents and HMRC experts to discuss topical issues and processes.

The Department of Finance has published the responses it has received to its recent public consultation on Pillar Two Minimum Tax Rate implementation, including the Institute’s own response, submitted under the auspices of the CCAB-I.

Revenue has published an updated Tax and Duty Manual for the Preparation of Accounts for Revenue Purposes, Treatment of Debtors, Creditors and Work-in-Progress in Professional Accounts. The updated guidance reflects relevant legislative references in the Taxes Consolidation Act 1997.

Following the update of the EU list of non-cooperative jurisdictions in October 2022, Revenue has updated the Tax and Duty Manual for Securitisation Regulation: notification of investment. The updated guidance provides further clarification on whether an investor is required to submit a Notification of Investment (NOI) in relation to certain investments and the deadline for submission of the NOI. Revenue has also provided additional examples. Appendix 1 of the manual has been updated to include the list of relevant Annex II jurisdictions for the period 3 March 2022 to 11 October 2022. The list of non-cooperative jurisdictions from 12 October 2022 onwards is available on the Revenue website.

Revenue has updated the Real Estate Investment Trusts (REITs) Tax and Duty Manual to clarify that Irish REITs may not rely on the application of the EU Parent/ Subsidiary Directive to exempt a distribution from DWT.

The Minister for Finance and President of the Eurogroup Paschal Donohoe has been unanimously re-elected for a second term as the President of the Eurogroup. In line with the usual practice for the President of the Eurogroup, Minister Donohoe was also elected as the Chair of the European Stability Mechanism (ESM) Board of Governors. Minister Donohoe will carry out his duties as President of the Eurogroup, as Minister for Public Expenditure and Reform, after the change in Government in mid-December 2022. The Minister for Finance will represent Ireland at Eurogroup meetings. Speaking after his re-election, Minister Donohoe said: “I am enormously privileged that my colleagues have entrusted me with a second term working on their behalf. My first priority, is to deliver tangible results from our policy coordination to allow us to overcome the challenges that we are facing, and to pursue the great opportunities that await the euro and the people of Europe.”  

Revenue will host a live webinar event on the Temporary Business Energy Support Scheme (TBESS) via Microsoft Teams at 11.00am on Wednesday, 14 December 2022. This webinar will provide an overview of the scheme, along with an explanation of the Registration and Claim process.  Revenue will also address questions submitted by participants. The webinar will be recorded and will be available to view on Revenue’s website.

Revenue has updated its guidance on the Temporary Business Energy Support Scheme (TBESS) to include additional information on how businesses can register and make a claim under the scheme. Businesses must register for the TBESS on Revenue’s Online Service (ROS) and have received tax clearance before a claim can be submitted. Businesses have been able to submit claims on ROS since 5 December 2022. Revenue has clarified that completion of the ‘Climate Toolkit 4 Business’ is not a legal requirement and has no impact on the assessment of a business’ eligibility for the TBESS. However, the Government encourages businesses to use the toolkit as a resource to help understand and reduce energy consumption and take other actions that can have a positive environmental impact. The updated guidance also includes the deemed reference unit prices for electricity and natural gas, which are to apply in circumstances where a business has not been issued with a bill for a reference period between September 2021 and February 2022.   In addition, the "Understanding your Bill" guidance note on Revenue’s website has been updated to include additional sample bills for a number of energy suppliers, illustrating where information can be found on an energy bill in order to register for the TBESS and submit a claim.

With Christmas party season back in full swing for the first time in a long time, employers should plan ahead to prevent unnecessary risks arising on the night, writes Gemma O’Connell With COVID-19 restrictions now consigned to the past, the office Christmas party promises to provide a long-awaited opportunity for your business to celebrate coming through the pandemic. As the party season returns with a bang, however, it is also a good time to remind staff that, although it is a celebration, the Christmas party is nevertheless a work event. Not doing so risks increasing the likelihood that one or more of your employees will act inappropriately once they are away from the professional environment of the workplace. At its worst, unprofessional employee behaviour can lead to devastating consequences for your business, so it is well worth taking steps to mitigate it. Here are some of the main risks you should be aware of and steps you can take to protect your organisation. Alcohol consumption The majority of people will likely enjoy a drink on a night out, so most employers like to show appreciation for their team members by covering the cost of a meal, a few rounds, or even the drinks bill for the whole night. Each business has its own unique culture, and it's important to do what's best for your team, but too much alcohol can cloud people's decision-making. The last thing you want is an alcohol-fuelled brawl breaking out, or allegations of harassment arising.   It is also a good idea to ensure that everyone has made arrangements to get home safely after the party. Harassment and vicarious liability When the Christmas party takes place off-site, employees may think that company policies on bullying, harassment and sexual harassment are less applicable, so it's a good idea to remind all staff that these policies apply every bit as much to work-related social events as they do in the office. Victims of harassment can sue their employers in circumstances where the employer has failed to take all reasonable steps to prevent harassment from occurring. A reminder that such conduct is unacceptable even when off-site plays a proactive part in protecting the organisation.   Health and safety considerations Although many businesses will choose a restaurant or other suitable venue, some employers may decide to host Christmas celebrations in the workplace. If you're planning a party on your premises, don't forget your health and safety obligations. Control measures to minimise the risk of slips and trips, fire hazards and safe access to your building should all be considered. Social media Many employees may be accustomed to sharing pictures or videos captured on a night out with their connections on social media. It is best to put in place a social media policy confirming that all staff must respect the privacy rights of their colleagues and uphold the company's reputation online. Post-party absences If employees have to be in the office the day after the party, you must communicate your expectations. Some employers may loosen the timekeeping rules for staff if the circumstances allow, but you have to clarify what will and will not be tolerated, such as no-shows or arriving at work intoxicated. Final Christmas Party tips While some rules will need to be followed by all staff, managers need to bear in mind a few additional extras. Be wary of putting people under too much pressure to attend the Christmas party. Not all staff enjoy large gatherings, so reassure everyone that there is no obligation to attend. Try to keep it as inclusive as possible. You may have vegetarians, vegans, and non-drinkers attending. Providing options for everyone will ensure that no one feels left out. It's no harm to ask one member of your management team to remain sober and to ask that person to deal with any incidents that may arise. Finally, have some fun! It's been a tough couple of years, and it's important for everyone to celebrate the wins. With the proper precautions in place, everyone should feel comfortable having a good time. Gemma O'Connor is Services and Operations Manager at Peninsula Group

With a new year comes new resolutions, but is it really necessary for leaders to adopt new practices? Anne Phillipson extols the virtues of tried and tested tools It's that time of year again. We reflect on the past 12 months, look ahead to the next calendar year with all its untold possibilities, and consider what changes we want to make. ‘Top 10’ lists have already started appearing, guiding us on everything from books to read, podcasts to listen to, and fashion trends to follow. Gyms will be gearing up for new membership intake in January, and the chocolate and biscuit aisles in the shops will be backfilled with workout gear and healthy living merchandise. While I am certainly not against making plans for professional improvement, I’m not convinced we need a list of 'new' leadership practices for 2023. That’s because the foundations of effective leadership remain constant: having a clear vision of the future that inspires your people to want to work hard; engaging your team by playing to individual strengths and organising the team to work well together; and delivering the results that matter for your business. Authentic leadership means that you know yourself, your strengths, and your values—and you can build a team around you to compensate for any gaps. A leader builds a reputation around what others can consistently expect from them, which ultimately builds trust. That's it. That's what leadership is all about. Where the requirement for change and flexibility comes is the ability to pay attention to external changes and then adapt your vision and focus accordingly. As market conditions change, an effective leader anticipates the knock-on effect on their business and responds proactively. Effective leaders question how their approach should adapt when the context changes. They always hold true to their values, however. Leaders should communicate even more in times of change, ensuring the team is informed, and spend more time listening to ensure that the team's questions and concerns are fully understood. No one knows what 2023 has in store for us. None of us anticipated that 2020 would bring a global pandemic that would dramatically change our working lives. Even when faced with unprecedented change, however, effective leaders worked through the ambiguity by responding to the evolving circumstances, engaging their teams, and re-aligning their business plans to adapt to the new environment. All of this built new leadership muscle to deal with a volatile, uncertain, complex and ambiguous world. Those muscles will serve leaders well as we face new challenges in 2023 – whether they relate to the ongoing war in Ukraine, the cost-of-living crisis, energy price fluctuations, or some as yet unknown mega trend. That old saying, 'the only constant is change', is true—but when it comes to leadership, there's really nothing new. Anne Phillipson is Director of People & Change Consulting at Grant Thornton