In this week’s detailed miscellaneous updates, all of which you can read more about below, HMRC has recently reduced its interest rates for late and overpayments of taxes and duties, and a detailed update has been sent on winter fuel payments which confirms that the deadline for opting out of receiving this is in two weeks’ time on 15 September 2025. In the latest HMRC Agent Update, you can read about a wide range of areas, and, in July, HMRC began trialling the withdrawal of certain corporation tax reminder letters. In other news this week: The most recent HMRC Stakeholder Digests of 31 July 2025 and 26 August 2025 are available. Noteworthy in the July edition is the publication of HMRC’s 2024/25 annual accounts, and HMRC are holding the following webinars for employers in the next few weeks: payroll for directors: 2 September 2025, and changes to overseas workday relief: 16 September 2025. New HMRC interest rates HMRC’s interest rates on underpaid and overpaid taxes and duties were recently reduced after the Bank of England base rate was cut by 0.25 percent to 4 percent last month. HMRC has now updated its associated guidance which confirms that the new rates are 8 percent for late payment interest and 3 percent for repayment interest. The new rates took effect from the following dates: 18 August 2025 for corporation tax quarterly instalment payments, and 27 August 2025 for other payments of tax and duties. Winter fuel update The new winter fuel payment policy will apply from winter 2025/26. The Social Fund Winter Fuel Payment Regulations 2025 were laid before Parliament last month and come into force on 15 September 2025, the first day of the winter fuel payment qualifying week in 2025/26. These regulations revoke the 2024 regulations and restore winter fuel payments to all pensioner households in England and Wales from winter 2025/26. The rules in Northern Ireland are set out here and work in a similar manner. As previously announced, payments made to pensioners who are not in receipt of pension credit or another relevant means-tested benefit, and who have an annual income over £35,000, will be recovered by HMRC via the tax system. The provisions to achieve this are separate and will form part of the Finance Bill to be introduced after the next Budget, the date for which we expect to be announced in the next two weeks before the current parliamentary sitting goes into recess for conference season. Together, the regulations and the provisions in the Finance Bill will form the legislative basis for means testing the winter fuel payment. For pensioners in Pay As You Earn, HMRC will automatically collect the payment through a change to their tax code, unless they already file a Self-Assessment (SA) tax return. Changing the tax code will mean their winter fuel payment will be deducted from their income and paid to HMRC in monthly instalments across 2026/27, starting in April 2026. If they file a SA return online, HMRC will instead automatically include the payment on their SA return as part of their income, starting in 2025/26. If they file a paper SA, the individual will need to include the payment on their return themselves. There is no impact on 2024/25 returns. Pensioners who do not wish to receive a winter fuel payment can opt out of receiving an automatic payment. By opting out, those with an annual income over £35,000 will avoid having their payment recovered in full via the tax system at a later date. Opting out can be done by: completing an online form: https://submit.forms.service.gov.uk/form/7964/opt-out-of-winter-fuel-payment/29643, or calling the Winter Fuel Payment Centre helpline on 0800 731 0160. Those that wish to do so should opt out before 15 September 2025 to ensure that the opt-out can be processed in time before payments are made. Anyone who does not opt out before 15 September will automatically receive the payment. People who have opted out may choose to opt back in via the helpline. For the 2025/26 winter period, the final date for opting back in is 31 March 2026. The Government is aware of a winter fuel payment text scam and asks anyone who has received this to report it to Action Fraud on 0300 123 2040. For more information on phishing and scams, go to www.gov.uk/report-suspicious-emails-websites-phishing. HMRC also has reporting routes for tax specific scams. HMRC will never contact anyone by text to claim winter fuel payments or to request personal information. If someone is unsure about a text claiming to be from HMRC, the advice is to forward this to 60599. Emails should be sent to phishing@hmrc.gov.uk. Tax scam phone calls should be reported on GOV.UK via www.gov.uk/find-hmrc-contacts/report-suspicious-hmrc-emails-texts-social-media-accounts-and-phone-calls. Latest Agent Update Agent Update: Issue 134 is available now. Get the latest guidance and information on: Finance Bill‌‌‌ 2025/26‌‌‌, Time to Pay for Simple Assessment debts, An update on using Import Control System 2 for goods movements by road or rail from Great Britain to Northern Ireland, Changes to overseas workday relief, and VAT registration: the effective date of registration. HMRC trial withdrawal of corporation tax letters In July 2025, HMRC began a new trial which means certain corporation tax (CT) return and payment reminder letters are no longer being sent to approximately 5 percent of companies with authorised agents. The affected reminder letters are the CT208 PR1 and CT208 PR2. The Institute has been discussing this with HMRC and has flagged the particular impact this is likely to have to have on busy season for CT, in particular for filing 31 December CT returns and 31 December and 31 March CT payment deadlines. We are also concerned with the impact that this will have on newly trading companies as often the correct first accounting period of trading is not reflected in HMRC’s records. Members are welcome to contact us to discuss the impact of this trial by emailing tax@charteredaccountants.ie. To be able to monitor the impact of this on CT debt, the trial will end in December 2025. However, HMRC has advised that if there is a substantial increase in CT debt during the trial period, it will be halted completely. Other statutory CT letters, including the Notice to file a Company Tax Return, will continue as normal. All new companies will also continue to receive information on CT filing and CT payment. HMRC are also trialling the removal of paper copies of other non-statutory CT letters. From June 2025, the following letters are no longer sent automatically: CT205/A return reminders for companies and agents, CT207 interest statement, CT209 payment receipt, CT603A agent list of issued notices to deliver Company Tax return, and CT608 instalment payment reminder. HMRC has advised that information on the ongoing trial was previously communicated in the following publications:  May Agent Update, June Employer Bulletin, and May Stakeholder Digest.

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. HMRC has also sent an updated list of ICS2 ‘stop-words’ that when used in isolation in the goods description will cause entry summary declarations to be rejected and the shipment being placed on hold or prevented from entering Northern Ireland or the EU. ICS2 ‘stop-words’ Import Control System 2 (ICS2) is an advance cargo information system designed to improve security in the international transportation of goods. All Economic Operators that bring goods to or transit through the EU must declare safety and security data via ICS2, through the entry summary declaration. A list of stop-words has previously been publicly available, however the EU has recently updated this list. Miscellaneous guidance updates and publications This week’s miscellaneous guidance updates and publications are as follows: Analytical methods for determining the fat, starch and protein content (Tariff notice 16), Stuffed pastry (samosa)(Tariff notice 15), Maritime ports and wharves location codes for Data Element 5/23 of the Customs Declaration Service, Search the register of customs agents and express operators, Moving processed or repaired goods into free circulation or re-exporting them, Appendix 23 Exports: Declaration Category Data Sets, Notice to exporters 2025/18: compound settlement for breaches of export control, Appendix 24: Declaration Category Data Set, and Notices made under the Taxation (Cross-border Trade) Act 2018.  

Revenue is seeking tax agent feedback as part of its plans to update the Revenue Online Service (ROS) to better support end-users. In the initial phase Revenue will focus on enhancing the main dashboard, core navigation, and header functions within ROS. Updates to individual Revenue applications will continue separately and are not part of this phase. Tax agent feedback can be provided to Revenue by completing the short survey to better understand how ROS fits with the daily workflow of tax agents.

On Wednesday, we had the opportunity to meet with Minister for Finance, Paschal Donohoe, and his officials to discuss the CCAB-I’s Pre-Budget 2026 submission. Our conversation focused on several key areas critical to Ireland’s competitiveness and business environment. We highlighted the work to date through the Tax Administration Liaison Committee and the Business Tax Stakeholder Forum on tax simplification, as well as the importance of tax certainty for businesses. We also highlighted the critical need for investment in infrastructure such as housing and childcare.   In terms of the specific tax measures we raised with the Minister, we discussed the following: Enhanced reporting requirements for employers – we highlighted the operational challenges of real-time reporting of in-scope tax free benefits and expenses, recommending periodic returns on either a monthly or quarterly basis. Special Assignee Relief Programme (SARP) – We stressed the importance of SARP in attracting global talent and called for its expansion to include SMEs and benchmarking our relief against comparable regimes in other jurisdictions. Participation Exemption for certain foreign dividends – While welcoming recent progress, we advocated for further enhancements, including completing work on a corresponding foreign branch exemption. Minister Donohoe reaffirmed the Government’s commitment to certainty and stability, which are essential for fostering a thriving business environment for both domestic and international businesses. We look forward to continued engagement to ensure Ireland remains a best-in-class location for business.

On 27 August, the Ulster Society ran a webinar covering the tax issues around property ownership with Patrick O'Brien, in partnership with Croner-i. This webinar covered: Should you own property personally or through a company? Incorporating a property portfolio CGT deferring the gain – definition of business Tax implications of transferring ownership between spouses/civil partnerships What are the allowable expenses and documentation? Finance Charges and interest relief restrictions Furnished Holiday Lettings A recording of this webinar is available to view HERE A pdf copy of Patrick's slides is available to view HERE

    In this week’s Sustainability/ESG Bulletin read about a survey on the potential impacts of the US rollback of ESG regulations within Irish organisations, a landmark international investment in Ireland’s peatlands, the publication of Ireland’s first Sustainable Aviation Fuel Policy Roadmap, and the suspension of activities by the Net-Zero Banking Alliance. Also covered is new research quantifying the health impact of fossil-fuel pollution, and warnings from UN agencies about rising heat stress risks for workers, as well as the usual articles, resources and upcoming events.   IRELAND ESG momentum expected to accelerate despite regulatory shifts A survey carried out by the Compliance Institute, Ireland’s professional body for compliance professionals has found that 71 percent of financial services organisations in Ireland believe that the US rollback of ESG regulations will impact compliance within Irish organisations to varying degrees. However, Michael Kavanagh, CEO of the Compliance Institute has reportedly stated that the broader trend toward tougher sustainability expectations will only accelerate. The survey, which gathered insights from approximately 110 compliance experts working in financial services firms nationwide, also found that while more than half expect the impact to be ‘moderate’, a further 20 percent it will be “significant” and are anticipating major shifts in compliance expectations.   Landmark international investment in Ireland’s peatland In a what is being described as a landmark international investment in Ireland’s peatlands, global technology companies Meta, Microsoft, and Google have pledged more than €3 million to restore up to 450 hectares of degraded peatlands across Ireland. Peatlands, sometimes called Ireland’s ‘hidden giants’, store more carbon than all other vegetation types combined, filtering and regulating our water, and providing unique habitats for wildlife. When degraded, however, they become major emitters of greenhouse gases, making restoring them one of the most cost-effective ways to fight climate change while improving water quality and protecting biodiversity. The investment is backed by third-party verification under the Irish Peatland Standard, developed with the support of the European Investment Bank, NPWS, DAFM, DCEE, and partners across research and conservation. As well as providing long-term climate, water, and biodiversity benefits, the investment will also create additional benefits for local communities, including improved water quality and more resilient landscapes.   Ireland’s first Sustainable Aviation Fuel Policy Roadmap publishes Minister for Transport Darragh O’Brien has published Ireland’s first Sustainable Aviation Fuel (SAF) Policy Roadmap, as committed to under the Programme for Government. Sustainable Aviation Fuels (SAFs) are ‘drop in fuels’, blended with Conventional Aviation Fuel, and are compatible with existing aircraft and infrastructure. Their development and deployment will play a crucial role in helping Ireland reach its decarbonisation goals, and enable Ireland’s aviation industry to operate and develop in a sustainable manner. The Roadmap represents a first step in developing Ireland’s national SAF policy, identifying a number of actions which will be built upon in future iterations, and setting a path for future SAF policy development.   NORTHERN IRELAND/UK Annual award for UN Sustainable Development Goals-aligned project opens Businesses with a ready-to-scale project that can make a tangible impact in solving a major environmental challenge can now apply to the recently 2025 St Andrews Prize for the Environment. This annual award, which recognises outstanding projects addressing global environmental challenges, presents a significant opportunity for businesses committed to environmental sustainability to gain recognition and financial support to scale their impact. The winner will receive prize money of $95,000 (US dollars) and the runners-up will receive $20,000. Projects should align with the UN Sustainable Development Goals and should provide opportunities for learning and inspiration – both by educating those working in the field and by motivating the next generation of environmental leaders. The closing date for entries is midday on Monday 15 September.   EUROPE Landmark decision against greenwashing In a landmark decision against greenwashing, a German court has reportedly ruled that Apple can no longer advertise its Apple Watch as a ‘CO2-neutral product’ in Germany. The court ruled that the company’s carbon offset project of planting eucalyptus trees in Paraguay is unreliable and ecologically flawed, and that the company had misled consumers. The ruling signals a stricter regulatory climate where unverifiable offset use becomes a direct legal and reputational liability.   WORLD World’s largest climate coalition for banks pauses ongoing activities The Net-Zero Banking Alliance, once the world’s largest climate coalition for banks, has paused its ongoing activities and proposed dissolving its current structure after losing members globally. Once backed by major banks committed to net-zero emissions by 2050, the group is now nearly absent in North America and declining in Japan, Australia, and Europe. Remaining members are being asked to vote on its future with the outcome of the vote to be shared at the end of September. Critics say the alliance failed to challenge banks’ fossil fuel-driven business models, although some commentators have stated that such alliances play a vital role in promoting financial stability in the face of climate risk, advancing good practices in green finance, and accelerating an orderly transition.   New research quantifies health impact of fossil-fuel pollution New research carried out by University College London and the Stockholm Environment Institute (SEI) has been the first to comprehensively quantify the health impacts of outdoor air pollution across all stages of the US oil and gas lifecycle, from extraction to end-use (cars, power plants), as well as to analyse the associated racial and ethnic disparities in exposure and health burden. In addition, the researchers found that 10,350 pre-term births and 216,000 new cases of childhood asthma per year were attributable to oil and gas air pollution, as well as 1,610 lifetime cancers across the US.   UN agencies warn of rising heat stress risks for workers worldwide The World Health Organization (WHO) and World Meteorological Organization (WMO) have warned that extreme heat is fast becoming one of the biggest threats to workers’ health and livelihoods. Findings a report detailing how extreme heat is reshaping the world of work, include that worker productivity drops by 2 to 3 per cent for every degree above 20°C.  Commenting, Ko Barrett, WMO Deputy Secretary-General, said that “Occupational heat stress has become a global societal challenge, which is no longer confined to countries located close to the equator – as highlighted by the recent heatwave in Europe…Protection of workers from extreme heat is not just a health imperative but an economic necessity.” Resources from Chartered Accountants Ireland SMEs and Small/Medium Practices Sustainability Workshop (ROI/NI) Chartered Accountants Ireland is delighted to announce it is once again running its sustainability workshop for small/medium enterprises (SMEs) and accounting practices. This interactive half-day session will focus on positive actions you can take to make your business or practice more sustainable, and help your clients to do the same. Aimed at SME owner-managers and accountants in small/medium practices, and consultants, the webinar will cover sustainability basics, green public procurement, access to sustainable finance, how to make your business or practice more sustainable to save costs and respond to stakeholder demands, and grant funding available to SMEs. The workshop will be delivered via Zoom on 12 September from 09.30- 12.30. Full details, including the booking page and CPD hours, are on the Chartered Accountants Ireland CPD calendar. Sustainability-focused specialist qualifications Chartered Accountants Ireland has launched its Autumn/Winter programme offering, which includes sustainability-focused Specialist Qualifications: Diploma in Sustainability Reporting (Starting 25 September) Diploma in Auditing and Assuring Sustainability Reporting (Starting 25 September) Certificate in Sustainability Strategy, Risk and Reporting (Starting 7 October) Did you know? There has been an energy revolution in Pakistan with a significant upsurge in people installing solar panels, with solar imports reportedly tripling in 2024. The boom has reportedly resulted partly from an overabundance of solar panels availablefrom China, which has been increasing its production of solar technology, and, according to climate activist Bill McKibben, “a cascade of TikTok videos with … all of DIY pioneers showing how to hook the gear together”.  Separately experiments put solar panels between train tracks are underway in India, where the solar industry is forecast to become second in size only to China’s by the mid-2030s. In the UK, solar power generation in Britain has already surpassed the total for 2024 according to the Financial Times which has reported that more than 14 terawatt hours of electricity have been produced as of 16 August. Articles Irish-owned firms trailing ISEQ20 gender balance, B4BB report finds (Irish Examiner) City AM: Female CFOs generate greater returns for investors (City AM) Central Bank ‘determined’ to back climate action even as EU watchdog hits brake on ESG rules (Business Post) Over 11,000 companies set science-based climate targets (Sustainable Views  - Sub needed) EU wildfires worst on record as burning season continues (The Guardian) Don’t let Donald Trump undermine your faith in the climate fight (The Guardian) From Kyiv to the Suwałki Gap, bogs return as Europe’s defensive shield - Restoring the EU’s drained bogs would stop both Russian tanks and planet-warming pollution (Politico.ie) California disclosure law will serve as a catalyst for corporate reflection and action (Sustainable views – sub needed) Temperature Neutrality vs. Climate Neutrality: Unravelling the Academic Debate In Ireland  (All Ireland Sustainability) Global plastics treaty talks collapse, and other nature and climate news (World Economic Forum) Events Business in the Community, Accredited carbon literacy training This Accredited Carbon Literacy Training session event is hosted by Business in the Community Northern Ireland, and aims to equip participants with the knowledge and skills to understand and act on climate change, helping organizations reduce their carbon footprint. The training is certified and designed to support sustainability leadership across sectors.  In person, Wednesday, 3 September 9:00 - 17:00, Craigavon Civic Centre, 66 Lakeview Rd, Craigavon BT64 1AL   ICAEW, Sustainability in Practice A morning of expert-led discussion, practical exercises, and peer learning—all focused on helping you build and deliver impactful sustainability services. In person, 3 September, 8.30-12.00, Chartered Accountant Hall, Moorgate Place, London, EC2R6EA   UN Global Compact Network, EU Sustainability Navigator Session 3 - Business Action Amid Uncertainty: EU Sustainability Insights During this session, sustainability experts will explore the latest EU policy shifts — clarifying common misinterpretations, outlining ways to ensure corporate action, impact and ambition remain high, and placing these debates within the wider global sustainability landscape. Join us to hear the latest on ongoing negotiations, to explore how EU sustainability policy discussions align with and respond to wider global political and economic shifts and how companies can lead, engage, and stay ahead in a fast-evolving policy landscape. Virtual, Thursday 4 September at 15:00   UN Global Compact, UN Women, Women's Empowerment Principles 101 Hosted by the UN Global Compact and in collaboration with UN Women, this webinar will provide an overview of the Women’s Empowerment Principles (WEPs) and how the WEPs provide a strong framework for companies to advance gender equality in the workplace, marketplace and community. Speakers will also provide practical guidance for implementation and insights into the benefits of advancing gender equality in business practices. Participants will have the opportunity to engage with experts and learn best practices to support women’s empowerment initiatives within their organizations. Virtual, Wednesday 10 September at 14.00   Carbon Tracker, Awaiting Take-Off: Why Aviation’s Net Zero Plan Still Doesn’t Fly Despite growing adoption of sustainable aviation fuels (SAF), the sector remains off-track for Paris alignment—under-investing in zero-emission aircraft (ZEA) and relying on technologies with questionable scalability. Hear from leading voices in policy, finance, and industry, including* Lord Deben, ZeroAvia, Columbia Threadneedle, and Systemiq. Virtual, Friday 12 September at 14.00-15.00     UN Global Compact (Swiss Network) Managing Risks in Supply Chains: Does High Quality Equal Compliance? The case of surgical goods made by children This is the third and last session of our three-part webinar series on 'Managing Risks in Supply Chains: A Series for Data-Driven Action'. This last session focuses on the case of surgical goods made by children. Are high-quality goods more likely to be produced in high-quality facilities? The value chain of surgical instruments proves otherwise. Children can be found grinding "Made in Germany" scalpels in informal sector workshops in Pakistan. Worse, this situation has been repeatedly exposed over three decades. What can companies learn from this case and how can public and private procurement and sourcing professionals avoid similar risks?  Webinar, 18 September 2025 | 12:30-14:00   Dublin Chamber, Sustainability Academy Workshops This autumn, for the first time, all Sustainability Academy workshops will take place in person at Dublin Chamber, 7 Clare Street, Dublin 2. Dublin Chamber is offering a special rate of €420 for those who register for the full series of five workshops (normally €495). This includes a free one-hour tailored advisory consultation with a sustainability expert from Goodbody Clearstream. Whether you're new to sustainability or looking to build on existing knowledge, this series provides a structured way to learn what matters and apply it in your role. Venue: Dublin Chamber, 7 Clare Street, Dublin 2 Sustainability 101 – ESG in Practice, Thursday 25 September, 9am-1pm Environmental Strategy Bootcamp – Carbon Footprint & Decarbonisation, Wednesday 8 October, 9am -1pm Strategic Sustainability Leadership, Wednesday 5 November, 9am -1pm Sustainable Business Practices – Strengthening Customer Connections, Wednesday 26 November, Time: 9am -1pm Internal Sustainability Integration – Building a Sustainable Workplace Culture, Thursday 4 December, Time: 9am -1pm   Climate Cocktail Club, Climate Carnival Blending business, innovation, finance, music, activism and science for bold brave leadership, this pioneering two-day event for changemakers aims to inspire, entertain and explore radical and creative solutions to drive planetary impact now. In person, 29 – 30 Sept | Ballintubbert House, Ballintubbert House, Stradbally, Co. Laois, R14 E954.   Diversity Mark, Diversity Mark Annual Summit 2025 This event will explore how diversity and inclusion can drive sustainable business growth, gathering over 300 business leaders, executives, and inclusion advocates for a full-day programme featuring keynote speakers and breakout sessions. It aims to equip attendees with practical strategies to create more inclusive workplaces and foster meaningful change across sectors. In person, 8 October 2025, Titanic Belfast   An Taisce, Climate Action Week Climate Action Week is Ireland’s largest pop-up climate festival, and has been coordinated by An Taisce since 2017. On behalf of the Department of Climate, Energy and Environment the 9th festival will bring nationwide spaces that champion local planet protectors and welcome solution seekers to events that tackle the climate crisis in exciting and empowering ways. 13 – 19 October 2025 Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.  

From the Professional Accountancy team A new service, the EU Sanctions Helpdesk was established in  March 2025. The service is funded by the European Union and will support European SMEs in complying with sanctions. In August 2025 the helpdesk published a new guide on ownership and control in EU sanctions compliance .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 .   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.  

Retirement is one of the biggest transitional periods than anyone can go through with almost every aspect of our life changing. Suddenly you are met with a massive shift in your pace of lifestyle. While many of us may embrace the change, retirement can be a time of great upheaval physically and emotionally.  With this in mind, it is important to plan and prepare for the change ahead as you embark on this transitional life stage.  A long and fulfilling retirement isn’t just about a pension plan, it also about planning for your lifestyle shift. Without a plan in place, the initial novelty of retirement can wear off pretty quickly, leaving you to struggle to adapt to your new way of life.  Routine & schedule Adjusting to retired life is not something that happens overnight, and it may take a while to adapt. So do try to remember that like any big change in life, it'll take time for you to become accustomed to what comes with retirement. When working we have an imposed schedule and structure but once the 9 to 5 comes to an end, it can be incredibly difficult to fill all the extra hours you now have at your disposal. Across all stages in life, structure and routine are key habits that lead to good wellbeing. It may be tempting to fill your days with laze and leisure which is novel and exciting at first, but feelings of boredom or restlessness can creep in especially if you have been used to a busy schedule. You may want to define some specific routines to maintain order, predictability, and structure. In the run up to your retirement, take some time to consider what your day, week or month will look like. Stay active Staying active through exercise will help keep you healthy both physically and mentally and prolong your life. But it is also important to keep your mind active too. Ongoing learning can help keep you mentally sharp by getting you in the habit of staying mentally active. Having less structured days allows you to take up a new hobby or learn skills and feeds into the need for routine and schedule. Retirement is a great time to discover old and new passions that you felt you didn’t have the time for before.  Taking up a course or classes in your local college, learning to play an instrument, or another meaningful activity that you can enjoy and engage with can keep you mentally fit. The mantra ‘use it or lose it’ most definitely applies here! Connection As we transition from the workforce, our social circle can diminish due to our daily interactions reducing, and unfortunately loneliness becomes more common as we get older. Loneliness has a detrimental impact on our health and wellbeing and may significantly increase the chances of poor health. Research found that older adults with a good social life tend to live longer than those who are more isolated and happier retirees were found to have more social interactions. So, whether you are married or single, an introvert or an extrovert, maintaining strong social connections is critical. It is important to keep in contact with friends and connect with your work circle as much as possible. Certain activities can also present opportunities for you to meet new friends or other retirees with similar interests. Taking a new class, joining a book club, participating in your local community centre, or joining an exercise group are just some of the many ways you can stay connected. There is also a wealth of benefits from spending time with grandchildren, it helps you to keep active, improves cognitive skills and can lower the risk of depression. Purpose For many, our sense of purpose can be wrap in what we do for living and measure our success only through our professional lives. Once we leave the workplace, there may be a need to find meaning to fill that void and reinvent your purpose in life. Outside of your profession, try and identify what gives your life meaning and purpose and makes you happy. Retirees have a unique insight and wisdom gained from a lifetime's worth of skills, expertise and competencies that could be of benefit elsewhere and this could mean using talents in service to others. Mentoring and volunteering are fulfilling paths for retirees. Retirees can gain meaningfulness and social and emotional benefits from mentoring and volunteering. But whatever you do in retirement it is important to see this time as an opportunity to live out the second half of your life purposefully. Thrive is the Institute's dedicated wellbeing service that provides a range of supports to members and students for life. If you are struggling to adjust to retirement, our in-house wellbeing team can help. 

Earlier this week, the Government published its Action Plan to Support Market Diversification. With Irish businesses facing the unprecedented trading challenges posed by US tariffs, the plan’s scope, with more than 100 actions, certainly reflects the scale of the task ahead and the need for a coordinated national response. The plan also signals a re-commitment of policy focus toward supporting indigenous enterprise, something this Institute is strongly in favour of. With two-thirds of our almost 40,000 members working in business, many are directly engaged with Ireland’s SMEs. While foreign direct investment continues to constitute a key part of Ireland’s economic mix, these home-grown businesses (particularly SMEs) form the backbone of the Irish economy. Ensuring they are equipped to diversify, innovate, and compete internationally should rightly now be a primary policy objective.   In this regard, the plan’s commitment to “deepen agency support for companies seeking to diversify their export markets” and “cultivate new market opportunities, both within the EU and globally” will be welcome news to aspirant businesses seeking to extend their reach beyond the domestic trading space. Moreover, the establishment of a new “Market Diversification and Resilience Fund” will provide targeted assistance to both indigenous and multinational businesses most impacted by the trade difficulties brought about by tariffs. By next year, a new Trade and Investment Strategy will be published which will reflect these new approaches and position Ireland globally for the challenges of the future. For the action plan to succeed meaningfully, supports must be designed with accessibility in mind. Chartered Accountants Ireland’s May 2025 SME Business Sentiment Survey conducted with GRID Finance highlighted how many SMEs find existing Government supports either too time- or resource-intensive to access, leading to lower than anticipated levels of uptake. While the breadth of supports is positive, further steps need to be taken to ensure that business reliefs are not overly complex or difficult to claim. Simplifying application processes and reducing administrative burdens will be key to ensuring that any new supports reach the businesses that need them most. The action plan also speaks to an intention to fast-track visa options to allow for quicker entries of skilled workers needed in high-demand sectors. Talent is a critical driver of competitiveness, and faster entry routes will be welcomed across many industries, including the accountancy profession. Chartered Accountants, already included on the Government’s Critical Skills List, are among the most in-demand professionals whose expertise will be essential to guiding businesses through the current uncertain landscape. Our research consistently shows that in times of economic uncertainty, Chartered Accountants are heavily relied upon to help businesses navigate crises. We fulfilled this important role as trusted business leaders during the Brexit transition, the COVID-19 pandemic, and more recently, during the cost-of-living crisis. Any new fast-track visa scheme should therefore reflect the importance of Chartered Accountants alongside other in-demand skills. Overall, this week’s announcement represents a positive, whole-of-Government approach toward safeguarding Ireland’s economic resilience. The challenge now is to ensure that ambition translates into action, and that the supports offered are not only comprehensive, but also genuinely accessible and impactful for the businesses that rely on them. We will continue to analyse the detail coming out of the action plan, keeping members informed of further developments and ensuring your interests are represented.

"Often called the 'second new year,' due to the significant shift in routine and the start of a new academic year. The new school term brings a fresh rhythm and renewed energy. It’s a natural opportunity to reset, embrace new routines, and cultivate positive wellbeing habits that can support you through the winter. Here, Chartered Accountants Ireland’s Intern, Sophie King, outlines how you can focus on wellbeing this coming autumn.   We all know taking care of ourselves is important, but between work, family and life, it’s not that easy. Wellbeing and self-care can seem like buzzwords, just thrown around to make things more appealing, but it is so important to look after ourselves and our mental health. Self-care is an essential aspect of maintaining overall wellbeing. By prioritising self-care, we can improve our mental and physical health, increase resilience, and enhance our quality of life. Check out the techniques below that could be your new favourite! Relaxation techniques Relaxation techniques are an effective way to reduce stress and anxiety. Deep breathing exercises and mindfulness meditation can help calm the mind and body. Progressive muscle relaxation is a relaxation method that is not often talked about, it is a technique that involves systematically tensing and then releasing different muscle groups in the body to promote relaxation. This method helps individuals become more aware of the difference between muscle tension and relaxation, ultimately reducing overall stress and anxiety. Have a go at this technique, all you have to do is tense and then slowly release each muscle group in your body, starting from your toes and working up to your head. These techniques can be practiced anywhere, at any time, making them a convenient addition to your daily routine. By incorporating relaxation techniques into your daily life, you can better manage stress and improve your overall wellbeing. Hobbies and Interests Engaging in hobbies and interests can bring a sense of purpose and enjoyment to your life. Whether it's painting, playing music, or gardening, making time for activities you love can help reduce stress and increase feelings of happiness. It can be easy to let ourselves get overwhelmed by work and life, but engaging in something that interests you can distract you from these stresses and recentre the mind. Don’t be discouraged if you try a new hobby and it does not go your way at first, perseverance is key! Learning new skills or improving your hobbies can grow your confidence and self-esteem. Hobbies and interests can also provide opportunities for social connection and personal growth, further enhancing your overall wellbeing. Unwinding with a Relaxing Bedtime Routine A consistent bedtime routine can help signal to your body that it's time to sleep, improving the quality of your rest. Activities like reading, taking a warm bath, or practicing gentle stretches can help calm your mind and body, preparing you for a restful night's sleep. By prioritising a relaxing bedtime routine, you can improve your sleep hygiene and wake up feeling refreshed and revitalized, because no one can be positive when they are tired, no matter how much coffee they consume. The Benefits of Gratitude Journaling Gratitude journaling is a powerful tool for cultivating a positive mindset. By reflecting on the things you are grateful for each day, you can shift your focus away from stress and anxiety and towards the good things in your life. This practice can help increase feelings of happiness and wellbeing and can even improve your relationships with others. To use it effectively, write down three things you are grateful for each day. This helps shift focus to positive aspects of your life. The Kindness Connection Engaging in acts of kindness can have a profound impact on both the giver and the receiver. Whether it's volunteering, donating to a good cause, or simply offering a kind word to someone in need, acts of kindness can increase feelings of empathy and compassion. Engaging in acts of kindness can release endorphins or “feel good hormones,” additionally, practising acts of kindness can increase your feelings of compassion and understanding towards others. By incorporating acts of kindness into your daily life, you can cultivate a sense of connection and community, further enhancing your overall wellbeing. It can be hard to get into this mindset, so start small, open the door for someone, or hold the elevator. The trick is to be consistent; in doing so you make it a habit, and it becomes part of your daily routine. When you get in the mindset, you will automatically look for opportunities to help others, whether it’s at work or at home. So, pay attention to the impact your kindness has on others and on yourself, it might just make your day. Prioritise your wellbeing By incorporating these self-care practices into your daily life, you can take a proactive approach to nurturing your mind, body, and soul. Whether it's relaxation techniques, hobbies and interests, a relaxing bedtime routine, gratitude journaling, or acts of kindness, there are countless ways to prioritise your wellbeing. By making self-care a priority, you can improve your overall quality of life and cultivate a deeper sense of happiness and fulfilment. This article was written by the Institute's DCU Intern, Sophie King, on behalf of Thrive. Sophie is currently studying Communications in DCU. In partnership with DCU's Access to the Workplace programme, the Institute hosted Sophie as part of its professional summer internship placements.  For more advice or information, contact the team by email at: thrive@charteredaccountants.ie  or by phone: (+353) 86 0243294. 

On 18 July 2025 the EU adopted its 18th package of sanctions against Russia. The European Council writes that the package focusses on five building blocks: cutting Russia's energy revenues, hitting Russia's banking sector, further weakening its military‑industrial complex, strengthening anti‑circumvention measures, and holding Russia accountable for its crimes against Ukrainian children and cultural heritage. The 18th package includes energy measures, financial measures ,trade measures Anti‑circumvention measures ,targeting Russia's military capabilities and supply chains ,Russia's accountability, measures to protect member states from arbitration and new measures against Belarus. You can read more details on the 18th Package on the European Council webpage (see link above which has links to the various legal acts to bring the 18th package into force. 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.      

Your mental wellbeing is about your thoughts and feelings and how you cope with the ups and downs of everyday life. It's not the same thing as mental health, although the two can influence each other. Long periods of low mental wellbeing can lead to the development of diagnosable mental health conditions such as anxiety or depression. If you're living with a mental health condition, you may experience low mental wellbeing more often, but there will also be long periods where you're able to maintain good mental wellbeing. What does good mental wellbeing look like? Importantly, good mental wellbeing is NOT the absence of negative thoughts and feelings. We all face difficult and challenging situations that cause us to feel angry, sad, overwhelmed and everything in-between. Instead, it's about being able to understand and manage those feelings, so that generally you're able to: feel confident in yourself build and maintain positive relationships have a sense of purpose live and work productively cope with the normal stresses of day-to-day life manage when things change What can affect your mental wellbeing? Our mental wellbeing is often affected by big life events that we have little or no control over such as bereavement, illness, or redundancy. In these situations, it's about how we respond - our behaviours and habits - that will determine the impact on our mental wellbeing. For example, do we tend to reach out for support or withdraw? Do we assume the worst or remain open to new opportunities? It's here that our level of resilience comes into play. Resilience is your ability to cope with change and adversity. By strengthening your resilience, you're better able to maintain good mental wellbeing through all of life's ups and downs. There are also factors that influence our mental wellbeing, which we can control. 1. Our relationships Strong connections with friends, family and colleagues help to strengthen our confidence and self-esteem. 2. Our physical health Through good nutrition and regular physical activity, we can boost our energy levels, improve our confidence, and relieve stress. Small changes make a big difference.  3. Our emotional health Practicing mindfulness can help you understand and manage strong emotions so that rather than feeling overwhelmed, you're able to approach difficult situations with a sense of calm and clarity. The big picture At Thrive, our vision is for all members of the chartered accountant community to live happy, healthy and fulfilled lives. The key to this is empowering you to take care of your own mental wellbeing. Because when you don't feel quite yourself, other areas of your life are affected too. Our services can help you balance all aspects of your wellbeing, so you can live the life you want to.  Article reproduced with the kind permission of CABA, the organisation providing lifelong support to ICAEW members and students.