In this week’s Sustainability/ESG Bulletin read about a new guide on how accountants can integrate nature into their work, a report on costs facing Ireland for non-compliance with climate targets, the Climate and Environmental Expenditure for 2025 and sustainability in IDA Ireland’s new five-year strategy. Also covered is sustainability in Northern Ireland’s Programme for Government 2024-2027, the UK’s new National Biodiversity Strategy and Action Plan, Accountancy Europe’s analysis of the Omnibus proposal, the conclusion of COP16 in Rome, and the usual articles, resources and upcoming events.   Ireland news New guide for accountants on nature Chartered Accountants Ireland has welcomed the publication of a new guide on how accountants can integrate nature into their work. Why nature matters to accountants addresses the urgent need for accountants to understand and integrate nature-related issues into their work and highlights the financial impact of nature-related issues. It is relevant for accountants in any global region or jurisdiction, and in business and practice. Providing tailored guidance for board members, senior managers, analysts, report preparers, and external auditors, it will help accountants getting started with nature in these roles and for those further along their nature journey or maturity pathway. The guide was developed and prepared by ICAEW for the Global Accounting Alliance (GAA), of which Chartered Accountants Ireland is a member. It launched on World Wildlife Day, 3 March to emphasize the importance of reversing global nature loss to business resilience and economic prosperity. Ireland could face ‘staggering’ costs for non-compliance with climate targets A joint report from two Government advisory councils – the Irish Fiscal Advisory Council (IFAC) and the Climate Change Advisory Council – has warned that Ireland could face costs of between €8 and €26 billion if it misses legally binding climate targets. The report also warns that Ireland is currently on track to overshoot 2030 greenhouse gas emissions target for transport, buildings, small industry, waste and agriculture by around 57 percent.  The costs, described by the report as ‘staggering’, could potentially be more than halved if the Government follows through on its Climate Action Plan, although the report warns that the Plan is not being delivered at the scale or the speed required. The report recommends several actions that would cost less than one-tenth of capital spending planned by the Government out to 2030, and which could dramatically reduce the costs burden, as well as transform Ireland into a healthier, more sustainable, and energy-secure society, reduce reliance on imported fossil fuels, and also boost economic activity and employment in related sectors. Parliamentary Budget Office publishes Climate and Environmental Expenditure 2025 The Parliamentary Budget Office has published its Climate and Environmental Expenditure 2025 in which it details relevant budget allocations for climate action. Within the Revised Estimates for 2025, just over €9 billion has been identified as being climate and environment-related – an increase of almost €2 billion on 2024. €6.996 billion relates to climate ‘favourable’ measures i.e. actions that have a positive impact on Ireland’s transition to a low carbon, climate-resilient and environmentally sustainable economy. The remaining €2.124 billion is identified as being climate ‘unfavourable’ i.e. measures that impede these actions. The report concludes with recommendations that Departments set ‘clear and separate’ performance metrics linked to all climate-related spending – including the use of carbon tax revenues – to help Members of the Houses of the Oireachtas and the public better understand how the allocation of these funds works. IDA Ireland’s new five-year strategy for sustainable growth and innovation IDA Ireland has unveiled its new five-year strategy, Adapt Intelligently: A Strategy for Sustainable Growth and Innovation, 2025-29 with four key strategic objectives: Strengthen long term investment, Scale cutting-edge innovation, Drive sustainable change and Maximise regional opportunities. Under ‘driving sustainable change’ the strategy describes client companies as ‘instrumental in shaping a green and digital global economy’, and Ireland as ‘having the potential to be a prime location for green-powered and digitally enabled enterprises’. The new strategy, which is aligned with the Programme for Government and the White Paper on Enterprise, also identifies four key growth drivers – digitalisation and AI; semiconductors; health; and sustainability.   Northern Ireland/UK news Northern Ireland publishes programme for government The NI Executive has launched its Programme for Government 2024-2027, Our Plan: Doing What Matters Most. Growing a globally competitive and sustainable economy and protecting the environment are among its immediate priorities, and its targets include achieving self-sufficiency with clean and affordable energy and becoming a net exporter of renewables. Proposed measures include helping local businesses cut their energy bills by investing £15 million in the Energy and Resource Efficiency Support Scheme and investing a further £75 million via the Invest to Save Fund into the public sector’s transition to net zero, in addition to publishing a Circular Economy Strategy and a Green Growth Strategy. Unlocking business value through sustainability integration New research from the Sustainability Value Creation Partnership reveals that businesses with deeply integrated sustainability strategies unlock greater value, driving innovation, boosting sales, enhancing reputation, and improving cost control. However, while two-thirds of leaders recognize sustainability’s importance to commercial success, only 37 percent report full integration within their organizations. Read more from Accounting for Sustainability. UK National Biodiversity Strategy and Action Plan The UK government has published its National Biodiversity Strategy & Action Plan (NBSAP) in which it commits to achieving all 23 targets of the Global Biodiversity Framework (see below) at home. The document sets out how the four countries of the UK will work together to address biodiversity loss, drawing on the commitments made by the UK and the UK’s Overseas Territories and Crown Dependencies to summarise and emphasise a collective ambition and determination to work together to address biodiversity loss.   Europe News Accountancy Europe publishes its analysis of the Omnibus proposal Accountancy Europe’s has issued three factual analysis of the European Commission’s (EC) recent Omnibus proposal focusing on: Corporate Sustainability Reporting Directive (CSRD) sustainability reporting standards (ESRS), and Corporate Sustainability Due Diligence Directive (CSDDD). These papers aim to give stakeholders an initial overview of the key proposed changes expected to reshape sustainability reporting and due diligence practices across Europe. The papers can be read alongside Accountancy Europe’s statement on the EC Omnibus sustainability proposal. European Commission adopts Union of Skills The European Commission has adopted a package of initiatives to improve high quality education, training and lifelong learning in the EU. The Union of Skills aims to deliver higher levels of basic and advanced skills, provide opportunities for people to regularly update and learn new skills, facilitate recruitment by businesses across the EU and attract, develop and retain top talent in Europe. The plan is accompanied by an Action Plan on Basic Skills and a STEM Education Strategic Plan to improve skills in science, technology, engineering, and maths, promote STEM careers, attract more girls and women, and boost preparedness in the face of digital and clean-tech transitions.   Environment and climate change a concern of European 16–30-year-olds Forty percent of 25,863 participants in the latest Eurobarometer Youth Survey have identified ‘rising prices and the cost of living’ as a concern, with one third of respondents saying the EU should focus its attention on the environment and climate change over the next five years. The majority of the participants, aged 16-30, for whom social media is the main information source, are also aware of the risks of online disinformation, with 31 percent believing the economic situation and job creation should be a priority.   World news COP16 concludes in Rome The extended session of COP16 concluded in Rome on Friday 28 February, with participants reaching a significant new agreement to address the global nature crisis. Governments agreed on the strategy to raise the funds needed to protect biodiversity and achieve the action targets of the Kunming-Montreal Global Biodiversity Framework (KMGBF), an international agreement aimed at addressing the global biodiversity crisis. The session brings to a successful close the business of the UN Biodiversity Conference, COP16. That meeting was suspended in Cali, Colombia in 2024 after failing to find common ground on a financing deal. UN Global Compact reaffirms support for mandatory human rights and environmental due diligence The world’s largest corporate sustainability initiative, the UN Global Compact, has reaffirmed its support for mandatory human rights and environmental due diligence, a crucial issue as businesses navigate evolving sustainability requirements. The Compact’s newly available Decent Work Toolkit for Sustainable Procurement helps companies, procurement professionals and suppliers align purchasing decisions with decent work principles to enable procurement staff and their suppliers to take action to improve labour conditions for supply chain workers. Report finds financial institutes remain committed to net zero A report from the global non-profit Institute for Energy Economics & Financial Analysis (IEEFA) has found that financial institutions remain committed to their net-zero pledges, despite what it describes as “diffidence towards collaborative action” (a possible reference to the recent exodus of US banks from the Glasgow Financial Alliance for Net Zero). The report, Cautious Urgency Can Resuscitate GFANZ 'Transition-Informed' Indexes, also predicts an expansion in the market for net-zero-aligned indexes. Resources Sustainability trends 2025 2025 is already seeing changes that are reshaping our future. Read about what to expect from sustainability in 2025 in this roundup by Institute Sustainability Advocacy Manager, Susan Rossney, with contributions from experts in reporting, assurance, tax, skills, procurement and more. Climate Ambition Accelerator (Limited Places) The UN Global Compact Network UK is making places available for Irish companies to take part in its Climate Ambition Accelerator. This offers participants a structured pathway and a clear roadmap to set and achieve science-based net-zero targets, align a corporate strategy with a 1.5°C future and to connect with experts & peers to drive climate action. Did you know? A report commissioned by Wind Energy Ireland, Good for your Pocket - How renewable energy helps Irish electricity consumers, has found that scaling up of renewable energy sources in Ireland since 2000 has cut spending on fossil fuels by €7.4 billion and prevented the production of more than 47 million tonnes of CO2 up to the end of 2023. Articles EU firms give cautious welcome to ESG deregulation amid fears of weakened standards (Business Post)   Euro ‘omnibus’ proposal reveals softer CSRD and CSDDD (ICEAW Insights)   European Commission proposes simplification of sustainability reporting rules (Chartered Accountants Ireland)   Trump’s return prompts companies to stifle climate talk with ‘greenhushing’ - Businesses that used to tout carbon-cutting are switching their message (Bloomberg)   Don’t Call It ESG, Call It Resilience - A new taxonomy around environmental, social and governance investing comes as political pressure mounts on investors (Wall Street Journal)   One in seven Irish firms have no women in senior roles (Irish Examiner)   Stand up for the future we want (Sustainable Views – Subscriber only)   Podcasts Zero: Why (Almost) Everyone Hates ESG Right Now (Bloomberg, 26 mins) Reporter Frances Schwartzkopff tells Akshat Rathi why the EU is rolling back some ESG legislation. And reporter Saijel Kishan explains that many companies today are still keeping their ESG plans in place — but just not talking about it.   Why ignoring women endangers the climate | International Women's Day 2025 (Outrage + Optimism, 50 mins) Are women the key to solving the climate crisis? Why are they - and their children - so disproportionately affected by the issue? And how can men step up to support change? To mark International Women’s Day, Christiana Figueres is joined by top climate scientist Dr Katharine Hayhoe. Events Institute of Chartered Accountant England and Wales (ICEAW), 2025: ESG – how should the financial statements reflect sustainability? Gain a practical understanding of how to reflect ESG principles in financial reporting for your organisation. Virtual, 14 & 24 March 2025, 9.30-12.30     EPA, Climate Change Lecture Series - Transformation in a Changing Climate: Insights from the IPBES Transformative Change Assessment Virtual, 26 March, 2025, 7pm   Chartered Accountants Worldwide, Difference Makers Discuss Special: Global Challenges and the Drive for Sustainability with Carmine Di Noia (OECD) In our upcoming episode of Difference Makers Discuss, Ainslie van Onselen, Chair of Chartered Accountants Worldwide and CEO of Chartered Accountants Australia and New Zealand, will be speaking with Carmine Di Noia, the Director for Financial and Enterprise Affairs at the OECD. This special conversation will dive into the crucial global challenges we face today and the role of finance professionals in tackling them. Virtual, 3 April, 18:00 - 18:30 pm BST   Chartered Accountants Ireland ESG Masterclass: Take your sustainability knowledge to the next level (ROI/NI) Masterclass designed for all professional accountants working in business or practice, wishing to consolidate their knowledge and understanding of the sustainability regulatory, reporting and assurance landscape. 9 April, 08:30 – 14.00, Virtual Chartered Accountants Ireland, The SME and SMP Sustainability Workshop A workshop for SMEs and small/medium accounting practices (SMPs) on how to get ahead of the sustainability curve. This interactive half-day session will focus on positive actions you can take to understand the ‘trickle-down’ effect of the Corporate Sustainability Reporting Directive ('CSRD’), green public procurement, access to sustainable finance, and how to make your practice more sustainable to save costs and respond to staff and client demands. Virtual, 23 May, 9.30- 12.30; €60 members; €75 non-members; 3 hours CPD points. EPA, EPA Annual Climate Change Conference 2025 The EPA Annual Climate Change Conference will be held on Wednesday 28 May 2025 in Dublin Castle. Please save the date for this event. In person, May 28, 2025 Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.        

Yesterday (March 6), Thrive and the Institute’s Member Experience team welcomed guests to our Step into your Power Sparkling Lunch in celebration of International Women’s Day.    Check out photos from the event here. In the wonderful surroundings of the Dean Townhouse, we were joined by members and students of the chartered community.  In her opening address, Dee France, from the Institute’s Thrive Wellbeing Hub, outlined the importance of shining a spotlight on some of the key challenges women face in the workplace and in society, while celebrating the many advances made in recent times.  Guests enjoyed a keynote speech from Eimer Lyons, founder of Well Rise Coaching, entitled “The Importance Of Healthy Boundaries” where attendees were encouraged to establish boundaries as a non-negotiable for a balanced, fulfilling career and life. Áine Crotty, Head of Compliance (UK & Europe) at nib Group, facilitated a panel discussion covering some key issues of the day namely barriers encountered and inclusive changes to the workplace, the importance of male allyship and leadership, challenges faced by working mothers and broached the topic of burnout and how it shows up for women. The panellists - Nifemi Ogunbiyi, Financial Account at Fenergo, Gillian Bane, Founder of Well Work 360, Katharine Mulcahy, Sales Excellence and Strategy Lead at Microsoft and Barry Doyle, President of Chartered Accountants Ireland -  shared many important insights on these topics and how they navigate their own personal challenges and successes both in their professional and personal lives.   The final segment of the afternoon was a fireside chat with Lorna Conn, Chief Executive Officer at CPL and Cróna Clohisey, Director of Advocacy & Voice at Chartered Accountants Ireland. Lorna reflected on the highs and lows of her career, how resilience helps build leaders and how she manages and balances her professional and personal life. The event was also raising funds for CA Support (the Institute’s in-house charity). In his opening address, Barry Doyle spoke about the Institute’s commitment to supporting the success and wellbeing of our female members through career and wellbeing initiatives and highlighted the important work of CA Support, encouraging those in the room to donate to CA Support as the majority of the cases the charity support are families – mothers and fathers who have encountered adversity and are in dire need of assistance.  If you would like to donate to CA Support in celebration of International Women’s Day, please do so here.  

To celebrate International Women's Day, we want to showcase some of our female authors. With expertise in a huge range of topics – from audit, to tax through to corporate governance and leadership – we're incredibly proud to have worked with these women to publish high-quality books and textbooks. Patricia Barker Patricia Barker is a Fellow of Chartered Accountants Ireland, having qualified in 1973, the 20th woman to qualify since the inception of the Institute in 1888. She served her articles with Stokes Bros & Pimin Dublin and worked in Peat, Marwick, Mitchell & Co. in Manchester. She then became a partner in an accounting practice in Manchester and worked in Manchester University as a principal lecturer. She was appointed lecturer in DCU in 1980 and progressed through senior lecturer, Associate Dean (Business School) and Vice-President (Academic) of DCU. She has completed an MPhil in Gender Studies at Trinity College. Her PhD developed a paradigm of disclosure of financial information to employees in organisations. Patricia has written The Minority Interest: Women Who Succeed in the Accountancy Profession. Veronica Canning Veronica Canning is an internationally acclaimed motivational speaker, executive mentor and consultant, with 30 years’ experience working at senior level across a wide range of organisations in all sectors and of all sizes, from SMEs to multinationals and the public sector. With her considerable experience, Veronica works with high potential individuals addressing their challenges, including developing an executive presence and building or repairing their personal brands. She also designs and runs group programmes, customised to the challenges facing organisations. Veronica has written Your Brand: Advance your Career by Building a Personal Brand. Dr Mary Collins Dr Mary E. Collins is a Chartered Psychologist who has worked in the leadership development/talent management field since 2003. Her current role with the RCSI Institute of Leadership involves working with senior leaders in the healthcare sector to develop their capabilities through a range of executive development and academic programmes. Prior to joining RCSI, she was Head of Talent and Learning for Deloitte Ireland. Mary is an Accredited Professional Executive Coach and Coach Assessor with the Association of Coaching, a committee member of the Coaching Psychology Division of the Psychological Society of Ireland and a council member of the Irish Institute of Training & Development (IITD). She also leads a successful business psychology practice.  Mary has written Recruiting Talented People. Margaret D'Arcy Margaret D’Arcy holds a BA in Accounting and Finance from DCU and is an Associate of Chartered Accountants Ireland. She has extensive experience in delivering courses for professional accounting examinations. Margaret has been lecturing for almost years and has taught both management and financial accounting for both third level and professional education courses. Previous to her lecturing and teaching career, Margaret held a number of roles in financial institutions in such areas as retail banking, treasury and international operations. Margaret has written An Introduction to Financial Accounting (2nd Edition). Gabrielle Dillon Gabrielle Dillon is an AITI Chartered Tax Adviser (CTA) and a Director of Dermot O’Brien & Associates. With over 18 years’ experience in VAT, she previously worked as a VAT Manager for BDO. Gabrielle has lectured in VAT for the Irish Tax Institute as well as other professional bodies. She is the regular author of VAT Cases & VAT News in the Irish Tax Review and is a member of its Editorial Board. Gabrielle has co-authored VAT on Property: Law and Practice (2nd Edition). Ethna Kennon Ethna Kennon, FCA, AITI is a Director in KPMG Ireland’s indirect tax group. Ethna has over 15 years’ experience specialising in VAT and providing indirect tax advisory and compliance services to a wide range of domestic and international businesses. She also lectures on VAT matters for Chartered Accountants Ireland and the Irish Tax Institute. Ethna has co-authored A Practical Guide to Value-added Tax. Penelope Kenny Penelope Kenny is a Fellow of Chartered Accountants Ireland, a former member of the Institute’s Council and also former Chairman of the Leinster Society of Chartered Accountants. With over 20 years’ accounting experience, she is principal at ArtsGovernance, which offers consulting on corporate governance specialising in the arts and cultural sectors. Penelope is a non-executive director, treasurer and head of the finance and audit committee of a large non-profit organisation with assets of over €500 million. She holds an MA degree from University College Dublin, for which her thesis was corporate governance. Penelope has written Corporate Governance for the Irish Arts Sector. Rachel Killeen Rachel Killeen is a marketing and communications consultant working with entrepreneurs and professional services firms to help them build business using integrated, strategic digital and traditional marketing plans. Rachel has worked with the RBS Group and also Danske Bank, focusing on marketing to corporate, treasury and SME clients. In 2007, she founded Killeen Communications Limited and now works with a range of clients from financial services and professional firms to FMCGs. Rachel has written Digital Marketing and Client Science: The Five Cs Marketing Plan for Professionals. Sheila Killian Sheila Killian is an associate professor of accountability at the Kemmy Business School, University of Limerick, where she teaches corporate sustainability and corporate finance, mainly at postgraduate level. She has also taught at universities in Finland and South Africa. Prior to joining academia, Sheila graduated in mathematics and professionally qualified in taxation and as a Chartered Accountant. She has worked in tax practice, aviation finance and educational software development. Sheila has published numerous peer-reviewed research papers on sustainability, accountability and the common good, with a focus on professional expertise, social justice, tax policy and responsible business school education.  Sheila has written Corporate Social Responsibility: A Guide, with Irish Experiences and Doing Good Business: How to Build Sustainable Value. Collette Kirwan Collette Kirwan FCA, BBS, PhD is a lecturer in accounting at Waterford Institute of Technology. She trained as a Chartered Accountant with PricewaterhouseCoopers where she subsequently worked as a manager in Audit Services. Collette first joined the School of Business at Waterford Institute of Technology in 2005. Between 2012 and 2016, Collette was a lecturer in accounting at University College Dublin where she lectured on the Master of Accounting and the Professional Diploma in Corporate Governance. Over her career, Collette has lectured at undergraduate, postgraduate and executive education levels on a range of subjects including auditing, financial reporting, financial management, corporate governance and business research methods. In 2013, Collette was awarded her PhD from University College Dublin. The study examines the role of non-executive directors on boards of private family firms. Collette’s research interests include corporate governance, boards of directors, governance of family firms, governance of not-for-profit organisations, financial reporting and auditing. During her academic career, Collette has presented at a number of international and national conferences and has published articles in Accounting, Auditing and Accountability Journal (AAAJ) and Accounting in Europe. She has also published articles on corporate governance in Accountancy Ireland. Collette has co-authored Cases in Corporate Governance and Business Ethics. Mariannunziata Liguori Mariannunziata Liguori is Senior Lecturer in Management Accounting and Director of the MSc Accounting and Finance at Queen’s Management School, Belfast, where she moved after a visiting period at the University of Alberta in Canada. She was awarded a PhD, investigating processes and organisational dynamics of accounting change in the public sector, by Bocconi University, Milan, where she has also previously worked. Mariannunziata is a member of the editorial board of the public-sector and not-for-profit journal Financial Accountability & Management. She has been the secretary of the Public Services and Charities Special Interest Group of the British Accounting and Finance Association since 2015. Mariannunziata has co-authored Charity Accounting and Reporting at a Time of Change. June Menton June Menton FCA holds a degree in Business and Legal Studies from UCD. She is a technician member of the Irish Taxation Institute. She completed her training in a medium-sized accountancy firm, O'Kelly and Co., before joining Deloitte where she worked as an auditor and management consultant. She has been Financial Controller of the Irish Sports Council since 2002. June has written Crack the Books: Accounting for Non-Accountants. Christine Nangle Christine Nangle B. Comm., ACA, Finance Manager of the Institute of Technology Tallaght where she is also an associate lecturer in the Department of Accountancy & Professional Studies. She is also director of a software development company. Christine has extensive practical and lecturing experience in auditing and assurance, and financial reporting. She qualified as a Chartered Accountant following her professional training with Deloitte and subsequently worked in industry, including eight years with Coca-Cola Hellenic Ireland, where she was Head of Internal Audit and latterly Commercial Finance Manager. Christine has written External Auditing and Assurance (4th Edition). Ros O'Shea Ros O’Shea, BComm, MAcc, FCA, AITI, Dip Corp Gov, is a highly experienced business leader with a career spanning almost 20 years working with the board and executive of two of Ireland’s largest and most-respected companies: CRH plc, where she was Head of Group Compliance & Ethics, and Smurfit Kappa Group plc. An Irish Chartered Accountant by profession, Ros is a partner in Acorn Governance Solutions, sits on the boards of the Food Safety Authority of Ireland and the Royal Victoria Eye & Ear Hospital, is Programme Director for the Diploma in Governance & Compliance at the Irish Management Institute and also runs programmes for the Institute of Directors on these topics. Ros has written Leading with Integrity: A Practical Guide to Business Ethics. Anne Marie Ward Anne Marie Ward is Professor of Accounting at Ulster University (Jordanstown). Her teaching specialities are managerial finance and financial accounting. She has taught both topics at undergraduate and at postgraduate levels, and she also lectured for Chartered Accountants Ireland for 18 years. Anne Marie has also published articles and research reports in professional and academic journals. Anne Marie has written Finance: Theory and Practice (4th Edition).

In Irish news this week, we bring you an update from the recent TALC Collections sub-committee meeting and Revenue has published guidance on the new agent e-linking process. In UK news, HMRC release a message on ADL performance and recent banking issues, and we bring you the latest guidance updates and publications in our post EU exit corner. In International news, the OCED has published a working paper on taxation of capital gains. Ireland 1.Read about the representations made by the Institute, under the auspices of the CCAB-I, at the recent TALC Collections sub-committee meeting. 2. Revenue has issued guidance on the new agent e-linking process. UK 3. HMRC issue a message on ADL performance and recent banking issues. 4. Read the latest updates and publications in the post EU exit corner. International 5. The OECD has published a paper on taxing capital gains. 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.

Revenue has updated its guidance on Return of Values – Investment Undertakings to confirm a reporting obligation does not arise for excepted unit holders in Pan European Pension Product (PEPP) and The Future Ireland Fund and the Infrastructure, Climate and Nature Fund. The manual now confirms that all returns should be submitted through the Revenue File Transfer System (RFTS) to the Analytics and Information Branch of the Accountant General's and Strategic Planning Division.

HMRC has released a brief message on two issues raised last week; problems with some advisors accessing certain systems and issues with some banks having problems with some of their services. ADL Performance (Advisors unable to access certain systems)  We’re sorry about the issue that impacted customers on our Self Assessment telephone service and ADL last week. This has been resolved. Affected colleagues continued to provide a service to customers by offering general advice and we encouraged people to use our online services, which were working as normal. Banking Issues Friday 28 February We’re aware of the issues with some banks on Friday 28 February 2025. They've now been resolved, meaning customers will have been able to pay their tax and avoid any penalties. Our online services are working as normal.

HMRC Stakeholder Digest HMRC has released the February 2025 HMRC Stakeholder Digest which provides a monthly round-up of HMRC’s latest news and updates including:   New ‘Help for Hustles’ campaign Unlocking Child Trust Funds Filling National Insurance gaps to increase the State Pension Tax advice– don't get caught out by tax avoidance

Revenue has published a new Tax and Duty Manual on the VAT treatment relevant to Taxi drivers outlining the various VAT rules which apply to taxi drivers. The manual outlines the VAT registration obligations of taxi drivers, and the VAT recoverability rules for relevant services received. The VAT implications for taxi drivers using the services of an online platform provider for taxi booking are outlined in the guidance.

Revenue has updated its guidance on the VAT Treatment of heat pump heating systems to provide additional details on the application of the second reduced VAT rate. For the second reduced VAT rate of 9 percent to apply, the supply of the heat pump heating system and its installation must be completed by the same business in the same supply (i.e. a supply and install contract). The supply and installation of a heat pump heating system can include key equipment required to facilitate the efficient operation of a heat pump. The Tax and Duty Manual Fixtures and Fittings has also been updated to refer readers to the above-mentioned manual for details on the VAT treatment of heat pump heating systems.

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. Below we also feature a range of resources to help businesses in their preparations for the changes to business-to-business parcel movements from Great Britain to Northern Ireland under the Windsor Framework from 31 March 2025.  Useful resources for parcels changes  Here are some of the links to guidance and resources:  Future arrangements for moving parcels from Great Britain to Northern Ireland under the Windsor Framework  Simplified processes for Internal Market Movements (SPIMM)  Moving goods into Northern Ireland as ‘not at risk’  UK Internal Market Scheme (UKIMS)  Customs Duty Waiver Scheme  Duty Reimbursement Scheme  Categorising goods for Internal Market Movements from Great Britain to Northern Ireland  Miscellaneous guidance updates and publications Data Element 2/3 Documents and Other Reference Codes (National) of the Customs Declaration Service, Manage your Trader Goods Profile, Applying to use simplified declarations for imports, Apply to operate a temporary storage facility, Pay less Customs Duty on goods from a country with a UK trade agreement, External temporary storage facilities codes for Data Element 5/23 of the Customs Declaration Service, Simplified processes for fixed transport installations, Apply for a customs comprehensive guarantee to cover customs debts, Apply for Designated Export Place approval, Apply for authorised consignor or consignee status, Apply to import multiple low value parcels on one declaration, Importing bananas you have to pay duty on into the UK, Apply to use simplified procedures for import or export (C&E48), Transfer the rights and obligations of a customs special procedure to someone else, Apply to pay less duty on goods you import for specific uses, Apply to delay or pay less duty on goods you import to process or repair, and Apply to operate a customs warehouse.

The OECD has published a working paper on taxing capital gains. The paper analyses the rationales, challenges, and implications of offering more favourable tax treatment to capital gains compared to other forms of income. This paper lays the groundwork for evaluating potential policy reforms.

Revenue has published new Guidelines for Agents and Customers regarding the Agent e-linking process outlining the new e-linking process for both agents and customers. As outlined in the earlier news item on our update from the meeting of the TALC Collections Subcommittee, the new e-linking system will be available from 25 March 2025. The new e-linking system will involve the agent initiating the linking process online and the client actioning the request.  As the requirement and responsibility lie with the client to approve the link request, greater digital security and transparency is provided to both the agent and client. The system will facilitate viewing, approving and rejecting agent links functionality and should provide customers and their agents with a quick, secure, and cost-effective method to conduct their business electronically with Revenue.  Customers without a ROS or myAccount registration will continue to be processed under the existing linking rules.