The latest UK tax tidbits feature updated guidance in a range of areas: Double Taxation Treaty Passport Scheme register,  HMRC email updates, videos and webinars for tax agents and advisers,  Extra Statutory Concessions (VAT Notice 48),  Check how much tax you pay on dividends and interest from savings,  Work out your Capital Gains Tax adjustment for the 2024 to 2025 tax year,  Late registrations for employment related securities,  Check how to deal with an employment related securities penalty,  Check if you have to pay tax on your pension,  Appeals reviews and tribunals guidance,  Calculate interest and penalties for tax years ending 5 April 2005 to 5 April 2023,  Calculate tax, interest and penalties for the tax years ending 5 April 2010 to 5 April 2023,  Named tax avoidance schemes, promoters, enablers and suppliers,  Our governance,  Check genuine HMRC contact that uses more than one communication method,  Apply for a refund of the higher rates of Stamp Duty Land Tax,  What will happen if you do not pay your tax bill,  Claim tax relief on your private pension payments,  Additional information you must submit before you claim for Research and Development tax relief,  Research and Development (R&D) Tax Relief: Enhanced R&D intensive support for loss-making SMEs based in Northern Ireland,  Research and Development tax relief: the merged scheme and enhanced intensive support,  Let Property Campaign: your guide to making a disclosure,  Employment Allowance: further guidance for employers,  Rates and thresholds for employers 2025 to 2026,  Inheritance Tax account (IHT400),  Check genuine HMRC contact that uses more than one communication method,  Check if you need to tell HMRC about your rental income,   Help with common risks in transfer pricing approaches — GfC7,  Penalties for a failure to correct certain offshore tax non-compliance, and  Details of deliberate tax defaulters. 

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 several reminders that the 1 May 2025 deadline for changes in how goods are moved by parcel and freight from Great Britain (GB) to Northern Ireland (NI) is in just a few days.  1 May 2025 parcels and freight deadline is approaching  HMRC has issued a range of reminders about the revised 1 May 2025 deadline for changes in how parcels and freight move from GB to NI. Read HMRC’s reminder emails as follows:  Traders moving goods from Great Britain to Northern Ireland, and  If your business moves goods from Great Britain to Northern Ireland.  Miscellaneous guidance updates and publications  Additional Information (AI) Statement Codes for Data Element 2/2 of the Customs Declaration Service (CDS),  CDS Declaration Completion Instructions for Imports,  Data Element 2/3: Documents and Other Reference Codes (Union) of the Customs Declaration Service,  Customs Importer and Exporter Population,  Customs UK Importer and Exporter Population: data tables 2024,  Top-up your Customs Declaration Service duty deferment account,  Amend or cancel a Customs Declaration Service import declaration,  Search the register of customs agents and express operators,  NCTS: software developers, and  Declare commercial goods you’re bringing into Great Britain in your accompanied baggage or a small vehicle.   

In this week’s miscellaneous updates, HMRC has published a range of updated guidance for key legislative changes which took effect from 6 April 2025 and draft legislation on the carbon border adjustment mechanism has been published for consultation. HMRC has issued a press release highlighting that Making Tax Digital for income tax commences next year and in another press release to mark the 20th anniversary of HMRC, HMRC looks to the future and says it is “harnessing the spirit of then Chancellor Gordon Brown’s bold reforms and embarking on a new era of transformation”. An update has been published on the consultation on predevelopment costs and the latest schedule of HMRC Talking Points live and recorded webinars for tax agents are available for booking. Spaces are limited, so take a look now and save your place. And finally, check HMRC’s online services availability page for details of planned downtime and the online services affected.   Updated guidance published on key legislative changes   Globally mobile employees The new Foreign Income and Gains regime commenced from 6 April 2025. HMRC has therefore published a collection of new guidance on 'Globally mobile employees' for employers. This includes guidance on the impact of residence on an employee’s liability to UK income tax, the newly reformed overseas workday relief, and the operation of PAYE for the new rules in place from 6 April 2025.   HMRC has also published guidance on how to send a notification to HMRC on running PAYE on a proportion of globally mobile employee’s income related to their UK duties. This addresses the new Section 690 Income Tax (Earnings and Pensions) Act 2003 direction process.   HMRC has also updated the relevant sections of their manuals with more detailed guidance as follows: new pages in the PAYE manual to cover the new globally mobile employee PAYE notification process,   a new section in the Employment Income manual for Overseas Workday Relief, and   updated pages on travelling expenses for non-resident and qualifying new resident employees working in the UK.  In September 2024, the Institute established a new working sub-group of the NI Tax Committee and Tax Committee South which is examining the complexity of cross-border and remote/hybrid working on the island of Ireland with a view to discussing the complexities of this with both the UK and Irish Government to identify improvements for employers and employees impacted. New Inheritance Tax (IHT) residence based regime  From 6 April 2025, the UK’s IHT territoriality rules changed from a domicile to residence-based regime. Broadly, and subject to transitional provisions, individuals who have been UK tax resident for at least 10 out of the previous 20 tax years are now considered ‘long-term UK resident’ and are therefore subject to IHT on their worldwide assets. There are specific provisions relating to trusts.   HMRC has now published guidance, and changes to its IHT manual which includes a new section on the rules for long-term UK residents.  Abolition of non-domiciled regime  The non-UK domiciled ‘remittance’ regime was abolished from 6 April 2025 and the new Foreign Income and Gains (FIG) regime was introduced. As a result, UK tax resident individuals now pay tax on worldwide income and gains on an arising basis irrespective of their domicile. This is subject to the four-year FIG regime which is available to individuals within their first four years of UK tax residence, after a period of at least 10 consecutive years of non-residence. These changes are also accompanied by a series of transitional rules which include the three-year Temporary Repatriation Facility for those previously taxed on the remittance basis.   HMRC has now published guidance to support these changes as follows:  a new Residence and FIG regime manual, and   updated pages in the Trusts, Settlements and Estates Manual, and   International Manual.   Further HMRC guidance and manual updates are expected to be published in due course.  Update on consultation on predevelopment costs  In the 2024 Autumn Budget, the Government committed to launching a consultation in early 2025 to explore the tax treatment of predevelopment costs. Earlier this month, HM Treasury published an update on this which referred to the recent Court of Appeal judgment in Orsted West of Duddon Sands (UK) Ltd v HMRC .   According to HM Treasury, as this case considered “matters with significant readout across to this issue” the publication of this consultation has therefore been postponed. The Government will determine its next steps in respect to this consultation in due course.   In the meantime, views from stakeholders on this judgment and its implications are invited by email to predevcosts@hmtreasury.gov.uk. 

Revenue has updated the Tax and Duty manual Credit in respect of tax deducted from emoluments of certain directors and employees to include the contact details for the Tax Appeals Commission. Periodic updates have also been made throughout the manual including references to the 2024 tax year.

HMRC has sent a range of emails and published several documents relevant to employers, including the April 2025 Employer Bulletin. The minutes of the 13 March 2025 HMRC Employer and Payroll Group forum meeting, which the Institute is represented on, have also been published. These contain detailed information about the new Globally Mobile Employee PAYE Notification Form.   April 2025 Employer Bulletin  The April 2025 edition of the Employer Bulletin brings you all the latest HMRC updates and guidance to support employers, payroll professionals and agents. Included in this edition are important updates on:    • the new rates of the National Minimum Wage,   • reporting expenses and benefits for 2024/25,   • changes to notifications by employers to operate PAYE on a proportion of a globally mobile employee’s income and to overseas workday relief, and   • changes to the tax treatment of double cab pickups.         It also provides information to employers to ensure they are selecting the correct national insurance contributions (NICs) category letter for certain employees in respect Category B (married women and widows who have a certificate of election form showing that they are entitled to pay reduced NICs).   You can read the bulletin on screen or print it off. It’s compatible with most screen reading software packages.  Paying your PAYE and VAT bill by direct debit  HMRC is reminding taxpayers that you can make your PAYE or VAT payments simpler by signing up to pay by direct debit (DD). According to HMRC, DD is the most accurate way to pay these tax bills and reduces the burden of having to make the payment yourself, so you don’t need to work out how much you need to pay or miss a payment deadline.  Payments are automatically collected from your bank account based on the information you provide in the: Full Payment Summary and Employer Payment Summary for PAYE tax bill, and  VAT return.  To pay PAYE bill by DD, see: https://www.gov.uk/pay-paye-tax?utm_source=PAYE&utm_medium=email&utm_campaign=DD. To pay your VAT bill via DD go to https://www.gov.uk/pay-vat?utm_source=VAT&utm_medium=email&utm_campaign=DD.  Employer emails from HMRC  HMRC has sent a range of emails on subjects relevant to employers:  Are you expecting to pay statutory payments?,   Reporting accurate information in real time, and  Statutory Neonatal Care Leave and Pay update. 

Revenue has updated the Tax and Duty manual VAT – Postponed Accounting to reflect the recent change to the VAT 3 return making it mandatory to complete the Postponed Accounting PA1 field.

Revenue has issued an eBrief announcing Wednesday 19 November 2025 as the ROS 2024 return extended filing and payment date for certain self-assessment taxpayers. The extension applies to taxpayers who file their 2024 Form 11 return and fully meet their payment obligations through ROS. The payment obligations relate to the balance of income tax due for 2024 and the preliminary tax payment due for 2025. Beneficiaries in receipt of gifts and inheritances with a valuation date in the year ended 31 August 2025 who file a capital acquisitions tax return and make the appropriate payment through ROS can also avail of the extended deadline date. Taxpayers are required to both file and pay through ROS to qualify for the extension. Revenue confirmed in the eBrief that extension will not apply if only one action is completed through ROS. In these cases, the filing and tax payment due date will then be no later than 31 October 2025.

The Economic and Social Research Institute (ESRI) recently published its report Economic Overview of Ireland and Northern Ireland which provides a high-level comparison of the economies of Ireland and Northern Ireland (NI) over recent years. The report outlines similarities and differences between the two economies in terms of economic growth, labour market trends, living standards, education, health, general well-being and economic structures. The report highlights, that over recent years, the disparity in economic performance and well-being indicators between Ireland and NI is widening with the economy in Ireland displaying stronger economic growth and higher wages and living standards. Some of the key findings in the report are as follows: Ireland's population is growing faster than NIs, largely due to strong net migration in recent years. This has resulted in Ireland having a younger population, with a lower old-age dependency rate. There have been shifts in the labour market over time.  Labour market participation in Ireland has increased significantly since 2010, widening the gap with NI.  In 2022, the participation rate of those aged 16-64 was 76.8 percent in Ireland compared to 72.4 percent in NI. Employment rates in Ireland overtook NI in the period after the financial crisis, reflecting Ireland’s strong recovery. Ireland’s modified gross national income per capita in 2022 was 57 percent higher than NI’s gross domestic product per capita, reflecting stronger economic growth. In terms of wages, the data show a positive gap favouring Ireland, with hourly earnings 36 per cent higher than in NI in 2022. While Great Britain (GB) remains NI’s largest trading partner, NI’s trade with GB has declined since 2015, while trade with Ireland has increased. On a per capita basis, NI residents pay significantly lower personal income tax than those in Ireland (€2,980 in NI vs. €6,725 per capita in Ireland). Corporate tax receipts per capita in Ireland (€5,760) are over five times those in NI (€1,018), reflecting the dominance of multinationals.

Remote work offers flexibility, but connection with colleagues can’t be left to chance. Building relationships at work boosts well-being and helps teams thrive, writes Moira Dunne The traditional working model, where most people congregate in the office at the same time, enabled connection and collaboration. But, with so many people working remotely these days, we can't leave collaboration to chance—especially as meaningful connections with our work colleagues can boost our wellbeing. The importance of workplace connection It is widely agreed that one of the biggest limitations of remote working is the lack of social connection. According to Maslow’s Hierarchy of Needs, social interactions come third, with only physiological and safety needs being more important, suggesting that social interaction and a sense of belonging and togetherness, are crucial for people. The downsides of not connecting with others include: Isolation; Problems seeming bigger; Lacking an alternative perspective; No feedback; and No rapport with colleagues. In contrast, the list of reasons to collaborate is long. Consider the benefits of the following: Emotional support during challenges/setbacks; Less stress and anxiety; Mood boost and increased happiness; Sense of belonging; Productive team culture; Collaborative problem-solving; Learning and personal growth; and Enhanced well-being. Working together in a group brings a sense of purpose as we share goals or targets. Providing input helps us feel valued which, in turn, boosts our well-being and self-esteem. By exchanging ideas with others, we learn from their experiences and can share our knowledge to help others grow. Networking with colleagues and industry professionals also leads to professional growth opportunities. It can often seem easier to “save time” by foregoing optional work events, but by connecting with colleagues, we may avoid the negative impacts of working alone, such as anxiety, worry and reduced ability to switch off. Making time to connect For most people, time is at a premium. Everyone is busy. When you are planning your week, consider who you need to meet. By booking time at the start of the week, you have a greater chance of connecting while respecting their busy schedule.   Boosting online connection Working from home can be very productive as we have fewer distractions. Our energy levels can drop as we spend hours working alone, however. An online collaboration can inject energy and help spark ideas. Book a catch-up session or a project discussion with some colleagues, or ask your manager for a one-to-one check-in. In addition to formal meetings, there are many informal ways to connect with colleagues when working remotely. Encourage team members to try something new, and then tweak the approach to suit each person's needs. Most people already collaborate within Microsoft Teams—but, make sure you access all of the functionality on offer, such as chat, messaging and polls. This kind of collaboration can save time and deliver better outcomes. Connect to manage relationships Consider the amount of time often wasted trying to get started on a project—or time spent reworking a document that isn’t approved at a later review. Working together enhances our relationships and can prevent issues from occurring. An open and honest connection provides an ongoing chance to discuss issues or challenges before they develop into bigger problems that may be harder to resolve. Communicating assertively promotes open and transparent communication through which everyone feels heard. The key to this style is to present your needs and concerns while also demonstrating your interest in the other people’s needs and concerns. (endbio) Moira Dunne is the co-founder of beproductive.ie. Moira will present a free Webinar on May 1st to mark National Workplace Wellbeing Day. You can sign up for 'How Connection with Colleagues can Boost Your Wellbeing', which runs from 9:30am to 10:15am. Register here.

Offering high-margin business models and recurring revenue streams, gaming is fast becoming a focus for investors in Ireland, writes Christopher Brown Gaming is an industry traditionally overlooked by investors in Ireland, but there are indications that the tide is turning. Irish gaming company Keywords Studios made headlines in October 2024 when it accepted a $2.8 billion acquisition bid of from a consortium of investors. Albeit at the larger end of the scale, this deal is one of many in the Irish gaming space and follows a wider trend emerging in the international investment landscape. As of the third quarter of 2024, the buyout value of private equity (PE) gaming increased 63.46 percent year-on-year, from $5.2 billion in 2023 to $8.5 billion in 2024 (as you can see on this Pitchbook graph). This trend, both globally and in Ireland, begs the question: Why gaming, and why now? Growth potential and revenue streams Gaming companies are attractive to investors for several reasons, the most compelling being the strong return on investment achievable under private ownership. Gaming companies typically have low overheads, high margins and obtain exit valuations such as those yielded by software-as-a-service companies. Like software businesses, gaming is also scalable at low cost, and developers can capitalise product expenditure on the balance sheet as an asset. Games have in-built data and insights, which can be leveraged for both research and development and advertising. While its ease of deployment gives gaming global reach, the sector is also relatively resistant to economic cycles. Games also have the potential to generate recurring revenue in the form of microtransactions. The term ‘gaming-as-a-service’ (GaaS) has been used to describe game content provided on a recurring revenue model, offering a potentially lucrative investment opportunity. The global online microtransaction market size has been valued at $522.50 billion in 2025, and is predicted to reach about $691.30 billion by 2029. The product mix in gaming has also adapted over time and extends well beyond the release of a new gaming title. In-game transactions, limited edition content, subscriptions (including season passes), skins (which allow players to customise the appearance of characters or items), brand collaborations, live services, advertising and downloadable content (DLCs) can all deliver recurring revenue. Gamers have demonstrated their willingness to pay for new and innovative gaming experiences, and while the younger generation of gamers continues to grow, older gamers also offer stronger purchasing power. Consolidation opportunities The gaming industry is ripe for consolidation. Investors see opportunities to merge smaller companies in a fragmented industry to create larger, more competitive entities. Further, as PE-backed gaming corporations continue to hold fast in the face of current financial headwinds, their larger publicly traded counterparts are struggling and expected to offload some of their underperforming titles, creating acquisition opportunities at depressed valuations. We expect 2025 to be a strong year for large-cap and mid-market gaming deals as investors seek out bolt-ons as part of buy-and-build strategies. The independent gaming scene has been applauded for its use of cutting-edge innovation and ability to tell compelling stories through gameplay. Typically bootstrapped, these companies have proven that larger investment in game development does not necessarily equal greater returns. Investors recognise that there are opportunities to acquire developers at a lower valuation, securing a great return on investment. In short, there are clear signals that gaming deals are likely are likely to rise in Ireland in the years ahead. Overall, the industry feels buoyant and optimistic. Christopher Brown is Partner and Head of Strategy at KPMG

Dealing with one crisis at a time is no longer effective as the onslaught of unprecedented events becomes the norm for businesses, writes Colette Devey A fire at a substation causes a catastrophic power outage. A cyberattack paralyses the operations of an organisation. A major storm deprives a business of power, water and telecommunications. The imposition of tariffs by major trading partners requires supply chain reshaping. These are all examples of real-world crises that have affected corporations in the recent past. While they may take many forms, together they form an urgent call to action that goes well beyond the normal course of business. The age of permacrisis Organisations today have shifted from managing multiple interconnected crises to operating in a constant state of crisis. We have entered the era of the permacrisis, an ongoing period of instability resulting from a series of catastrophic events. Business leaders can no longer rely on traditional one-off business continuity practices to manage this new reality. They have been forced into a state of constant firefighting, often supported by outdated plans and response mechanisms. Those that are managing best have shifting their approach to focus on resilience, with stronger capabilities and less organisational stress. When a crisis hits, the typical approach has been to apply a ‘playbook’ based on how previous business disruptions have been handled. There is no such thing as a standard or textbook crisis, however. Each event, and its consequences, tend to be unique in their own way. Instead of preparing organisations for all potential scenarios, this limited approach forces organisations to improvise when each new crisis hits, expending scarce resources in the process. Worse still, it can lead to flawed decision-making and missteps as the people involved are operating in unknown territory. More frequent unexpected events A different approach is required in the face of increasingly frequent crisis events—one that  can help to build organisational resilience. Catastrophic and once-rare events occur with greater frequency these days, including cyber breaches, IT outages such as CrowdStrike, and weather events such as Storm Éowyn and Storm Darragh. Each brings with it the potential to compromise an organisation’s ability to do business. The question for organisations now is how best to prepare for the increased frequency of such events and situations never encountered before. The nature of their response to unanticipated events is crucially important. In recent years, many organisations have found that just thinking about business continuity is probably too narrow an approach. It is more important to consider what is critical and core to the organisation. If yours is a services business, ask yourself: what are the most critical services we provide, whether that be to a patient, citizen or consumer? If you sell products, identify your core products and the operational processes critical to their production and distribution. This approach will help you identify and prioritise the aspects of the crisis requiring an immediate response, and determine the order of recovery that will enable the business to resume operations as quickly as possible. A successful resilience programme encompasses the process and plan of action that empowers an organisation to manage any crisis, no matter how improbable or unexpected. Five-step approach to crisis and risk management To effectively prepare for, and respond to, crises, organisations should follow these five steps: Anticipate – Plan ahead and consider the risks and threats that may arise in the future. Think about what might go wrong in the organisation and the impact this would have. Prepare – Establish a business resilience policy and framework encompassing crisis management, communications, business continuity and disaster recovery. Respond – It is critically important that everyone in an organisation understands their assigned role in a crisis response, and how to perform it. Learn – Organisations should examine what has gone wrong during a crisis response, and what should be done differently in the future. Equally important is the need to examine what went right. This will help you identify the strengths you can build on in future crisis responses. Improve – Drawing on these lessons, leaders should seize the opportunity to reshape their business in preparation for the next crisis. The increasing frequency of previously improbable and unprecedented events, requires a new approach to crisis response. What worked in the past will not necessarily be effective today or in the future. Organisations must focus on resilience and implement processes and action plans that will shield them for the full impact of unexpected events, and protect core operations. Colette Devey is Risk Consulting Partner at EY Ireland

It’s crucial to highlight the challenges faced by all of us in the accountancy profession—a high-stakes, detail-oriented field that often grapples with tight deadlines, heavy workloads, and complex regulatory environments. Whether you're a seasoned accountant or just starting your career, managing stress is essential for both your mental health and professional performance. Stress is a natural part of life, but when it becomes chronic, it can significantly impact your health, well-being, and ability to perform at work. In the context of accountancy, stress might arise from managing intricate financial data, navigating regulatory compliance, or balancing multiple client demands. So how can we manage workplace stress and, more importantly, our personal stress while maintaining a healthy work-life balance? 1. Recognise the Signs of Stress The first step in managing stress is recognising when it’s becoming an issue. Stress manifests differently in everyone, but some common signs include irritability, fatigue, difficulty concentrating, muscle tension, and trouble sleeping. It’s easy to ignore these symptoms in the rush of meeting deadlines, but doing so can lead to burnout—a state of emotional, physical, and mental exhaustion caused by prolonged stress. In the accountancy profession, the pressure to avoid errors while delivering results on time can create a cycle of stress that builds up over time. It’s essential to pay attention to the warning signs and address them before they escalate. 2. Prioritise Time Management and Organisation One of the leading causes of stress in accountancy is the constant juggling of tasks and deadlines. Time management is crucial in minimising stress. Developing effective organisational habits, such as maintaining an up-to-date calendar and using project management tools, can help accountants keep track of deadlines, prioritise tasks, and allocate time for each project efficiently. Breaking down large tasks into smaller, manageable steps can also reduce the overwhelming feeling of having too much to do. For example, when working on an audit, plan specific stages of completion with realistic deadlines. This approach can reduce the pressure of delivering everything at once. 3. Set Boundaries to Maintain Work-Life Balance In today’s always-connected world, it’s easy to blur the lines between work and personal time. For accountants, especially during peak periods like tax season, this can lead to long hours and an inability to fully disconnect from work, both physically and mentally. Setting clear boundaries between work and personal life is essential to maintain balance. This might mean turning off work notifications after a certain hour or designating a specific time for personal activities, such as exercise, family time, or hobbies. By respecting these boundaries, you can recharge your energy levels and return to work more focused and productive. 4. Self-care isn’t selfish – take control of your own well-being Mindfulness and relaxation techniques can be powerful tools in managing stress. Techniques such as deep breathing exercises, meditation, and yoga can help you stay grounded during stressful moments. In a fast-paced work environment, taking just a few minutes to breathe deeply or meditate can significantly reduce stress levels. Additionally, regular physical exercise, whether it’s a morning run, or a lunchtime walk, can help clear your mind and boost your energy. Physical activity is proven to reduce cortisol, the body’s stress hormone, and increase endorphins, which improve your mood and mental outlook. 5. Seek Support When Needed Accountants may feel the need to keep up a professional facade and handle stress on their own. However, it’s vital to recognise that seeking support is a sign of strength, not weakness. Stress is an unavoidable part of any profession, especially in a demanding field like accountancy.  Many organisations are increasingly recognising the importance of mental health support in the workplace and offer employee assistance programs (EAPs), which provide confidential counselling services and resources to help employees manage stress and other personal challenges.  Here at Chartered Accountants Ireland, the Thrivewellbeing team can help you take that first step to seeking help from a professional – get in touch to talk to them in complete confidence. In summary, by recognising the signs of stress, prioritising time management, setting boundaries, and seeking support, when necessary, accountants can build resilience and maintain a healthy balance between work and personal life.