Revenue has updated the Tax and Duty Manual which provides guidance on tax equalisation arrangements. The updated manual states that employers are required to ensure that payroll submissions under shadow payroll arrangements are accurate and reviewed for accuracy on an ongoing basis (paragraph 5, step 2). In addition, examples 5.1 and 5.2 have been updated to reflect Finance (No.2) Act 2023 amendments. 

Revenue has updated its guidance on the online Non-resident Landlord Withholding Tax (NLWT) system which commenced from 1 July 2023.   Section 1041 TCA 1997  provides that the person making the payments will be required to submit a rental notification (RN) providing certain information regarding the landlord and the rental income on which tax is being withheld. The NLWT system allows tenants/other direct payers and collection agents to input RNs for residential or commercial/agricultural properties, and provides a facility for both collection agents and tenants/others to set up a repeat RN. The manual has been updated to include guidance on setting up a repeat RN and creating a direct debit mandate (paragraph 5).  Collection agents and tenants are required to provide the unique property identifier, obtained from the landlord, when submitting the RN, such as the Local Property Tax identifier (LPT ID) for residential property. As rented non-residential properties do not have an LPT ID, the manual now includes guidance on the creation of a commercial ID for such properties (paragraph 9).  Other updates include:  Additional guidance for collection agents (paragraph 11) and non-resident landlords (paragraph 13)  ROS certificate and sub-certificate queries (appendix 2)   Extracts from the Notes for Guidance reflecting the Finance Act 2023 updates (appendix 3).  Further information can be found in eBrief No. 186/24. 

Tax revenues for the first half of the year were €44.7 billion, according to the recent June Exchequer figures. The figures represent a €3.8 billion increase (or 9.3 percent) on the same period last year. Aggregate tax receipts for the first half of 2024 are now ahead of expectations, with the over-performance largely due to corporation tax receipts. An Exchequer surplus of €3.1 billion was recorded in the first half of the year.   The breakdown of tax revenues is as follows:  Income tax receipts were €16.7 billion to end-June, €1.2 billion, or 7.5 percent higher than the first six months of 2023 and somewhat above profile.  VAT receipts to end June were strong at €11 billion, €0.6 billion (6.2 percent) higher than the same period last year and in line with expectations.  Corporation tax receipts of €12.2 billion were collected to end-June, 15.4 percent ahead of the same period last year and 11.2 percent (or €1.2 billion) ahead of profile.  Total gross voted expenditure to end-June amounted to €47.1 billion, €5.2 billion (12.4 percent) ahead of the same period in 2023.  Commenting on the figures, the Minister for Finance, Jack Chambers TD said:  “June is a key month for tax revenues and the strong performance across the first half of the year is a welcome indicator of the health of our economy, most clearly reflected in the robust growth in income tax and VAT revenues.  The stand-out feature is undoubtedly the sharp spike in corporation tax receipts in June, which means that in the year to date, this revenue stream is well above its level in the same period last year.  That said, there has been considerable volatility – in both directions – in corporation tax revenues over the last number of months, underlying the need to treat around half of these receipts as windfall in nature. There is also overwhelming evidence that confirms the highly concentrated nature of these receipts.  The two new investment vehicles – the Future Ireland Fund and the Infrastructure, Climate and Nature Fund – signed into law last month will help us to address some of the risks around windfall tax revenues, but this must be coupled with a balanced approach to budgetary policy. With this in mind, Government will set out the fiscal parameters for Budget 2025 in the Summer Economic Statement, which will be published next week.” 

  In this week’s Sustainability/ESG bulletin, read about a new Government report highlighting the barriers to climate action, the NTMA’s 2024 mid-year review with positive climate investment news, CSO figures showing increases in business energy use, and the launch of collaborations between IAFA & IAASA on sustainability reporting, assurance and education. Also covered are funding updates from Northern Ireland and Europe, and the usual awards, jobs, articles, resources and events.   Ireland news New Government report identifies the barriers to climate action A new report from the Department of the Environment, Climate and Communications highlights the barriers people experience in taking climate action, including the barriers faced by business and the support and guidance needed to take part in climate action. The report, 'Climate Conversations 2023 – From Individual Action to Collective Engagement', builds on the Environmental Protection Agency's ‘Climate Change in the Irish Mind’ study, and provides insights into the "attitude behaviour gap" that can help shape climate policy and public engagement that speaks to people directly. NTMA’s 2024 mid-year review The National Treasury Management Agency (NTMA) has published its 2024 mid-year business update. The update notes that investors have reacted favourably to the establishment of the two new savings funds, the Future Ireland Fund and the Infrastructure, Climate and Nature Fund. ISIF has further strengthened its programme of investments across its priority themes, and is ahead of schedule in its 5-year €1bn Climate Action programme, with over 77% of the total already committed after a little over three years. NewERA, meanwhile, has provided financial and commercial advice to Government Ministers and Departments, with a particular focus on climate and Ireland’s transition to a low-carbon economy. CSO figures show increase in business energy use The Central Statistics Office (CSO) recently published statistics on business energy use in 2022, which found that energy use by Irish resident enterprises increased by 22% in 2022. There was a 1.3% increase in energy use by the industry sector while it rose by 47% in the services sector. The cost of energy purchases by Irish resident enterprises increased by 83% from €8.8 billion in 2021 to €16.2 billion in 2022. Overall, the services sector accounted for 54% of business energy use in 2022. The total quantity of renewable energy purchased by enterprises in the industry and services sectors was 8% higher in 2022 compared with 2021. Irish Science Media Centre to tackle rising misinformation A new all-Ireland Science Media Centre (SMC) has opened on a pilot basis to combat misinformation in news media and foster a deeper public understanding of science. Its objectives include tackling misinformation, enhancing public understanding of science, championing higher standards in science reporting and communication, improving science literacy in news media and the wider public, and providing policymakers with evidence-based information on topical controversies through the news media. The pilot is part of the development of the global network of Science Media Centres. Earlier this year, the World Economic Forum warned that AI-driven misinformation is now world’s biggest short-term threat. IAFA & IAASA Collaborations The Irish Accounting and Finance Association (IAFA) and the Irish Auditing and Accounting Supervisory Authority (IAASA) are delighted to launch a research funding competition to support and advance research projects for IAFA members. Applications from researchers within all accounting and finance disciplines are welcome from now until 30 September. Projects that can demonstrate relevance to policymakers, standard setters, regulators, as well as the academic community, professional advisors and business owners are particularly welcome. Research projects with a specific focus on the following areas are encouraged (see call document for specific topics): Sustainability in Accounting Education, Sustainability Reporting, Sustainability Assurance, Audit Quality. UK/Northern Ireland news Proposed changes may ban zero-hour contracts Economy Minister Conor Murphy has proposed changes to employment law in Northern Ireland that could ban zero-hour contracts. The consultation aims to introduce new legislation next year, potentially replacing zero-hour contracts with a "banded hours" system, ensuring workers are guaranteed an average number of hours annually. Another proposal includes granting workers the right to one week of unpaid carers leave every 12 months, aligning Northern Ireland with the rest of the UK. The consultation will run until the end of September with the responses informing the draft legislation. Funding for investment in sustainable technologies – manufacturing sector Funding has been made available to businesses developing sustainable technology solutions for the manufacturing sector. The funding is available under The Investment Readiness Programme, part of the Made Smarter Innovation Sustainability Accelerator. Eligible businesses must be registered and active in the UK, and looking to raise investment and grow their business in the next six to12 months. Where next for SMEs and Net Zero? The UK Energy Research centre ran a webinar ‘Where Next for SMEs and Net Zero?’ on Tuesday 18 June 2024. The recording is now available on the UKERC website, where you can also download presentations and see related reports from UKERC's ‘SME Governance for Net Zero’ research project.  Europe News Denmark is reportedly set to introduce the world’s first carbon tax on agriculture after a an agreement between the Danish government, farmers, the food industry, and environmental groups. The law is expected to be approved by the Danish parliament later this year, with farmers reportedly to be charged “almost €100 a year” per cow once the levy rolls out in 2030. A new strategic foresight report, published by the European Environment Agency, calls for the need to further align European economic, social and security policies with the climate and environmental objectives. The ‘Europe’s Sustainability Transitions Outlook’ report highlights the need to take a broader view on such priorities as security, competitiveness or fairness, recognising that Europe’s socio-economic systems and wellbeing of its citizens depend crucially on a healthy and resilient natural environment, a stable climate and long-term sustainable use of resources.  World news The UN Global Compact is launching a global community for SPARK designed for small and medium-sized enterprises (SMEs) participating in the UN Global Compact. The Compact is the world’s largest voluntary corporate sustainability initiative. The aim of SPARK is to facilitate the exchange of best practices with some of the most innovative and influential SMEs around the world, to build knowledge, and form partnerships to accelerate progress toward the Sustainable Development Goals (SDGs).   Worth your time ‘Temperature Check’ a monthly climate newsletter issued by The Journal, has clear, easy-to-read coverage of climate policy and news from around the world. (Find it here) Articles Market forces are not enough to halt climate change (Irish Times) Wildfires ravaging Arctic Circle - EU monitor (BBC) Renewable energy accounted for 44.7% of all electricity production in the EU last year, making it the leading source of electricity in the bloc. (Euronews) Temperatures exceeding 30 degrees likely to become more common in Ireland – study (Irish Times) Sharp rise in number of climate lawsuits against companies, report says (The Guardian) Navigating exams with neurodiversity – Antje Derks from Chartered Accountants Worldwide explores strategies for success and self-advocacy (The Bottom Line – Accountancy Ireland) Podcast There are more than 800 startups promising to draw carbon dioxide from the air to help the world meet its climate goals. But there may not be enough buyers willing to pay for that service. Listen to more on Zero: The Climate Race (from Bloomberg) Resource: Business guides to communicate sustainability efforts The UN Global Compact Network United Kingdom has launched a series to help businesses overcome difficulties they may be experiencing in communicating their sustainability efforts. SDG Storytelling for Sustainability  guides companies on using the SDGs as a framework to communicate ESG strategies, and educate internal stakeholders on the importance of sustainability integration. Jobs A financial/reporting accountant is sought for an 'Energy/Sustainability/Renewables' role in Dublin 2 - NQ ACA. Find out more here. Upcoming Events The Law Society of Ireland 2024 Environmental, Social and Governance (ESG) Massive Open Online Course (MOOC) Delivered over 5 weeks, the Law Society’s 2024 MOOC on ESG is now available online and on demand. The MOOC is free and open to all, and Institute Professional Accounting Lead, Dee Moran, is speaking on the topic of the sustainable reporting landscape. Carbon Brief What are the key climate priorities for the new UK government? Following the UK general election, Carbon Brief is hosting a free webinar next week to discuss the key climate issues facing the new government. No formal presentations – just an informed discussion with three expert panellists who will also be answering your own questions. Panellists: Chris Stark, CEO of the Carbon Trust and former chief executive of the Climate Change Committee Emma Pinchbeck, chief executive, Energy UK Camilla Born MBE, independent climate advisor and former UK senior official at COP26 Webinar, Tuesday, 9 July, 10-11am (BST) International Sustainable Finance Centre of Excellence (ISFCOE), The Evolving Landscape of Sustainable Finance in Ireland: Legal, Regulatory and Market Insights IFSCOE has announced it is to launch two Skillnet Ireland-funded reports: a Legal & Regulatory Study prepared by Matheson, and the Market Report prepared by KPMG. This event is a culmination of extensive research and analysis on the evolving landscape of market regulations and sustainability practices, and it promises to offer invaluable insights. In person, 10 July 2024, Time: 9AM – 10.30AM, Venue: Euronext Dublin Chartered Accountants Ireland, Chartered Accountants Ireland Leinster Society 47th Published Accounts Awards, closing date for entries is next week. Includes two sustainability categories: Sustainability and ESG Reporting Award – Listed entities Sustainability and ESG Reporting Award – Unlisted entities Sustainable Energy Authority of Ireland (SEAI) SME Business Briefing Join SEAI for a webinar to learn how your business can save money and energy this year. A full agenda will be issued shortly.  Virtual, Tuesday, July 23, 2024 10:00 AM - 11:00 AM 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, Chartered Accountant House, 13 September, 9.30- 12.30; €60 members; €75 non-members; 3 hours CPD points. EPA, Circular Economy Conference 2024 Online and in-person (Aviva Stadium, Dublin), 25 September Environment Ireland, Environment Conference In person, Croke Park, 17 October IAFA & IAASA  Integrating Sustainability Reporting and Assurance into Accounting Education Conference The conference is a collaboration between IAFA and the Irish Auditing and Accounting Supervisory Authority (IAASA) and aims to build awareness of the implications of sustainability reporting & assurance for accounting education, and to foster meaningful dialogue & collaboration among stakeholders to drive positive change. It will explore: Challenges and opportunities facing accounting education in the context of sustainability reporting and assurance, Corporate Sustainability Reporting Directive (CSRD) and its implications for accounting education, Future skills for sustainability reporting and assurance, Strategies for enhancing accounting education and student skills development. In person, 1st November, Maynooth University Network for Chartered Accountants working on ESG projects Are you a Chartered Accountant working in ESG or working on ESG-related projects? Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities? Chartered Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting. Next meeting: Wednesday, 25 July, 14:00-15.30 Zoom If you would like to attend, please email sustainability@charteredaccountants.ie     You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.

Here, Dee France, Member & Student Support and Well-being Lead at Chartered Accountants Ireland, explores what diversity and inclusion means in the workplace, the important role it plays for employee well-being, and why employers should foster a culture of belonging and inclusion. Diversity and inclusion (D&I) has become a driving force in the changing organisational landscape. Companies and business leaders are placing greater emphasis on their approach to D&I and are embracing policies and strategies to create a more diverse, fairer, and resilient workforce.  Employee well-being and D&I are closely connected. In fact, employee well-being awareness can be seen as an intrinsic element of a company’s effective D&I strategies and policies.  An essential and significant feature of good overall well-being is our feeling of purpose and belonging. Programmes and initiatives that promote inclusion, diversity, and belonging can support and cultivate positive employee well-being. In its entirety, D&I in the workplace can have an impact on our overall happiness at work.  Emotional tax Employees from diverse backgrounds who experience a non-inclusive workforce can face an additional burden of an ‘emotional tax’ – the experience of being treated differently from peers due to race/ethnicity or gender, triggering adverse effects on health and feelings of isolation and making it difficult to thrive at work. This emotional tax can have an extremely negative impact on employees’ mental health and wellbeing. Feeling undervalued, overlooked, or excluded due to your identity can heighten a person’s vigilance to protect themselves from acts of bias or prejudice. Thrive, Chartered Accountants Ireland’s dedicated well-being hub, continues to receive regular calls from our members and students who seek support from the damaging impact a non-inclusive workplace can have on their wellbeing.   Managing diversity and inclusion  Implementing effective and successful D&I strategies and policies can take time, but a coherent and structured approach to these ensure that work practices and values support an inclusive culture that embraces different people, views, and perspectives. Producing a D&I policy allows a company to go above and beyond legal obligations and set a standard of expectation for the organisation and for its employees.  There are several ways companies can begin to incorporate inclusivity into the workplace.  Leadership and employee training  Providing training for leadership, management and employees increases awareness, aids the understanding and engagement in the company’s values and policies, helps embed these initiatives into the culture of the workplace, and allows for the development of empathy for others.  Employee network groups  Building an employee network group is an effective way to allow people to connect with others from different groups, and raise a sense of belonging, affinity, and kinship.  For example, the Institute has several different committee groups such as Balance, our LGBTQ+ committee, Student Committee, and D&I committee.  Open communication and feedback  Developing open and clear communication channels that are easily accessible to employees breeds better dialogue. It ensures employees and managers alike feel safe in airing grievances, giving feedback, and the feeling of being heard and valued.  Employee surveys on D&I initiatives allow companies to take onboard employees’ experiences and action feedback. It permits companies to assess if policies and strategies are working and evaluate and benchmark their efforts from year-to-year.  The Thrive Wellbeing Hub provides counselling, wellness coaching, practical advice and more to all members of the Institute. You can contact the Thrive wellbeing team by visiting our website, via email at: thrive@charteredaccountants.ie, or by phone: +(353) 86 0243294. 

Companies integrating tax disclosures into sustainability efforts face a complex transparency challenge. David McGee explains why Tax is becoming an increasingly important aspect of a company’s social responsibility and overall values. This is evident in its inclusion in sustainability reporting frameworks, such as the Corporate Sustainability Reporting Directive (CSRD). The trend towards integrating tax disclosures into sustainability efforts indicates that companies face a complex and ongoing challenge regarding tax transparency and sustainability. PwC’s 2024 Tax Transparency Report analysed the tax disclosures of all 20 companies listed on the main market of the Irish Stock Exchange (Euronext Dublin) to see how prepared they are for tax disclosures under the CSRD and how it affects their tax approach. Tax policy approach We found that companies primarily make tax disclosures through a tax strategy, also known as a company's approach to tax or tax policy. We discovered that 80 percent of companies mentioned tax in their broader sustainability reports, up 14 percent on last year. This indicates that companies recognise the importance of tax as an environmental, social, and governance (ESG) metric in which their stakeholders are interested. Additionally, one more company reported on tax with reference to the Global Reporting Initiative (GRI) 207 standard compared to last year. However, few companies describe how their approach to tax links to their sustainability strategy. This may be due to simply not connecting the dots between tax and sustainability efforts. The CSRD is still in its relative infancy and, as such, the number of companies reporting a link between their tax and sustainability strategy is expected to rise in the years ahead. Broader implications Integrating economic and social impacts into tax strategy reflects an organisation’s commitment to considering the broader implications of its actions beyond mere financial gains, including its impact on communities and the environment. Here are some key steps businesses can take today: Engage the board: Increasing investor pressure on tax means tax transparency is now a board-level issue. It is essential for your board, tax function and ESG teams to fully engage with this issue and to align tax practices with sustainability strategy. Engage with your sustainability teams: Tax and sustainability teams should work closely to ensure that double materiality assessments carried out under the CSRD consider tax-related impact, risks and opportunities. This will contribute to informed decisions on the materiality of tax. Prioritise your tax strategy: Prioritise creating a formal tax strategy to guide disclosures and to control the narrative regarding your company’s tax practices and transparency efforts. Consider what, and to whom, you are reporting: Understand the material tax matters your stakeholders want to know about and why. Review your current disclosures to see if they align with stakeholder expectations and/or regulatory requirements. Consider clarity and context in communications to help your target audience understand what’s at stake. Establish optimal reporting framework: Choose a reporting framework that aligns with your company's values and stakeholder interests. If you are using an existing framework like GRI for sustainability, align your tax disclosures accordingly. Set up tax disclosure processes: Implement formal procedures and governance to uphold the integrity of both qualitative and quantitative tax disclosures. This helps to ensure accountability and consistency. David McGee is Environmental, Social and Governance Leader with PwC Ireland

Aoife Hughes outlines what life-work balance is and the steps you can take to break unhealthy habits and achieve equilibrium Life-work balance often feels unattainable as we have a lot of time competitors, all champing at the bit to claim time and energy from us. Life-work balance can be defined as a series of habit changes, powered by a permission mindset, vision, strategies and systems. The metric of success is time to invest into your self-care. Here, I outline some key steps you can take to achieve the ultimate life-work balance. Permission to embrace self-care First, build a permission mindset to invest time into your self-care. This is a term that often incurs frustration as we feel we ‘don’t have time’ to invest into self-care. Self-care can be seen across three lenses: physical, emotional and social health. They can be interlinked. Self-care is a strategy to manage emotional stress to ‘find calm in the chaos’. We all experience chaos in life. ‘Big’ chaos can involve life-changing events such as moving house, having children or falling ill. ‘Small’ chaos is the day-to-day stress from getting to work on time, deadlines and cooking dinner. Building boundaries and prioritisation are critical components to managing self-care and stress. To deal with the chaos, and care for yourself, identify when you are stressed by noticing when your heart starts racing and you can’t concentrate. Manage this by inhaling for four seconds, holding your breath for seven seconds and exhaling for eight seconds. Future vision Design your ideal life-work balance by visualising what you want. Then, define your core values. These values are the deeply-held beliefs that guide your behaviours and decisions. Building awareness about limiting beliefs that impact your thoughts, emotions and habits is key to implementing change. Creating your goals involves change – something that is not easy as we are not conditioned for change. We are wired to stay within our comfort zone as we don’t have any emotional connection with something that we have not yet experienced. To achieve your goals to reach your vision, you need to break old habits and start building new ones. You can do this by identifying one goal to help you reach your vision. Change one limiting belief to build or break a habit to reach your goal. And if you need extra help, the How to Run Your Home Like a Business Framework supports habit changes with strategies and systems to manage the physical and mental load that comes with home and family life to make room for self-care. Building strategies Building a strategy to manage your home and family life involves identifying your ‘partner in the business’. This can be your roommate, family member or life partner. Create a plan for the work associated with the home and family. Look at the projects and tasks that need to be completed on a daily, weekly, monthly, quarterly and annual basis – just like how you would approach project management in the workplace. Next, look at your internal team, which could be your immediate family, and identify who your ‘village’ are. Leadership and asking for help are key to achieving success with implementing your strategies. Finally, identify what projects you would like to complete in your home. Manage when you would like to have these projects completed by creating a prioritisation plan. Systems management Now that you have your strategies and team in place, building systems and delegation are the final components. Identify what your key pain points are in terms of managing the physical and mental load that comes with home and family life. Give yourself permission to set a budget and invest in solving problems by expanding your team with external suppliers. For example, hiring a cleaner to manage weekly tasks will lighten the physical and mental load that comes with the home. The key cyclical tasks related to the home are cooking, laundry and dishes. They come with a heavy workload as they need to be managed regularly. Delegate ownership around these tasks by playing to the strengths of each partner. Delegation can be challenging. Working with the ‘progress over perfection’ mantra and accepting that tasks may be approached in a different manner, can help to overcome some of the challenges. Leverage planning tools and applications to streamline the systems you create to save time. Identify who owns a task that needs to be managed weekly, then create a system and schedule this task with an online calendar or app. Begin at the start Life-work balance is a fitness – you decide how far you want to take it. The hardest part is starting. Once you build your permission mindset and vision, however, you’ll soon find that the rest will fall into place. Aoife Hughes is the founder of FRAZZLE

Small businesses can sometimes feel left out of the conversation on neurodiversity, believing such initiatives are reserved solely for large businesses. Mark Scully explains why it is so important for small businesses to embrace neurodiversity and how  Neurodiversity is the idea that all people experience and interact with the world around them in many ways. There is no one "right" way of thinking, learning, and behaving. Under the neurodiversity lens, differences arising from neurodivergences, such as dyslexia, dyspraxia, autism or ADHD, are not viewed as deficits. Instead, these differences can give rise to certain strengths as well as unique perspectives. The importance of neurodiversity in the workplace has gained significant attention internationally and Irish workplaces are finally beginning to embrace this, such as Bank of Ireland’s roll out of its Neuroinclusion Policy. The commentary around neurodiversity initiatives can make it seem that they are the preserve of large organisations, however, leaving smaller businesses feeling that they don’t have the scale, resources or time to deal with such matters. Neurodiversity initiatives in small businesses Based on the most recent available CSO (2021) statistics, 69 percent of people are employed by SMEs. Importantly, almost 50 percent of all employees in Ireland are employed in businesses which employ less than 50 people, being small enterprises (22%) or micro enterprises (28%). So, it is paramount to emphasise the important role small businesses can play in embracing neurodiversity, as well as to challenge misconceptions and barriers that may stand in the way. “We will cross that bridge when we come to it” Some businesses may see neurodiversity as something to be dealt with in the future when they are forced to react to it, e.g. when a new employee is neurodivergent. However, businesses may be surprised by the likelihood that they may already have neurodivergent employees. Research published in the British Medical Bulletin in 2020 estimates between 15 percent and 20 percent of the population is neurodivergent, with the current view being that it is the higher end of this range. Taking this 20 percent rate, and by using the most recent European Disability Forum’s employment rate for disabled people in Ireland of 32.6 percent as a proxy (which likely understates the employment rate for all neurodivergent people, excluding autistic adults who face significant barriers to employment), we can estimate the probability of at least one neurodivergent person working in a business of a particular size. Based on those assumptions, we can arrive at conservative probability figures: In a business employing more than 10 people, there is a more than 50 percent chance that at least one person in that business is neurodivergent. In a smaller business with five people, this probability is 25 percent. In a larger business with 35 people, this probability increases to 90 percent. While rough, this calculation is intended to illustrate a key point: the probability that you already have a neurodivergent employee is much higher than you think. If your business is larger than a micro enterprise, there is no point waiting to cross the bridge – you likely already crossed it without even realising it. “We don’t have a budget for this.” If financial cost is significant constraint, there are numerous free or low/subsidised cost resources available to help: There are excellent not-for-profits/charities in Ireland that provide support, advice and resources on supporting adults with more common neurodivergences such as autism, ADHD, dyslexia and dyspraxia (DCD). Some organisations that were previously solely autism-focused have now broadened their remit to wider neurodiversity, such as Specialisterne Ireland. There are government-backed information and support programmes such as Employers for Change to assist employers in recruiting and retaining disabled employees. Specialisterne Ireland has recently collaborated with international organisations across the EU to roll out neurodiversity resources aimed at SMEs which are freely available to use. The Department of Social Protection will shortly roll out a revised scheme to replace the existing Reasonable Accommodation Fund and Disability Awareness Support Schemes. This revised scheme should hopefully make funding more easily available to subsidise costs of disability (including neurodiversity) awareness trainings for employers. Often, the most beneficial workplace adjustments for neurodivergent employees do not involve financial outlay. Instead, an understanding and willingness on the part of the employer to adopt a different way of working or communication to best suit that person’s cognitive style or sensory needs can be incredibly helpful. Any such adjustment depends entirely on what works for that individual and their needs but can include: flexible working arrangements; asynchronous communication to allow time to process information; being permitted to use noise cancelling headphones; taking movement breaks; being provided more prescriptive instructions to facilitate task breakdown; chunking work to minimise transitions, etc. But even where financial cost is involved for reasonable accommodations e.g. text-to-speech software, there are government supports available. “We don’t have the time for this.” Every business should embed diversity, equality and inclusion (DEI) initiatives, including neurodiversity, as part of its long-term strategy. This can involve reviewing the recruitment process, reviewing the physical environment for accessibility and updating policies and procedures. Smaller businesses can feel that a such an undertaking is beyond their capacity, however, and therefore avoid taking any steps at all. Inclusion is a continuing journey – there is no finish line. The key is to take one step and then another. Here are some small practical steps you can take today: Let your people know that neurodiversity is something you want the business to embrace. Invite them to provide feedback and help. Often, you will be surprised to find that people are more than willing to help, particularly where they or a family member is neurodivergent. Make your people aware. Online neurodiversity awareness trainings suitable for all employees generally range from 60 to 90 minutes in length. Train your leaders and managers. Typically, more in-depth neuro-inclusion training aimed at leadership and human resources range from two to three hours. It is important that neurodivergent employees have some way of making their voice heard, especially if they do not feel comfortable yet to share their neurodivergence. An anonymous survey to request feedback on neurodiversity in your workplace can be generated and circulated (via a third-party intermediary, if necessary, to ensure confidentiality and anonymity of feedback). Conclusion Neurodiversity is not just the domain of large businesses and multinationals – small businesses must readily embark on the neuro-inclusion journey if we are going to foster an inclusive workplace for all employees in Ireland. Mark Scully ACA is the founder of Braver Coaching and Consulting, an executive coaching and neurodiversity consultancy.

In Irish news, Revenue publishes key findings from its public consultation on VAT modernisation, guidance on Enhanced Reporting Requirements for employers is updated and the Department of Finance publishes responses to the first Feedback Statement regarding the strawman proposal on participation exemption. In UK news, we take a look at the tax policies of the two biggest parties in Northern Ireland, and HMRC releases its 2022/23 Tax Gap publications. Ireland Revenue has published a report setting out the key findings from the public consultation on modernising Ireland’s administration of VAT. Revenue has updated the Tax and Duty Manual which provides guidance on the Enhanced Reporting Requirements (ERR) for employers. The Department of Finance has published the responses it received to the first Feedback Statement on the strawman proposal on a participation exemption.   UK Read about the tax policies of the two biggest parties in Northern Ireland. HMRC’s 2022/23 Tax Gap publications have recently been published.   Keep up to date with all the latest Irish, UK, and international tax developments through Chartered Accountants Ireland’s Tax Newsletter. Subscribe to the Tax News by updating your preferences in MyAccount. You can also read this week’s EU exit corner here.

As people across the world condemn the attack by Russia on Ukraine, they also want to show their support through donations and using their influence for humanitarian intervention. Professional accountants will find themselves in positions of influence with many stakeholders including clients, employers, employees, and local communities.  Níall Fitzgerald, Head of Ethics and Governance outlines some practical considerations for accountants and business leaders in this context:    Fundraising for humanitarian or other reliefs People and organisations are looking to help the millions of Ukrainians displaced by the invasion by donating directly or running fundraiser events. Be aware of fraud risk and recommend controls that ensure the safeguard of any monies raised and that they are used for the purpose for which they were raised. Ensure the necessary licences are obtained for any public fundraising activity. Be clear on the purpose for the funds and how they will be channelled to the beneficiaries. Ensure compliance with national charity law and check that charitable donations are only made to a properly registered charity in your jurisdiction. Social media Understandably, many people and corporates are sharing their views on Russia's  invasion of Ukraine via social media. The distinction between when a view is a personal view or that of the organisation where a person works is not always clear. If you are an officer of a company, e.g. a director, chief executive, or the public relations officer, and you are commenting on a matter related to your area of responsibility, then it is very difficult to separate your view from the corporate view. For this reason, many organisations will have clear corporate social media policies in place and that is the first reference point if in doubt. However, before reacting to a colleague's personal post, it is important to also consider their right to hold and express an opinion. There can be a cultural aspect to this within an organisation, especially where respect, tolerance, diversity and inclusion, and psychological safety are highly valued. The specific circumstances of the person expressing the view might also be taken into account, for example their emotional proximity to the issue.  Developing corporate positions Many organisations are using their influence for good by publicly denouncing the invasion of Ukraine, with some going further to withdraw from investments and business operations in Russia, and any dealings with Russian state-owned entities. These decisions are not always the most straightforward to implement. Legal and other expert advice should be sought to consider how an organisation can address contractual obligations, restructure, and relocate operations. Many Russian citizens are against the actions of the Russian Government, and Russian employees, contractors, etc., should receive fair treatment and not be discriminated against. Reporting progress and being transparent on these positions, including any setbacks, is very important as corporates will be held to account by stakeholders and members of the public to honour their commitments. Careful thought should be given before making any wide-sweeping statements. The global economy, with its complex interconnected markets, creates practical difficulties when seeking to divest of everything connected to Russia.   Whistleblowing and speaking up Clearly defined and well-communicated whistleblowing and speaking-up policies and procedures can increase an organisation’s awareness of any weaknesses in it’s internal controls and practices relating to sanctions, anti-money and anti-bribery and corruption compliance. Communicating to employees the organisation’s position in relation to this crisis and reminding them about whistleblowing and speaking-up policies and procedures, promotes a safe environment in which individuals feel comfortable to raise any concerns about the organisation’s actions, or inactions. Corporate reporting While the scale of the impact of this crisis on organisations will differ, it will dwarfed by the impact on millions of Ukrainians. Organisations have important social obligations and responsibilities to corporate stakeholders. Accountants should ensure transparency and accountability in corporate reporting by highlighting the impact of the crisis on the organisation’s operations, asset valuations and exposure to liabilities. Examples of the sources of this impact include: supply-chain disruption; the cost of ceasing operations in Russia or the conflict/invasion zones; rising commodity prices; inaccessibility of certain markets due to trade or travel restrictions; difficulty maintaining required levels of capital reserves; and loss of key customers. Accountants will have a central role in collecting, measuring, and reporting the necessary information and ensuring it is reported in accordance with legal and regulatory requirements and relevant reporting frameworks. They should also understand the limitations to their expertise and call for the involvement of experts where necessary. Directors and senior management will need to consider expert advice when making highly judgemental decisions on values and estimates and in determining the future implications for the organisation.    Boundaries between personal life and professional life Negative emotions, such as anger and fear, increase the risk of self-defeating behaviours. The developing situation in Ukraine will understandably evoke such emotions in many. In this context, it is useful to refer to guidance issued by the CCAB bodies, in July 2021, to help accountants consider and distinguish if their personal behaviour could be viewed as conduct that might discredit the profession. While the facts and circumstances of every situation will differ, the CCAB guidance provides some examples of such behaviours, including the use of seriously offensive or threatening language causing distress, or threatening behaviour, towards a client or a member of the public outside of the work environment.  This non-exhaustive list of considerations may need to be reconsidered as the crisis in Ukraine develops. In many situations, increasing ethical awareness or the ability to address an ethical dilemma requires reflection. Professional accountants may find it useful to refer to, or circulate to professional accountancy staff, the Chartered Accountants Ireland Ethics Quick Reference Guide available from our Ethics Resource Centre. This article was adapted for members overseas from an article written by Níall Fitzgerald on the Institute’s Ethics Resource Centre.

Section 598 TCA 1997 provides a relief from capital gains tax (CGT), in certain circumstances, to an individual on a disposal of business assets. As the individual must be aged 55 or more, this is commonly referred to as ‘retirement relief’. Differing levels of relief apply to individuals aged 66 years or more at the time of disposal. With effect from 1 January 2025, these differing levels of relief apply to individuals aged 70 years or over.  Revenue has updated the Tax and Duty Manual which provides guidance on disposals of business or farm on “retirement” as follows:  To reflect Finance (Covid-19 and Miscellaneous Provisions) Act 2022 changes  To reflect Finance (No. 2) Act 2023 changes  To remove content no longer relevant, and  To update examples.   

Revenue has updated the Tax and Duty Manual which provides guidelines for the procedures for Revenue debt in the Small Companies Administrative Rescue Process (SCARP), in the following areas:  Initial notification by the Process Advisor  Role of the Revenue SCARP Unit  Revenue's review process to determine its decision to include/exclude Revenue debt in the scheme  Revenue's proof of debt  Tax issues arising from the SCARP, and  Role of Revenue and the Corporate Enforcement Authority.