On 18 December the Ulster Society hosted a webinar on the Charities SORP 2026, which sets out a new framework aimed at enhancing transparency and better reflecting the wide range of charity sizes and structures.  This webinar looks at the upcoming changes, including: Some of the key updates to the Charity SORP A deeper dive into some of the areas more impacted by the changes, such as the Trustee’s Annual Report Consideration of the new Leasing rules and some common issues that charities might have to navigate Analysis of the new revenue recognition rules and how this might impact the typical sources of Income that charities are in receipt of Consideration of how accountants can prepare for the changes A recording of this webinar is available to view, for free and on demand, HERE A pdf copy of the slides used in this presentation is available HERE  

Welcome to the latest edition of Technical Roundup.  In developments since the last edition, the International Federation of Accountants (IFAC) has issued five videos that capture the key themes from a recent panel discussion on the implications of artificial intelligence on business and the accountancy profession.  IAASA has published its observations on Wave 1 Corporate Sustainability Reporting Directive (CSRD) reporting summarising key findings from their supervisory work during the first year of CSRD implementation in Ireland. Read more on these and other developments that may be of interest to members below.  Financial Reporting   The European Financial Reporting Advisory Group (EFRAG) has published its feedback statement on its discussion paper “The Statement of Cash Flows-Objectives, Usages and Issues”. EFRAG has published its November 2025 Update. The International Accounting Standards Board (IASB) has issued its December 2025 update and podcast. The IFRS Interpretations Committee (IFRIC) has issued its November 2025 Update. The UK Endorsement Board (UKEB) has adopted IFRS 18 Presentation and Disclosure in Financial Statements for use in the UK. The standard was issued by the IASB in April 2024 and replaces IAS 1 Presentation of Financial Statements. The standard is effective for periods commencing on or after 1 January 2027, with early application permitted. In their 10 December Episode of the Financial Reporting Council's In Conversation podcast series, Kate O'Neill, Director of Stakeholder Engagement and Corporate Affairs, is joined by Anthony Barrett, Executive Director of Supervision, and Jamie Symington, Deputy Executive Counsel, to discuss the progress of the FRC's consultation on proposed amendments to the Audit Enforcement Procedure which launched in October 2025. Auditing and Assurance  The Financial Reporting Council (FRC) has issued a consultation on its draft plan and budget for 2026-27 which sets out its priorities and resources for the year ahead. Accountancy Europe has published a paper setting out principles and good practices to support more effective and coherent audit supervision in the EU, particularly for PIE and cross-border audits where multiple national authorities are involved. Sustainability  In the EU, Omnibus I concluded on 16 December 2025 when the European Parliament (EP) approved a provisional agreement to simplify and reduce the scope of sustainability reporting and due diligence requirements for companies. Only EU companies with over 1,000 employees on average and a net annual turnover exceeding €450 million will be in scope for the CSRD. The CSDDD will apply only to EU companies with over 5,000 employees and a net annual turnover above €1.5 billion. Please see the final text of the proposal which provides further details. Accountancy Europe has shared some of its views in relation to the political compromise on the  Sustainability Omnibus Proposals. The International Sustainability Standards Board (ISSB) has issued targeted amendments to greenhouse gas (GHG) emissions disclosure requirements in IFRS S2 Climate-related Disclosures in response to specific application challenges that were identified as companies started to apply the Standard. The International Sustainability Standards Board (ISSB) and the German Standard-Setter (ASCG) are jointly hosting the second Sustainability Standards Conference in Frankfurt on 18 May 2026. The ISSB has published its December 2025 update and podcast. IAASA has published its observations on Wave 1 CSRD reporting, summarising key findings from their supervisory work during the first year of CSRD implementation in Ireland. The European Financial Reporting Advisory Group (EFRAG) has published three guides to help SMEs report on disclosures identified as particularly challenging in the public consultation and field test on VSME. EFRAG has also published its report into the VSME Market Acceptance. This explores the level of awareness in relation to the VSME, as well as its acceptance as a voluntary sustainability reporting tool. GRI, the Global Reporting Initiative, has conducted research into the value of sustainability reporting. In 22 of the 30 studies reviewed by GRI, a positive correlation was found between companies who disclose their sustainability impacts and improved financial performance. Anti-money laundering and sanctions  Chartered Accountants Ireland, the Central Bank of Ireland, and the EU Sanctions Helpdesk will hold an online webinar on 20th January at 10.30am, which will provide practical compliance support and guide participants through the essentials of EU sanctions compliance, the support available to Irish businesses, and how the EU Sanctions Helpdesk assists SMEs. Through real-world case studies, participants will gain valuable insights into how to navigate due diligence challenges. There will be a Q&A with the panel. Registration is available at the following link. The European Commission announced planned changes to the list of high-risk jurisdictions including adding Russia to the list in order to strengthen the international fight against financial crime. In addition, updates were also announced for the high-risk jurisdictions list following the decisions taken at the FATF and its list of ‘Jurisdictions under Increased Monitoring’ (‘grey list’), following the FATF Plenaries of June and October 2025. For further information regarding the planned changes to the list of high-risk jurisdictions, please refer to the following details recently published by European Commission. These changes will not enter into force until published in the Official Journal. Chartered Accountants Ireland announced the issuance of a Technical Alert (TA 05/2025) covering an outline of selected changes under the European Union 6th Anti Money Laundering Package (AMLD6). A copy of the TA is available at the following link. The HM Treasury in the UK published its Anti-Money Laundering and Counter-Terrorist Financing Supervision Report providing information about the activities of AML and counter-terrorist financing (CTF) supervisors (including accountancy Professional Body Supervisors (PBSs)) for the 2024-2025 financial year. This fulfils HM Treasury’s obligation, under Regulation 51 of the Money Laundering Regulations (MLRs), to publish an annual report on supervision activity using information requested from supervisors.  The Central Bank of Ireland published the first edition of its Financial Crime Bulletin. The purpose of this biannual bulletin is to provide an update on key regulatory and supervisory developments in the areas of AML, Combatting the Financing of Terrorism (CFT), Financial Sanctions (FS), and Fraud.  FATF published results regarding Belgium's recent Mutual Evaluation Report (MER) outlining an assessment of the measures used to counter money laundering, terrorist financing and proliferation financing.  Accountancy Europe published a recap summarising the stakeholder dialogue roundtable, which was held in November to discuss ‘Shaping the future of AML standards’. It was hosted by Accountancy Europe, together with FSR - Danish Auditors. The roundtable included representatives from the EU’s Anti-Money Laundering Authority (AMLA), the European Commission, the Danish EU Presidency, and non-financial sector entities, including auditors, accountants, tax advisers, lawyers, and notaries. The AMLA slide presentation is also available at the following link. AMLA announced the steps it is currently taking to harmonise EU AML supervision and the supporting instruments it will use to assess risks and how AMLA will select the entities it will directly supervise. In this context, AMLA published the draft RTS on risk assessments, which specifies data points and criteria that national supervisors will use to assess the entities they supervise. The draft RTS on selection was also published, which will apply these same data points and criteria to set out how AMLA will assess risks for the purposes of selecting entities for direct supervision. As part of its preparation for direct supervision, AMLA also launched a public consultation on draft implementing technical standards that set out how AMLA and national financial supervisors will cooperate during the selection process and when transferring supervisory powers for institutions or groups that will be directly supervised by AMLA. Stakeholders are invited to provide input through the public consultation by 27 January 2026.  AMLA also published a public statement outlining its approach regarding the public consultation process. Fraud The UK Government announced its new UK Anti-Corruption Strategy covering its approach to stopping corruption at home and abroad. It builds on the 2017 to 2022 strategy and reflects the evolving nature of the threats posed by corruption to the UK’s economy, security and democracy. The European Banking Authority (EBA) and European Central Bank (ECB) published a report regarding the 2025 edition of their joint report on payment fraud. The report covers the semi-annual data for 2022 to 2024 and confirms that the legal requirement for strong customer authentication (SCA) introduced in 2020 has contributed to reducing fraud levels. However, it also highlights the need for continued vigilance and for security measures to be adapted to combat new emerging types of fraud. The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published key tips to help consumers detect, prevent, and act on online frauds and scams. The tips including details on how to stay alert are outlined in two factsheets regarding crypto frauds and associated scams and online financial frauds and scams in an AI world. The National Cyber Security Centre (NCSC) in the UK announced that almost one billion attempts to access malicious sites were blocked (in less than a year) by a new government cyber tool. The Share and Defend service developed by experts at NCSC works to disrupt online crime and fraud by sharing near real-time data on known fraudulent and malicious websites with internet service providers, which can then prevent customers from clicking through.  Central Bank of Ireland (CBI) The CBI launched a public consultation on the implementation of the CBI's new responsibilities under the Access to Cash legislation. The public consultation covers two parts of the new Access to Cash regime including the identification of local deficiencies in the cash infrastructure and setting minimum ATM service standards and notifications requirements for firms operating ATMs. The CBI's Governor Gabriel Makhlouf delivered a speech to the eighth meeting of the Climate Risk and Sustainable Finance Forum covering climate risk and sustainable finance in Ireland and the EU, and the progress that has been made to date, highlighting the need to ensure climate action remains a priority for the financial sector. The speech also emphasised the Central Bank’s focus on climate risk and sustainable finance and continued encouragement to promote a collaborative approach to how the financial sector supports the transition and adaptation to net-zero. The CBI published a report regarding the roadmap to deliver a more effective and efficient regulatory framework building on the work of the CBI in terms of the integrated supervisory approach. The report outlines how the Central Bank will, in line with initiatives across Europe, enhance the effectiveness and efficiency of its supervision and domestic regulatory framework, improve gatekeeping processes, and deliver a more integrated and less burdensome reporting and data framework.  The CBI announced a consultation regarding the application of the Consumer Protection Code 2025 (CPC 2025) to all regulated credit union activities. The consultation paper sets out the rationale for this position and outlines the proposed approach for applying CPC 2025 to all regulated credit union activities. The CBI's Governor Gabriel Makhlouf delivered a speech to The Royal Irish Academy covering economic resilience and priorities needed in this area in the context of Ireland, Europe, and at an international level.  The CBI released the first edition of its Payment and E-Money Newsletter. The purpose of the newsletter is to provide updates on key regulatory developments in the Payment and E-Money sector and to signpost relevant upcoming changes. The CBI published its fourth and final Quarterly Bulletin of 2025. The bulletin noted that the outlook for the Irish economy in the medium term is being shaped by differing sectoral performances, ongoing structural change, geopolitical tensions and policy actions both at home and abroad.  The CBI published its quarterly Insurance Newsletter covering supervisory insights and updates for the insurance sector. Artificial Intelligence (AI) The International Federation of Accountants (IFAC) has issued five videos that capture the key themes from a recent panel discussion on the implications of artificial intelligence on business and the accountancy profession. The Oireachtas Joint Committee on Artificial Intelligence announced the issuance of its First Interim Report, which includes 85 recommendations on Ireland’s approach to the development, deployment, regulation, and ethical considerations of AI, and on the means of ensuring that the approach supports economic growth, innovation, public trust, and societal benefit while safeguarding rights and mitigating risks. The First Interim Report is available at the following link. The NCSC in the UK published an alert on the "dangerous” misunderstanding of emergent class of vulnerability (AI prompt injection) in generative AI applications. The NCSC has shared critical insights cautioning cyber security professionals against comparing prompt injection and more classical application vulnerabilities classed as Structured Query Language (SQL) injection. It suggests efforts should turn to reducing the risk and impact of prompt injection and driving up resilience across AI supply chains. Full details are available at the following link. Cybersecurity  The European Union Agency for Cybersecurity (ENISA) published the annual NIS Investments report, which presents the findings of a survey conducted by ENISA to explore how cybersecurity policy translates into practice across organisations in the EU and its effects on their investments, resources, and operations. The report calls out key highlights noting that investment focus is shifting from people to technology and outsourcing, and the fact that supply chain risk is still prevalent. ENISA organised a webinar to discuss the latest developments and considerations on engineering personal data protection in the Post-Quantum Cryptography (PQC) era. For details regarding this webinar including related slides, please refer to the following link. The NCSC in the UK published a 'Cyber Essentials Supply Chain Playbook' providing a guide that will help companies protect their business from cyber-attacks through support with embedding cyber essentials in the supply chain. The National Cyber Security Centre (NCSC) in Ireland published an alert regarding critical vulnerabilities in React server components. The NCSC strongly recommends installing updates for vulnerable systems with the highest priority, after thorough testing. Affected organisations should review the latest release notes and install the relevant updates. Digital Operational Resilience Act (DORA) The CEAOB responded to the European Commission in the context of the DORA review clause (Article 58(3)) to assess the applicability and possible extension of DORA to statutory auditors and audit firms.  Other news  The European Commission announced the market integration package, which aims to fully integrate EU financial markets and it is designed to remove barriers and unlock the full potential of the EU single market for financial services. This package is a central component of the European Savings and Investments Union (SIU) strategy. The proposals must now be negotiated and approved by the European Parliament and the Council. Please see attached factsheet regarding this package. The European Data Protection Board (EDPB) published various updates including recommendations to make online shopping more respectful of users’ privacy as part of an ongoing public consultation. It also released details of a preliminary discussion regarding the Digital Omnibus proposal. The ECB published a blog regarding the digital Euro outlining how the ECB plans to prepare for the potential issuance of the digital euro by 2029, assuming the European co-legislators adopt the necessary regulation by 2026. Preparatory steps, including pilot exercises and initial transactions, could begin as early as mid-2027. The ECB published a press release regarding the Governing Council proposal for simplification of the EU banking rules.  Cathy Shivnan, the Corporate Enforcement Authority’s (CEA) Director of Insolvency Supervision, recently featured in the All-Ireland Business Foundation's Entrepreneur Times discussing the CEA's public protection role when it comes to insolvency supervision and director accountability and responsibilities. For further details, please read the full piece here. The Financial Conduct Authority (FCA) in the UK published its ‘Regulatory Initiatives Grid’, which sets out the regulatory pipeline over the next two years. This document provides an overview for the financial services industry and other stakeholders to understand and plan for the timing of regulatory initiatives that may have a significant operational impact on them.  The Professional Standards Department (PSD) of Chartered Accountants Ireland published Issue 43 of the Regulatory Bulletin providing key updates and reminders for members’ attention in various areas including Audit and Assurance, Quality Assurance, and AML. Minister for Enterprise, Tourism and Employment Peter Burke TD, and Minister for Further and Higher Education, Research, Innovation and Science, James Lawless TD recently announced funding of almost €39 million for seven additional projects under Call 7 of the Disruptive Technologies Innovation Fund (DTIF) to foster innovation and collaboration between SMEs, multinationals, and research institutions. The Competition and Consumer Protection Commission (CCPC) published the ‘State of Competition Report’, which assesses how competitive conditions have evolved in Ireland’s non-financial services sector over a 15-year period (2008-2022) and the barriers that most affect entry and expansion in 2025. For further details regarding this report, please see the following link. The Department of Enterprise, Tourism and Employment also welcomed the publication of this report. For further technical information and updates please visit the Technical Hub on the Institute website.       -    The next edition of Technical Roundup will issue on Friday, 9 January 2026   -   Wishing all of our members a very Happy Christmas and best wishes for 2026     This information is provided as resources and information only and nothing in the information purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the information. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of the information we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained herein.  

In Irish news, Revenue has extended the deadline for completing the VAT modernisation and eInvoicing survey and the Institute has its say on the Finance (Tax Appeals and Fiscal Responsibility) Bill 2024. In UK news, we present the concluding part of our in-depth Autumn Budget 2025 coverage, focusing on measures aimed at closing the tax gap alongside various other announcements. We also remind readers that the deadline for submitting 2024/25 online self-assessment returns is 30 December 2025 to enable collection of tax under £3,000 via PAYE. In International news this week, the European Commission publishes a report on tax gaps in the EU.  Ireland 1. Revenue has extended the timeline for completion of the VAT modernisation and eInvoicing survey to 16 January 2026. 2. Read the Institute’s submission to the Joint Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation outlining concerns on proposals included in the Finance (Tax Appeals and Fiscal Responsibility) Bill 2024. UK 3. The final part of our detailed Autumn Budget coverage highlights measures aimed at closing the tax gap and investment in HMRC together with updates on other miscellaneous measures. 4. The deadline for filing the 2024/25 self-assessment returns online to allow tax collection via the PAYE tax code is 30 December 2025.  International 5. Read about the report published by the European Commission assessing the tax gaps in the EU. 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 Cross-border developments and trading corner here.  

As Ireland prepares to take on the rotating Presidency of the Council of the EU for the 8th time from July, we advocate a solutions-driven approach, advancing competitiveness, regulatory simplification, coherence, consistency and long-term economic resilience. By fostering open dialogue, communicating the benefits of EU membership, and involving our members and networks, on behalf of our 40,000 members, we will support a Presidency that advances policy but also builds ownership and delivers meaningful outcomes for people, businesses, and communities.   Read the Consultation response

IAASA has published its observations on Wave 1 CSRD reporting, summarising key findings from their supervisory work during the first year of CSRD implementation in Ireland. The paper provides insights from corporate reporting examinations, assurance quality inspections, and highlights the challenges faced by entities and audit firms as they adapt to evolving sustainability reporting requirements. Despite ongoing uncertainties surrounding the Omnibus Directive, IAASA’s supervisory remit for Wave 1 CSRD reporting will continue into 2026. The paper also sets out key messages for the year ahead, including IAASA’s approach in the context of an evolving regulatory landscape. 👉 Read the observations paper to understand the findings and prepare for 2026.

Further investment in HMRC’s debt management capabilities and a range of measures to close the tax gap featured as part of the Autumn Budget’s announcements. The Budget also announced some minor reforms to simplify reporting requirements and announced that further reforms to “streamline processes and improve the taxpayer experience” will be announced by HMRC at an event in Spring 2026. These reforms aim to build on HMRC’s Transformation Roadmap. The news also broke that as part of HMRC’s plans to achieve 90 percent digital interactions by 2029/30, from March 2026 HMRC will stop sending outbound letters which will instead be replaced by digital notifications. More informaticaon is available in the policy paper ‘Modernising digital outbound communications.’ Anyone who still wishes to receive paper communications will need to opt-out of digital communications in order to do so. HMRC debt management £64 million is to be invested over the next five years in HMRC’s existing partnerships with private sector debt collection agencies to collect more tax debt, with £89 million to be invested over the next five years to fund additional staff to increase HMRC’s capacity to collect more tax debt. An updated tax debt strategy was also published at the Budget which outlines HMRC’s approach to reducing tax debt as a percentage of receipts, and to improving debt management and taxpayer support. Construction Industry Scheme (CIS) HMRC’s powers to tackle fraud within the CIS are to be strengthened following the announcement that regulations for technical consultation will be published which aim to simplify and improve the administration of the scheme. The changes will take effect from 6 April 2026 and are being legislated for in Finance Bill 2025/26. Rewards for informants of high-value tax fraud The rewards paid to informants who provide HMRC with high-value information increased with immediate effect from Budget Day. For cases where tax over £1.5 million is recovered, HMRC will now pay rewards up to 30 percent of the additional tax collected that would otherwise have gone unpaid. Promoters of marketed tax avoidance New powers to close in on promoters of marketed tax avoidance are being legislated for in Finance Bill 2025/26. A consultation on further measures to tackle promoters is also to be launched in early 2026. Enhancing HMRC’s powers and sanctions against tax adviser facilitated non-compliance Earlier this year the Government consulted on the introduction of enhanced powers and sanctions to tackle tax advisers who facilitate non-compliance. Chartered Accountants Ireland responded to this technical consultation in September. The draft legislation for these powers is included in Finance Bill 2025/26 and will take effect from 1 April 2026. Non-compliance on the high street A new dedicated small business evasion and enforcement team is to be established to tackle non-compliance on the high street. The team will also deploy 350 HMRC criminal investigators to carry out more targeted criminal interventions to take on the most serious fraud and evasion by small businesses. Electronic sales suppression A call for evidence will be published in early 2026 which will set out the software standards for the Electronic and Mobile Point of Sale Sector that will also explore how best to embed standards across the latest products and innovations. Non-derecognition liabilities The government introduced a new anti-avoidance provision relating to certain arrangements where there is a non-derecognition liability from 26 November 2025 which is being legislated for in Finance Bill 2025/26. Recklessness offence for direct tax A consultation will launch in early 2026 on the introduction of a new ‘recklessness’ criminal offence for fraudulently evading direct taxes in order to align this with existing indirect tax offences. Hidden economy: expanding tax conditionality to new sectors The Government published a summary of responses to the ‘Tackling the hidden economy by expanding tax conditionality to new sectors’ consultation at the Budget and at the same time confirmed plans to extend tax conditionality to the waste and animal welfare sectors and additional transport licences. Draft legislation will be published for technical consultation in 2026. Publication of deliberate defaulters The framework for how HMRC publishes the details of deliberate defaulters is to be reformed in order to ‘bring forward changes next year.’ Making better use of third-party data The Government will acquire third-party data more frequently for interest income and card sales from April 2028. This is being legislated for in Finance Bill 2025/26. Cryptoasset Reporting Framework UK reporting Cryptoasset Service Providers will be required to report on their UK tax resident customers under the Cryptoasset Reporting Framework. Information for first reports to HMRC will be collected from 1 January 2026 and reported to HMRC in 2027. Enhancing tax transparency on real estate The UK is participating in a new international agreement underpinned by the OECD which will tackle tax evasion by providing for the automatic exchange of readily available information on real estate. Business systems integration To enable the automatic transfer of sales and purchase data into businesses’ accounting software, a Call for Evidence will be published in early 2026 to develop options to increase the uptake of business systems integration. Uncertain tax treatments A consultation will be launched in early 2026 on proposals to enhance the existing notification regime for uncertain tax treatments. Offshore anti-avoidance The Government set out its commitment ‘to ambitious reform and substantial simplification of the Personal Tax Offshore Anti-Avoidance Legislation.’ As a result, next steps for the Personal Tax Offshore Anti-Avoidance Call for Evidence were published.

From the tax treatment of State pension income above the frozen personal allowance threshold to company car and van tax, a range of measures featured in the Budget Red Book. The State pension The basic and new State pension will each increase by 4.8 percent from April 2026. The Pension Credit Standard Minimum Guarantee will also be uprated by the same amount from the same date. Pensioners whose sole income is the basic or new State pension (without any increments) have been told they will not have to pay small amounts of tax via Simple Assessment from 2027/28 if the new or basic State pension exceeds the personal allowance from that point. How this will work operationally is currently being explored with more detail expected next year. Company car and van tax The van benefit charge and the car and van fuel benefit charges will increase by Consumer Price Index inflation from 6 April 2026. A temporary benefit in kind tax easement for plugin hybrid electric vehicles will be included in the benefit in kind (BIK) system to prevent their tax charge increasing significantly due to new emissions standards. This easement will apply from 1 January 2025 to 5 April 2028. At Autumn Budget 2024, the Government announced that it would bring employee car ownership schemes into the scope of the BIK rules from 6 April 2026. To allow more time for the sector to prepare for and adapt to this change, implementation is being delayed to 6 April 2030, with transitional arrangements to apply until April 2031. Oil and gas price mechanism The temporary Energy Profits Levy (EPL) will be replaced by the permanent Oil and Gas Profits Mechanism (OGPM). This will be a revenue-based mechanism which only operates in times of high prices and will replace the EPL when it ends in 2030, or earlier if the EPL price floor is triggered. The rate will be 35 percent with thresholds of $90/barrel (oil) and 90p/therm (gas). Share Incentive Plan (SIP) A summary of responses to the 2023 Call for Evidence on the SIP and Save As You Earn were published alongside the Budget which sets out the next steps. Infected Blood Compensation Payments Updated legislation will confirm that payments made under the Blood Interim Compensation Payment Scheme are relieved from inheritance tax (IHT) in cases where the original infected or affected person eligible for compensation died before the compensation is paid. First living recipients of compensation payments will also have two years in which to gift some or all of the compensation payment without an IHT charge. This is being legislated for in Finance Bill 2025/26 and will apply to compensation payments made before or after 26 November 2025 and to gifts made on or after 4 December 2025. Charity compliance Finance Bill 2025/26 contains legislation which aims to strengthen the charity tax rules on tainted donations, approved investments, and non-charitable expenditure. These changes will take effect from 6 April 2026. Tax offer for high-talent new arrivals The Government will explore how to further develop its tax offer for high-talent new arrivals, to build on the success of the existing regime and bolster the ambition for the UK to remain a competitive destination for growth-driving global talent and support internationally mobile individuals to establish themselves and their businesses in the UK. The Government will seek views in due course to inform the design and scope of any potential enhanced offer. Climate change levy (CCL) The main rates of the CCL for gas, electricity and solid fuels will be uprated in line with RPI inflation from 1 April 2027. The main rate for liquefied petroleum gas will continue to be frozen. The reduced rates will remain at an unchanged fixed percentage of the main rates. Following a consultation at Spring Statement 2025, both electricity used in electrolysis to produce hydrogen and natural gas used as a source of CO2 in the production of sodium bicarbonate will be exempt from the CCL. Subject to parliamentary approval, these amendments will be in force by Spring 2026. Carbon price support Carbon price support rates in Great Britain have been frozen at a level equivalent to £18 per tonne of CO2 in 2027/28. Winter fuel payments The £35,000 threshold will be maintained for this Parliament. Visitor levy The Government will give Mayors in England powers to raise a visitor levy on overnight accommodation and explore the option for this power to be extended to the leaders of other strategic authorities. A consultation has therefore been launched on the design of the levy. Cryptoasset loans and liquidity pools A summary of responses to the ‘Taxation of decentralised finance (DeFi) involving the lending and staking of cryptoassets’ consultation has been published. Annual tax on enveloped dwellings (ATED) The ATED legislation will be updated to reflect the policy intent that relief from the ATED is available to companies holding property for qualifying commercial purposes. This includes relief claims within late ATED returns. Stamp Duty Land Tax (SDLT) The Government will amend SDLT rules so that property transferred within Local Government Pension Schemes are subject to a SDLT relief. This will be legislated in Finance Bill 2026/27. Capital allowances The 100 percent first year allowance (FYA) for qualifying expenditure on zero emission cars and on plant or machinery for electric vehicle charge points is extended a further year. The FYA will now be in place until 31 March 2027 for corporation tax purposes, and 5 April 2027 for income tax purposes.

Ahead of the 2024/25 normal online self-assessment (SA) filing deadline of 31 January 2026, we remind you that 30 December 2025 is the deadline to file 2024/25 SA returns online to ensure that a taxpayer can have their SA bill collected through their PAYE tax code when certain conditions are met. Any taxpayer who has received a simple assessment letter to pay tax outstanding for 2024/25 must do so dependent on the date the letter was received. If you get a 2024/25 simple assessment letter: before 31 October 2025, you must pay what you owe by 31 January 2026, or on or after 31 October 2025, you must pay what you owe within 3 months of the date of the letter.

In this week’s detailed miscellaneous updates which you can read more about below, HMRC has sent an email explaining the recent issues with child benefit payments being erroneously stopped for some claimants and emails are being sent to agents about company tax returns submitted before April 2025 that show future repayment dates for certain loans. A reminder has also been sent about paying employees earlier than usual in December. In other news this week: The minutes from the September 2025 Joint VAT Consultative Committee, which Chartered Accountants Ireland is represented on, are available, The Institute for Fiscal Studies has published a podcast ‘How to fix wealth taxes’, The House of Commons Library has published a further research briefing on the Autumn Budget 2025 and the Finance Bill 2025/26 and on 4 December 2025, members of the House of Lords debated the Budget, 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. Email from HMRC on child benefit payments HMRC has sent the following email about child benefit payment erroneously being suspended for some claimants. “We’re very sorry to those whose Child Benefit payments have been suspended incorrectly. Anyone affected should call the dedicated number on the letter we’ve sent them so we can confirm their eligibility and reinstate payments. We will no longer suspend any payments until we have checked with the recipient first, giving them a month to confirm if they are still eligible. This strikes the right balance between protecting taxpayers’ money and ensuring payments are only suspended when appropriate. Key background information        Having reviewed our processes, we will now be checking claims with customers first, by writing to them before suspending any payments, giving them one month to call us or write back. We are also streamlining the information we ask for from customers to prove their continuing eligibility, so they’re able to respond promptly. We have also re-introduced PAYE employment checks, meaning fewer people will be sent letters in the first place. We’re doing everything we can to ensure Child Benefit payments are only suspended when appropriate, and that any errors identified are rectified promptly, including resuming payments and making any backdated payments, so no-one is left out of pocket. Currently 23,489 letters have been issued. This means around 0.34% of child benefit claimants have had an enquiry opened and their payments suspended. We’re confident that the majority have been suspended correctly. Customers who have been sent one of these letters and who believe they are still eligible should call the number on the letter. We have now set up a dedicated team to handle their cases and a streamlined process for confirming their eligibility. These letters are not a scam. Child Benefit is paid to over 6.9 million families, supporting 11.9 million children. It is one of the most widely accessed forms of benefit in the UK. If a claimant is outside the UK for more than eight weeks, payments may stop unless there are exceptional circumstances.   Our specialist team is using international travel data, where this shows that customers have left the UK and may not have returned. Claimants must inform HMRC if they are outside the UK for 8 weeks or longer. A successful pilot saw thousands of people who had left the UK but carried on claiming removed from the system - with around £17m in wrongful payments prevented. A new specialist team is continuing this work and is expected to stop around £350 million in Child Benefit fraud and error over the next five years. It’s crucial that we undertake this work to protect taxpayers’ money.” HMRC emails to agents about company return with certain loans Last month HMRC began sending emails to around 1,300 Agents about corporation tax returns submitted before April 2025 which showed future repayment dates for directors’ and participator loans.  If the loans have not been repaid, then your client might not be due relief for the Section 455 tax which is due. The purpose of the email is to support agents to help clients get their returns right. These emails have already been added to the “genuine email” page on GOV.UK. Paying employees earlier in December Some employers need to pay their employees earlier than usual in December. This can be for several reasons, such as businesses closing during the festive period and needing to pay workers earlier than normal. This is to remind you of the permanent easement on reporting Real Time Information (RTI) that applies during this time. If you do pay early over the Christmas period, you must report your normal or contractual payment date on your Full Payment Submission (FPS). For example, if you pay on 19‌‌‌ ‌‌December 2025 but your normal payment date is 31 ‌‌‌December 2025, please report the payment date as 31‌‌‌ ‌‌December 2025. In this example the FPS would need to be sent on or before 31‌‌‌ ‌‌December 2025. Doing this helps to protect employees’ eligibility for income-based benefits such as Universal Credit, as an early payment could affect current and future entitlements. HMRC has published important updates and information for employers on GOV‌‌‌‌‌‌‌‌.UK, which includes: the October Employer Bulletin 2025 which reminds employers of the permanent easement on reporting RTI over the Christmas period, and help which can be found in CWG2 where a regular payment is made early at Christmas. The overriding PAYE reporting obligation for employers is unaffected by this exception and remains that you must report payments, on or before the date the employee is paid.  

In this week’s cross-border trading corner, we bring you the latest guidance updates and publications. 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 asked us to share an email on the Trader Integration Micro Service (TIMS) in support of ICS2 for Great Britain to Northern Ireland movements from the end of this month. The Poultry Health Scheme (PHS) handbook has also been updated. ICS2 and the TIMS HMRC has sent a further reminder about the implementation of ICS2 from the end of December in addition to FAQs and a document on arrival and presentation of goods notifications. “Email from HMRC You can use Import Control System 2 (ICS2) now to submit entry summary (ENS) declarations if you’re ready to do so. If you need more time, you must work with your supply chain to make sure you’re ready to start using ICS2 as soon as possible. This must be no later than 31 December 2025 when ICS2 becomes mandatory for all movements from Great Britain to Northern Ireland. Preparing to submit Arrival and Presentation notifications for GB-NI movements using the Trader Integration Micro Service (TIMS) We’re continuing to work towards the release of the free-to-use Trader Integration Micro Service (TIMS) and will confirm the release date soon. TIMS will facilitate the submission of ICS2 Arrival and Presentation of Goods notifications on your behalf for Roll-on/Roll-off (RoRo) movements from GB-NI only. If you already use the Trader Support Service (TSS) to auto-generate your Goods Movement Reference (GMR), you do not need to take any further action. If you don’t use the TSS to auto generate your GMR and wish to benefit from using TIMS, you should start to prepare now by ensuring you enter the ENS movement reference numbers (MRNs), when prompted, in the Goods Vehicle Movement Service (GVMS). No registration is required for TIMS and there is no cost to use it – once it is released, as long as your ENS MRNs are included in the relevant GMRs, TIMS will automatically submit your ICS2 Arrival and Presentation of Goods notifications for you for movements from GB-NI only. TIMS is not the only method for submitting your arrival and presentation notifications for your GB-NI movements. However, if you have included your ENS MRNs in your GMR, then TIMS will automatically submit these notifications. You won’t need to submit separate ICS2 Arrival and Presentation of Goods notifications for these MRNs.  Choosing not to include ENS MRNs in your GMRs? If you choose not to include ENS MRNs in your GMRs for GB-NI movements, you’ll need to purchase or develop your own software to submit Arrival and Presentation of Goods notifications, which are a mandatory part of the ICS2 requirements. Read the attached guidance to find out more about this. While we do not expect you to be submitting Arrival and Presentation of Goods notifications until TIMS has launched, if you’re planning to use another method we recommend preparing now. In the meantime, continue to use the Customs Declaration Service (CDS) or another customs process to fulfil Arrival and Presentation notifications requirements for your RoRo movements. Visit GOV.UK for more information on: ●using ICS2 Make an entry summary declaration using the Import Control System 2 – GOV.UK ●using TSS Sign up for the Trader Support Service - GOV.UK” Updated PHS handbook The Poultry Health Scheme (PHS) facilitates the export of poultry and hatching eggs by ensuring high standards of health and biosecurity. To ensure continued compliance with the scheme’s conditions, the PHS handbook has been updated. The full email from Government on this is as follows: “What’s New or Changed: A revised version of the PHS handbook has now been published. This update includes: New guidance for egg distribution centres Clarity on testing requirements for newly approved flocks and the 6-week wait period   Clarity on biosecurity, routine testing, record keeping and clinical examination A new summary of testing schedules The updated handbook is available on the Poultry Health Scheme page on GOV.UK. Actions Needed: All PHS members are advised to: Review the updated handbook in full Ensure your practices and documentation align with the revised guidance Contacts: For any questions or feedback, please contact the Customer Service Centre – One Health Team within Animal and Plant Health Agency (APHA): Email: CSCOneHealthPHS@apha.gov.uk Telephone: 03000 200 301.”

The latest UK tax tidbits features special rules on foreign travel and how to make a complaint about HMRC. Special tax rules on foreign travel (490: Chapter 7), Make a complaint about HMRC, Check genuine HMRC contact that uses more than one communication method, Register for Corporation Tax through a dependent agent permanent establishment, Register a non-resident company who disposed of UK property or land for Corporation Tax, Register an unincorporated association for Corporation Tax, Register an offshore property developer for Corporation Tax, Register a non-UK incorporated company for Corporation Tax if you're a UK resident, Find payroll software that is recognised by HMRC, Soft Drinks Industry Levy returns and records (notice 2), Submit your Soft Drinks Industry Levy return, Search the register of customs agents and express operators, Apply for Marriage Allowance by post, Signing up , Use Making Tax Digital for Income Tax, Check if an email you've received from HMRC is genuine, Check if a text message you've received from HMRC is genuine, Transfer of residence to the UK, Install Basic PAYE Tools onto a networked computer.

Revenue has updated its guidelines for determining employment status for taxation purposes to highlight the publication of the revised Code of Practice on Determining Employment Status in November 2024 by the Department of Social Protection, Revenue and the Workplace Relations Commission. Further minor updates have been made to reflect the publication of the EU Platform Work Directive.