Revenue has issued new guidance on the General Anti-Avoidance Rule and Protective Notifications providing guidance on the General Anti-Avoidance Rule (GAAR) and outlining the protective notification procedure. The manual provides guidance on the GAAR contained in section 811C TCA 1997 and it sets out the implications of entering into a ‘tax avoidance transaction’. The manual confirms that claiming a tax advantage from such a transaction can give rise to a tax avoidance surcharge, interest and additional tax arising on the withdrawal of the benefit by Revenue. Taxpayers have the option of filing a protective notice with Revenue to mitigate the consequences of Revenue assessing that the taxpayer has entered a tax avoidance transaction. Filing a protective notice affords the taxpayer a few benefits including protection from paying the tax avoidance surcharge in the event of the transaction being found to be a tax avoidance transaction under the GAAR. The new manual provides information on the protective notification procedures, including details on the forms to be completed to file a valid notification.

On 14 April, the European Council approved the European Commission’s proposal to postpone the dates of application of certain sustainability reporting and due diligence requirements. The proposal (often referred to the “Stop the clock” proposal) postpones;  by two years the entry into application of the Corporate Sustainability Reporting Directive (CSRD) requirements for large companies that have not yet started reporting, as well as listed SMEs, and  by one year the transposition deadline and the first phase of the application (covering the largest companies) of the Corporate Sustainability Due Diligence Directive (CSDDD).  Following the approval by the European Council, the legislative act was published in the EU’s Official Journal on 16 April. Member States, including Ireland, will be required to transpose the Directive into their national legislation by 31 December 2025. 

Welcome to the latest edition of Technical Roundup. In developments since the last edition, following public consultation last year IAASA has published a revised Ethical Standard for Auditors (Ireland).  The effective date of the revised standard is for audits of financial statements for periods beginning on or after 15 December 2026. Early adoption is permitted.  The European Council has approved the Commission's proposal to postpone certain sustainability reporting requirements.  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 Final Comment Letter on the IFRS Foundation’s Exposure Draft Proposed Amendments to the IFRS Foundation Due Process Handbook.  The IFRS Foundation is hosting episode 9 of its “Perspectives on Sustainability Disclosure” webinar on 24 April.  The Financial Reporting Council (FRC) has published the key observations from the pilot phase of its actuarial monitoring programme.  The FRC has announced the introduction of a quarterly consultation release schedule. This is intended to provide consistency and clarity for stakeholders as they prepare for and respond to consultations.  The European Securities and Markets Authority (ESMA) has issued a Consultation Paper on the new clearing thresholds under the review of the European Market Infrastructure Regulation (EMIR 3). The consultation will remain open for comments until 16 June which will be followed by a final report and submission of draft technical standards to the European Commission by end 2025.  The European Securities and Markets Authority (ESMA), has published the latest edition of its Spotlight on Markets Newsletter.  The UK Department for Business and Trade has announced the appointment of Paul Lee as the next UK Endorsement Board Chair.  Auditing  Following public consultation last year, IAASA has published a revised Ethical Standard for Auditors (Ireland). The effective date of the revised standard is for audits of financial statements for periods beginning on or after 15 December 2026. Early adoption is permitted.  The International Auditing and Assurance Standards Board (IAASB) has released its revised International Standard on Auditing 570 (Revised 2024), Going Concern. The revised standard responds to corporate failures that raised questions regarding auditors’ responsibilities by significantly enhancing the auditor’s work in evaluating management’s assessment of an entity’s ability to continue as a going concern. The revise standard is effective for audits of financial statements for periods beginning on or after 15 December 2026.  The IAASB also approved ISA 240 (Revised), The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements. The standard will be effective for periods beginning on or after December 15, 2026, which is the same effective date as for the revised going concern standard.  The IAASB have also withdrawn ISAE 3410 Assurance Engagements on Greenhouse Gas Statements, once ISSA 5000 on sustainability assurance becomes effective as ISSA 5000 addresses all sustainability assurance engagements, including greenhouse gas-related information.  Sustainability  On 14 April, the European Council approved the European Commission’s proposal to postpone the dates of application of certain sustainability reporting and due diligence requirements. The proposal (often referred to the “Stop the clock” proposal) postpones;  by two years the entry into application of the Corporate Sustainability Reporting Directive (CSRD) requirements for large companies that have not yet started reporting, as well as listed SMEs, and  by one year the transposition deadline and the first phase of the application (covering the largest companies) of the Corporate Sustainability Due Diligence Directive (CSDDD).  Following the approval by the European Council, the legislative act will be published in the EU’s Official Journal. Member States, including Ireland, will be required to transpose the Directive into their national legislation by 31 December 2025.  The International Sustainability Standards Board (ISSB) has issued its April 2025 update and podcast.  EFRAG has launched a call for input on the revision of the European Sustainability Reporting Standards (ESRSs) Set 1 with comments requested by 6 May 2025.  The IFRS Foundation and the Taskforce on Nature-related Financial Disclosures (TNFD) have signed a ‘Memorandum of Understanding’ (MoU) to formalise their collaboration.   Following on from the European Commission’s Omnibus Proposals, which seek to reduce the reporting burden on European Companies, Accountancy Europe has issued a statement addressing the ESRS Revision Due Process.  Economic Crime & Anti-money laundering   In April 2025 Accountancy Europe issued its new publication “New EU AML rules: advice for accountancy practitioners”. The document “…outlines concrete steps for accountancy practices, national institutes of accountants, auditors and advisors to take to be ready when the EU anti-money laundering and countering the financing of terrorism (AML/CFT) legislation takes effect in 2027….”  The European Banking Authority has recently issued its April EBA AML/CFT Newsletter which contains lots of information on AML matters. It includes news on crypto-assets and the EBA consultation on new rules related to the anti-money laundering and countering the financing of terrorism package AMLD6.  The Minister for Justice invites expressions of interest for appointment of ordinary members of the Advisory Council against Economic Crime and Corruption. The Council was established in 2022 following the Hamilton report. It advises and makes proposals on strategic and policy responses and is responsible for developing a multi-annual strategy to combat economic crime and corruption.  The UK National Crime Agency has published its latest SARs in action magazine Issue 31. You can read the SARs magazine from the link here.  Other news  The Institute has recently published a webpage on Economic Crime and Corporate Transparency Act 2023 - Changes in Companies House. The aim of this webpage is to inform members of the recent Companies House identity verification changes and how to register as an Authorised Corporate Service Provider.   Following the webinar the Institute hosted with Sean Tierney from the Corporate Enforcement Authority (CEA) on 25 March 2025 "Directors’ duties and responsibilities – what you need to know” we have published some of the questions and potential answers which were discussed at the webinar on the Business law and regulation pages on the Technical Hub.  Readers should also note that there are very useful FAQs on the CEA website – cea.gov.ie CEA-FAQs if readers have further questions about company law or the CEA’s work.   The Pensions Authority has published its supervisory activities report for 2024 which details observations and findings identified over the course of 2024.  The European Securities and Markets Authority (ESMA) has published its Consultation Paper on the remaining Regulatory Technical Standards (RTS) for external reviewers under the European Green Bonds Regulation.  On Monday, 7 April 2025 the European Insurance and Occupational Pensions Authority (EIOPA) launched its fifth EU-wide stress test for pension schemes (IORPs) which will focus on the impact of adverse market developments on the liquidity position of IORPs.   The European Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection Michael Mc Grath recently welcomed the launch of a new set of guidelines for businesses in Ireland. The guidelines focus on what traders must do to uphold consumer rights when selling goods and services, following the introduction of new rules in the Consumer Rights Act 2022. Click the link above to read more about the guides which cover consumer remedies in sale of goods contracts and consumer remedies in service contracts.  The Minister for Enterprise, Tourism and Employment, Peter Burke has announced government approval to accelerate the development of a new whole-of-government Action Plan on Competitiveness and Productivity with a suite of measures designed to bolster business resilience and support competitiveness.  For further technical information and updates please visit the Technical Hub on the Institute website.       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 this week, the US administration has announced a temporary suspension of tariffs on EU imports and a public consultation on the Research and Development tax credit has been launched. In UK news, the closing date for our short survey on Making Tax Digital for income tax is approaching and this week is your last opportunity to let us know your views on the UK e-invoicing consultation. In International news, the OECD/G20 Inclusive Framework on BEPS has issued a public statement. Ireland 1. Read about the temporary suspension of the recently announced US tariffs on EU imports. 2. The Department of Finance has launched a public consultation of the Research and Development tax credit and on options to support innovation. UK 3. There's still time to take our short survey on Making Tax Digital for Income Tax which closes next week. 4. This is your final opportunity to let us know your views on the UK e-invoicing consultation. International 5. Read the public statement issued by the Inclusive Framework on BEPS following a recent successful meeting. 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 post EU exit corner.    

  In this week’s Sustainability/ESG Bulletin read about the Irish Government’s Climate Action Plan 2025, Chartered Accountants Ireland’s letter to the Government highlighting SMEs’ sustainability needs, the new Business Energy Upgrades Schemes, new business opportunities to associate with native woodlands, ISIF’s additional €1bn committed to climate investments, and reports into Irelands’ Offshore Wind Strategy, the gender income gap, and EV sales. Also covered are developments in Europe, as well as the usual articles, resources and upcoming events, including the next ESG Network meeting.      Chartered Accountants Ireland news Accountancy Ireland goes digital Accountancy Ireland, the flagship publication from Chartered Accountants Ireland, has published its first fully digital edition in its more than 50 years of publication. In a sustainability-themed issue, April’s Accountancy Ireland includes articles on green energy, infrastructure, sustainability reporting, accounting for sustainability and perspectives from Institute members. Commenting, Institute President Barry Doyle, described the initiative as “reflect[ing] the Institute’s ongoing and long-term goal of reducing our environmental impact for a better tomorrow as articulated in our strategy. In reducing production inputs, transport and waste volumes, we strive to meet this goal for all our benefit.” Congratulations UrbanVolt! Chartered Accountants Ireland congratulates UrbanVolt for winning the ESG Company Award (SMEs) in the Business & Finance Media Group ESG Awards 2025, in partnership with Grant Thornton Ireland. Chartered Accountants Ireland was honoured to have been shortlisted in the category and congratulates all fellow nominees, and all winners, across the 15 categories. Institute shortlisted for Association and Institute Awards Chartered Accountants Ireland has been shortlisted for the Association and Institutes Awards in the following categories: The Rhapsode digital bookshelf for Best Publication The amalgamation for Best Collaboration Project Sustainability / ESG bulletin for Best Blog, Podcast or Video Congratulations to all our fellow nominees across over 19 categories and we look forward to the Awards on 12 June at Royal Marine Hotel, Dun Laoghaire!   IRELAND NEWS Government approves Climate Action Plan 2025 The Government has approved the Climate Action Plan 2025, the roadmap of actions to enable Ireland to achieve its climate objectives. This is the third statutory update to the plan since the Climate Action and Low Carbon Development (Amendment) Act 2021 was signed into law, committing Ireland to achieving by 2050 the transition to a climate-resilient, biodiversity-rich, environmentally sustainable and climate-neutral economy. Described as a ‘streamlined Climate Action Plan’, to be read in conjunction with Climate Action Plan 2024, the 2025 Plan aims to put climate solutions at the centre of Ireland’s social and economic development. It is also the final Climate Action Plan of the first 5-year Carbon Budget – marking an important midpoint in what has been called ‘the decade of climate action’. Institute highlights SME needs in response to Department of Environment, Climate and Communications consultation Chartered Accountants Ireland has responded to the Department of the Environment, Climate and Communications’ public consultation on its 2025-2028 Statement of Strategy. In our submission, we called for the Department to acknowledge the barriers preventing businesses, in particular SMEs, from playing a greater role in tackling the climate and biodiversity crises and to set out a series of clear, practical strategies to address these. Focus should also be given to better communicating the clear commercial opportunities that a transition to a low-carbon, climate-resilient and biodiversity rich economy can bring to Irish businesses. Review of the National Development Plan The Department of Public Expenditure, NDP Delivery and Reform (DPENDR) will commence a review of the National Development Plan, to be completed in July 2025. The review will cover all public capital investment to 2035, including among other things, the Infrastructure, Climate and Nature Fund. The National Development Plan sets out the investment priorities that will underpin the successful implementation of the National Planning Framework (NPF), included under Project Ireland 2040, and wider government policies. The review of the National Development Plan (NDP) will also include a climate assessment of any programmes receiving funding. New Business Energy Upgrades Scheme expands range of grants targeting SMEs Minister for Climate, Environment and Energy Darragh O'Brien officially launched the Business Energy Upgrades Scheme this week, expanding the range of Rapid Approval Grants targeted at SMEs to enable them carry out energy and emissions-saving investments. The range includes the Support Scheme for Energy Audits (SSEA) and the Non-Domestic Microgeneration Grant. These schemes aim to provide ‘substantial support’ to the SME sector to address energy costs and reduce emissions in their buildings, and are open to all businesses, and public bodies, who are upgrading a building they own or occupy. Opportunity for businesses to associate with native woodlands The Minister of State for Forestry, Farm Safety and Horticulture, Michael Healy-Rae, has announced the opening of the updated Woodland Environmental Fund, inviting businesses of all types and sizes to consider participating. In addition to the benefits to local landowners and to Ireland’s native woodlands, participating businesses stand to enhance the reputation of their businesses by association with the creation of “a significant tangible environmental asset that will become a permanent feature of the landscape”. The Minister described the Fund as “an ideal way for a business to exercise, and demonstrate, its corporate social responsibility, as the restoration of Ireland’s once-vast forests of oak, birch and alder delivers real environmental benefits, as well as providing additional income to farmers.” ISIF commits an additional €1bn to climate investments and €500m to Ireland’s regional cities The Ireland Strategic Investment Fund (ISIF), part of the National Treasury Management Agency (NTMA), has committed an additional €1bn to climate investments and €500m to Ireland’s five regional cities of Cork, Limerick, Galway, Waterford and Kilkenny. The announcement comes after new figures published by ISIF show it has exceeded its previous €1bn target for investments in climate and its previous €500m target for investing in regional cities, up to two years ahead of schedule. The new commitments will double ISIF’s commitments to both categories – bringing total climate commitments to €2bn and regional city commitments to €1bn over the next four years. The new commitments coincide with the publication of ISIF’s 10-years of Impact Report which sets out its progress since inception in late 2014. Progress report on Ireland's Offshore Wind Strategy Powering Prosperity Implementation Progress Report, the report published by the Department of Enterprise, Trade and Employment on the progress of Ireland’s Offshore Wind Industrial Strategy, has highlighted milestones in Ireland’s journey towards becoming a global leader in offshore renewable energy. The report states that 38 of the 40 actions outlined in the strategy are either completed or underway. The strategy, which launched in 2024, set out to capture the value of the country’s Offshore Renewable Energy (ORE) supply chain and maximise the economic impact of Ireland’s renewable energy goals. Report finds significant gender income gap persists despite rising number of women in paid work The Irish Human Rights and Equality Commission and the Economic and Social Research Institute have published a report which finds that despite rising numbers of women in paid work, a significant gender income gap persists. The report, Child Related Leave: Usage and Implications for Gender Equality, reveals that there are fewer women in the workforce than men, and that women are more likely to be in part-time work, usually due to caring responsibilities. The gender income gap usually emerges after the birth of a child and continues throughout a woman’s whole life. 84 percent increase in new plug-in hybrid electric vehicles purchased compared to 2024 New electric vehicles licensed in March 2025 rose by 31 percent compared with the same period last year, according to figures published by the Central Statistics Office (CSO) this week. The number of new electric vehicles licensed in March 2025 rose by 31 percent when compared with March 2024 (2,473 vs 1,884). The number of new plug-in hybrid electric vehicles (PHEV) licensed in March 2025 grew by 84 percent when compared with March 2024 (2,202 vs 1,195). Business in the Community Ireland launches 2025-2028 Strategy Business in the Community Ireland (BITCI), the Dublin-based not-for-profit that aims to drive sustainability and social inclusion in business, has launched its Strategy for Impact 2025-2028. The new strategy sets out its vision for supporting businesses to lead the transition to a net zero, nature-positive, and inclusive society. As part of its 25th anniversary celebrations, BITCI is also hosting a landmark conference entitled ‘Lead, Innovate, Achieve: Championing sustainability and social inclusion for 25 years’ in Dublin on 11 September.   EUROPE NEWS Omnibus given final green light The European Council has given its final green light on one of the Commission’s proposals to simplify EU rules. This so-called ‘Stop-the-clock’ proposal postpones the dates of application of the CSRD and CSDDD. Read more from Chartered Accountants Ireland here. Accountancy Europe’s April's Sustainability Newsletter Accountancy Europe’s April's Sustainability Newsletter has published and includes   latest news on the Omnibus ‘stop-the-clock’ proposal, EFRAG updates and more. Among the news covered is the reaffirmation by Accountancy Europe and the International Federation of Accountants (IFAC) of their commitment to high-quality and consistent sustainability assurance, and the proposals by the EU Platform on Sustainable Finance (PSF) of a voluntary and streamlined standard to help SMEs demonstrate their climate-related sustainability efforts. Strengthening society’s engagement with nature The European Environment Agency has published a briefing in support of the implementation of the EU’s Biodiversity Strategy for 2030 and Nature Restoration Regulation. It describes how cultural attitudes influence human interactions with nature, and reviews the societal factors needed to halt and reverse biodiversity loss. Seven key factors are identified as encouraging wide and continued societal engagement in protecting nature, such as ensuring evidence-based decision making and clear and efficient collaboration with stakeholders.  2024 European State of the Climate publishes The European State of the Climate 2024 (ESOTC 2024) report has found that Europe is the fastest-warming continent, and the impacts of climate change are clear. 2024 was the warmest year on record for Europe, with record temperatures in central, eastern and southeastern regions. Storms were often severe and flooding widespread, claiming at least 335 lives and affecting an estimated 413,000 people. During the year, there was a striking east-west contrast in climate conditions, with extremely dry and often record-warm conditions in the east, and warm but wet conditions in the west. The report was released this week by the Copernicus Climate Change Service (C3S) and the World Meteorological Organization (WMO) and involved approximately 100 scientific contributors. WORLD NEWS The IFRS Foundation’s International Sustainability Standards Board (ISSB) and the Taskforce on Nature-related Financial Disclosures (TNFD) have established a partnership to enhance nature-related financial disclosures for capital markets. This new agreement enables the IFRS and TNFD to share research, knowledge, and technical expertise, informing both the ISSB’s Biodiversity, Ecosystems, and Ecosystem Services (BEES) initiative and the nature-related aspects of its efforts to improve industry-focused SASB standards. Articles Climate Action Plan: Rules for car advertising, more energy-efficient buildings: What's in the new Climate Action Plan (The Journal)   Ireland not on 'clear path' to hit climate goals with plan (RTÉ)   Measures in 2025 climate plan will be at centre of social and economic development, Government says (Irish Times)   Making the business case for sustainability after the omnibus (Sustainable Views – Subscription) UK firms ditching diversity and inclusion ‘face higher risk of lawsuits’ (The Guardian)   When fathers don’t take family leave, workplace inequality persists (Irish Times)   “What gets measured gets done” – Catherine Duggan, Head of Sustainability for Grant Thornton on enterprising ESG practices (Business and Finance)   ‘We can’t sacrifice resilience on the altar of efficiency’ - Central Bank warns on deregulation drive (Business Post)   Climate crisis on track to destroy capitalism, warns top insurer (The Guardian)   Did you know? The Tallaght District Heating Scheme is the first large-scale district heating network of its kind in Ireland. To date it has generated almost 6,000 MWh of energy, saving 1,098 tCO2 as of June 2024, and is estimated to generate 270,000 MWh energy over its lifetime (25-35 years). It currently supplies heat to a number of public and residential buildings in the area using waste heat from the nearby Amazon data centre.   Resources Capitals Coalition newsletter Curious about how businesses and finance are redefining value for nature, people, and the economy? Each month, the Capitals Coalition newsletter brings fresh thinking, practical tools, and real-world examples from its global network, spotlighting how organisations are embedding natural, social, human and produced capital into decision-making. From policy shifts to project updates, events and good news, it’s a snapshot of where momentum is building and where you can join in. Subscribe here Chartered Accountants Worldwide - Difference Makers Discuss In case you missed it, Chartered Accountants Worldwide’s latest Difference Makers Discuss with Ainslie van Onselen and Carmine Di Noia, Director for Financial and Enterprise Affairs at the OECD is now available to stream on demand. This exclusive conversation explores: ✅ How finance professionals can tackle climate challenges & drive digital transformation ✅ The OECD’s work with global institutions to promote sustainability & social equity ✅ The evolving role of Chartered Accountants in an ESG-driven world ✅ Practical advice for young CEOs navigating today’s economic landscape ICAEW’s Sustainability Accelerator Programme ICAEW’s Sustainability Accelerator Programme has been designed to equip finance professionals with the strategic insight and technical expertise required to lead sustainability and ESG initiatives in today’s rapidly evolving business landscape. Incorporating ICAEW's popular Sustainability Certificate, this flexible series of elearning resources offers up to 50 hours of professional development.  Events Chartered Accountants Ireland, Chartered Accountants Ireland ESG Network meeting This meeting will be joined by three speakers: Elaine O’Regan,  Managing Editor, Accountancy Ireland will discuss the April Sustainability issue, and the rationale behind Accountancy Ireland becoming a fully digital publication; Laura Hueston, FCA, Co-Founder SustainabilityWorks will provide an update on the Omnibus, and role of sustainability in long-term viability of businesses regardless of row-back at EU and US level on sustainability reporting, Martina Goss, FCA, Business Coaching & Consulting, will discuss business model innovation & new product development: incorporating sustainability, lean methodologies and a new mindset for accountants Presentations from 2.00-3.00 will be followed by a group discussion from 3.00 – 3.30 Virtual (Zoom) email sustainability@charteredaccountants.ie if you want to join the ESG Network.   DCU, Dispatches from a changing climate: Engaging society through activism, storytelling and the arts  DCU’s Institute for Climate and Society annual conference will take place on Tuesday, 29 April on the DCU Glasnevin Campus with keynote speaker Mary Lawlor, UN Special Rapporteur on Human Rights Defenders. The conference will also feature a range of speakers from the arts, the media and academia.  In person, 29 April, Free, 09:00 to 17:00   NatCap, Measuring impacts in the supply chain The supply chain is where many of the most significant nature-related risks and opportunities lie, yet it remains one of the most challenging areas for businesses to measure and manage effectively. As regulatory and investor expectations rise, companies face increasing pressure to evaluate, assess, and manage the nature-related impacts of their supply chains. Join NatCap for a focused session on how to assess these impacts, generate actionable insights to identify priority areas for action, and prepare for evolving frameworks like the TNFD and CSRD (ESRS E4). Virtual, April 29, 12:00 PM   Cork District Society Chartered Accountants Ireland, Sustainability for Success Join us on Thursday, 15 May from 1-2pm for the first webinar in the Cork Society Chartered Accountants in Industry Webinar series on Sustainability for Success: How Freefoam is Building a Future-Fit Organisation with Kevin Cronin, COO and Sustainability Lead at Freefoam. Virtual, 15 May 2025, Free, 12.00-13.00   Chartered Accountants Ireland, The SME and SMP Sustainability Workshop A workshop for SMEs and small/medium accounting practices (SMPs) on how to get ahead of the sustainability curve. This interactive half-day session will focus on positive actions you can take to understand the ‘trickle-down’ effect of the Corporate Sustainability Reporting Directive ('CSRD’), green public procurement, access to sustainable finance, and how to make your practice more sustainable to save costs and respond to staff and client demands. Virtual, 23 May, 9.30- 12.30; €60 members; €75 non-members; 3 hours CPD points.   EPA, EPA Annual Climate Change Conference 2025 The EPA Annual Climate Change Conference will be held on Wednesday 28 May 2025 in Dublin Castle. Please save the date for this event. In person, May 28, 2025   Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.        

Burnout is a term we hear a lot of it when dealing with workplace stress and is a pressing issue for employees and students alike. Prolonged or severe workplace stress can lead to burnout. Here we discuss what burnout is and how we can deal with it to regain balance and begin to feel hopeful again. What is burnout? Burnout is a relatively new concept with the term first coined in 1974 by psychologist, Herbert Freudenberger. It is defined by the World Health Organisation (WHO) as “a syndrome conceptualised as resulting from chronic workplace stress that has not been successfully managed. It is characterised by three dimensions: feelings of energy depletion or exhaustion; increased mental distance from one’s job, or feelings of negativism or cynicism related to one's job; and reduced professional efficacy.” In 2019, burnout was recognised by the WHO as an ‘occupational phenomenon’. Feelings of burnout typically occur when you are overwhelmed at work and feel as if you can no longer keep up with the demands of the job. A large-scale study by Workhuman and Gallup found that employees in Ireland are suffering from burnout and stress more often than our European counterparts with 3 in 10 employees in Ireland reporting being burnt out very often or always. The same research found employees in Ireland are the most likely to report being stressed with 6.5 in 10 saying they experienced stress ‘a lot’ the previous day. We spend most of our waking life at work, so if we dislike it, dread going, and are extremely dissatisfied with what we are doing, it can place a serious toll on our lives. However, it is more than just the ‘Sunday Scaries’. Burnout is a gradual process and if left unaddressed can lead to many far-reaching and serious consequences. Therefore, it’s important to deal with burnout at an early stage. The burnout stages As mentioned previously, burnout isn’t a sudden onset, it develops gradually over time with symptoms and signs increasing in intensity. Research has identified that these 5 stages (outlined below) are commonly observed.   The Honeymoon Stage- this usually occurs at the start of a new job or project where productivity, optimism, energy and job satisfaction are high. Onset of Stress – like all honeymoon periods, these feelings begin to dwindle and wane. This stage is where we consciously become aware of work stressors. Chronic Stress – this stage is where we notice a marked difference in stress levels and intensity on a more frequent basis. Burnout – this is where we begin to reach our capacity limit and can no longer function like we normally would. Work and its issues begin to consume you and you tend to experience serious self-doubt and symptoms become persistent. Habitual Burnout – If left untreated, burnout can become embedded into our daily lives and we experience chronic mental and physical exhaustion and adverse behavioural changes. Symptoms of Burnout These are the signs to look-out for if you think you are reaching burnout. Symptoms of burnout are wide-ranging affecting us physically, emotionally and behaviourally. Getting sick more often - Burnout can cause long-term changes to your body, weakening immunity that makes you increasingly more vulnerable to illnesses like colds and flu. Frequent headaches, muscle pain, or gastrointestinal issues – caused by prolonged stress and being in fight or flight mode constantly. Pattern and habit changes – such as sleep issues or loss of appetite. Feeling tired and drained all the time – regardless of how much rest you get. Concentration issue due to overload. Low mood – loss of motivation, having an increasingly cynical/negative outlook, feeling detachment and withdrawing from others. Feeling helpless, trapped, and defeated. Procrastinating on tasks and duties and retreating from responsibility. Skipping work, arriving late and leaving early. Coping Strategies Early intervention is key for preventing burnout and reaching the latter stages of burnout. Burnout is a risk factor for other serious diseases such as depression, heart attacks, stroke, osteoporosis, diabetes, and reduced life expectancy. The good news is we can bounce back from burnout. But what can you do to avoid reaching total burnout? Take the time off work you need to recharge and assess your situation. Speak with your manager or HR department about your workload, how and what you are struggling with – do you have a lot on your plate work-wise? Could some tasks be delegated or put on pause? Know your boundaries and limitations- poor and blurred boundaries are the main reasons people reach burnout. Often, we can say yes to too many work requests that we may not necessarily be able to take on. It requires strength but don’t be afraid to say no to certain work projects or tasks. It is important to set clear work boundaries, take regular breaks and set a work schedule to protect your health. Look after yourself- move your body, try stress management techniques, make sure you sleep and rest enough, and feed your body with nutritious foods. Check out our article, foods to manage stress. Be compassionate and patient with yourself – recovering from burnout is not a linear process. Talk to a professional to discover coping strategies that will personally work for you. How we can help The Thrive Wellbeing Hub provides free emotional supports to members, students and family members. We offer a confidential space for you to talk, whether you need a listening ear, wellbeing advice or professional counselling, we are here for you. You can contact the thrive wellbeing team by email at: thrive@charteredaccountants.ie or by phone: (+353) 86 0243294

Moira Grassick explores the implications of the new gender pay gap reporting portal set to launch in Autumn 2025 Norma Foley, Minister for Children, Disability and Equality, has announced that a gender pay gap reporting portal will be launched in Autumn 2025.   This is a significant update for Irish businesses, as the Department estimates that about 6,000 companies will need to submit a gender pay gap report to the online portal this year.   Foley also indicated that the reporting deadline is expected in November.  Gender pay gap reporting to date The Gender Pay Gap Information Act 2021 requires businesses to publish a report detailing the hourly gender pay gap in their business, across a range of specified metrics. The Act is part of a wider initiative to improve gender equality in Ireland and, more specifically, aims to bring about greater pay parity between men and women.  Initially, when the requirement was introduced in 2022, only companies with 250 employees or more were required to submit a gender pay gap report. This threshold has been increasing gradually each year and, in 2025, any company with 50 employees or more will be required to file a report.    The portal: what you need to know  Up until this point, companies have been required to post their gender pay gap reports either on their own website or somewhere else accessible to the public.   As well as submitting statistics and figures on gender-based pay information within the business, employers have also been required to publish an explanation for any gender pay gap that does arise from those findings.   With the introduction of the new portal, this system will change.   Once launched, employers will be required to upload their pay gap reports directly to the portal, and not just on their own website.   New reporting deadline  As well as announcing the upcoming launch of the portal, the Minister for Children, Disability and Equality also suggested that the reporting deadline this year will take place in November, and not in December as was the case in previous years.   Employers will be required to gather their gender pay gap data on a ‘snapshot’ date in June, and to publish those results in November. The exact reporting date will depend on the snapshot date selected by the employer. For example, if a business chooses 5 June as their snapshot date, they will be required to publish the results on the portal by 5 November.   Transparency and accountability If your business employs 50 or more staff and you need to file a gender pay gap report in November, it's essential to understand the required publishing method. Once launched, you must submit your report directly through the online portal.  The portal's design could enhance public access to gender pay gap reports compared to before. Individuals will be able to search all gender pay gap reports on one platform, facilitating easier comparison of multiple reports simultaneously and enabling clearer conclusions and comparisons. Moira Grassick is Chief Operating Officer at Peninsula

Sustainable HR practices enhance corporate responsibility and workplace culture, attracting top talent and driving long-term success, writes Neil Hughes Sustainable HR can be viewed through two lenses. First, as a means to support initiatives that align with an organisation’s corporate social responsibility (CSR), and second, to create policies and practices that enable a sustainable workplace culture.  The Society for Human Resource Management recently reported that more than 65 percent of job seekers favour firms with sustainable HR practices. This creates a challenge for senior leaders and human resources (HR) functions to introduce sustainable HR practices that attract, retain and develop employees. Embedding sustainability across people practices HR functions can integrate sustainable HR methods throughout all people practices, including recruitment and onboarding, learning and development, performance management and hybrid working policies.  Introducing sustainable initiatives drives both operational and cultural change and supports the organisation in achieving CSR commitments and improving corporate image. Additionally, sustainable HR fosters a culture of responsibility, enhances employee engagement and contributes to long-term business success.  Recruitment functions that create sustainable ways of attracting, assessing and onboarding new staff will gain a significant competitive advantage in the ‘war for talent’. For instance, processes that are highly automated improve the candidate experience and contribute to sustainable practices.  We have seen a marked increase in HR functions designing and delivering learning and development (L&D) interventions that educate and upskill their employees on environmental and sustainable practices. L&D courses can be used to promote green initiatives such as reducing energy consumption and single-use plastics, promoting recycling, raising employee awareness and promoting action. Organisations that empower their employees with knowledge and skills in this area improve their ability to contribute to the company’s environmental, social, and governance (ESG) goals. Some organisations offer the opportunity to achieve a diploma in business sustainability and provide courses that are CPD accredited.  We have also seen L&D functions become more aware of delivering learning in a sustainable way. For example, facilitating learning online rather than requiring staff to travel to face-to-face learning events. Driving engagement and long-term cultural change An important factor in our people’s motivation is their ability to make the connection between their work responsibilities and their organisation’s purpose and goals. HR functions can facilitate this connection by embedding the company’s values throughout all procedures, policies and initiatives. Additionally, sustainability can be linked to and reflected in performance evaluations.  Recognising employees who contribute to sustainability goals can incentivise further commitment across the workforce.  Importantly, HR functions should encourage employees to get involved and set the tone that achieving sustainability targets will be a collaborative effort. Employees will often have ideas that could prove valuable in enhancing the company’s approach, and establishing a space for them to comfortably share these ideas through an employee-led sustainability group can work well. Most employees recognise the social and environmental benefits of hybrid working. This is one of the most accessible and impactful sustainable HR practices that helps to reduce emissions while increasing flexibility and supporting individuals with an improved work-life balance. By implementing programmes that support physical and mental health, HR can help create a more resilient and productive workforce. All the evidence shows that sustainable HR practices benefit employee and organisational performance by improving retention, reputation, and engagement. It is clear that sustainable HR practices create a positive work environment. So, how will you begin? Neil Hughes is a Director in Grant Thornton’s People and Change Consulting practice

Who should drive your firm's growth? Mary Cloonan explores whether individual partners or a dedicated leader best fuels expansion Every ambitious firm wants growth, but who should take ownership of it? Is it down to individual partners, or does the firm need a dedicated leader to drive expansion? Many firms have treated growth as an afterthought. Yet, in today’s highly competitive market, this approach is insufficient. The firms that thrive are the ones that prioritise growth across the entire organisation, instead of depending solely on a handful of standout performers. There’s no single answer to the question of who should lead growth, but some models work, particularly in more mature markets like the US, UK, and Australia, where firms have refined their approach for years. Why growth needs to be intentional Growth isn’t just about winning new clients; it’s about maximising opportunities across the board and deepening existing relationships, expanding into new markets, and ensuring that every part of the firm contributes to revenue generation. Whether your firm is backed by private equity or partner-led, the real question is: are you making the most of the opportunities in front of you? Growth is often left to chance. Some partners excel at winning work, while others concentrate on execution. However, when growth relies solely on personal initiative, opportunities can be missed. Implementing a more structured approach ensures that business development isn’t just an added benefit – it’s built into the firm’s DNA. Three effective models for driving growth Firms take different approaches depending on their structure, leadership style, and ambitions. To ensure growth is prioritised and embedded, they use three models. 1. The Chief Growth Officer (CGO) model – a unified approach Appointing a Chief Growth Officer (CGO) can be a game-changer for firms that want a clear, structured approach to growth. This leadership role integrates business development, marketing, client experience and cross selling, ensuring that growth is planned, measured and executed effectively. Rather than simply focusing on new business, a CGO takes responsibility for the entire client journey:  Business development strategy – Aligning development, marketing and client expansion with the firm’s long-term goals. Client experience and retention – Ensuring clients receive excellent service, encouraging referrals and long-term loyalty. Cross-selling and collaboration – Breaking down silos and helping different service lines work together to identify opportunities. Market positioning and thought leadership – Raising the firm’s profile in key sectors to attract high-value clients. Data-driven growth insights – Using client and market data to identify trends and opportunities. This model works well for larger firms, particularly those with ambitious growth plans or PE investment. It ensures growth is handled strategically rather than left to individual efforts. 2. The partner-led growth model – with structure & accountability Many firms still prefer a partner-led approach to business development. This approach can work well if it has structure and accountability. Business development isn’t just left to chance in firms that succeed with this model. Instead, there’s a clear framework: Partners have individual growth targets that are measured and reviewed. Client expansion strategies are mapped out rather than being ad-hoc. There's support from marketing and business development teams to enable partners to focus on high-value relationships. Business development is built into the firm's culture, rather than being something squeezed in between client work. For this model to work, there needs to be a firm-wide commitment to growth, not just an expectation that some partners will bring in work while others don't. 3. The hybrid model – growth champions and collaboration A middle ground between a centralised CGO and a fully partner-driven model is to appoint “growth champions” within the firm. These are senior partners or directors who take responsibility for business development within their practice area or sector. They focus on: Developing relationships and identifying opportunities in their market. Encouraging collaboration between service lines to increase cross-selling. Working with marketing and BD teams to ensure the firm’s positioning aligns with market demand. This approach works well in mid-sized firms where partners are engaged in growth but need more structure and coordination. Your firm’s growth model The best approach depends on the size, ambition, and market focus of the firm: Smaller firms may not need a CGO but should have a structured growth committee. Mid-sized firms often benefit from a hybrid model that balances accountability with collaboration. Larger firms, particularly those preparing for a merger or acquisition or private equity investment, gain the most from a dedicated CGO. What matters most is that growth is not left to chance. Regardless of the model, firms that take growth seriously and build a strategy around it succeed. Your firm and culture Growth isn’t something that just happens. It’s something firms need to be intentional about. In a numbers-based world, there will only be one indicator to say what is right for your firm so tracking the growth KPIs is key to understanding what will work best in your firm with your culture. Mary Cloonan is Founder of Marketing Clever

Revenue has updated its guidance on the VAT Repayment Offset removing the option to offset a VAT repayment against a debt warehouse period as the debt warehouse scheme has ended.

Revenue has published new guidance on the Tax Treatment of CervicalCheck Payments outlining details of relevant tax exemptions announced by the Minister of Finance in Budget 2025. The tax exemptions relate to payments made to certain women impacted by failures in the CervicalCheck national screening programme and include payments made under the CervicalCheck non-disclosure ex-gratia Scheme, the CervicalCheck Tribunal Act 2019, and claims concluded by way of settlement and court order.

The accelerated wear and tear allowances scheme for farm safety equipment was expanded by Finance Act 2024 to provide for an expanded list of eligible farm safety equipment. The expanded scheme was launched last week by Minister for Agriculture, Food and the Marine, Martin Heydon TD, and Minister of State with responsibility for Farm Safety, Michael Healy-Rae TD. The accelerated capital allowance scheme complements grant aid which is available under TAMS3 for safety-related investments. Any grants received for qualifying equipment should be deducted from the qualifying expenditure hence only the net cost qualifies for the accelerated capital allowance scheme. A certification process applies to the scheme. Farmers who receive a qualifying certificate can avail of 50 percent capital allowances per annum on qualifying investments to be claimed over an accelerated two-year period. This compares to the standard period of eight years for plant and machinery. The allowance should be claimed on the farmer’s tax return. At the launch of the scheme, Minister for Finance, Paschal Donohoe said: “This scheme of accelerated capital allowances for farm safety equipment and the recently expanded list of eligible equipment shows the commitment of this Government to farm safety. This scheme will assist farmers in safe proofing their farms and I encourage all farmers to avail of this scheme.”