TaxSource Total is Chartered Accountants Ireland searchable, complete and freely available online tax resource. This excellent online resource has now been updated for Finance Act 2024. The legislation available includes the Taxes Consolidation Act 1997, the Stamp Duty Consolidation Act 1999, the Capital Acquisitions Tax Consolidation Act 2003, and the Value-Added Tax Consolidation Act 2010.  (Please note that previous users may need to clear their cache (Ctrl+F5) to enable access to the updated content.) 

As we reported last week, the Institute officially launched its latest policy paper on 12 June ‘Enhancing Our Competitiveness – The Case for a Reduced Rate of Corporation Tax in Northern Ireland’. This is a key strategic objective in our lobbying activity reflecting the fact that in a survey of our members in February, 60 percent continue to signal their support for the activation of NI’s devolved powers to set its own corporation tax rate. Members who attended the launch in Belfast have been sharing their perspectives on why the time is right and how the economy will benefit. 

The Institute, under the auspices of the CCAB-I, made representations on behalf of members at last week’s meeting of the Tax Administration Liaison Committee (TALC) Collections sub-committee. Among the issues discussed, Revenue provided clarity on the tax clearance requirement for Residential Premises Rental Income Relief claims, provided an update on its banking modernisation programme, and advised that the PAYE Exclusion Order application is going online. Minutes of the meeting will be available in due course. Residential Premises Rental Income Relief & Tax Clearance Residential Premises Rental Income Relief (RPRIR) contained in section 480C TCA 1997 provides an income tax relief for landlords with qualifying residential premises rental income. It requires landlords with residential property wishing to claim the relief to have tax clearance on 31 December 2024. However, as it is a new relief, landlords who may have been tax compliant on 31 December 2024 may not necessarily have held a clearance certificate on that date. Revenue has confirmed that on an administrative basis, it will accept the landlord’s current tax clearance at the time of filing the tax return. Revenue will update the relevant guidance to reflect this position. A landlord filing a Form 12 income tax return without a current tax clearance in place at the time will see an error message to prompt them to apply for a tax clearance prior to filing. ROS issues with RPRIR Revenue is aware of issues with the ROS Form 11 calculation of Residential Premises Rental Income Relief (RPRIR) for properties with shared ownership in jointly assessed cases. A fix for RPRIP in the Form 11 will be released on 21 June 2025. Revenue will correct any submissions that have been made before that date. Local Property Tax Revenue noted that there are 2.1 million residential properties owned by 1.4 million taxpayers with 95 percent payment compliance to date. Revenue is aware of approx. 17,000 taxpayers registered for either income tax or corporation tax with an exposure to the Local Property Tax (LPT) surcharge if they file an income/corporation tax return before they pay their LPT liability. Revenue wishes to remind agents to check that their clients are LPT compliant before the filing deadline and, if required, put in place a separate agent link which is necessary for each property. Revenue is encouraging agents to check LPT compliance with their clients well in advance of the income/corporation tax filing deadlines to avoid unnecessary delays. A revaluation of properties for LPT purposes will be required on 1 November 2025 and Revenue will commence a bulk issue campaign in mid-September advising them of the changes and their obligations. Form 50A request for offset CCAB-I has received feedback from members reporting delays in Revenue approving F50A offset requests and which is resulting in taxpayers incurring interest charges on late payment of tax, although the money is with Revenue. Based on CCAB-I’s feedback Revenue informed the group that it will mark F50A offset requests as priority so the offset is available when the other activity happens. Banking Modernisation A new payments hub panel will be available on the ROS landing page in mid-August to manage bank account details and create new variable direct debit (VDD) mandates. Taxpayers will be able to see payment activity and status. Guidance will be updated accordingly. The VAT fixed direct debit (FDD) scheme will begin to be wound down from August 2025. VAT FDD taxpayers will be moved to pay and file VAT returns on a  bi-monthly basis but, where applicable, they can opt to file tri/bi-annually. In September 2025, taxpayers paying preliminary tax by direct debit will be migrated to the new payments hub. They will be required to complete and return a new direct debit mandate which will be sent to them by Revenue. Linked agents will be copied on the request. In 2026 Revenue intends to integrate the remaining direct debit arrangements (LPT, VHT, NLWT and C&E) onto the payments hub. It hopes to replace RDIs with VDDs for most tax heads removing the necessity for taxpayers to ‘push’ payments to Revenue. The single debit instruction (SDI) may be redesigned to have future dated SDIs. Revenue will also endeavour to migrate RCT to the payments hub at a later date. Revenue also informed the meeting that it will no longer accept payment by commercial debit card from 1 September 2025. PAYE exclusion order going ‘live’ Revenue informed the group that the PAYE exclusion order application process is going online. The paper system will continue to run in tandem for a period of time and the Tax and Duty Manual and notes for guidance will be updated in due course. Revenue has advised that there is no separate permission required to apply for PAYE exclusion orders but the agent does have to be linked to the applicant in order to apply on behalf of the applicant. If agents are applying on behalf of an employer or a  PAYE employee, they must be the PREM/ payroll agent or the PAYE agent on record.

The OECD has published a report titled Tax Administration Digitalisation and Digital Transformation Initiatives on the use of technology by tax administrations globally. The report provides useful insight to tax administrations considering relevant domestic reforms and may help identify opportunities for future collaboration between tax jurisdictions.

On Wednesday 25 June, the meeting of the EU Parliament sub-committee on tax matters will include a workshop on the study of tax barriers and cross-border workers and tackling the fragmentation of the EU tax framework.

Antigua and Barbuda signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS). This represents an important milestone as the 105th jurisdiction joins the landmark agreement to strengthen the global tax treaty network.

On 17 June, Chartered Accountants Ireland hosted a webinar 'Why nature matters for accountants' 55% of global GDP – c. US$58 trillion – is dependent on nature & biodiversity. Nature is a core strategic business management issue, affecting financial performance, enterprise value and market competitiveness. In the webinar, speakers Rosie Dunscombe FCA and Dr Catherine Farrell explained: 🪴What is nature and why does it matter to business (global and local)? ❓What is meant by 'dependencies, impacts, risks and opportunities' in the context of nature 🏫How can businesses collaborate effectively with nature ❓The role of accountants in considering nature in their work 💻How to integrate nature into your work 5️⃣ Deep-dive into 5 key roles for accountants: board member | senior manager | analyst | report preparer | external auditor/assurance practitioners. A recording of this webinar is available to view, for free and on demand, HERE A copy of the slides available to view HERE

  In this week’s Sustainability/ESG Bulletin you can find a link to our webinar ‘Why Nature Matters to Accountants’, news of the Just Transition Commission’s first report, Ireland’s need to build climate resilience, and the launch of new resources launched to support SMEs with energy renovations. Also covered is how businesses in Ireland and Northern Ireland view sustainability, the provisional agreement reached on CBAM in the EU, a study on the ‘massive’ returns on climate adaptation investments, the launch of an online tool designed to help SMEs maximize the benefits of incorporating sustainability into their strategy and business operations, and the usual articles, resources and events.     Chartered Accountants Ireland Chartered Accountants Ireland has hosted a webinar on Why Nature Matters to Accountants, showing accountants how they can get on top of this business-critical issue. Watch back here: https://www.youtube.com/watch?v=n5sRUeGhBAs. Speakers included Dee Moran, Institute’s Head of Professional Accounting, Trinity’s Dr Catherine Farrell and Rosie Dunscombe, FCA and co-author of the Global Accounting Alliance’s Why Nature Matters to Accountants. Slides available via sustainability@charteredaccountants.ie   Ireland Ireland must rapidly build climate resilience, Taoiseach warns Taoiseach Michael Martin has warned that Ireland must rapidly build climate resilience as adapting to the escalating impacts of climate change becomes a central focus for the country. The Taoiseach was speaking at the National Economic Dialogue which is held annually and brings together representatives from across different groups in society to discuss the framing of economic and budgetary policy. With climate risks increasingly spanning all sectors of our economy, society, and environment, the Taoiseach stated: “Change is underway across our economy and society to realign ourselves for a low-carbon future. Decarbonisation, reducing emissions, is now at the heart of all our policies and sectors.”   Just Transition Commission’s first report calls for shared vision The first report of Ireland’s Just Transition Commission has urged the Government to develop a ‘bold and forward-looking strategy’ that places just transition at the heart of national climate action. Key recommendations in the report, which published this week, include developing a clear, strategic vision for a just transition that moves beyond siloed or reactive approaches, and strengthening the governance of the just transition by integrating it into the annual climate policy cycle with clear targets and sectoral actions.  The Just Transition Commission is independent advisory body established to advise the government on a fair and equitable transition to a climate-neutral economy.   Majority of businesses rank sustainability as an important day-to-day issue New research carried out on behalf of the Department of Enterprise, Tourism and Employment has found that four in five businesses (83 percent) believe sustainability is important to them on a day-to-day basis. Many have already taken steps to become more sustainable, with 63 percent of the businesses surveyed having addressed their waste, 41 percent their water usage and nearly half (49 percent) having taken steps to address energy efficiency. Just over one in three – mostly the medium/larger SMEs – also have a written sustainability strategy in place. The research is part of a survey of over 300 SMEs to identify what factors motivate small and micro businesses to become more sustainable, with findings published on enterprise.gov.ie.   Green Public Procurement in Ireland Remanufactured Laptops Framework The Office of Government Procurement (OGP) has published a case study on remanufactured laptops available for purchase for organisations through the BuyerZone of the OGP’s public procurement platform. The measure is part of the OGP’s commitment to offering value for money and contributing to the circular economy through its Remanufactured Laptops Framework established in 2024.   EV charging updates Minister for Transport Darragh O’Brien has announced the sites of 53 new high-power recharging hubs to service the expanding electric vehicle (EV) fleet across Ireland’s national road network. An allocation of almost €8 million will be provided to support grants for recharging infrastructure at the selected sites, with chargers set to be in place by the end of this year. The announcement is part of a wider plan to build a reliable recharging network across the country, with the distance between recharging hubs to be 60km or less. Enterprises such as petrol/service station operators, car park owners, hotels, supermarkets/retail outlets, and others with publicly accessible sites, could apply through a competitive grant process for funding. The total allocation for this aspect is €7.9 million. Separately, Minister O’Brien has announced that the 2025 Electric Small Public Service Vehicle (eSPSV25) Grant Scheme will re-open on Monday 23 June. Since its inception in 2018, the eSPSV Grant Scheme has facilitated over 3,200 SPSV operators to make the switch to electric vehicles.   Call for views on making Ireland’s transport system more resilient The Department of Transport has invited public views on a plan which sets out how Ireland’s transport system can become more resilient to the effects of climate change. The consultation on the revised Transport Climate Change Sectoral Adaptation Plan (T-SAP II) invites feedback from anyone who uses, works in, or depends on Ireland’s transport system. Unlike other climate plans, which focus on climate change mitigation – reducing emissions – this plan focuses on adaptation, i.e. preparing for the changes that are already happening, like flooding and storms. The plan draws on updated science and data, and strong integration across sectors and regions, and the consultation and is open until Friday 4 July 2025. Separately, the Climate Change Advisory Council (CCAC), has said that the transport sector, which saw emissions decrease by an estimated 1.3 percent last year, needs urgent government intervention to support sustained emissions reductions. It has reportedly called for a “comprehensive review of taxation in the transport sector” by the Department of Finance, including of carbon tax, distance-based charges, excise duty, fuel pricing motor tax and VRT, to completed by the end of the first carbon budget in 2025m and aligning with the polluter-pays principle. The CCAC is the independent body tasked with assessing and advising on how Ireland can achieve the transition to a climate-resilient, biodiversity-rich, environmentally sustainable and climate-neutral economy.   Cross-border commitment to the North-South Interconnector reaffirmed Minister for Transport Darragh O’Brien has reaffirmed the Irish Government's commitment to the North-South Interconnector, speaking of a "clear and shared desire to advance [the] project due to the significant benefits it will deliver for consumers and businesses across the island”. Both Minister O’Brien, and Minister for the Economy, Caoimhe Archibald representing the Northern Ireland Executive, emphasised that electricity grid projects, such as the North-South Interconnector, are vital for improving energy affordability, enhancing energy security and reducing emissions across the island of Ireland. Commenting, Minister Archibald described energy decarbonisation as presenting “shared opportunities and challenges” and that by working together, both jurisdictions can deliver a net zero future with opportunities an opportunity for a fairer and more prosperous economy.   UK/Northern Ireland Report notes decrease in Northern Ireland’s emissions Northern Ireland’s 2022 greenhouse gas emissions reduced by 26 percent since 1990, according to the recently released 17th annual Northern Ireland Environmental Statistics Report. The report, published by the Department of Agriculture, Environment and Rural Affairs (DAERA), also found that the level of public concern about environmental issues was high in 2024/25, with 73 percent very or fairly concerned about the environment.   Report notes decrease percentage of electricity consumption generated from renewable sources in Northern Ireland A report detailing the percentage of electricity consumption generated from renewable sources in Northern Ireland shows a decrease of 2.4 percentage points on the previous 12-month period (year ending March 2024). The report excludes microgeneration, non-export generating stations and any imported electricity derived from known or unknown renewable sources. Commenting, Steven Agnew, Director RenewableNI called on policy makers to prioritise the delivery of the new renewable electricity support scheme, commit to complete the North South Interconnector before 2030 and deliver an effective system for long duration energy storage.  “What’s crucial to keep in mind is that not only is Northern Ireland obliged to reach 80% renewables by 2030 through the Climate Act, achieving this goal will bring significant rewards with it for our economy, the environment and consumers.”   FRC overhauls Investor Stewardship Code to focus on value creation, reducing burdens and enhanced engagement between market participants The Financial Reporting Council (FRC) has published the UK Stewardship Code 2026 which aims to support long-term sustainable value creation while significantly reducing the reporting burden for signatories. The new Code, which currently has nearly 300 signatories who represent around £50 trillion in assets under management, will take effect from 1 January 2026. It includes an updated definition of stewardship as “responsible allocation, management and oversight of capital to create long-term sustainable value for clients and beneficiaries”. After the Code's introduction on 1 January 2026, a transition year will follow, during which no existing signatories will be removed from the signatory list following their 2026 application. The aim of this is to give signatories time to familiarise themselves with the Code's new format.   Sustainability and net zero intentions ‘not translating into action’ InterTradeIreland’s latest All-island Business Monitor survey has found that SMEs’ intentions around sustainability and net zero are not translating into action, and that companies do not have the time to focus on strategic priorities like skills development, sustainability, and competitiveness. Over half (55 percent) of survey respondents recognised the importance of sustainability and reaching net zero to their business, but only 17 percent currently have a plan in place, with a further 12 percent developing one. Among those without a net-zero strategy, eight in ten (86 percent) do not expect to have one within the next three years and four in ten (41 percent) cited the demands of daily operations as taking precedence over sustainability planning.  The survey, which is the biggest of its type across the island, collects the views of 750 business owners and managers. It was conducted between 7 April and 9 of May, immediately after the announcement of new US trade tariffs.   Resources to support members in sustainable finance education An article has been published jointly by the professional bodies represented by The Sustainable Finance Education Charter (SFEC) outlining various resources to support their members, and recommending future activities to build capacity across its members and to help accelerate action in embedding nature into financial decision-making. The Charter is the UK’s main policy mechanism to improve sustainability-related skills and expertise to support green and sustainable finance policy delivery. It is a partnership between 14 leading global professional bodies with more than 1 million members, Department for Energy Security and Net Zero (DESNZ), and the UK’s Green Finance Institute.   EUROPE Provisional political agreement on CBAM proposal Provisional political agreement has been reached between the European Parliament and the on the Commission proposal to simplify and strengthen the EU's carbon border adjustment mechanism (CBAM). The simplification seeks to provide cost-efficient compliance improvements to the CBAM regulation, without compromising its climate goals.  The European Parliament and the Council must now formally adopt the package before it can enter into force. It will enter into force 20 days after its publication in the Official Journal of the EU.   WORLD IFAC launches ‘The Small Business Sustainability Checklist’ The International Federation of Accountants (IFAC), in collaboration with the Edinburgh Group (EG), has launched a pioneering online tool designed to help small- and medium-sized enterprises (SMEs) maximize the benefits of incorporating sustainability into their strategy and business operations. Developed specifically for IFAC and EG members to provide to their own members, The Small Business Sustainability Checklist is an interactive tool that provides practical steps to future-proof businesses and boost sustainability practices. It is designed to be tailored by each business according to its industry sector, lifecycle, and products and services. According to IFAC’s press release states, the checklist “empowers accountants to position themselves as sustainability leaders within their firms while also guiding their clients toward their own sustainability goals.”   Building Capacity & an Effective Sustainability Reporting Ecosystem for SME IFAC and others are hosting Building Capacity & an Effective Sustainability Reporting Ecosystem for SME a 45-minute fireside chat to mark UN Micro-, Small and Medium-sized Enterprises (MSME) Day on 25 June. Co-hosted by IFAC, OECD, The World Bank Centre for Financial and Sustainability Reporting Reform and UNCTAD, a panel of experts will explore the role of international organizations and the accountancy profession in building capacity within SMEs. The speakers will explore why building capacity for sustainability reporting is crucial for SMEs and how they can overcome common challenges—from navigating reporting requirements to accessing digital solutions and expert support.   Study finds climate adaptation investments yield “massive returns” A study by the World Resources Institute has found that climate adaptation investments yield significant returns. The study, which analyzed 320 adaptation and resilience investments across 12 countries totaling $133 billion, found that every $1 invested in adaptation and resilience generates more than $10 in benefits over 10 years. Commenting, Sam Mugume Koojo, Co-Chair of the Coalition of Finance Ministers for Climate Action, said that “This research has pried open the lid on what resilience is truly worth — and even that first glimpse is staggering”. The study also reveals that over 50 percent of the documented benefits occur even if climate-related disasters do not happen. Technical Round Up (From our colleagues in Professional Accounting on 6 June) Wim Bartels, Chair of Accountancy Europe’s Sustainability Policy Group and member of EFRAG’s Sustainability Reporting Board, spoke on behalf of Accountancy Europe at the European Parliament (EP) Legal Affairs Committee hearing on sustainability reporting obligations on 13 May. During this, he shared some of the early insights of the CSRD and ESRD based on the first year of implementation. The International Sustainability Standards Board (ISSB) May 2025 update and podcast have been published. The International Sustainability Standards Board (ISSB) has published the recording of its tenth 'Perspectives on sustainability disclosure' webinar. The webinar is titled ‘Governance of sustainability-related risks and opportunities’. (From our colleagues in Professional Accounting on 20 June) The IFRS Foundation is joining London Climate Action Week from 21–29 June 2025.  This event will bring together key stakeholders, policymakers and international organisations. The IFRS Foundation has published jurisdictional profiles providing transparency and evidencing progress towards adoption of ISSB Standards. The IFRS Foundation has launched new e-learning modules to support companies in getting started with understanding the ISSB Standards. The modules include a mixture of written and visual content and interactive knowledge checks, designed to build foundational knowledge of the ISSB Standards. Resources New Resources Launched to Support SMEs with Energy Renovations A set of new practical and accessible tools have been launched to help Irish SMEs on their energy renovation journey. The Business Energy Upgrade resources directly addresses barriers to SMEs reducing their energy use by providing practical guidance, financial tools, and real-world inspiration to act. The suite includes: A decision-making toolkit to guide businesses through the upgrade process A technical and financial analysis tool with data to support planning and investment decisions A financial handbook outlining available grants, tax supports, and loan options A basic starter guide for SMEs, including practical tips for beginning their energy upgrade journey A selection of case studies showcasing successful commercial building upgrades The suite was created by The Irish Green Building Council (IGBC), in partnership with Dublin Chamber, Sustainability Works, the University of Galway, and the Society of Chartered Surveyors Ireland. The Business Energy Upgrade suite is part of the ENACT initiative, supported by the Sustainable Energy Authority of Ireland (SEAI). All resources are now freely available to download at https://constructinnovate.ie/enabling-commercial-retrofit/ *** Presentations are now available from the webinar on Responsible Business initiatives: Sustainability, which took place in April 2025. The presentations cover Enterprise Ireland’s Sustainability Capability Development Supports, OECD Guidelines for Multinational Enterprises on Responsible Business Conduct (RBC), and the Implications of the Green Transition Directive. **** The June issue of Accountancy Europe’s Sustainability Update is now available, with the following highlights: European Commission seeks to review Sustainable Finance Disclosure Regulation ECB recommendations on the Omnibus IFAC global study on sustainability assurance Introduction of international standard on sustainability assurance (UK) 5000 French transposition of Omnibus Stop-the-Clock directive   Did you know? Plastic Free July® is a global movement that helps millions of people be part of the solution to plastic pollution. A registered charity based in Australia, Plastic Free July® operates across the globe, inspiring 100+ million participants in 190 countries.  It provides resources and ideas to help you (and millions of others around the world) reduce single-use plastic waste every day at home, work, school, and even at your local café. Resources include ‘Ideas and Solutions’, the Plastic Free Pledge and the Plastic Free July Quiz, which takes less than 5 minutes. Articles Ireland ‘silent’ on watering down of European Union’s sustainability rules for companies (Irish Times) Electricity grid ‘stretched’: EAI warns of missed targets without €2bn investment (Business Post) Helena Morrissey: It’s time to reset DEI in the City (The Times – Subscriber) Navigating audit’s future: AI, ESG and compliance (In the Black – CPA Australia) Events SustainabilityWorks, Guaranteed Irish, Meeting Customer Expectations on Sustainability: Tools and Tactics for SMEs SMEs increasingly need to demonstrate their sustainability credentials in tender submissions and sales pitches to large corporate customers. SustainabilityWorks are teaming up with Guaranteed Irish for a webinar to provide SMEs with practical advice and tips. Virtual, Tuesday, 24 June 1:00-1:30 PM   UN Sustainable Development Solutions Network (SDSN), Sustainable Development Report (SDR) 2025 launch The UN SDSN will launch its report which this year has a unique focus on reforming the Global Financial Architecture (GFA) and scaling up global financing flows to support the SDGs through 2030 and beyond. The launch event will present key findings from the SDR 2025, including the updated SDG Index and Dashboards, and will feature insights from high-level leaders and experts on transforming the GFA to better serve sustainable development. Virtual, Tuesday, 24 June, 2024, 8:00 AM to 9:45 AM EST.     Enterprise Northern Ireland, Funding for Growth: Transitioning Your Business to Net Zero The third session in a three-part in-person series for Micro and Small Businesses, which also includes events on Accessing Debt Finance and Grant & Equity Finance, this session will cover the importance of net-zero in future-proofing your business, support available to help finance your transition to net-zero, and how small businesses are leading the charge to net-zero In person, Thursday 26 June 2025, 9:30am to 1:30pm, Venue: Craigavon Industrial Development Organisation, Portadown, Cost: Free   Grant Thornton, CSRD – After the Omnibus Dust Has Settled Expert panel discussion on implications of Omnibus Simplification Package proposal on changes to the Corporate Sustainability Reporting Directive (CSRD), how companies are adapting, and the evolving political landscape influencing ongoing negotiations. In person, Grant Thornton, 13-18 City Quay, 7 July 3 July, 9:30 - 11:30am   Dublin Chamber, International Roundtable on Circular Economy with ECOPath The ECOPath Project supports SMEs in adopting Circular Economy practices to strengthen and implement their ESG performance. It equips SME staff with the knowledge and skills needed to reduce their company’s environmental impact through circular approaches. Join EcoPath Project and SMEs from Sweden, Germany, Spain, and Croatia to discuss these approaches, and the curriculum developed so far and have your say. The curriculum will look at: Applicable regulatory frameworks in relation to ESG and SMEs; Identify key principles of the ESG framework; Distinguish between the environmental, social and governance dimension of sustainable reporting; Compare the most common sustainability frameworks (incl. CE, ESRS, CSRD, SDG, CSR, ESG, GRI...) Webinar, Wednesday 9 July, 10.00-11.30. Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.    

Welcome to the latest edition of Technical RoundUp In developments since the last edition, IFAC has released some practical tools to assist SMEs and Public Sector entities, IAASA has published details of its significant financial reporting enforcement activities in 2023 and 2024, and the FRC has issued a consultation on a proposed UK version of the International Standard on Sustainability Assurance (ISSA) 5000. Read more on these and other developments that may be of interest to members below. Financial Reporting The International Accounting Standards Board (IASB) has announced that it has decided to proceed with issuing seven illustrative examples that aim to improve the reporting of uncertainties in the financial statements. It expects to issue these examples in Q3 of 2025. The IASB has announced that it expects to issue its revised IFRS Practice Statement 1 Management Commentary on 23 June 2025. The IASB has published a Request for Information as part of its Post-implementation Review of IFRS 16 Leases. The Request for Information remains open for public comment until 15 October 2025. ESMA, the European Securities and Markets Authority, has published the latest edition of its Spotlight on Markets Newsletter. The European Accounting Review, in collaboration with the International Accounting Standards Board is accepting submissions for a special issue featuring research proposals. The deadline for submissions is 1 December 2025. The International Federation of Accountants (IFAC) has released some practical tools to support IPSAS Implementation. These tools are designed to help governments and public sector entities adopt and implement IPSAS Standards and help Professional Accountancy Organisations advocate for their use. IFAC has also released an online tool designed to help SMEs to maximise the benefits of incorporating sustainability into their sustainability strategy. IAASA has published an overview of some of its more significant financial reporting enforcement activities undertaken in 2023 and 2024. Auditing and Assurance The Staff of the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) have released new publications to support implementation of the IAASB’s and IESBA’s sustainability-related standards: the International Standard on Sustainability Assurance (ISSA) 5000 and the International Ethics Standards for Sustainability Assurance (IESSA).   These are Frequently Asked Questions (FAQs) on Sustainability Assurance Engagements and IESBA Staff Q&As on IESSA. The Financial Reporting Council (FRC) has issued a consultation on a proposed UK version of the International Standard on Sustainability Assurance (ISSA) 5000, “General Requirements for Sustainability Assurance Engagements”. The consultation proposes ISSA (UK) 5000 for use on a voluntary basis by assurance providers and comments are requested by 31 July 2025. Sustainability The IFRS Foundation is joining London Climate Action Week from 21–29 June 2025.  This event will bring together key stakeholders, policymakers and international organisations. The European Sustainable Energy Week 2025 takes place from 10 to 12 June 2025 in Brussels and online. It brings together leading voices from the clean energy community and high-level speakers to share ideas and help shape Europe’s sustainable energy future.  The IFRS Foundation has published jurisdictional profiles providing transparency and evidencing progress towards adoption of ISSB Standards. The IFRS Foundation has launched new e-learning modules to support companies in getting started with understanding the ISSB Standards. The modules include a mixture of written and visual content and interactive knowledge checks, designed to build foundational knowledge of the ISSB Standards. Accountancy Europe has published its June 2025 Sustainability Update. Anti-money laundering, sanctions, economic crime In June 2025 the EU Commission updated its list of high-risk jurisdictions which present strategic deficiencies in their national anti-money laundering and countering the financing of terrorism regimes. Click for a press release and here for a  copy of the delegated regulation (which delegated act enters into force if the European Parliament or the Council of the EU do not object to it, during the scrutiny period which generally lasts 2 months ). The following countries have been added to the list: Algeria, Angola, Côte d’Ivoire, Kenya, Laos, Lebanon, Monaco, Namibia, Nepal and Venezuela. The following countries have been removed from the list: Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, Uganda, and the United Arab Emirates. Accountancy Europe (AE) has responded to the European Banking Authority’s (EBA) consultation on new rules related to the anti- money laundering and countering the financing of terrorism package. Accountancy Europe’s response to the EBA consultation has focused replies on the draft regulatory technical standard (RTS) on Customer Due Diligence and in particular identified four RTS articles that would benefit from clarification, refinement, or more proportionality. In June 2025 the UK Office of Financial Sanctions Implementation (OFSI) launched six short sanctions videos highlighting six key areas dealing with financial sanctions. The videos will give users valuable insight into the essentials of complying with UK financial sanctions. The videos  detail the work carried out at OFSI and how financial sanctions work, provide an insight into the range of  guidance that OFSI produces to help individuals and companies comply with UK financial sanctions, give an overview of the sanctions consolidated list, outline what to do if you suspect a financial sanctions breach and give an introduction to general licences and detail what a specific licence is and how to apply for one. Click the link for details of the UK Government’s improvements to navigation of GOV.UK sanctions content following a cross-government review and an ask from users for clearer, better structured sanctions content. In June 2025 the UK Dept. for Business and Trade issued its second progress report on the Economic Crime and Corporate Transparency Act 2023. The report describes Companies House activity including the querying and removal of  false, misleading or incorrect information from the registers, with an impact on 100,400 companies from 4 March 2024 to 3 March 2025 inclusive. The report also includes information on limited partnership reform, the register of overseas entities and collaboration between Companies House and the Insolvency Service. New or proposed legislation The Minister for Children, Disability and Equality recently implemented the European Union (Gender Balance on Boards of Certain Companies) Regulations 2025. These regulations impose new gender balance requirements for boards of listed companies by 30 June 2026. The regulations do not apply to micro, small and medium-sized enterprise (SME) or unlisted companies. Under the regulations relevant listed companies must have the objective that at least 40% of the non-executive directors of the relevant listed company concerned are members of the underrepresented sex. The ‘28th regime’ a new EU legal framework for innovative companies is  a proposed legal framework that is additional to the national legal frameworks of the 27 Member States .It was referenced in the European Commission’s Competitiveness Compass of January 2025 and its work programme of February 2025. The idea behind it is that the EU will  offer a parallel, elective legal framework that businesses can choose to operate under simplifying applicable rules and  bypassing the different national legal frameworks. In June 2025 the EU Commissioner for Justice Democracy and the rule of law, Michael Mc Grath, appointed Dr Tom Courtney a solicitor, leading author on Irish Company law and previous chair of the Irish Company Law Review Group as his special adviser to advise him on the proposal for a new 28th regime company. Dr Courtney writes that this is a very important EU initiative to make it possible for companies to benefit from a simpler harmonised set of EU wide rules. The UK Companies and Limited Liability Partnerships (Annotation) Regulations 2025 (2025 Regulations) allows the UK Registrar of Companies to annotate the Register of Companies. Under the Companies Act 2006, the Registrar currently has the authority to issue notices requiring specific information from overseas entities within a time limit set by the Registrar. Under the 2025 Regulations the Registrar may annotate the Register to indicate that a notice to the Overseas Entity was issued and not complied with. Other power of annotation under the 2025 Regulations includes the annotation of the Register that a person who appears in the Register as a director is subject to director disqualification sanctions. Other news The Central Bank of Ireland has in June 2025 issued its Central Bank second quarterly bulletin headlining slower pace of domestic growth amid trade tensions and global uncertainty. The Charity Commission for Northern Ireland has launched a new series of guides designed to help charity trustees run their organisations effectively and in line with their legal duties. The June edition of Enterprise Newsletter from Enterprise Ireland has been published.     The Minister for Enterprise, Tourism and Employment Peter Burke has established The Cost of Business Advisory Forum with the aim of reducing the cost of running a business and addressing delays which can impact the operation of businesses in Ireland. The Group will be chaired by former Labour Court Judge Kevin Foley and the group includes representatives from Chartered Accountants Ireland. We recently reported that the Irish Companies Registration Office has launched an Open Data Portal which provides access to key company data. Please click here for a useful article by CLS Chartered Secretaries which gives examples of the types of information available on the portal and practical tips to make the most of the portal. Accountancy Europe has outlined its support of the ongoing work of the European Union Intellectual Property Office and has compiled some key points, conclusions and actions for the future in its recent publication. Accountancy Europe has also published an information paper covering the evolution and impact of private equity investment in the European accountancy profession over the last decade. The Irish National Cyber Security Centre has launched  a useful  ‘plain English’ guide to keeping your online accounts secure designed to make the often complex and confusing information around keeping online accounts secure more accessible to the public. Technical Roundup is taking a break for the summer and the next Roundup will be issued on Friday 5 September. Any updates during this period will be published on the technical hub on the Institute's 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

On 11 June the Ulster Society hosted a Legal Series webinar in partnership with A&L Goodbody examining the 'Good Jobs' Employment Rights Bill. In this webinar Aisling Byrne of A&L Goodbody looks at what the key employment law changes will be when the Bill is implemented.  The Good Jobs Employment Rights Bill in Northern Ireland aims to modernise employment law, aligning it more closely with Great Britain and enhancing worker protections. Key changes will include stronger rights for flexible working, improved protections against unfair dismissal and discrimination, and changes to terms of employment, including zero-hour contracts. The bill also addresses family leave, trade union law, and enforcement of labour market rules.  A recording of this webinar is available to view, for free and on demand, HERE A copy of Aisling's is slides available to view HERE

On 18 June the Ulster Society hosted a Public Sector Blitz event at the National Stadium at Windsor Park, Belfast. A pdf copy of the slides presented at the event are available to view HERE

From the Professional Accountancy team... In June 2025 the EU Commission updated its list of high-risk jurisdictions which present strategic deficiencies in their national anti-money laundering and countering the financing of terrorism regimes. Click for a press release and here for a  copy of the delegated regulation (which delegated act enters into force if the European Parliament or the Council of the EU do not object to it, during the scrutiny period which generally lasts 2 months ). The following countries have been added to the list: Algeria, Angola, Côte d’Ivoire, Kenya, Laos, Lebanon, Monaco, Namibia, Nepal and Venezuela The following countries have been removed from the list: Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, Uganda, and the United Arab Emirates. This information is provided as resources and information only and nothing in these pages 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 pages. 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 these pages, 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 in these pages.