Taxation of investments. Exchange Traded Funds (ETFs). Offshore Funds. UCITS, Irish domiciled funds. Life Assurance Policies. Personal and Corporate Tax

Today, 6^th October 2026, the Tánaiste has announced exciting changes for investments in his Budget 2027 speech. These updates will soon become law under the Finance (No.2) Bill 2026.

New Investment Account

The government is introducing a brand new Investment Account starting 1^st July 2027. This follows the European Commission’s 2025 recommendation on Savings and Investment Accounts.

The Minister confirmed a direct tax cut starting 1^st January 2027. The government is reducing both the Investment Undertaking Tax (IUT) and Life Assurance Exit Tax (LAET) rates. The tax rate will drop from 38% to 35%, marking a 3 percent reduction.

Furthermore, corresponding reductions will apply to equivalent offshore funds. Certain foreign life assurance policies will also benefit from this lower rate. These changes mark a major step in reforming retail investment products.

Key Features of the New Investment Account

The new account aims to simplify retail investment. It reduces barriers for individuals and provides a straightforward, tax-efficient framework.

The core rules of the Investment Account include:

1. Eligibility: Available to Irish residents aged 18 and over who hold a PPSN.
2. Taxation: A flat 1% tax rate applies to the account value above a €50,000 tax-free threshold.
3. Contributions: A maximum annual limit of €12,000 applies, with no minimum limit.
4. Account Rules: Investors can only hold one account per person at launch.
5. Providers will calculate the account value daily. They will use the average daily value to determine any tax due.

Exemption from Deemed Disposal and Traditional Taxes

Crucially, these accounts will operate entirely outside the scope of current investment taxes. Therefore, investors will not pay Capital Gains Tax (CGT) or Dividend Withholding Tax. They are also exempt from IUT and LAET.

In addition, the Tánaiste confirmed that the eight-year deemed disposal rule will not apply to assets held inside this account.

Eligible Products and Hands-Free Administration

To make investing easier, eligible providers will manage all tax reporting, administration, and Revenue payments. These providers include MiFID-authorised service providers, regulated fund managers, and insurance companies.

At launch, investors can hold the following products in the account:

• Shares and bonds
• Investment funds,
• ETFs
• Insurance-based investment products

Investment Undertaking Tax

The Investment Undertaking Tax (IUT) rate is dropping from 38% to 35%. This tax cut applies to Irish-domiciled unit trusts, authorised investment companies, and ICAVs.

Life Assurance Exit Tax

The Life Assurance Exit Tax (LAET) rate is dropping from 38% to 35%. Specifically, this change affects policies contracted since 2001 with Irish-domiciled life assurance companies.

Equivalent Offshore Funds

Offshore ETFs (Exchange Traded Funds) and funds, which are considered equivalent to Irish domiciled funds, will see a tax cut from 38% to 35%. Specifically, this applies to investments across the EU, EEA, or OECD partner countries. Additionally, Finance (No.2) Bill 2026 will update the rules in relation to units held in recognised clearing systems. As a result, Irish-domiciled ETFs in a recognised clearing system will also qualify for the 35% tax rate.

Foreign Life Assurance Policies

Ireland is cutting the tax rate on specific offshore life assurance policies from 38% to 35%. Consequently, this lower rate applies to policies started after 2001 through companies, agencies, or branches in the EU, EEA, or OECD partner countries.

For full information, please click: https://www.gov.ie/en/department-of-public-expenditure-infrastructure-public-service-reform-and-digitalisation/publications/your-guide-to-budget-2027/

For all your Personal Tax compliance and advisory requirements, please contact us at info@accountsadvicecentre.ie

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

Budget 2027. Personal Tax. Income Tax Changes. Tax Credits, Reliefs, Standard Rate Bands

The Tánaiste and Minister for Finance, Simon Harris TD,  and the Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation, Jack Chambers TD, presented Budget 2027, today, 6^th October 2026.

Income Tax Bands and Credits: Budget 2027 Updates

Budget 2027 confirms a €2,500 increase to the standard rate income tax band.

Consequently, the entry point for the higher 40% tax rate rises for the 2027 tax year.

Single individuals will now start paying the 40% rate at €46,500.

Meanwhile, married couples with one earner will reach this higher threshold at €55,500.

In addition to these band updates, the government is boosting several main personal tax credits by €125. Therefore, the Personal Tax Credit, Employee Tax Credit, and Earned Income Tax Credit will all rise to €2,125 for the 2027 tax year onwards.

Furthermore, the Home Carer Tax Credit will increase by €100, which brings the new total to €2,050.

USC rates and bands

USC rates and bands are changing to protect lower-income workers in Ireland. Minister for Public Expenditure Jack Chambers announced a National Minimum Wage increase to €14.94 per hour, starting 1^st January 2027. Consequently, the government is adjusting the Universal Social Charge (USC) to support these workers. The ceiling for the 2% USC rate will increase by €1,600, moving from €28,700 up to €30,300. Therefore, full-time minimum wage earners will keep paying the lower 2% rate instead of entering the higher 3% band

The new USC thresholds for 2027 are outlined below:

In addition to these standard bands, self-employed individuals will still pay a 3% surcharge on any income that exceeds €100,000.

Rent Tax Credit: Budget 2027 Adjustments

Rent tax credit amounts are increasing to support individuals and families renting across Ireland. Individual renters will see their credit increase by €150. Consequently, single claimants will receive a total of €1,150 per year.

In addition to individual benefits, couples will get extra relief. Jointly assessed couples or civil partners will see an increase of €300. Therefore, their total credit jumps to €2,300 per year. Furthermore, tenants can avail of these new, higher rates for both the 2027 and 2028 tax years.

Rent a Room Relief: New Budget 2027 Exemption Limits

Rent a room relief guidelines are expanding to give homeowners a higher tax-free income limit. Starting 1^st  January 2027, the annual tax exemption limit will increase from €14,000 to €16,000. Consequently, you can earn more rental income from your primary home without paying income tax, PRSI, or USC.

In addition to the higher threshold, the Tánaiste announced a major expansion to the scheme’s property rules. The relief now covers certain Designated Auxiliary Dwellings installed after 27^th July 2026. Therefore, you may qualify for the tax break if you build or place an approved, detached modular house in your rear private garden. However, these garden structures must fully comply with local Planning Regulations under statutory instrument S.I. 340/2026.

Finally, official Budget documents clarify how this limit applies to households. A single ceiling of €16,000 from all rental income applies strictly per taxpayer unit. Furthermore, if your total rental income goes even slightly over this amount, you lose the exemption and may be liable to pay tax on the entire sum.

Microgeneration of Electricity: Tax Exemption Increases

During the Budget announcement, the Tánaiste confirmed an increase in the personal tax exemption limit. Homeowners who generate renewable, sustainable, or alternative energy for their own consumption will see this limit rise from €400 to €600.

But what exactly qualifies under these guidelines? Microgeneration refers to the small-scale production of electricity by everyday consumers. These individuals typically generate power at their primary homes for personal use and sell the excess electricity produced.

Tax Relief for Third Level Fees: Budget Updates

Third level fees tax relief is changing to align directly with the standard Student Contribution Fee. The government is achieving this alignment by reducing the specific disregard amount that is ineligible for tax relief.

This update directly changes how you claim relief for college tuition. Specifically, a person can claim a 20% tax credit on the Student Contribution Fee paid for a second and subsequent student. However, you can only claim this relief for cumulative fees that exceed the disregard amount.

Childcare Services Income Tax Relief: Budget 2027 Upgrades

During the budget announcement, the Tánaiste confirmed an increase to the scheme’s exemption threshold. The maximum tax-free ceiling will increase from €15,000 up to €20,000 for qualifying individuals. Consequently, minders caring for children inside their own homes can earn more tax-free income each year.

In addition to the higher income limit, the government is removing previous capacity caps. The old limit on the number of children you could mind while claiming this relief no longer applies. Therefore, childminders can expand their services without losing their tax exemption status. However, providers must still fully comply with all prevailing national regulatory and safety requirements.

Nurturing Skills Learner Fund: New Tax Exemptions

Nurturing Skills Learner Fund payments will now offer even better financial support for early years educators. The government confirmed that tuition rebates paid to qualifying students under this scheme will be completely tax exempt. Consequently, childcare professionals will keep the full value of their financial awards without paying income tax on them.

But how exactly does this educational scheme operate? The fund provides rebates on relevant third-level course fees to eligible workers. Specifically, you must remain in childcare employment for a continuous six months after completing your studies to qualify.

For full information, please click: https://www.gov.ie/en/department-of-public-expenditure-infrastructure-public-service-reform-and-digitalisation/publications/your-guide-to-budget-2027/

For all your Personal Tax compliance and advisory requirements, please contact us at info@accountsadvicecentre.ie

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

Budget 2027. Corporation Tax. Business Tax. Research and Development (R&D) Tax Credit. Preliminary Tax.

Budget 2027 was announced today, 6^th October 2026, setting out the Government’s tax and spending priorities.  In particular, five targeted enhancements to Ireland’s research and development (R&D) tax credit were introduced.

R&D Tax Credit

Higher Limits for Subcontracting R&D

The government is increasing the limits for subcontracting R&D work. This change applies to both higher education institutions and unconnected third parties.

The New Rules: The cap will rise to 20% of your in-house R&D spend or €200,000 (whichever is greater).

The Current Rules: Previously, the level of qualifying subcontracted expenditure was capped at 15% or €100,000.

Boosted Cash Flow for Smaller Projects

The first-year payment threshold will rise from €87,500 to €105,000. Therefore, companies claiming €105,000 or less will receive their full refund benefit in year one.

In addition, claimants with credits between €105,000 and €210,000 will receive their refunds much faster than larger firms. Ultimately, this change directly improves cash flow and funding access for small and medium-sized enterprises (SMEs).

Easier Preliminary Corporation Tax Offsets

The Minister announced changes to provide for a simplification measure to improve recognition of the R&D tax credit when calculating Preliminary Tax.

New 5% Wage Cost Bonus

A new provision will allow claimant companies to increase their qualifying cost base. Specifically, you can now add 5% of your qualifying R&D wage costs to your claim, provided you meet minimum expenditure rules.

In other words, eligible claimant companies can increase this base by 5 percent of their qualifying R&D wage costs. However, they must first incur a sufficient level of overall expenditure to qualify.

Simplified Science Test for Clinical Trials

Finally, an upcoming amendment will simplify the application process for life sciences. If a clinical trial is legally regulated, this status may satisfy the necessary “science test.”

This practical measure recognizes the vital R&D work Irish companies do during global trials. Furthermore, it should greatly reduce the administrative burden on businesses.

Knowledge Development Box (KDB) Extended to 2032

The Tánaiste recently confirmed a major extension for the Knowledge Development Box (KDB) relief. The government will extend this tax incentive until 1^st January 2032.  Additionally, the update introduces a new flexibility. Existing claimant companies can now choose to elect out of the KDB regime entirely.

Major Reforms to Preliminary Corporation Tax Rules

The Tánaiste recently announced significant changes to preliminary corporation tax (PT) rules. Here is a breakdown of what is changing.

Higher Threshold for Large Companies

Your preliminary tax obligations depend heavily on whether your business counts as a small or large company.

The New Rules: The government is increasing the large company monetary threshold to €350,000.

The Current Rules: Previously, you were classified as a large company if your corporation tax liability exceeded €200,000 in the prior accounting period.

New Flexible Top-Up Mechanism

Currently, large companies must pay their preliminary tax in two separate instalments.  The second instalment must bring the total payment up to at least 90% of the final tax liability for the current accounting period, with the balance of tax outstanding for the period being paid on or before the company’s specified tax return filing date.

However, the government is introducing an amendment to create a much fairer top-up mechanism. Under the new rules, you satisfy your tax requirements if you pay 80% of the current year liability by the second instalment date. You can then make a top-up payment to reach 100% of the liability within four months after your accounting period ends.

Removal of Harsh Interest Penalties

Previously, if a company missed its Preliminary Tax deadlines, Revenue applied statutory interest. The rules accelerated your payment schedule so that 45% of your tax was deemed due back in month six and 100% was deemed to be due in month eleven of the accounting period.

Fortunately, the Tánaiste announced the complete removal of this 45% deeming provision. An underpayment of the second instalment of preliminary tax does not result in a deemed underpayment of the first instalment, in circumstances where the first instalment payment did not represent at least 50% of the prior year liability.

Four-Year Extension for Start-Up Corporation Tax Relief

The government is extending the Relief for Certain Start-Up Companies by four full years. Eligible new businesses can now claim this tax relief until 31^st December 2030.  Specifically, this incentive (governed by Section 486C of the Taxes Consolidation Act 1997) provides crucial tax relief during a company’s early growth phase.

How the Start-Up Relief Works

The scheme supports qualifying new businesses during their first five years of trading. The relief applies based on your annual corporation tax liability:

Full Relief: Available for companies with an annual corporation tax liability of less than €40,000.

Marginal Relief: Available on a sliding scale for companies with a tax liability between €40,000 and €60,000.

Please note that the government caps this overall relief by reference to certain PRSI contributions paid by the company.

Extension for Key Corporate Investment Reliefs (EII, SCI, and SURE)

The government announced an extension for three vital funding schemes that support Irish businesses. This extension applies directly to the Employment Investment Incentive (EII), the Start-Up Capital Incentive (SCI), and the Start-Up Relief for Entrepreneurs (SURE).

However, this update depends on the formal adoption of the new EU State aid General Block Exemption Regulation (GBER).

Relief for Investment in Innovative Enterprises (Angel Investor Relief)

The Tánaiste announced his intention to extend Angel Investor Relief in its current format. This extension is subject to the adoption of the new EU State aid GBER, which is due to be adopted by the end of 2026. Angel Investor Relief is available to individuals and allows a qualifying investor to avail of a reduced CGT rate of 16% (or 18% in the case of investments made via a partnership) on a gain arising on the sale of a qualifying investment in a qualifying company subject to certain conditions. Angel Investor Relief aims to support increased investment in innovative start-up businesses

Important Updates to EU Minimum Tax Directive (Pillar Two Rules)

Ireland is to introduce key amendments to Part 4A of the Taxes Consolidation Act 1997. These changes will align Irish law with the EU Minimum Tax Directive. This directive enforces the global Pillar Two rules developed by the OECD.

New OECD Safe Harbours Introduced

Following a recent international agreement, Ireland must implement new rules within specified timeframes. Specifically, this update introduces five critical safe harbours to help businesses manage their tax compliance:

• Transitional Country-by-Country Reporting Safe Harbour (extended)
• Simplified Effective Tax Rate Safe Harbour
• Substance-based Tax Incentive Safe Harbour
• Ultimate Parent Entity Safe Harbour
• Side-by-Side Safe Harbour

Flexible Timelines for Enhanced Reporting Requirements (ERR)

The Tánaiste announced a change to the Enhanced Reporting Requirements (ERR) timeline. Starting from 1^st January 2027, taxpayers will gain much-needed flexibility when reporting tax-free benefits.

What are the New ERR Reporting Options?

Currently, real-time reporting places a heavy administrative burden on companies. Under the new rules, employers can choose between two flexible reporting paths:

Option 1: Report the information on or before you provide the tax-free benefit.

Option 2: Report the information by the 14th day of the following month.

Consequently, this new monthly reporting window will significantly ease pressure on internal payroll teams.

Professional Services Withholding Tax (PSWT)

The Tánaiste announced that the standard 20% Professional Services Withholding Tax (PSWT) rate will be replaced. Instead, Revenue will introduce new ‘Personalised Deduction Rates’. This change is subject to a commencement order.

Upcoming PRSI Contribution Rate Increases

The government previously confirmed in Budget 2024 that all PRSI contribution rates will rise gradually over a five-year period.

Recently, all classes of PRSI increased by 0.15 percentage points on 1^st October 2026.

Future PRSI Timeline

To help businesses plan ahead, the government will phase in the remaining changes over the coming years:

From 1^st October 2027: Rates will increase by a further 0.15 percentage points.

October 2028: Rates will rise by a final 0.2 percentage points.

Consequently, employers should update their payroll forecasts to account for these upcoming statutory changes.

The Minister for Social Protection will increase the threshold for the lower rate of Employers’ PRSI from €552 to €600 per week for 2027.

For full information, please click: https://www.gov.ie/en/department-of-public-expenditure-infrastructure-public-service-reform-and-digitalisation/publications/your-guide-to-budget-2027/

For all your Business and Corporation Tax compliance and advisory requirements, please contact us at info@accountsadvicecentre.ie

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

Company Secretarial, CRO, Corporation Tax, Corporate Clients, Company Accounts

Every company must file a B1 Annual Return and financial statements with the Companies Registration Office (CRO) every calendar year, except for their first B1 or when extending an Annual Return Date (ARD).

Annual Filing Requirements

Every company must file a B1 Annual Return and financial statements with the CRO Annual Return Portal each calendar year.

• Exceptions: A first-time B1 filing skips financial statements, and companies can extend their Annual Return Date (ARD) using a Form B73.

Determining Company Details

The Annual Return Date (ARD) dictates the exact company information required for the B1 filing.

• The Snapshot: Form B1 captures statutory details—such as directors, secretaries, and share capital—precisely as they exist on that specific ARD.

Reporting Post-ARD Changes

You must exclude any changes occurring after the ARD from your current filing.

• Next Steps: You report these changes on the following year’s B1 return. However, you must still submit standalone event forms (like a Form B10 for a director change) independently within 14 days of the actual event.

Submission Platform

Most presenters use CORE to submit their B1 forms.

• Live Data: The portal pulls official data directly from the central CRO database to complete form fields automatically.

Process Simplification

CORE speeds up filing by providing pre-filled B1 forms.

• Automation: The system automatically includes any company updates officially registered with the CRO over the previous 12 months.

Risks of Pre-Filled Forms

Relying blindly on pre-filled data submits outdated or incorrect information.

• Compounding Errors: Companies repeat compliance mistakes year after year if they fail to manually verify and update unverified form fields.

For all your company secretarial, financial accounting and corporation tax requirements, please contact us at info@accountsadvicecentre.ie

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

Key updates to the 2025 ROS Form 11 manual introduce new rules for rental income reliefs and personal tax credits

Overview of the 2025 ROS Form 11 Changes

Here are the key updates you need to know:

Key Updates for Landlords and Property Owners

• Retrofitting Rental Properties Relief (RRPR): Jointly assessed spouses can now claim RRPR for different properties. You can enter specific details for both properties directly into the Property Details section.

• Farmland Leasing Exemption: Revenue updated the Rental Income panel for this exemption. You will now see additional selection boxes to complete your claim.

• Residential Premises Rental Income Relief (RPRIR):

• • Property Sales: Did you claim RPRIR in 2024 but sell the property since then? You must notify Revenue via MyEnquiries to process your tax clawback.

• • Non-Resident Filers: Non-residents must now complete the Worldwide Income field on the Personal Details panel. This ensures Revenue apportions your relief correctly.

Changes to Capital Gains Tax (CGT) and Retirement Relief

• Capital Gains Tax (CGT) Retirement Relief:

• • Section 599 Deferrals: New fields allow you to defer CGT charges for relevant disposals under Section 599.

• • Clawbacks: Revenue added new fields to declare previously deferred CGT. This applies if you sold an asset within 12 years of the original disposal.

• • New Details Required: Existing fields now require the exact consideration amount and the precise date of disposal for Section 598 and 599 claims.

• CGT Self-Assessment: The form features new sections to record tax deferred during the period. You must also use these sections to report previously deferred tax that is now due.

New Income Tax Exemptions and Reporting Rules

• Musical Instrument Exemption: Do you earn exempt profits from making, maintaining, or repairing musical instruments? You must now report these profits under ‘De Minimis – EU State Aid’ on the Personal Details panel.

• Medical Partnerships: A new field in the Trade Details section requires your attention. You must confirm your joint election and input the exact name of the medical partnership.

• PRSA Over contributions: Did your employer contribute more than the maximum allowable limit to your PRSA? You must include the excess amount in the ‘gross amount of taxable income’ field on the PAYE/BIK/Pensions panel.

Personal Tax Credits & Reintroduced Incentives

• Split Year Treatment: Taxpayers claiming Split Year Treatment for 2025 face new requirements. You must now include these specific residency details directly on the return.

• Personal Tax Credits: The Personal Tax Credits panel reflects the increased credit values from the Finance Act 2025. The system applies these new rates automatically.

• Home Renovation Incentive (HRI): Revenue has reintroduced the HRI section. This allows you to claim unused relief balances that you carried forward from previous years.

• Sports Body Donations: Donors can now choose how to use this relief. You can claim the relief yourself or pass it directly to the sports body. Furthermore, Revenue extended this relief to National Governing Bodies (NGBs) for qualifying projects.

• High-Income Individuals: The RR1 panel is now simpler. Revenue greyed out the fields that are no longer available or have been removed.

For full information, please click: https://www.revenue.ie/en/tax-professionals/ebrief/2026/no-1272026.aspx

For help filing your Form 11 Tax Return, please contact us at info@accountsadvicecentre.ie

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

Filing your 2025 Form 11 via the Revenue Online Service (ROS). Make sure to declare your 2026 Preliminary Tax alongside your 2025 self-assessment to avoid interest penalties

Ireland Form 11 Income Tax Guide 2025: Deadlines & Updates

This brief guide provides Irish Revenue guidance on filing 2025 Form 11 Income Tax Returns, highlighting the crucial October and November 2026 deadlines. Drawing on official Revenue eBriefs, Tax and Duty Manuals, and recent Tax Appeals Commission determinations, we outline key obligations, updated form features, and practical compliance considerations for self-assessed taxpayers and tax agents.

2025 Form 11 Filing Deadlines and ROS Extensions

The statutory pay and file deadline for the 2025 Form 11 Income Tax Return is 31^st October 2026.

However, Irish Revenue has confirmed an extended deadline of Wednesday, 18^th November 2026 for self-assessment taxpayers who use the Revenue Online Service (ROS). To qualify for this extension, you must complete both of the following actions through ROS:

1. File your 2025 Form 11 tax return.
2. Pay your 2025 income tax balance and 2026 Preliminary Tax.

 Critical Compliance Note: If you only file or only pay through ROS, the extension is void. The standard 31^st October 2026 deadline will apply, potentially resulting in late filing surcharges.

Capital Acquisitions Tax (CAT) Extension

The same extended ROS deadline of 18^th November 2026 applies to Capital Acquisitions Tax (CAT) returns and payments. This applies to gifts or inheritances with valuation dates falling in the year ending 31^st August 2026.

Key Updates to the 2025 ROS Form 11

The 2025 ROS Form 11 has been active since 1^st January 2026, with major system updates deployed in April 2026. Taxpayers should note the following critical changes and tax credit increases:

Increased Personal Tax Credits for 2025

• Personal Tax Credit: Increased to €2,000
• Employee Tax Credit: Increased to €2,000
• Earned Income Tax Credit: Increased to €2,000
• Widowed Person Tax Credit: Increased to €2,540
• Home Carer’s Tax Credit: Increased to €1,950

Tax Bands, USC, and PRSI Rate Changes

• Income Tax Rate Bands: The standard rate band for single persons is now €44,000 at 20%.
• USC Thresholds: Updated to reflect the latest budgetary changes.
• PRSI Rate: The blended rate of 4.125% does not apply across all classes. It only applies to people paying PRSI through the Revenue self-assessment system (like the self-employed under Class S). For standard PAYE employees (Class A), payroll software does not use a blended rate; it splits the year into 4.10% (January to September) and 4.20% (October to December).

New Capital Gains Tax (CGT) Fields

The Capital Gains Tax panel features new sections allowing self-assessed taxpayers to:

• Request a deferral of CGT payments.
• Declare previously deferred CGT that is now due.

For clarity:

Requesting a deferral of CGT payments: This allows self-assessed taxpayers to claim a formal deferral of a liability directly on the return (such as the CGT deferral available on a business or farm transfer to a child under Retirement Relief).

Declaring previously deferred CGT that is now due: This enables taxpayers to report when a past deferral condition has failed or expired (such as a child selling a transferred asset before a required 12-year holding period), meaning the clawed-back tax has crystallised and fallen due.

Rental Income and Home Renovation Reliefs

• Residential Premises Rental Income Relief (RPRIR): Under Section 480C TCA 1997, landlords can reduce tax on residential rental income by up to €800 for the 2025 tax year.
• Home Renovation Incentive (HRI): The HRI section has been reinstated on Form 11 to allow taxpayers to claim unused balances carried forward.

For Clarity:

• RPRIR Retention Period: To keep the €800 relief for 2025, you must remain a landlord of that qualifying property for a full four-year period. If you sell or stop renting it out earlier, the relief will be clawed back by Revenue.

• RPRIR Registration: The rental property must be fully registered with the Residential Tenancies Board (RTB) on or before 31^st December 2025.

• HRI Limitation: This entry on Form 11 allows you to draw down the remaining balance of an old credit. You cannot claim any new renovation works completed in 2025 under this specific incentive.

2026 Preliminary Tax and Statement of Net Liabilities

To avoid interest penalties, self-employed individuals must calculate and pay their 2026 Preliminary Tax by 31^st October 2026 (or 18^th November 2026 via ROS).

How to Calculate Preliminary Tax

Your payment must equal at least:

• 90% of the final liability for the 2026 tax year, OR
• 100% of the final liability for the 2025 tax year.

The Risks of a “Nil” Preliminary Tax Declaration

If you select “Nil” for your preliminary tax, you are officially declaring to Revenue that you anticipate your total tax liability for the upcoming year will be zero.  If you underpay your preliminary tax (or declare “Nil” when you actually owed tax), you fail the statutory safe harbours.   Revenue will treat the underpaid portion as overdue from the original deadline. Interest will accrue daily at a rate of 0.0219% backdated to that original due date.

When filing electronically via ROS, the Statement of Net Liabilities (SNL) is a screen that appears at the very end of the digital Form 11 submission process. You must complete the self-assessment panel, calculate the SNL, and sign/submit them together in the same session to finalize your return.

For further information, please click: https://www.revenue.ie/en/tax-professionals/ebrief/2026/no-1272026.aspx

For help filing your Form 11 Tax Return, please contact us at info@accountsadvicecentre.ie

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

Revenue Compliance Interventions, Qualifying Disclosures, Tax Return filings, Irish Tax Compliance, High Wealth Individuals (HWIs)

New Revenue Guidance on Tax Compliance

The Revenue Commissioners have introduced guidance on the Enhanced Compliance Engagement (ECE) framework for high-wealth individuals (HWIs) within the High Wealth and Financial Services Division (HW&FSD), running as a pilot until 31^st December 2027.  It will be reviewed by Revenue in 2028. The framework, designed to foster collaboration and reduce enquiries, comprises a tax pack compliance review of submitted computations and a mechanism for obtaining opinions on significant transactions. Key benefits for HWIs include a dedicated case manager and the retention of rights to make unprompted qualifying disclosures during the Level 1 Revenue compliance intervention process.

You can review the full guidance in the new Revenue ebriefs:

https://www.revenue.ie/en/tax-professionals/ebrief/2026/no-1112026.aspx

https://www.revenue.ie/en/tax-professionals/ebrief/2026/no-1122026.aspx

Overview & Timeline

The Revenue Commissioners have launched the Enhanced Compliance Engagement (ECE) framework. It is managed by the High Wealth and Financial Services Division (HW&FSD).

Who is the Target Audience?

High Wealth Individual (HWI) taxpayers.

What is the Format?

It’s a voluntary pilot scheme.

What is the Duration?

Effective from Q2 2026 to 31 December 2027.

What is the Review Date?

Revenue will review the framework in 2028.

What level of Commitment is required?

No formal agreement is required to participate.

What level of Flexibility is offered?

Taxpayers can opt-in at any stage or for any single year.

Key Elements of the Revenue Compliance Framework

What is the process?

Taxpayers submit backup tax computations and supporting documentation after filing returns.

Who are they submitted to?

Documents should go directly to an assigned dedicated case manager.

What’s the purpose of this?

It helps Revenue understand the return filed, especially regarding exceptional matters which differ from submissions made in previous years.

How do Revenue classify this?

Handled as a Level 1 Revenue Compliance Intervention under the Compliance Intervention Framework.

What is the benefit to the Taxpayer?

Taxpayers retain the right to make an unprompted qualifying disclosure or penalty-free self-correction.

Benefits to HWI Taxpayers

It’s a Personalized Service

Assignment of a dedicated case manager to the account.

Risk Reduction 

Lowered exposure to interest charges and future tax penalties.

Real-Time Resolution

Deals with compliance matters quickly to lower compliance costs.

Certainty

Increased assurance regarding return accuracy and transaction tax implications.

Strategic Planning 

Opportunity for early pre-engagement on major financial transactions.

For all your tax advisory and compliance requirements including help preparing and filing your Tax Returns and Qualifying Disclosures, please contact us at info@accountsadvicecentre.ie

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

UK Company Account requirements. Financial Accounts. No Abridged Accounts.

Following engagement with Stakeholders, the Economic Crime and Corporate Transparency Act 2023 reforms for company account filing are delayed to April 2028.  This includes mandatory iXBRL format, eliminated abridged accounts and strengthened audit exemptions.  The key changes include required profit and loss filing for small companies and micro-entities (with an opt-out for public disclosure), restricted accounting period changes and all component parts of the filed accounts and reports must be filed together

What’s the new Deadline?

Small businesses and micro-entities must file profit and loss (P&L) accounts starting April 2028.

Delayed Rollout:

The implementation date for the reforms has been moved from April 2027 to April 2028.  This timeline grants companies an additional year to prepare for the updated Companies House mandates.

What’s the Impact?

These changes will transform both the data companies must disclose and how they submit annual accounts.

What are the specific changes to accounts preparation and filing?

1. Digital Filing Only: Software filing becomes mandatory. Paper and manual web options close. Web services remain only for non-account filings.

2. No Abridged Accounts: Companies must provide full financial details.

3. Component parts of filed accounts and reports must be filed together: All financial accounts and reports must be uploaded together.

4. Strict Period Rules: Limits on shortening accounting reference periods.

5. Other Technical Changes:  A strengthened eligibility Statement is required by companies claiming audit exemption.

To review the news story “Companies House to bring in changes to accounts filing from April 2028,” please click: https://www.gov.uk/government/news/companies-house-to-bring-in-changes-to-accounts-filing-from-april-2028

As the implementation timetable has been moved, companies now have considerable time to prepare for the changes.

For all your UK tax advisory and compliance requirements including help preparing and filing your Tax Returns, please contact us at queries@accountsadvicecentre.ie

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

Tax Advisors and Qualified Accountants, Dublin

Today, 28^th May 2026, the Revenue Commissioners issued a press release.  In it, important changes were announced in relation to Customs Rules for the importation of goods, valued at €150 or less, from outside the European Union.  This includes Great Britain.  This change will take effect in every EU member state from 1^st July 2026.   

What does this mean?

From 1^st July 2026, the EU will introduce changes to the customs clearance of low‑value e‑commerce packages arriving from countries outside the EU, effectively making them more expensive.  A €3 customs duty will apply to each item within a package.  This will not just increase the cost of online purchases but it will also impact the process for returning goods.

What are the current rules?

Currently, a customs duty relief threshold is in place.  This means that no customs duty is applicable on eCommerce packages entering the EU on goods, excluding delivery charges, with an intrinsic value not exceeding €150.  However, from 1^st July 2026, that will change.

Where will the €3 customs duty be applied?

It will be applied at the checkout or upon delivery.

Anything else to consider?

• The new €3 customs duty per item will apply, plus VAT.

• The VAT rate payable on the goods is the VAT rate that would be applicable if those same goods were purchased in Ireland.

• In general, the €3 duty is non-refundable.

• Couriers and An Post will require that Irish consumers pay the €3 duty per item before the goods can be delivered.

• Before you make an online purchase, you should check exactly where the business is based. While no Customs duty applies if the goods are based in Ireland or any other EU member state at such time as those goods are ordered, it’s very important to know exactly where the business is located before you buy. Goods may be shipped from outside the European Union, even where a website appears to show the business as Irish or EU‑  According to Revenue:

“For businesses who do not show Customs Duty on its website, it is vital to check the website’s “Terms and Conditions” and, or “About Us” page to confirm its physical business address and the location from where the goods will be shipped.”

For further information, please click:

https://www.revenue.ie/en/customs/individuals/relief-low-value-consignments/index.aspx

https://www.revenue.ie/en/corporate/press-office/press-releases/2026/pr-052826-customs-rules.aspx

For all your tax questions including help preparing and filing your Tax Returns, please contact us at queries@accountsadvicecentre.ie

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

Revenue Audits, Compliance Interventions and Investigations. Prompted and Unprompted Qualifying Disclosures

On 15th May 2026, the Revenue Commissioners updated their website with the following: https://www.revenue.ie/en/self-assessment-and-self-employment/code-of-practice-and-compliance/index.aspx

If you have been selected for a Revenue Compliance Intervention, this 82 page Code of Practice for Revenue Compliance Interventions provides the relevant guidelines that Revenue, taxpayers and tax practitioners must follow.

A helpful video has also been provided and the following PowerPoint can now be downloaded.

If you have been selected for a Revenue Compliance Intervention, please contact us at info@accountsadvicecentre.ie

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.