Practice News

Confidence among small businesses took a hit amid a new round of restrictions on hospitality venues which were introduced just before Christmas. The Small Firms Association said that 41% saw the business environment improving in winter 2021 compared to 55% last Summer. Many businesses are also dealing with increased costs and supply chain delays, which […]

The poverty risk of households that are in receipt of housing subsidies is two and a half times greater after they have paid their rent, according to an analysis by the think tank Social Justice Ireland. In its report ‘Housing and Poverty 2022’, the group concludes that the practice of using housing subsidies to support […]

Spending in bars rose 8% in December, despite the curbs put on socialising by Government Covid-19 restrictions. But the increase in hospitality spend also coincided with a massive jump in the amount spent on testing laboratories during the month, the figures from Revolut show. Spending on Covid testing by users of the online banking platform […]

The Minister for Finance says decisions made by the Government in last year’s budget will help individuals and households cope with the cost of inflation. Further decisions to reduce the price of energy bills will also assist the cost of living, he said. The annual rate of inflation rose to 5.3% in November, its highest […]

2021 saw an “exponential growth” in the number of customs declarations, according to headline results published by Revenue today. New EU VAT rules, which came into effect in July, and an increase in e-commerce which began during the pandemic saw a fourteen-fold increase in declarations. Revenue reported that 25.4 million customs declarations were processed in […]

The deficit in the state finances has fallen to as low as 2% of GDP for 2021, which would make it one of the smallest deficits in the OECD, according to Davy. The stockbroker’s chief economist Conall MacCoille bases his calculations on expectations that the general government deficit will come in just under €9 billion, […]

Minister for Foreign Affairs Simon Coveney will meet British Foreign Secretary Liz Truss in London this evening. It will be the first opportunity for the ministers to meet in person since Ms Truss took over Brexit responsibilities, as well as the Foreign Secretary role. The two have already held a long virtual meeting, which included […]

The Department of Finance has recorded the highest ever tax take of €68.4 billion, pushing the Exchequer deficit down to €7.3 billion. According to the latest Exchequer figures, tax receipts were up by €11.2 billion (19.7%) on 2020. This was the highest ever tax yield, over €9 billion ahead of the previous highest yield reached […]

The Central Bank has today published a revised simplified Standard Financial Statement to assist borrowers in financial distress after a review. The SFS is used by banks and lenders to gather information from distressed borrowers on their current financial situation. Once it is completed, the lender can assess whether it can offer a borrower an […]

New car registrations for 2021 were up 19%, according to statistics published by the Society of the Irish Motor Industry. Total new car registrations for 2021 finished at 104,932. Registrations were down 10.4% on 2019 figures. New Light Commercial Vehicle registrations in 2021 saw an increase of 32.3% compared to 2020. They were also 13.4% […]