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The quote ‘change is the only constant’ pre-dates Socrates, to the Greek Philosopher Heraclitus who said ‘you can never enter the same river twice’. This means, somewhere between 535BC and 475BC, we knew that change would be a challenge we would grapple with throughout the course of human existence. So why do organisations still find it so difficult to change?

European regulatory authorities have introduced new legislation, referred to as the Investment Firms Regulation EU 2019/2033 (‘IFR’) and Investment Firms Directive EU 2019/2034 (‘IFD’), which aims to establish a tailored prudential framework for investment firms.

The global economic crisis that resulted as a consequence of the pandemic has stressed the relevance of prioritising sustainability pillars within financial services.

The European Banking Authority (EBA) is implementing a new policy strategy regarding institutions’ Pillar 3 disclosures. The new Pillar 3 disclosures aims to promote transparency and enhance institutions’ management of Environmental, Social or Governance (ESG) risks. The EBA is encouraging institutions to foster an awareness of the important role ESG risks play in the transition to a greener economy.

Is your business involved in both VAT exempt and VAT taxable activities with a 31 December accounting year end? If so, your annual VAT adjustment for 2021 is due to be submitted to Revenue on or before 23 July 2022.

It’s that time of year again. As income tax returns are filed, we keep seeing advertisements and notices telling us to top up our pensions and reduce our income tax liabilities. Yes, contributing to a pension is an effective way of reducing tax, but this is only one benefit of making a contribution.

Firms that are in scope of the AIFMD, UCITS and MiFID regimes need to become familiar with the changes that are applicable to their business activity and analyse how they will comply with the new obligations. Firms will need to review and update their existing business plan, systems and policies to incorporate the concept of sustainability into their daily operations.

Anti-Money Laundering legislation requires each EU Member State to establish a Central Register of Beneficial Ownership of Trusts (CRBOT).

The European Central Bank (ECB) is beginning to provide tangible guidance to financial institutions as to how climate change and environmental risks should be managed within an organisation.

A PAYE Exclusion Order (PEO) issued by Revenue to an employer relieves the employer from the obligation to deduct tax at source under the PAYE system from emoluments paid to an employee.

The Non-Financial Reporting Directive (Directive 2014/95/EU) (‘NFRD’) is currently in place, and is the forerunner to the proposed Corporate Sustainability Reporting Directive.