Insights

Every loan within a company will have an agreement outlining the terms and conditions of the loan between the borrower and the lender.

The updated Code aims to provide a clear understanding of employment status and assist where individuals are being categorised as being ‘self-employed’ when ‘employee’ status would be more appropriate.

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 financial reporting frameworks applicable in Ireland generally require the adoption of the going concern basis of accounting in financial statements, except in circumstances where management intends to liquidate the Company or to cease trading, or has no realistic alternative to liquidation or cessation of operations.

On 27 April 2021, the Central Bank of Ireland published its feedback statement in respect of consultation paper 131 “Regulations for pre-emptive recovery planning for (re)insurers)” (“CP 131”). As a result of CP 131, the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Recovery Plan Requirements for Insurers) Regulations 2021 commenced on 19 April 2021 and (re)insurers are now required to

With a confirmed effective date for annual reporting periods beginning on or after 1 January 2023, the new standard for the reporting of insurance contracts is looming on the horizon for many (re)insurers. For some of the larger domestic industry players, the heavy lifting regarding IFRS 17 (the “Standard”) has already been done,

The Irish Investment Limited Partnership (ILP) structure is a regulated partnership structure that is authorised as either a Qualifying Investor Alternative Investment Fund (QIAIF) or Retail Investor Alternative Investment Fund (RIAIF) that will appeal to global investments managers and promoters in particular for Private Equity, Private Credit, Real Estate, sustainable finance and infrastructure assets.

Guidelines on performance fees in UCITS and certain types of AIFs were published by ESMA on 5th November 2020 and will become applicable from 5th January 2021.

Granting lease incentives is a common way to encourage a new lessee to sign up to a new lease contract and fill vacant premises. When accounting for lease incentives in accordance with IFRS 16 ‘Leases’ from a lessee perspective, questions may arise in how to identify a lease incentive and when the accounting treatment changes depending on how the lease incentive is granted.

On 20 October 2020, the Central Bank of Ireland (CBI) published the findings of its thematic review of the implementation of Consultation Paper 86 (CP86) Fund Management Companies – Guidance (Guidance)8. The objective is to set out the standards to be met by the fund management companies (FMCs) including self-managed UCITS and internally managed AIFs in respect of their governance, management, control and resourcing.

The business and operations of many entities have already been seriously affected by the rapid global spread of COVID-19 and related government actions. Unfortunately, many businesses will continue to be affected for some time. This has consequences for their value and the value of many of their commercial assets.

The COVID-19 pandemic is having a tremendous impact on the world’s economy. Many businesses are struggling to stay afloat and doing whatever they can right now to rationalise costs and preserve any cash surpluses they have in order to bridge future cash flow needs. Around the world governments are stepping in to try and limit the impact of the pandemic by providing financial support in numerous ways from direct cash payments through to the deferral of tax payments.