Strong internal controls are essential to the effective operation of any organisation. They help reduce risk, improve accountability and provide management with greater confidence in the information they rely on to make decisions. As businesses grow and evolve, processes that once worked well may no longer provide the level of oversight required. Regular reviews of internal controls can help organisations identify weaknesses, improve efficiency and strengthen governance before issues arise. Taking time to assess controls throughout the year allows businesses to stay ahead of potential risks, support compliance obligations and ensure key processes continue to operate effectively. Why Internal Controls Matter Internal controls are the checks and processes that help a business operate effectively. They support everything from financial reporting and approval processes to fraud prevention, stock management, payroll accuracy and compliance. When controls are clear and working well, they help ensure that: Transactions are recorded accurately Responsibilities are clearly assigned Key approvals are documented Errors are identified early Risks are monitored and managed Financial information can be trusted Good controls do not need to be complicated. In many cases, small improvements can make a real difference. Common Control Weaknesses Control issues often build gradually. A process that worked well when a business was smaller may no longer be suitable as the organisation grows, teams change or reporting requirements become more complex. Common weaknesses include: Too much reliance on one person Lack of segregation of duties Informal approval processes Incomplete or inconsistent record-keeping Limited review of reconciliations Weak password or system access controls Delays in identifying errors or unusual transactions Processes that are not documented These gaps can increase the risk of errors, fraud, reporting delays and compliance issues. Why Regular Reviews Are Important Internal controls should not be viewed as a once-a-year exercise. Regular reviews help businesses ensure their processes remain effective and aligned with the needs of the organisation. Reviewing controls periodically can help management understand: Whether key processes are being followed consistently Where approval or review steps may be missing Whether responsibilities are clear across the team If financial information is being prepared accurately and on time Where manual processes could be improved Whether risks have changed as the organisation has evolved By identifying issues early, businesses can make improvements before small weaknesses develop into larger problems. Practical Steps Businesses Can Take Strengthening internal controls does not always require a major overhaul. Often, it starts with a few practical questions. Who approves key payments? Who reviews bank reconciliations? Who has access to financial systems? Are changes to supplier or employee bank details independently checked? Are management accounts reviewed regularly? Are processes documented clearly enough for someone else to follow? These questions can highlight areas where a business may be exposed. From there, management can take practical steps to improve controls, such as introducing review checklists, clarifying approval limits, limiting access to key systems or improving documentation. Supporting Better Decisions Internal controls are not only about reducing risk. They also support better decision-making. When financial information is accurate, timely and reliable, management can make decisions with greater confidence. Strong controls also help boards, committees and senior teams demonstrate good governance and accountability. For growing businesses, this becomes increasingly important. As operations become more complex, informal processes may no longer provide the level of oversight needed. How We Can Help At UHY FDW, we work with businesses to review internal controls, identify areas of risk and recommend practical improvements. Our approach is focused on understanding how your organisation operates. We look at the processes behind the numbers and provide clear, relevant advice that supports stronger governance, better reporting and more confident decision-making. Whether you are experiencing growth, reviewing your risk environment or looking to strengthen governance across your organisation, we can help you identify and improve the controls that matter most. Speak to our team to discuss how an internal controls review can support your business.

A Strong Hold on Growth Originating from a formula first used on teak in Indonesia, news of an adhesive with incredible strength spread quickly. Two decades later, demand for Gorilla Glue products continues to accelerate. With the support of UHY member firms across Europe, the business's growth ambitions are thriving. "We had always planned to expand into Europe from the UK, but Brexit brought challenges that none of us were equipped to deal with," says Richard Allen, Head of European Accounting at Gorilla Glue Europe Ltd. "This was unfamiliar territory for British businesses in our position and we needed specialist support to facilitate our growth, first into the Netherlands and later into Germany. I had worked with UHY in previous companies, so it was the only network I wanted to support us. I was confident from the outset that UHY had the expertise and resources to guide us through this critical period." "From the beginning, I have been impressed by the effortless way member firms communicate. There is never any need to repeat instructions, and I have complete confidence that everything necessary is being done to help us achieve our goals." Staying Close As Gorilla Glue expanded its European operations, experts from across the UHY network worked together to provide seamless cross-border support. Michelle Dale, VAT Director at UHY Hacker Young in Manchester, coordinated communications between Niall Donnelly, Head of Corporate Tax at UHY Farrelly Dawe White, Dundalk, Ireland; Martin Kuijpers, VAT Specialist at Govers Accountants/Consultants in Eindhoven, Netherlands; and Lomme Van Dam, International Business Tax Advisor at Govers Accountants/Consultants. "Together, these professionals from different parts of the UHY network combined their expertise to help us establish legal entities and navigate complex compliance requirements in the Netherlands and Germany," says Richard. "They helped us get established quickly and continue to support the development of our European structure. Their advice and day-to-day assistance with matters such as VAT returns and payroll have been exceptional." Looking to Expand? Whether you're planning international growth, entering new markets or navigating complex compliance requirements, our team can help you move forward with confidence. Get in touch with our team to discuss your expansion plans and discover how we can support your business growth. #UHY #UHYGlobal #InternationalBusiness #BusinessGrowth #CrossBorderExpansion #Tax #Brexit

Every Irish company has statutory filing obligations. One of the most important is the annual return. For many businesses, the annual return can feel like a routine compliance task. But missing a Companies Registration Office deadline can lead to penalties, loss of audit exemption and wider disruption for the company and its directors. With changes to audit exemption rules now in place, it is more important than ever for Irish companies to understand their filing obligations and keep their compliance calendar under control. What is an annual return? An annual return is a statutory filing made to the Companies Registration Office. It provides key information about the company, including details such as its registered office, directors, secretary, share capital and shareholders. Every Irish company must file an annual return with the CRO at least once each year. The first annual return is due six months after incorporation and does not require financial statements to be attached. Later annual returns usually require financial statements or other relevant documents to be filed with the return. The 56-day filing deadline The annual return deadline is not one to leave until the last minute. CRO guidance confirms that late filing fees apply from the day after the expiry of the filing deadline. This deadline is 56 days after the effective date of the annual return. If the return is late, the CRO late filing fee starts at €100. A daily fee of €3 then applies, up to a maximum late filing fee of €1,200 per return. This is in addition to the standard filing fee. Why late filing matters Late filing can create more than an avoidable fee. It can lead to: Loss of audit exemption Late filing penalties Additional administration Risk of prosecution Possible involuntary strike-off Disruption during banking, investment, sale or restructuring processes The CRO states that it is the responsibility of each director to ensure their company is not in breach of the Companies Act 2014. That makes annual return management more than an administrative task. It is part of the company’s wider compliance and governance responsibilities. Audit exemption and the July 2025 change Audit exemption is an important consideration for many qualifying small and micro companies. Previously, a late annual return could result in the loss of audit exemption for the following two financial years. However, the audit exemption regime changed from 16 July 2025. From that date, a qualifying company will not lose audit exemption because of a single late annual return. If an annual return is filed late more than once in a five-year period, the company will lose its audit exemption entitlement for the next two years, as per Section 22 of the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024. This is a welcome change for companies that make a one-off error, but it does not remove the need for careful filing. Late filing fees still apply, and repeated late filing can still have serious consequences. Beneficial ownership should not be overlooked Annual return compliance is not the only statutory filing area companies need to manage. All relevant entities are required to file beneficial ownership information with the Central Register of Beneficial Ownership. A newly incorporated entity has five months from incorporation to register its beneficial ownership details. For companies with non-Irish resident beneficial owners, they are required to obtain an Identified Person Number, which is a pre-requisite for adding non-Irish resident individuals to the Register of Beneficial Owners, as well as for completing annual return forms. Companies should review their beneficial ownership register information on a regular basis so that it remains up to date. This helps ensure that company records remain accurate and aligned with CRO and RBO requirements. Entities which fail to process changes to the Register of Beneficial Owners within the required 14 days may result in prosecution and, on summary conviction, be liable to a class A fine of up to €5,000, or on conviction on indictment, to a fine not exceeding €500,000. Building a stronger compliance process Many filing issues happen because companies do not have a clear process in place. A strong compliance process should include: A clear annual return date Diary reminders well ahead of the deadline Up-to-date director, secretary and shareholder details Accurate statutory registers Timely financial statement preparation Regular review of beneficial ownership details Clear responsibility for CRO and RBO filings This helps reduce pressure on directors and ensures compliance does not depend on last-minute action. How company secretarial support can help Company secretarial support helps companies stay ahead of statutory deadlines and maintain accurate records. It can help with annual returns, CRO filings, statutory registers, beneficial ownership reviews, director and shareholder updates, board records and wider company compliance matters. It also gives directors greater confidence that key obligations are being managed properly. At UHY FDW, our Corporate Compliance and Company Secretarial team supports businesses with practical, reliable company secretarial services across the company lifecycle. Speak to our team to review your company records, annual return dates and wider compliance position.

Running a business means managing a lot of moving parts. Clients, people, finances, operations and future plans all need attention. Behind the scenes, every company also has statutory and corporate compliance responsibilities. These include annual returns, Companies Registration Office filings, statutory registers, director and shareholder changes, beneficial ownership records, board minutes and company records. For many business owners and directors, this can feel like background administration. But when company records are not kept up to date, or deadlines are missed, small issues can quickly become bigger problems. Company secretarial support helps businesses stay compliant, organised and in control. It gives directors confidence that the company’s statutory obligations are being managed properly, while they stay focused on running and growing the business. More than filing forms Company secretarial work is often associated with annual returns and CRO filings. These are important, but they are only part of the picture. Good company secretarial support helps ensure the company’s legal records reflect what is actually happening in the business. This might include changes to directors, secretaries, shareholders, share capital, registered office details or beneficial ownership. It can also include preparing board minutes, maintaining statutory registers, supporting company formations, managing corporate restructuring steps, assisting with voluntary strike-offs or helping restore a company to the register where required. In short, it helps keep the company properly maintained from a legal and governance perspective. Supporting directors Directors have legal responsibilities under the Companies Act 2014. The CRO states that each director is responsible for ensuring their company is not in breach of the Companies Act 2014. That does not mean directors need to manage every administrative detail themselves. But it does mean they need to know that the right processes, records and filings are in place. Company secretarial support helps directors understand what needs to be done, when it needs to happen and what information needs to be maintained. This can reduce pressure on directors and help ensure important compliance matters are not missed. Keeping company records accurate Accurate company records are essential. They show who owns, manages and controls the company. They also help demonstrate that important decisions have been properly recorded. These records may include: Register of members Register of directors and secretaries Share allotment and transfer records Board and shareholder minutes Written resolutions Beneficial ownership information Registered office and officer details The Companies Act 2014 also confirms that the duties of the company secretary include those delegated by the board, alongside the secretary’s statutory and other legal duties. Keeping these records accurate matters at every stage of a company’s life. It becomes especially important during growth, restructuring, investment, sale, succession planning or changes in ownership. Helping during business change Company secretarial support becomes particularly valuable when a business is changing. A growing company may need to issue new shares, appoint new directors, update shareholder records or review its structure. A company preparing for investment, sale or restructuring may need to ensure its statutory records are complete before due diligence begins. Even a company that is no longer trading may still have obligations to manage. CRO guidance confirms that a company which has ceased trading and has no outstanding creditors can request voluntary strike-off through the appropriate process. When company records are up to date, change is easier to manage. When they are not, simple transactions can become more complicated than they need to be. Supporting better governance Good governance is not only for large organisations. It matters for owner-managed businesses, family businesses, SMEs and growing companies too. At its simplest, good governance means having clear records, clear responsibilities and clear decision-making. It helps directors understand what has been agreed, what needs to happen next and how key decisions have been documented. It can also support stronger relationships with banks, investors, buyers, auditors and professional advisers. When company records are complete and well managed, stakeholders can see that the business is organised, responsible and in control. How UHY FDW can help At UHY FDW, our Corporate Compliance and Company Secretarial team supports businesses across the full company lifecycle. We can assist with company formations, annual corporate compliance, statutory registers, share changes, corporate restructuring, voluntary strike-offs, administrative restorations and corporate health checks. We work with businesses to keep company records accurate, manage statutory obligations and support directors with practical, reliable guidance. Strong company secretarial support gives you more than compliance. It gives you clarity, structure and confidence. Speak to our Corporate Compliance and Company Secretarial team to find out how we can support your business.

Internal audit is often seen as something only large organisations need. For many business owners, boards and management teams, the phrase can sound formal, technical or suited to complex corporate structures. But in reality, internal audit can support organisations of many sizes, especially where good governance, risk management and stronger controls matter. It is to give management and boards a clearer view of where the organisation is working well, where there may be gaps, and what practical improvements can be made. What is internal audit? Internal audit is an independent review of how an organisation operates. It looks at systems, processes, controls and risks to understand whether they are working as they should. This can include areas such as finance, governance, compliance, operations, reporting, data, policies and decision-making structures. Why smaller organisations may need it too Internal audit is not just for large companies with multiple departments and complex reporting lines. Smaller and medium-sized organisations can also face significant risk. In some cases, they may be more exposed because responsibilities sit with a smaller number of people, processes are less formal, or controls have developed over time rather than through a structured plan. As an organisation grows, the way it manages risk often needs to grow with it. Processes that worked well when the business was smaller may become harder to manage as teams expand, reporting requirements increase, or operations become more complex. Internal audit can help identify those pressure points early. Common areas internal audit can review Internal audit can be tailored to the size, structure and needs of your organisation. It may focus on areas such as: Financial controls and approval processes Governance and board reporting Payroll and HR processes Procurement and supplier management Compliance with policies and procedures Risk management frameworks Cybersecurity and data protection controls Grant claims or funding requirements Operational efficiency Segregation of duties The scope does not have to be broad. For many organisations, the most useful internal audit work starts with one focused review of a key risk area. More than compliance Internal audit is often linked with compliance, but its value goes further. A strong internal audit process can help organisations make better decisions, improve accountability and build confidence in how they operate. It can also support directors, trustees and senior teams by giving them objective insight into the areas they are responsible for overseeing. This is particularly important where organisations are managing public funds, regulated activity, charitable responsibilities, stakeholder expectations or rapid growth. Internal audit helps turn uncertainty into action. When should an organisation consider internal audit? An organisation may benefit from internal audit if: It is growing or becoming more complex It has limited visibility over key risks It relies heavily on a small number of people or informal processes It has experienced errors, delays or control weaknesses It needs to strengthen governance or reporting It receives grants or public funding It operates in a regulated or high-accountability environment The board wants greater assurance over how risks are managed You do not need to wait for something to go wrong. Internal audit works best when it is proactive. It gives you time to spot issues, strengthen processes and make improvements before risks become bigger problems. A practical approach to internal audit At UHY Farrelly Dawe White, we support organisations with internal audit services that are practical, focused and proportionate. We work with you to understand your organisation, your structure and the risks that matter most. From there, we can review key controls, assess governance processes and provide clear recommendations that help you strengthen how your organisation works. Our approach is not about adding unnecessary complexity. It is about giving you useful insight, clear priorities and confidence that your processes are supporting your organisation properly. Stronger controls. Clearer confidence. It is for any organisation that wants better visibility, stronger controls and more confidence in the way it manages risk. Whether you need a focused review of one area or a wider internal audit plan, the right support can help you move forward with clarity. Speak to our team to understand how internal audit could support your organisation!

Running a business means making decisions every day. Some are routine. Others shape the future of the business. In both cases, good decisions rely on good information. Many businesses already have plenty of data. What they often lack is clear, timely insight that helps them understand what that data is saying. That is where management accounts add real value. Management accounting is designed to support planning, control and decision-making by turning financial information into insight that management can use. Timely insight that supports action Management accounts give you a regular view of how your business is performing. They are usually prepared monthly or quarterly, rather than once a year, which means they can support decisions while there is still time to act. Depending on the business, they may include profit and loss reporting, balance sheet information, budgets, forecasts and cash flow reporting. This gives you greater visibility over performance, profitability and financial position. Instead of waiting until year-end to understand what has happened, you have current information that helps you respond sooner and plan more effectively. More than figures on a page The real value of management accounts is not just in the numbers themselves, but in what they tell you. Good reporting helps you understand trends, monitor performance and compare actual results against expectations. Variance analysis, for example, can help explain where performance is ahead of plan, where it is falling short and where further attention may be needed. This level of insight supports more confident decision-making. Whether you are reviewing costs, planning recruitment, assessing pricing or preparing for growth, you are working from evidence rather than instinct alone. Keeping cash flow in focus Profit is only part of the story. Cash flow remains one of the most important indicators of financial stability. Cash flow forecasts help show the timing and amounts of cash expected to come in and go out over a given period, helping businesses spot pressure points, plan ahead and assess whether funding may be needed. When cash flow is built into your management reporting, it becomes easier to manage working capital, anticipate shortfalls and make decisions with a clearer view of the road ahead. A stronger basis for business decisions At their best, management accounts do more than report performance. They help you understand it. They bring structure to financial information, highlight what matters most and support better conversations around the direction of the business. That leads to stronger planning, better control and more informed decision-making. How we can help We work with businesses to deliver management accounts that are clear, relevant and tailored to their needs. Our focus is not just on producing reports, but on helping you understand your numbers and use them to make better decisions. If your current reporting is not giving you the clarity you need, speak to our team about management accounts that bring greater insight, control and confidence.

Taking on the role of a charity trustee is a meaningful step. It places you at the centre of an organisation that exists to make a real difference. With that position comes responsibility. In Ireland, charity trustees are the people who ultimately exercise control over, and are legally responsible for, the charity. That makes a clear understanding of the role essential from the outset. What does a charity trustee do? At its core, being a trustee means overseeing how a charity is run. Trustees are responsible for governance, strategic direction and accountability. This is different from day-to-day management. While staff or management may run the charity’s daily operations, trustees remain responsible for ensuring that the organisation acts in line with its charitable purpose, complies with relevant legal and regulatory requirements, and is governed effectively. Acting in the best interests of the charity Trustees must act in the best interests of the charity at all times. That means putting the charity’s purpose first and ensuring that personal interests, loyalties or outside influences do not interfere with decision-making. Conflicts of interest can arise in any organisation, but they must be identified, declared and managed properly. Good governance depends on trustees being willing to ask questions, challenge where needed and make decisions that support the charity’s long-term interests. Ensuring proper oversight Trustees are expected to exercise real oversight of the charity’s activities, finances and decision-making. That includes understanding how money is received and used, reviewing financial information, monitoring key risks and making sure appropriate controls are in place. Trustees do not need to be specialists in every area, but they do need enough visibility and understanding to govern effectively and respond when something requires attention. Complying with regulatory requirements Registered charities in Ireland must meet specific obligations to the Charities Regulator. One of the most important is the requirement to submit an Annual Report within 10 months of the charity’s financial year-end. Trustees should also ensure the charity complies with other relevant laws, including areas such as data protection, employment, equality and health and safety where applicable. Compliance is not simply an administrative task. It is a central part of protecting the charity and maintaining public confidence. Following the Governance Code The Charities Governance Code is a practical framework that supports good governance across the sector. It is built around six principles and is intended to help trustees put the right systems and behaviours in place. Responsibility for compliance rests with charity trustees, so boards should be able to show how those principles are being applied within their organisation. Why this matters Expectations of charities continue to rise. Donors, beneficiaries, regulators and the wider public all expect transparency, accountability and strong governance. When trustees fulfil their role well, they help protect the charity’s purpose, strengthen its decision-making and support long-term impact. When governance is weak, the consequences can affect compliance, credibility and public trust. How we support charity trustees We work with charities and not-for-profit organisations to strengthen governance, improve oversight and support compliance. Whether you are newly appointed or already serving on a board, the right advice can help you understand your responsibilities clearly and respond with confidence. Take the next step If your charity needs greater clarity around governance, compliance or trustee responsibilities, now is the time to act. Speak to our team for practical support that helps you strengthen oversight, reduce risk and move forward with confidence.

I remember 1986 well. It was the year Argentina won the World Cup and IBM released its first laptop. That year also marked a notable milestone for accountancy. An American firm in New York, Urbach, Kahn & Werlin formally joined forces with London-based firm Hacker Young to create an international association called Urbach Hacker Young. UHY. Of course, I didn’t know that in 1986, but when I discovered UHY over 25 years later, I was impressed by what I found – so I joined. Rhys Madoc - UHY CEO Forty years on from its transatlantic beginning, the business has grown into a worldwide network of like-minded accounting firms. I have been privileged in my role as UHY’s executive director, and now CEO, to witness how the network’s founding principles of integrity, trust and collaboration still drive its success today. Global expansion I joined in 2013 just three years away from its 30th anniversary, and an exciting time for the network. UHY had recently updated its brand, giving the blue logo some contemporary curves and emphasising not only individual and independent member firm identity but the international dimension too. Strategically it was a time of global expansion, and my job was to help the network enter new countries, finding the right firms with the right services in the right locations – and growing our membership of course. But that wasn’t all. I heard increasingly from our member firms that more centralised support from the network would be a significant way of enhancing their own marketing, particularly in getting across the international messages that would boost their appeal to multinationals and local businesses looking to invest overseas. Member engagement Adopting a more centralised support model, we launched a revised webinar programme, enhanced member firm support materials and new members’ intranet portal to enable better communications and reporting. Alongside this we rolled out new global publications, a brand asset library and comprehensive sales tools. The Board noted a significant shift in partner perspectives, increasingly recognising marketing as strategically vital for their firms’ development and growth. Our smaller firms in particular benefited from central guidance and promotional tools. By our 30th anniversary, the network was represented in 90 countries, our member firms employing over 7,000 professionals and staff. Our regional conferences that year were defined by celebration, optimism and the spirit of collaboration we had been building so enthusiastically. Burdens and blessings of lockdown None of us could have predicted a global pandemic. When countries went into lockdown in 2020, cross‑border trade stalled, entire industries were devastated, and our member firms and their clients found their day‑to‑day operations severely disrupted — in some cases confronting a threat to their very survival. Looking back, I’m both humbled and proud of how our firms stepped forward and demonstrated real leadership during an exceptionally challenging period. Our offices across the world accelerated adoption of cloud-based accounting and communication methods to offer remote business continuity to clients. They shared ideas and solutions. They adjusted policy and process to enable employees to work safely from home, supporting and motivating them, putting wellbeing at the top of the list. In turn, the UHY Board, and my team in the (virtual) UHY executive office adopted complementary measures: videoconferencing with Zoom and Teams for more intimate engagement; taking our regional conferences for 2020 online to maintain networking and momentum; facilitating technical accounting updates to mitigate Covid-19 impacts on business timelines and deadlines, especially in audit and assurance. We learned so much about the power of collaboration in a client-centric culture. When borders reopened a new set of economic challenges emerged as nations counted the cost of downtime and our profession found itself in demand as never before. UHY member firms have been able to play a big part in recovery and helping their clients to ‘turn the corner’. Reaching 40 The years since Covid have been marked by global economic and geopolitical uncertainty. It has never been more important for organisations to have trusted advisors they can turn to for help in navigating change. For 2024 the Board was delighted to report record revenues and the highest levels of cross-border business in the history of UHY. The network grew again last year and in 2026, our anniversary year, I am sure we will continue to grow further, in testament to the effort of what is now a 10,000-strong network of talented people operating under the UHY brand around the world. The network is in great shape. Since October 2024 we have had a new global chairman and a new global brand. Both are pushing boundaries and leading UHY into a new era, fostering a uniquely collaborative culture under a unified flagship brand that preserves each firm’s independence while bringing everyone together under one visual identity. I have had the honour and pleasure of working with six UHY chairmen who have expertly steered the network to where we are today. Our current Chair, Roberto Macho, is no stranger to UHY, being one of the longest serving board members and an early member of the fledgling network all those years ago. With Roberto’s leadership, a committed Board and an engaged membership, the future looks bright. So we proudly celebrate the network’s legacy, strengths and successes. In 1986 UHY International was launched in New York in October, and we will mark the moment at our own Annual Conference in Atlanta, Georgia, USA, this October. In our 40th year, let the party begin!

Pillar Two is now part of the global tax landscape. For many businesses, the focus has shifted from understanding the rules to meeting real deadlines. If your business is part of a large multinational group, 2026 is an important year for compliance. What matters now is understanding whether your group is within scope, what the Irish filing process looks like, and where your local entity fits into the wider reporting picture. What is Pillar Two? Pillar Two introduces a 15% minimum effective tax rate for large multinational groups. It applies to groups with annual revenues above €750 million. Where a group’s effective tax rate in a jurisdiction falls below 15%, a top-up tax may arise. Ireland has implemented Pillar Two through rules including the: Income Inclusion Rule Undertaxed Profits Rule Domestic top-up tax The rules require complex calculations, new data points and coordination across multiple jurisdictions. Why Irish entities still need to pay attention Even where the wider group is leading the Pillar Two process, Irish entities may still be affected. That is because the rules apply at group level, but local entities may still have responsibilities around registration, reporting, data collection and local compliance. In-scope Irish entities can register for Pillar Two through ROS. For Irish businesses that are part of an in-scope group, the key question is not just whether Pillar Two applies. It is also whether the local entity understands its role in the process. Key dates to know For in-scope entities whose first fiscal year ended in 2024, the registration deadline was extended from 31 December 2025 to 28 February 2026. For all other entities, the registration deadline is 12 months after the end of their first fiscal year. The ROS system developments needed to allow return filing and payment of associated liabilities are now available in ROS, enabling entities to meet the 30 June 2026 pay and file deadline. In addition, the ROS updates to file the top-up tax information return will be available in ROS before the 30 June 2026 filing deadline. What businesses should be doing now For businesses within scope, the focus should now be on readiness. That means understanding whether the group is in scope, confirming who is responsible for the Pillar Two process, identifying what information may be needed from the Irish entity, and making sure local teams are aligned with the wider group timetable. This is not an area to leave until the last minute. Late filings and late payments can create additional exposures, including surcharges and interest. A practical point for Irish businesses For many Irish entities, Pillar Two will not be something they manage alone. The detailed technical analysis, calculations and filing approach will often sit with the wider group tax function or with specialist advisers. However, local finance and tax teams still need visibility. They need to know what is happening, what is expected of them, and whether the right steps have been taken in Ireland. Stay informed Pillar Two is a highly technical area, and the compliance framework is continuing to develop. At UHY Farrelly Dawe White, we are monitoring Irish Revenue guidance and key Irish filing developments so businesses can stay aware of what is changing and when action may be needed. Businesses affected by Pillar Two should seek specialist advice to understand how the rules apply to their group and what filing obligations arise in practice.

If you’re a company owner or shareholder approaching retirement, it’s natural to start thinking about what comes next. Not every business has a clear successor. And a buyer isn’t always available at the right time. In many cases, an asset sale becomes the most realistic option. In these situations, a Members’ Voluntary Liquidation (MVL) can offer a structured way to step back while extracting value in a tax-efficient way. The key is planning early. The reliefs available can be valuable, but only if the conditions are met. How liquidation is taxed When a company is liquidated, distributions to shareholders are generally treated as a capital disposal. That means Capital Gains Tax (CGT) applies. It also means access to reliefs. If you meet the criteria. The two main reliefs to consider are: Retirement Relief Revised Entrepreneur Relief Retirement Relief Key benefits for retiring shareholders Retirement Relief can play a significant role in a liquidation, even where the company has ceased trading. There are a few points to keep in mind: The appointment of the liquidator is usually treated as the disposal date for tax purposes Revenue may allow a concession where assets sold within six months are treated as held at the date of appointment. This is not set out in legislation, so it needs careful handling Distributions made in assets rather than cash may not qualify The relief can apply in holding company structures where conditions are met Revised Entrepreneur Relief When it can still apply Revised Entrepreneur Relief does not automatically apply to liquidations. However, Revenue guidance confirms it may still be available where: the business was trading up to the appointment of the liquidator, and the liquidation is completed within two years Unlike Retirement Relief, this relief generally does not apply to holding company structures. Why planning ahead matters Every company is different. And so is every shareholder. A well-timed liquidation can deliver significant tax savings. But getting it wrong can mean missing out on reliefs entirely. A pre-liquidation review helps you stay in control. It ensures: the relevant reliefs are available conditions are met before any steps are taken the structure is set up correctly distributions are handled in the most efficient way the process runs smoothly from start to finish How we can support you At UHY Farrelly Dawe White Limited, we work with company owners and shareholders to plan and manage the full liquidation process. We support you by: assessing the tax implications reviewing eligibility for CGT reliefs planning the most efficient structure and timing assisting with the appointment of a liquidator Take the next step If you’re considering retirement, restructuring, or winding down your business, early planning makes a real difference. Talk to us about your options. We’ll help you understand what’s available and put a plan in place that works for you.

Business leaders, enterprise agencies, and international partners gathered at Oriel Park on Friday, 10 April for ‘Goals Beyond the Pitch: The Ohio-Ireland Business Connection’, a highly successful event focused on strengthening economic links between the North East of Ireland and the United States.  The event was a joint initiative with Team NEO, Jobs Ohio, Dundalk FC and sponsored by UHY Farrelly Dawe White (UHY FDW). The occasion brought together a diverse audience of local businesses, chambers of commerce, and key stakeholders to explore opportunities for trade, investment, and collaboration between Ireland and the State of Ohio.  A highlight of the afternoon was the keynote address from Mark Owens, Vice President of Marketing at Team NEO. Mark was appointed by the Government of Ireland’s Department of Foreign Affairs as the first-ever Honorary Consul of Ireland for the State of Ohio in 2023, a role that supports the development of economic, business, and cultural relationships between Ireland and the region, while also providing consular assistance to Irish citizens. Mark provided a compelling overview of Ohio’s economic landscape and the opportunities available for Irish companies seeking to expand into the US Midwest, highlighting the transatlantic opportunities available for both Ireland and the US The event was proudly sponsored by UHY Farrelly Dawe White, with Managing Director Alan Farrelly highlighting the firm’s commitment to supporting international growth and cross-border business development, underpinned by its wider presence within UHY International, which provides clients with direct access to expertise and connections across the United States and global markets.  ‘Goals Beyond the Pitch’, featured a strong and diverse line-up of speakers from across Ireland and the United States, reflecting the breadth of expertise and collaboration underpinning the initiative.  A special welcome message was delivered by Ambassador of Ireland to the United States Geraldine Byrne Nason, who highlighted the importance of strengthening transatlantic relationships and encouraged continued collaboration between Irish and US businesses.  Local context was provided by Dundalk FC, with contributions from CEO Joe McGuinness, alongside a special live address from Los Angeles by Chris Clinton, Executive Director & Owner of Dundalk Football Club. Both speakers highlighted the unique role of sport in fostering community, partnership, and economic engagement, reinforcing the event’s central theme of “Goals Beyond the Pitch” and demonstrating how sporting institutions can act as powerful catalysts for business connection and regional development.  The forum also featured a wonderful video call from Cleveland, with the Mayor of the City of Cleveland, Justin Bibb, addressing attendees and underlining the importance of transatlantic collaboration at both governmental and business levels.  From the US perspective, Mark MacCauley from JobsOhio highlighted Ohio’s position as a dynamic and business-friendly state, with strong infrastructure and access to key US markets.    Contributions from regional and enterprise leaders included insights from David Kieran, Managing Director of ZOMA and Hanna McDonnell, President of Dundalk Chamber, both of whom highlighted the strength and ambition of the North East business community, whilst sharing their own connections to Ohio and the sporting community.  We also welcomed agency representatives, Nikki Campbell from Local Enterprise Office Louth and Amy Clinton from Enterprise Ireland, who outlined the wide range of supports available to companies seeking to scale internationally, particularly into the US market.  A short panel discussion featuring Margaret Hearty from InterTradeIreland and Hilary Moran from The Fintech Corridor explored opportunities for innovation-led collaboration along the M1 corridor and further afield.  Further insights were shared by Ed Johnston from Clark Hill Law, offering practical perspectives on establishing and growing a business presence in the region.  Breda Dick and Fergus Donnelly from The Cleveland Project shared their story as a basketball-focused charity initiative operating along the M1 corridor in Ireland, using sport as a vehicle to support community development, youth engagement, and cross-community connection.  Attendees described the event as “a fantastic afternoon of insight, connection, and meaningful conversation,” with many highlighting the quality of networking and genuine collaboration opportunities as a key outcome. The interactive format encouraged open discussion, allowing participants to share experiences, explore partnerships, and identify practical routes to entering the US market.  The event also emphasised the unique role of the North East region, and the broader M1 Corridor, as a dynamic location for business growth, innovation, and international engagement.  A recurring theme throughout the day was the importance of building strong relationships and leveraging networks to support business expansion. As one contributor noted, “collaboration is key,” a sentiment that resonated strongly with attendees.  Organisers expressed their appreciation to all speakers, partners, and participants for contributing to the success of the event, and to Mo Chara for providing the catering for the event, adding to the welcoming and informal atmosphere throughout the afternoon. Organisers confirmed that there is strong interest in developing this initiative further in the future, with plans to build on the connections made and explore additional opportunities to strengthen and expand the business, sport and international relationships in the months ahead.  For further information, please contact:  Alan Farrelly Managing Director UHY Farrelly Dawe White Limited  alanfarrelly@uhyfdw.ie  +353 42 933 9955

Irish businesses have always shown resilience. From family-run enterprises to scaling companies, SMEs continue to drive innovation, employment and growth across the country. But the environment they operate in is changing quickly. In 2026, business owners are navigating a more complex landscape than ever before. Economic pressures, regulatory changes and evolving expectations mean that strategic decision making has become more important than ever. Here are some of the key challenges Irish businesses are facing today. Economic uncertainty and rising costs Many business continue to operate in an environment of economic uncertainty. Inflationary pressures, higher operating costs, and shifting consumer demand are all influencing how companies plan for the future. For SMEs in particular, managing cash flow, protecting margins and planning for sustainable growth has become increasingly important. This is where strong financial planning and access to the right advice can make a meaningful difference. Clear financial insights helps business owners move forward with confidence rather than reacting to short term pressures.   Navigating tax and regulatory changes Ireland’s regulatory and tax landscape continues to evolve. Changes in tax legislation, compliance requirements and reporting obligations means businesses must remain proactive to avoid unnecessary risk. For many companies, keeping pace with these developments while managing day-to-day operations can be challenging. Having the right advisory support in place ensures businesses understand their obligations, identify opportunities and make informed decisions.   Digital transformation and efficiency Technology continues to reshape how businesses operate, from cloud accounting systems to automation and data analytics , companies are investing in digital tools to improve efficiency, gain insights and support for better decision making. For many SMEs, the challenge is not whether to adopt new technology, but how to implement it effectively while ensuring processes remain robust and compliant.   Growing expectations around ESG Environmental, Social and Governance (ESG) considerations are becoming increasingly  important for Irish businesses. Customers, investors and regulators are placing greater emphasis on transparency, sustainability, and responsible business practices. While ESG requirements continue to evolve, many companies are beginning to consider how they measure and report on these areas. For SMEs, understanding where to start and how to approach ESG strategically can be a challenge.   Turning challenges into opportunities While the business environment may feel more complex, it also presents opportunities. Businesses that take a proactive approach to financial planning, governance and strategic decision making are better positioned to adapt and grow.   At UHY FDW, we work closely with Irish businesses to help them navigate change, understand their options, and make confident decisions for the future.   Whether supporting growth plans, advising on tax and compliance, or providing strategic insight, our focus is always the same - Helping businesses move forward with clarity, and Achieve a Better Future Together   Talk to our team today to explore how we can support your business.