The arrival of auto-enrolment pensions in January 2026 is more than just a policy change, it’s a new way of working for every employer in Ireland. From payroll adjustments and HR updates to new compliance requirements, businesses will need to be ready to manage their responsibilities. While the scheme will make it easier for employees to save for retirement, it also places fresh obligations on employers. That means planning ahead now is essential. At UHY FDW, we’re here to help you understand what’s changing and to support you in making the transition as smooth as possible. Employer Considerations There are several areas employers should focus on before auto-enrolment goes live: Eligibility checks : Review with providers to confirm who falls within the scheme. Higher rate taxpayers :  Be prepared to support staff who may be better served by existing workplace schemes. New joiners : Contracts may need updating to reflect new pension obligations. Education : Employees not already in a pension scheme will need clear, practical guidance. Communication : Even if you only employ one person, you must provide access to a workplace pension. Budgeting : Factor in the rising cost of employer contributions, starting at 1.5% and increasing to 6% by year ten.   HR Preparation for AE HR teams will be central to making auto-enrolment work. Key steps include: Workplace assessment : Review age, salary, and retirement arrangements across your workforce. Future planning : Consider hiring plans and workforce needs. Cost impact : Assess the effect of contributions and administrative costs on payroll. Scheme strategy :  Decide whether to maintain, merge, or remove existing workplace schemes. Compliance and admin : Prepare for added reporting, training, and communication responsibilities.   Updating Policies & Procedures Auto-enrolment will also require updates to core HR policies and processes: Absence and leave policies : Clarify how contributions are handled during these periods. Probation and notice periods : Adjust to reflect obligations for contributions. Documentation:  Update forms such as recruitment forms, appraisal templates, absence reports, return to work forms, and exit interviews. Clear policies will not only ensure compliance but also help avoid confusion during the transition. Ongoing Employer Responsibilities Once auto-enrolment is in place, businesses will need to: Monitor and ensure compliance. Regularly review their auto-enrolment scheme. Provide ongoing education and support for employees. Stay informed about legislative changes. How UHY FDW Can Support You At UHY FDW, we understand the scale of this change and the pressures it places on employers. Our role is to make the process straightforward and give you confidence that your business is fully prepared. We can: Review your workforce  and highlight who will be affected. Check payroll readiness  to ensure systems can handle new contributions. Advise on budgeting and cost planning , helping you manage the phased increases. Support HR teams  in updating contracts, policies, and employee communications. Guide employee education , so staff understand what auto-enrolment means for them. Provide ongoing compliance reviews , keeping your business aligned with evolving legislation.   Auto-enrolment is coming, and while it promises to strengthen retirement savings across Ireland, it also places significant responsibility on employers. The businesses that plan ahead now will be the ones best placed to adapt quickly and with minimal disruption. At UHY FDW, our payroll, HR, and advisory experts are here to guide you through every stage, from planning and preparation to implementation and ongoing compliance. To find out how we can support your business with auto-enrolment, contact any member of our Payroll team at UHY FDW. Source: gov.ie Source: citizensinformation.ie

From January 2026, the pension system in Ireland will undergo one of the biggest overhauls in decades. The long awaited auto-enrolment scheme, My Future Fund, is set to launch, finally bringing Ireland closer to systems already in place in countries like the UK. The idea is simple, make it easier for people to save for retirement. Employees who aren’t already in a pension scheme, will be automatically enrolled, with contributions coming from the employee, their employer, and the State. For employees, it’s a straightforward way to start putting money aside for the future. For employers, it’s a significant change that will affect payroll, HR, and compliance processes. With just over a year to go, now is the time for both sides to understand what’s coming and begin preparing. How Auto-Enrolment Will Work Under the new system, Revenue will identify eligible employees, removing the need for manual checks. Once identified, notifications will be issued through payroll software, helping to make the process seamless. From there, contributions will be deducted directly from the employee’s gross pay and matched by the employer. These combined payments will be invested on the employee’s behalf, steadily building a retirement pot without any extra effort from the individual. Who Will Be Affected? Auto-enrolment will apply to employees aged 23 to 60, earning over €20,000 a year, and not already in a qualifying scheme. They’ll be enrolled automatically. Those outside this bracket, younger/older workers, or those earning less won’t be automatically enrolled but will still have the option to opt in.   There are a few important points to take note of: Higher rate taxpayers (40%)  may lose out under auto-enrolment compared with the tax relief available in traditional pension schemes. Standard rate taxpayers (20%)  may prefer the flexibility that existing workplace pensions already provide. It’s not yet fully clear whether employees will be placed directly into the My Future Fund or through a Master Trust PRSA,  something to watch as the launch date gets closer. Contributions & Supports The scheme is built on a shared contributions model, split between employees, employers, and the State. Starting point:  1.5% of gross pay from both employee and employer. Stepping up:  Contributions will rise every three years until they reach 6% each by year ten. Cap:  Contributions will apply on earnings up to €80,000. State top up:  For every €3 put in by the employee and employer, the State will add €1. This structure is designed to keep the cost manageable in the early years, while ensuring savings build steadily over time. Opt Out & Suspension Rules Although auto-enrolment is designed to be simple, employees will still have some flexibility. Opt out:  Between months seven and eight, employees can opt out and have their own contributions refunded. Employer and State contributions will remain invested. Suspension:  Employees can pause contributions for one to two years, with payments resuming once they rejoin.   Why Employees May Prefer Existing Workplace Schemes Auto-enrolment is a positive step for those who currently have no pension coverage. But for many employees, an existing workplace scheme may still prove more attractive: More generous tax relief : particularly for those on the higher 40% tax rate. Room for larger contributions : AE contributions are capped at €80,000 earnings, while traditional schemes often go further. Flexibility : workplace pensions typically offer more choice in investment funds and retirement planning. For that reason, both employees and employers should carefully weigh up the options: stick with auto-enrolment, remain in a traditional scheme, or even take a combined approach.   The launch of auto-enrolment in January 2026 is a milestone for retirement savings in Ireland. For employees, it creates a simple, accessible way to build financial security. For employers, it introduces new responsibilities across payroll, HR, and compliance. The best approach? Plan ahead. By reviewing existing arrangements now, understanding the new rules, and preparing in advance, both employers and employees can make sure they’re ready to get the most out of the system when it arrives. How UHY Can Help At UHY FDW, we know the impact this change will have on employers. From updating payroll systems to budgeting for contributions and guiding employees through their choices, there’s a lot to prepare for. Our team can: Review your workforce and identify who will be automatically enrolled. Ensure your payroll systems are ready for the new contribution requirements. Advise on cost planning to help manage the phased increase in employer contributions. Support HR teams with updating contracts, policies, and employee communications. Provide ongoing compliance reviews to keep your business aligned with legislation as it evolves.   To discuss how auto-enrolment will affect your business , and the steps you can take now, contact   any member of our Payroll team at UHY FDW. Source: gov.ie Source: citizensinformation.ie

Reliable connectivity still eludes many parts of the world. If all businesses are digital now, what happens when your connection is slow, unreliable or unavailable? We look at some of the problems and how they are being addressed. As consumers move online, businesses do too, for sales, marketing and a growing range of operational purposes. Around the world, e-commerce, cloud computing and big data analysis are boosting business efficiency, but all are undermined by slow or unreliable connectivity. AI is the latest technology to significantly improve business operations, but it, too, relies on a robust connection to the internet. Every business needs to be a digital business, otherwise it risks falling behind. The easier it is to get online, and the faster you can work when you do, the more successful you are likely to be. Most analysts would agree that access to fast and reliable broadband internet is a crucial factor in boosting local, regional and national growth and productivity. In developing regions the gains can be significant. Research from the International Telecommunications Union found that, in Africa, an increase of ten percent in mobile broadband penetration can increase GDP by 2.5 percent per capita. Read the full article in our recent UHY Global publication Global Issue 20

The 20th edition of  UHY Global magazine  is now available to read online . This issue continues our commitment to delivering timely insights, expert commentary, and real-world stories that reflect the dynamic nature of international business. The latest  issue of UHY Global magazine is now available to read online .  UHY’s unique business magazine includes current analysis and commentary from the perspective of UHY’s member firm experts across the international network, to provide news, interest and insight for today’s global business community. What’s inside issue 20? In this 20 th  issue of UHY Global , we examine many of the topics and trends that global businesses are currently engaging with. Our cover story, The World Wide Wait, addresses one of the most fundamental issues faced by businesses operating internationally – meeting the challenge of incomplete internet connectivity across different locations. In other features we look at how businesses can address concerns around AI, particularly around job security. We also look at how – in these uncertain times – business risk can be evaluated and how accountants can help. Another feature examines the role of Special Purpose Vehicles (SPVs, another looks at the importance of effective transfer pricing for multi-jurisdiction businesses. We feature three client stories in this issue, a Polish locomotives manufacturer, a British garden buildings start-up and clients in the Americas who are benefiting from close-knit transfer pricing teams. We also feature our regular round-up of global news and a celebration of people and firms across our network,  as well as valuable information on the UHY network itself including a service summary and a members’ directory.

Overview of Legislative Changes Effective 16 July 2025, Section 22 of the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024 commenced, introducing a long awaited change in the audit exemption rules for small and micro companies.  Under this section, companies will now be allowed to file one late Annual Return within a five-year period without losing their audit exemption. Key Changes Previous Rule (Pre-16 July 2025): A late Annual Return resulted in automatic loss of audit exemption for the following two years (Section 363, Companies Act 2014). New Rule (From 16 July 2025): Small and micro companies are now permitted to file one late Annual Return within a five-year period without the loss of their audit exemption.  A second late filing within the same five years results in the loss of audit exemption for the following two years.   Important Points Commencement Period The new rules apply from 16 July 2025.  Late filings prior to this date are subject to the previous legislation. Loss of Exemption A second late filing within the same five year period results in the loss of audit exemption for the next two years.   Standalone vs. Group Companies Standalone Companies The new rules apply to small or micro companies that meet the criteria under the Companies Act 2014, provided they are not part of a group. Group Companies Section 22 does not apply to group companies.  A late filing made by any company within a group (even a small/micro group) will affect the entire group, resulting in the loss of audit exemption.  In such cases, companies may apply to the District Court for an extension.   Late Filing Penalties Penalties Remain CRO late filing penalties are still applicable.  These changes only impact the audit requirement, not the penalties for a late filing.   District Court Applications If a late filing is expected, or a second late filing within a 5 year period is expected, companies can apply to the District Court for an extension.  If granted, the filing is treated as on time, preserving the audit exemption.   Key Takeaways One Late Filing Companies may file one late Annual Return within five years without losing audit exemption.  A second late return within that period triggers loss of exemption for the following two years. Group Companies A late filing by any company in a group results in the loss of audit exemption for the entire group. Timely Filing Always file Annual Returns on time to avoid penalties.  If a late filing is unavoidable, consider applying for a District Court extension.   Need Assistance? If you need further guidance on how these changes affect your company or group, please contact a member of our Corporate Compliance Team. We can assist with CRO filings, help plan ARD extensions together with setting out a filing schedule with you, to preserve audit exemption. Contact our experts Richard Windrum, Corporate Compliance Director Jonathan Kelly, Corporate Compliance Manager Ben Wills, Corporate Compliance Trainee

Part of my job as CEO of the UHY network is to meet member firms around the world. It is invariably an inspiring part of the role, because I am always impressed by the expertise and wholehearted commitment to client satisfaction that I find in the global UHY community. I also come away with more than admiration. Face to face conversations with UHY leaders around the world are always illuminating and regularly educational. I often leave UHY meetings with new ideas and fresh ways of thinking about our work. I see how one firm’s innovation might be applied to the challenges of another. I see how well two firms in different countries are collaborating for the good of a client, and how their model of cooperation might be implemented more widely. There is no big secret here. This is simply the power of connections and personal relationships, and it is something that lies at the core of the success of the UHY network. LOCAL EXPERTISE, GLOBAL AMBITION UHY is a network of independent member firms that collaborate closely for the good of the whole and for the benefit of our clients. As a global network with a focus on connection and cooperation, we are more than the sum of our parts. When we work together we combine local expertise and global ambition. Cross-border clients often comment on the seamless experience of working with UHY members in different countries and the smooth flow of information between our teams – you can read some of our clients stories on our Insights Page. They are impressed by our ease of doing business, which is based on warm relationships and a firm foundation of trust between firms. How do we establish these bonds? In several ways: In-person meetings. UHY runs a calendar of regional, sub-regional and international events and conferences that allow member firm leaders to meet, talk and share expertise. Our events are designed to facilitate informal conversations, spark ideas and create the foundations for future collaboration. Shared resources . Experts in different areas from across our network – audit, tax, specific industries and so on – continually share knowledge and ideas, often through informal groups. Our more formal technical working and special interest develop initiatives and find solutions to improve the performance of the network in key areas, empowering members to offer broader, deeper expertise. Mentorships and peer learning. Structured leadership groups like our Managing Partners’ Forum (which meets every two years) help to cement relationships between senior executives across the network. Our annual UHY Forum, our flagship personal development event brings UHY’s brightest talent together to work and learn together – it forms part of the foundation of UHY’s working together culture. Other peer learning and secondment arrangements give rising leaders access to pooled expertise and global experiences. These examples are the tip of an iceberg of formal and informal connections between member firms. By connecting in these ways, everyone in our network can stay on top of the latest regulatory or compliance initiatives, learn about new digital accountancy techniques and understand shifting client challenges and expectations. Most importantly of all, every UHY member can harness the power of our network for the benefit of their clients. Any firm working through regulatory, technological, compliance or professional challenges on behalf of a client can dip into a deep pool of collective expertise for a solution. When clients need cross-border support, members can confidently recommend the right partner and make fast and friendly introductions. SHARED KNOWLEDGE, SHARED SUCCESS Recent experience of visiting member firms confirms my belief that the strength of UHY lies not only in our global presence but in the quality of our connections – with one another and with clients. I’d like to thank member firms for their commitment to creating the formal and informal bonds that help our network – and our clients – succeed and grow. Throughout all our firms across world, the UHY brand creates a unified banner under which clients feel rightly supported in their cross-border growth. In a nutshell, connections are not just a feature of our network – they are our greatest strength. CEO of UHY International, Rhys Madoc

Transparency and accountability are vital for the charitable sector, not only to comply with legal obligations but to maintain public trust. One of the key frameworks used by charities to achieve this is the Charities Statement of Recommended Practice (SORP). It outlines how charities should prepare their annual accounts and report on their financial activities. The aim is to improve the quality of financial reporting and enhance comparability and understanding of information presented in charity accounts. In Ireland, the use of the Charities SORP is not yet a legal requirement. However, the Charities Regulator encourages its adoption as best practice. Larger Irish charities, especially those with significant public or donor funding, often voluntarily prepare their accounts in accordance with the SORP to demonstrate high standards of financial stewardship and governance. The regulator has indicated support for the move towards mandatory SORP reporting in the future, particularly for larger or more complex charities. Key Features of the Charities SORP Trustees Annual Report The SORP requires a Trustees’ annual report that gives context to the financial data, including: The charity’s objectives and activities Achievement and performance during the year Financial review Plans for the future Structure, governance, and management Reference and administrative details For incorporated charities, a Directors’ Report is still required but can be merged with the Trustees’ Report. Statement of Financial Activities (SoFA): The SoFA replaces the traditional profit and loss account. It shows all income and expenditure categorised by purpose (e.g., restricted vs. unrestricted funds). The SORP requires expenditure to be reported on an activity basis to show how the charity has used its resources to further its charitable aims for the public benefit. Income headings typically include: Donations and legacies Charitable activities Other trading activities Investment income Other income Attention must be given to grant income recognition where SORP requires using a performance model. Expenses headings are: Fundraising activities These typically include seeking donations, grants, and legacies; operating membership schemes, holding events, contracting with agents to raise funds on behalf of the charity; operating charity shops; advertising, marketing and publicity costs, and investment management costs. Charitable activities: The charitable activities include costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries. They also can include support and governance costs relating to the governance of the charity apportioned to charitable activities. Other An additiona l heading can be added to identify significant charitable activities undertaken. Fund Accounting: The fund accounting emphasises the need to distinguish between different types of funds: unrestricted, designated, and restricted. The aim is to help stakeholders understand how resources are used. Other Disclosure Requirements: The SORP requires enhanced notes to financial statements, providing clarity on grants, governance costs, remuneration of key personnel, and other relevant details. The charity must explain any policy it has for holding reserves and justify the reasons for holding them. If trustees believe that holding reserves is unnecessary, their report must disclose this fact and provide the reasons behind this decision. Challenges for Irish Charities While there are clear benefits, some smaller charities face obstacles in adopting the SORP, including complexity and resource constraints. The framework can be demanding for organisations without in-house accounting expertise. Implementing SORP reporting may require additional professional support, which could strain limited budgets. It’s important to note that in order to adopt the SORP, charities require two years of accounting data, ready to report as comparative information. Therefore, planning is crucial. Transitioning to the SORP requires applying the restricted/unrestricted classification to reserves brought forward. Charities need to trace the origins of all current funds to determine whether they are restricted, unrestricted, or endowment funds, even if the income was received years ago. Crucially, the charities must ensure that their accounting systems are fit for purpose and that their records contain the required level of detail. The SORP requires more detailed financial tracking and reporting. The charities should consider the following steps: Upgrading the accounting software to support fund accounting Adjusting their chart of accounts to align with SORP categories Ensuring the ability to distinguish between different income streams Some charities may need to consult with an accountant or auditor experienced in SORP-compliant accounts. If full SORP compliance is too difficult initially, the charities should consider a phased approach: Starting with adopting the SoFA and fund accounting. Improving narrative reporting over time. Implementing complete disclosures once the systems are ready. Although not yet mandatory in Ireland, the SORP provides comprehensive guidance on how charities should prepare their financial statements to ensure consistency, transparency, and comparability. Adopting the Charities SORP in Ireland is a significant step towards improved governance, greater accountability, and better donor confidence. While the process requires commitment, the long-term benefits far outweigh the challenges. The key to success is to start early, seek professional support, and adopt the changes gradually. Contact our team of charity & not-for-profit experts today to start your journey.

Charities exist to serve communities, support causes and drive social impact. Charitable organisations rely heavily on public trust and financial transparency to fulfil their missions. One of the most fundamental components supporting this trust is accurate bookkeeping - the systematic recording and reporting of financial transactions. Despite the often modest administrative resources of many charities, maintaining precise and up-to-date financial records is not optional - it’s essential. Below, we explore the key reasons why accurate bookkeeping is indispensable for non-profits operating in Ireland and offer practical guidance on ensuring financial data remains reliable, transparent, and compliant. Benefits Legal and Regulatory Compliance Charities are subject to stringent financial regulations and reporting requirements. Inaccurate bookkeeping can lead to penalties, loss of charitable status, or even legal action. Good financial records help ensure all statutory filings are accurate and submitted on time and appropriate handling of grants, donations, and public funds. Donor Confidence and Transparency Donors, whether individuals, corporations, or public bodies, want to know how their contributions are used. Transparent, up-to-date financial data allows charities to provide detailed information, and show the portion of funds used for administration versus direct cost on charitable activities, fundraising and governance costs. Financial Management and Decision Making Accurate bookkeeping equips charities with the financial insights needed to monitor cash flow, control spending, budget for future projects, assess the cost-effectiveness of programmes, and to make informed strategic decisions. Without reliable data, charities risk misallocating resources, facing liquidity issues, or making poor investment and operational choices. Safeguarding Against Fraud and Mismanagement Proper financial systems help detect and prevent fraud or mismanagement. This is especially important in the charitable sector, where public perception and ethical standards are paramount. A clear audit trail and internal controls can protect assets from misuse, ensure compliance with funding agreements, and strengthen governance structures. Strengthening Grant Applications and Fundraising Efforts Most grant-making bodies and government funding schemes require detailed financial reports as part of their evaluation process. Accurate bookkeeping allows charities to demonstrate sound financial stewardship, and show an ability to manage and report on funds effectively. Supporting Organisational Growth and Sustainability Scalable, accurate bookkeeping systems support smooth audits, multi-year planning and forecasting, and better risk management. This ensures that the organisation remains sustainable and resilient in a changing economic and regulatory landscape. Best Practices for Accurate Bookkeeping Adopt Suitable Accounting Software: Cloud-based platforms (e.g., Xero, Sage, QuickBooks) tailored for charities simplify data entry, reconciliation, and reporting. Implement Standardised Procedures: Establish written policies for invoicing, expense claims, bank reconciliations, and document retention. Schedule Regular Reviews: Monthly or quarterly checks of bank statements, budget variances, and management accounts catch issues early. Invest in Training: Ensure trustees and finance volunteers understand the basics of charitable accounting and relevant legal obligations. Engage Professional Support: For complex matters - such as audit preparation, tax filings, or SORP compliance - consult chartered accountants specialising in non-profits. For charities in Ireland, accurate bookkeeping is not just an administrative task—it is a cornerstone of credibility, effectiveness, and sustainability. By investing in robust financial systems and practices, charities can better serve their missions, maintain public trust, and ensure long-term impact in their communities. Should you require any advice on charity services, please get in touch with a member of our team. Sign up to our mailing list to keep up to date on all charity and not-for-profit updates.

The Minister for Social Protection, Dara Calleary TD, has officially announced a revised start date for the My Future Fund, Ireland’s new national auto-enrolment retirement savings scheme. Originally set for 30 September 2025, the collection of contributions will now begin on 1 January 2026. This adjustment is designed to align the scheme with the standard tax year, helping to simplify implementation for employers, payroll providers and employees. By doing so, businesses will have additional time to prepare and ensure their systems are compliant and ready for launch. Why the Change? The deferral allows payroll software providers to deliver updates as part of their regular annual tax year release, ensuring smoother integration and minimising disruption. Employers, in turn, gain more time to adapt their payroll processes without facing a mid-year change. Preparing for Launch The Department of Social Protection is working closely with Tata Consultancy Services (TCS) and the Payroll Software Developers Association (PSDA) to finalise the scheme’s systems. Development, integration, and testing efforts are currently ongoing to support a smooth rollout. Meanwhile, the National Automatic Enrolment Retirement Savings Authority (NAERSA) is expected to begin eligibility assessments prior to the January start. This step ensures that the infrastructure is ready, and that eligible employees can begin saving from Day 1. Who Will Be Affected? Over 800,000 employees are anticipated to begin participating in My Future Fund, marking a significant step forward in improving retirement readiness across Ireland. Employers are reminded that they are not required to collect contributions before 1 January 2026, but should begin preparing now. Communication Strategy A three-phase communications strategy is set to launch over the summer, aiming to raise awareness among employees, employers, and the wider public. This campaign will provide guidance on how the scheme works and what stakeholders need to do to prepare. Is Your Business Ready for My Future Fund? Keep up to date with all the upcoming changes and informed of future developments in relation to My Future Fund and other important tax and payroll updates by signing up to our mailing list. If you have any current payroll requirements, our specialists are here to help. Contact our team today to discuss outsourcing your payroll function.

The gender pay gap is the difference in the average hourly wage between men and women across an organisation’s workforce. In Ireland, the Gender Pay Gap Information Act 2021 requires organisations to report on their hourly gender pay gap across a number of key metrics. This reporting aims to increase transparency and encourage meaningful action toward workplace equality. Who Must Report Since the introduction of the legislation, the thresholds for mandatory gender pay gap reporting have evolved: 2022 : Organisations with 250 or more employees  were required to report. 2024 : The threshold lowered to organisations with 150 or more employees . 2025 : For the first time, organisations with 50 or more employees  must report on their gender pay gap. If your organisation now meets the 50-employee threshold, it’s essential to understand your obligations under the law.. Where to Find the Regulations The full legal framework and calculation details are set out in the following regulations: The Employment Equality Act 1998 (section 20A)(Gender Pay Gap Information) Regulations 2022 The Employment Equality Act 1998 (section 20A)(Gender Pay Gap Information)(Amendment) Regulations 2024 The Employment Equality Act 1998 (section 20A) (Gender Pay Gap Information) (Amendment) Regulations 2025 These regulations clarify how the calculations must be made, the reference periods, and the reporting deadlines. The expansion of gender pay gap reporting to organisations with over 50 employees marks a significant step toward greater workplace equality in Ireland. For employers, it’s not just a compliance issue - it’s an opportunity to reflect on your culture, policies, and progress toward inclusion. Connect with our team of experts - we will keep you informed and help ensure you’re fully prepared for the changes and reporting regulations. Source: gov.ie

As everyone knows, we are living in uncertain times. Geopolitical tensions and the climate crisis are creating challenging economic circumstances. Pandemic lockdowns are still an all-too-recent memory. Accountants may never be portrayed as caped superheroes or white knights on horseback, but make no mistake, our evolving skills are needed now more than ever. In these difficult moments, our clients look to us to go beyond the everyday technicalities of tax, annual reporting and audit (important though they are). As trusted advisors, clients need UHY member firm guidance to help them meet the challenges of a new and unpredictable era. Helping create a more sustainable world What might those challenges be? Most obviously, businesses worldwide are prioritising sustainability, as customers, employees, investors and regulators demand they do more to mitigate the impacts of climate change. Sustainability reporting is becoming an increasingly integral part of the annual reporting cycle, and businesses are looking to accountants to help them gather and present the evidence in a clear and insightful way. More UHY member firms around the world are meeting this need, by offering environmental, social and governance (ESG) disclosure and compliance services alongside more traditional financial reporting. In doing so, they are becoming trusted business advisors to their clients as well as technical accountants and tax advisors. Not only are many UHY firms delivering non-financial reporting, but they are also adding value by scanning the regulatory landscape and keeping abreast of a rapidly evolving ESG environment, so their clients can focus on other things.   Clearing the path to cross-border success In a globalised world, businesses operating in multiple jurisdictions are facing new challenges around compliance and regulation that go beyond sustainability and ESG. They include contrasting cross-border tax treatments and a shifting backdrop of trade tariffs and sanctions.  Again, accountants offer a much-valued service in an increasingly complex world. The need for expertise in international tax laws, transfer pricing and cross border financial regulations is growing. Accountancy firms that offer this expertise will always be in great demand. Staying on the right side of local laws and regulations is essential in every jurisdiction that a business operates in. Non-compliant businesses face both financial penalties and the possibility of serious reputational damage. As governments and financial bodies worldwide introduce ever-more stringent accounting and tax regulations, accountants need to be able to offer specialised compliance and risk management services, helping companies navigate complex regulatory landscapes. In this, UHY is well placed to support clients in their ambitions. One benefit of UHY’s global network is its combination of local knowledge and international outlook. Member firms work together to help clients remain compliant across national and continental borders. The promise of technology Accountancy is an increasingly digital business, with forward-looking firms embracing technologies such as automation, AI and blockchain to reduce manual tasks and increase efficiency.  In our own network, firms are taking this one step further, and offering technology advisory services to clients that add strategic value beyond traditional accounting services. For example, while every business wants to adopt AI to some degree or other, many are not sure how it can be moulded to the needs of their organisation. Accountants with the necessary experience can step in to fill the gap. This is an era ripe with risk but also with opportunity. For our clients, accountants offer the path to safer, more sustainable and more compliant business. We reduce their risk, and our wide experience can guide their cross-border operations and help them adopt technology securely and efficiently. We may not be superheroes, but we do have the right skills at the right time. CEO of UHY International, Rhys Madoc

HELP TO BUY (HTB) INCENTIVE The HTB incentive has been introduced in Finance Act 2016 to assist first-time buyers with obtaining the deposit required to purchase or self-build a new house or apartment, which they wish to live in as their home. One of the conditions of this relief is that the contract for the purchase or self-build is entered into with a “qualifying contractor”. Where qualifying residences are being sold, purchasers who have applied for the HTB scheme may only wish to enter into contracts with a qualifying contractor where they are relying on the HTB scheme to purchase the residence. Where you are building qualifying residences, obtaining qualifying contractor status in advance can assist in ensuring contracts can be entered into with HTB applicants in respect of those properties. Read our Contractors FAQs Download for further information. We can help get you registered as a relevant contractor for the HTB scheme so that you are ready to enter into contracts with HTB claimants on properties you are developing. Contact our Tax Team now if you wish to discuss this further #2017