Author: Practicenet

New law aims to protect workers in casual employment

A new law to protect workers in casual and precarious employment comes into effect today, aimed at improving the security and predictability of working hours. A “band of hours” system is being introduced where an employee’s contract does not reflect actual hours worked. Under the legislation, a worker is now entitled to be placed on […]

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More Corporation Tax than expected in February’s Exchequer returns

Exchequer returns for February show a shortfall in Income Tax and VAT receipts, but these are largely offset by a bigger than expected payments of Corporation Tax. In February, €1.6 billion in income tax was collected, which was €156 million lower than expected. The Department of Finance says this is mainly due to some late […]

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Irish businesses now stockpiling raw materials ahead of Brexit date

The clearest evidence yet has emerged of stockpiling by Irish businesses ahead of Brexit in the latest evidence of how the UK’s planned exit from the EU is hitting Irish industry. With 27 days to go before Brexit, Irish manufacturers have increased stocks of raw material at a record pace, according to the latest Manufacturing […]

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‘We are the champions: business lessons courtesy of Freddie Mercury’

Interest in rock band Queen has enjoyed a renaissance recent months. People above a certain age are talking about them again and humming their iconic songs. The newly-released Bohemian Rhapsody movie has put the band back on our radar in a big way. I must confess, I had forgotten about many of its greatest hits […]

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Is there any tax relief available if I rent a room to a student?

Question: I am thinking of opening up a room in my home to a student as digs. Is there any tax relief available for this, and I am wondering whether or not renting a room will have any impact on my mortgage interest relief? Answer: Given the housing situation at the moment choosing to take […]

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Insurance chief attacks slow pace of claim culture reform

There’s a “high risk” that insurance cost and claims reform will wither on the political agenda, according to FBD chief executive Fiona Muldoon. She has blasted the snail’s pace of planned reforms but conceded that the strong set of full-year results posted by her stock market-listed insurance group yesterday does little to advance its cause […]

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Surge in number of data breaches reported to Commission in 2018

The number of data breaches reported to the Data Protection Commission soared by 70% last year, as new data protection rules were introduced across Europe. In total, the watchdog was notified of 4,740 breaches during 2018, with 3,542 of those lodged in the seven months after the General Data Protection Regulation came into force in […]

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EU agrees measures to tighten oversight of foreign finance firms

European Union governments and lawmakers have reached agreement on tighter rules for asset managers and investment firms offering “bank-like” services, such as proprietary trading and underwriting of financial instruments. The agreement will give the European Commission more power in overseeing foreign financial firms operating in the EU, including more clout over London-based financial firms after […]

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Electric Ireland to increase electricity and gas prices by 4% from April

Electric Ireland customers have become the latest to feel the pain of price hikes after the largest provider in the State announced its intention to increase residential electricity and gas prices by 4 per cent from the beginning of April. It is the second price increase from Electric Ireland in just more than six months […]

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Permanent TSB’s 2018 profits jump 45% on increased market share

Permanent TSB has reported a 45% jump in pre-tax profits, before exceptionals, for 2018 as its total new lending volumes increased by over 40%. The bank said its pre-tax profits, before exceptionals, climbed to €94m, while its total new lending volumes amounted to €1.5 billion. It said its non-performing loans reduced by 68% from €5.3 […]

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