Brian O Connor

⚠ ATTENTION BUSINESS OWNERS ⚠ The publication of the Finance Bill 2024 will bring a significant shift in the PRSA landscape in Ireland, in particular for company owners, in 2025. As things stand, there is no limit to how much a company owner can pay into a PRSA. As of 1st January 2025, it will be capped at 100% of their salary. In practical terms, you could have a company owner taking a salary of €40k from their business, but who is putting €100k into their PRSA in 2024. In 2025 and beyond, they will be capped at €40k. Any contributions above the 100% cap will be subject to BIK. This is a big shift, and I'd highly recommend that any company owner sitting on a healthy balance sheet should take financial advice very soon with a view to maximising the current PRSA position before it changes. DNG Financial Services James Kane MSc, CFP®Tom Flanagan BBS QFA CFP®Rebecca Harlow QFA Suzanne Kennedy QFA APA #financebill2024 #prsa #pension #retirementplanning #businessowners #companydirectors #dng #dngfs #dngfinancialservices

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We are pleased to have supported VPI as Sole Structuring Bank for the the refinance of the 200MW Battery Energy Storage Systems at its Lumcloon and Shannonbridge sites in Ireland. The transaction further demonstrates our commitment to supporting the green energy transition and security of supply #BESS #EnergyStorage

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FD Technologies, the London-listed Irish consulting firm, has proposed a tender offer to return up to £120 million (€145.7 million) to shareholders

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𝗨𝗣 𝗧𝗢 𝟱𝟬% 𝗧𝗔𝗫 𝗥𝗘𝗟𝗜𝗘𝗙 𝗪𝗜𝗧𝗛 𝗘𝗜𝗜𝗦 𝗜𝗡𝗩𝗘𝗦𝗧𝗠𝗘𝗡𝗧𝗦 On 1st November 2024, Quintas Capital will open The EIIS Innovation Fund to investors. This Fund supports the growth of Irish enterprises through the Employment Investment Incentive Scheme (EIIS) while offering investors significant tax relief of up to 50%. The slides below outline how the Fund works and the expected returns. We’ve also just released our EIIS Key Information Document, which is available for download on our website (link in the comments section) or by contacting us directly at [email protected]. In the coming weeks, we’ll be hosting a webinar where we’ll explain the EIIS Fund in detail and answer any questions you have. Further information will be released soon. 𝑲𝒆𝒚 𝑷𝒐𝒊𝒏𝒕𝒔: - Minimum investment per investor: €25,000 - Maximum investment per investor: €1,000,000 - Fund closes on 31st December 2024 Disclaimer: This post is for informational purposes only and should not be considered as financial advice. Quintas Capital Regulated Limited is regulated by the Central Bank of Ireland. #EIIS #TaxRelief #InvestInIreland #QuintasCapital | Kevin Canning | Tim O'Callaghan | Brian Devine, CFA | Kim Ronayne | Kevin MacSweeny | Fawad Tariq-Khan | John Riordan | Gary Fox

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I talked to Claire Byrne on RTE this morning about heightened Revenue interest in whether employers are applying #BIK tax charges to staff hospitality. Listen back from 1hour 4min mark: https://lnkd.in/e7N87R8Z While I fully recognise that Revenue has to operate within the realms of the current #tax legislation, treating sandwiches, biscuits or tea/coffee provided to staff at team meetings as a #benefit-#in-#kind is taking it too far. These are #working lunches which are part of the normal commercial operation of a business and many staff wouldn't perceive them as a benefit. The #cost and #administration of this tax charge is crippling for many small businesses and as a result many are culling these small extras - which will have an impact on staff morale. Contrast this to the larger companies who have staff canteens and where no BIK arises. Chartered Accountants Ireland, under the auspices of the CCAB-I, is writing to the Department of Finance on this matter. Gearóid O'Sullivan Barry Doyle Gráinne McDermott Enda Faughnan

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Manufacturing costs, energy and inflationary pressures 🔍 The Ulster Economix Podcast: EP 38 🔊🎙️ ➡️ Listen in full at UlsterEconomix.com

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Last week a senior group from the OECD visited Foynes as part of a review of Irish Rural Development Policy. On behalf of the Shannon Estuary Economic Taskforce, I provided a brief perspective on the current situation in ‘regional’ Ireland and the potential for the future. Before that, Margaret O'Shaughnessy, gave us a tour of the Fying Boat Museum. Margaret is one of the most impressive people I have ever met. Its nothing short of amazing what she has achieved over the last 35 years. I highly recommend visiting - both for work and pleasure. She has a conference room and excellent catering facilities, an ideal place to host an offsite meeting for your Team. For the OECD Review, the facts are clear: 1) The hundreds of years old trend continues, people continue to migrate east to Dublin for better prospects. 2) Over half our students leave the region on graduation. third level education is in crisis, colleges are attracting significant numbers of students directly from abroad for money, and dropout rates of local students have increased significantly due to lack of accomodation, cost of living, teaching support etc. 3) IDA Ireland has made a significant impact in providing jobs in regions, but they cannot solve this alone. 4) Per Eurostat, the infrastructure in our region is 50% of the EU average, in the Midlands/NW its just 34%, Dublin 115%. 5) Irish Green policy, now part of Irish government policy, halved the proportion of transport spending on roads. To date, we are denied ring roads and bypasses around regional cities and towns or a motorway connecting our second and third biggest, Cork and Limerick. Rural roads are in an appalling state. 6) Irish Green policy also prohibits the provision of energy security for imported natural gas supply, in stark contrast to the German Green Leader, Robert Habeck, who has opened multiple new LNG facilities there in the last 2 years. However, it is clear that Irish Government Energy policy, heavily weighted towards renewables, will not achieve its targets for 2030 or 2040, due to the lack of a detailed Plan, and this will have a detrimental impact on the economy, but much more on rural regions than the capital. 7) Major international tech investors, key contributors to Ireland over the last 30 years, are now investing heavily elsewhere due to lack of power and basic infrastructure. 8) Regional towns, cities and villages are often limited in their capacity to expand due to lack of water, wastewater, electricity etc. We need significant and sustained investment in Ireland’s regions to enable equality of opportunity for all, regardless of where they live on this Island. It is not sustainable to be in the most peripheral region in the EU with 50% of the average infrastructure and expect to live happily ever after. The big opportunity is to start harvesting the Atlantic wind to provide green and secure energy for Europe, but we must start now. We need many more people like Margaret O'Shaughnessy

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Investors, take note: Ireland's mining sector is booming with untapped opportunities in critical minerals like lithium and copper. Find out why experts say this is a must-watch market

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Some reflections on developments in the past week. Its great to see GT’s report confirming what many sense is a growing level of optimism on the outlook of the Irish economy for next 12 months. A useful read for small/mid level businesses as it counters the optimism with caution about the growing cost of doing business - Energy costs Nr 1, plus squeeze on firms ability to invest in tech. https://lnkd.in/et24rkpy Our neighbouring market in the UK is showing Green Shoots as noted in this FT article, which is a positive for businesses looking to grow their presence there. https://on.ft.com/4fly98 The exec summ report from the #NationalCompetitivenessAndProductivityCouncil this week is a worth a scan - confirms market is operating at full capacity and needs intervention to relieve this pressure and to allow businesses continue to grow. Several sensible recommendations for Gov in upcoming budget, including - Gov to enhance tests on cost impacts on SMEs of greater regulation or new Gov policies / Gov to prioritise addressing shortages in Green, Digital, Construction skills / prioritise capital investment plans to align with the above. https://lnkd.in/eQbWT_Hu More big deals in the M&E space - news of #DornanGroup being acquired by Turner’s (part of the global ACS Group). Vote of confidence in the outlook for the tech sector. Congrats to #BrianAcheson and the DG team. https://lnkd.in/eEC6ia6f My engagements in recent weeks with mid market businesses have shown up the challenges business owners and leaders have in terms of working ON their businesses. Was with #EnterpriseIreland and saw first hand the support they are giving to help in this respect. More businesses should look to leverage this. Best wishes to our Irish teams in the Olympics - feeling very optimistic about the medals….

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As I note in this RTE piece, the ECB delivered an early Christmas present to borrowers at its final meeting of the year, reducing interest rates by a quarter-point, in what was the fourth cut of 2024. New staff projections show the disinflation process is well advanced in the Euro area and have GDP expanding in 2025. The growth outlook for the zone is not overly stellar though; there is uncertainty related to political developments in France and Germany and global trade tensions pose a risk. While President Lagarde didn’t pre-commit to a particular path for interest rates today, EY’s expectation is that she and her colleagues will be ringing in the New Year with further cuts. Carol Murphy Shane Mac Sweeney Simon MacAllister Barry Dunning Olive Stephens

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Excellent article published today in The Currency by Tom Lyons, featuring Quintas Capital, highlighting the impact of our EIIS Fund on the Irish economy. Our EIIS Fund is raising €8 million to invest in up to six Irish businesses across sectors such as renewable energy, childcare, and healthcare - categories critical to Ireland’s social infrastructure. Investors can benefit from 50% tax relief, making this an attractive opportunity to support high-potential businesses while reducing tax liabilities. Please reach out if you would like to learn more.

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Simply Asset Finance Achieves Milestone Growth in Northern Ireland Read more: https://lnkd.in/dTVavPn8 #SimplyAssetFinance #MilestoneGrowth #NorthernIreland #AssetFinance #BusinessExpansion #finance #fintech #FinancialIT

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New episode: Paula Campbell, Senior Investment Analyst, and Paul Saunders, Senior Investment Director, from the Ireland Strategic Investment Fund (ISIF) speak about ISIF’s climate investment strategy and the Funds €1 billion climate related investment ambition. They discuss some of ISIF’s recent climate investments and the Fund’s progress towards achieving that €1 billion ambition. Listen here: https://lnkd.in/exKwwH4R #ISIF #Climate #ClimateInvestment #NetZero

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Manufacturing is vital to Ireland’s economy, making up 35% of GDP—with SMEs playing a crucial role. Hear from BGF investor Joe Higgins, as he dives into key factors for growth in the sector, the importance of finding a niche, and the BGF portfolio businesses getting it right — Revive Active, Aubren Limited, and Croom Medical to name a few! Read here: https://lnkd.in/e638AtAC #Manufacturing #BGF #IrelandEconomy #IrishSMEs

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Navigating an evolving investment landscape for Ireland 🌍 Schroders has a 200-year history of navigating the complexities of a changing world. At the Dublin Investment Conference next week, we look forward to addressing the critical questions, news and trends facing Irish investors. What to expect Investment insights: across public and private markets. 📈 Industry thought leaders: external speakers and leading voices across our industry. 🗣️ Irish investment landscape: latest initiatives and reforms in Ireland and their impact on your investment strategies. 🔍 Networking opportunities: conclude with a networking lunch, offering the chance to talk to our speakers, your peers, and Schroders' Fund Managers. 🤝 We look forward to a day of insightful discussion and valuable connections. 📅

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Ibec published its new Economic Outlook earlier today, forecasting GDP growth of 2% in 2024 and 2.7% in 2025. The report highlights that, while the Irish economy is experiencing some moderation in growth after five years of remarkable expansion, the economic outlook remains positive. However, the Outlook also notes that under-delivery in critical infrastructure is constraining the potential for growth in both domestic businesses and foreign direct investment. Read the full report here 👉 https://lnkd.in/e8iRisDN

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Great to meet Minister Jack Chambers yesterday with the team from Chartered Accountants Ireland on behalf of CCAB-I for our pre-budget submission. Thank you to the Minister and his team for listening and having such positive engagement with us. The 5 key points we set out were: 🗂️ERR and general business compliance - the real time aspect of ERR needs reconsideration due to the impact on business and employees and while all businesses want to be compliant in all obligations, increasing red tape is becoming a real burden. 💶cost of business - 90% of SMEs in our recent survey cited the cost of labour as their biggest challenge and 60% want to hire more in order to grow their business - this needs to be supported and we believe that a reduction of 1.5% in employer PRSI to offset auto-enrollment would be of great support. ⬇️ lower CGT - we are advocating for a rate of 25%, our CGT is far higher than the EU average and a lower rate will stimulate activity. 📜employee share options - challenges faced by employees in private companies on the taxation of share options means that employees can end up with a tax bill prior to any form of liquidity event, deferral of such taxes until liquidity will be a real boost to our domestic SME and startups and the fantastic talent they employ. 🌎international and global domestic business remain a key part to our economy, rules on dividend exemption, interest limitation and ensuring our adoption of Pilar 2 is proportionate are important considerations coming forward. Cróna Clohisey Barry Dempsey Gearóid O'Sullivan Sarah Meredith Pamela McCreedy FCA Joan Curry, FCA Sinead Donovan

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This is a huge infra/private capital investment that's really interesting in the context of reshoring/strategic autonomy in a world that is being rapidly reshaped by tech and geopolitical tension ... ultimately even the tech titan's of today will need to find ways to tap private capital in this space ... and if this continues the demand for capital is going to way out run the existing allocated supply ... #reshoring #geopolitics #infrastructure #privatemarkets

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The Ireland Strategic Investment Fund is pleased to announce a €15m commitment to Next Food Capital, a private equity fund managed by Kharis Capital. Next Food Capital (the “Fund”) invests in early-growth stage foodtech companies, helping them scale across European markets. One of ISIF’s strategic pillars is to scale indigenous food and agricultural businesses to grow internationally with a focus on innovation, value-add and sustainability. As Ireland’s primary indigenous industry, food & agriculture is particularly important for regional and rural Ireland and forms a key part of ISIF’s investment strategy given its alignment with ISIF’s priority investment themes. Read More here >>> https://lnkd.in/erT9ZsZ7 Nick Ashmore, Rebekah Brady, Cathal Fitzgerald, Sean Mulvany, Darren Laheen

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