Revenue has updated its detailed guidance on the TBESS including new guidance on registering and making claims. The guidance, available on the Revenue website and linked here, includes screenshots from the TBESS e-Registration portal and sample electricity and natural gas bills to assist businesses.
 
Eligible businesses can register for the TBESS, via the e-Registration facility in Revenue’s Online Service (ROS) which opened on Saturday 26th November.
 
Following registration, businesses will be able to submit claims under the scheme from 5 December. A claim portal in respect of TBESS will be available via the eRepayments system on ROS in early December.
 
To prepare for the claim stage, a business will need all the electricity and natural gas bills for the reference period of September 1, 2021 to February 28, 2022. A business will also require the current energy bill to make a claim.
 
Qualifying claims will be paid once the enabling legislation in Finance Bill 2022 has been signed into law. Eligible businesses that have successfully completed registration and made valid claims by the third week in December for September, October and November will be paid before the end of the year.

In response to the need for extra workers, employers may take on seasonal staff. Before you do this, it may be important to note the following points:

• Seasonal staff should be aware that their employment is for a specific purpose and not indefinite.
  
• Despite seasonal employment being short-term, you still need to provide a written statement specifying the terms and conditions of employment. In particular, the fixed-term, specific purpose or event that will trigger the termination of the temporary contract.
  
• Seasonal staffing must also take account of the ban on zero-hours contracts
  
• It’s possible to agree with your seasonal staff that unfair dismissals legislation won’t apply in certain cases. These include either the expiry of the fixed-term or the achievement of the purpose specified in the contract.
  
• Despite the fact that they’re short-term, you still need to provide your temporary staff with an induction. This will allow you to specify what you expect of them, and the standards your business adheres to.

Authorisation from the Central Bank of Ireland is now required in relation to a broader scope of credit which also includes hire-purchase and consumer-hire business.

A new cap of 23% APR has been imposed on consumer credit agreements and consumer hire-purchase agreements. The authorisation requirements apply in relation to a regulated business, which includes the business of a retail credit firm or the business of a credit servicing firm.

Under the new Act, the definition of “credit servicing”, has been expanded to require an authorisation where a firm engages in the following activities in respect of consumer-hire and hire-purchase agreements:

• the holding of legal title to the rights of the owner under the agreement
  
• the management or administration of the agreement, or
  
• communicating with the hirer in respect of the management or administration of the agreement

​In addition, the 2022 Act amends the 1995 Act such that it applies to a person who has invited, by way of advertisement, consumers to avail of credit without payment of interest or any other charge.

The interim period of the Companies (Miscellaneous Provisions) (Covid-19) Act 2020 has been further extended to 31 December 2022 following Government approval. The Act makes temporary amendments to the Companies Act 2014 and the Industrial and Provident Societies Act 1893 to address issues arising as a result of Covid-19.

The Act makes provision in respect of business solvency by increasing the period of examinership to 150 days and increasing the threshold at which a company is deemed unable to pay its debts to €50,000.
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The Act also extends the provisions allowing 240,000 companies and 950 industrial and provident societies in Ireland to hold their Annual General Meetings (AGMs) and general meetings by electronic means. The continuation of these important amendments will provide additional breathing space to struggling businesses and provide continuity for businesses to the end of this year.

The Irish pension landscape is changing rapidly. 2021 saw a plethora of publications, primarily from the Pensions Authority setting out the framework under which pension schemes will have to operate. There is more to come between now and when Auto Enrolment (a pension investment Scheme making personal pensions mandatory for all employees) arrives in early 2024 as part of Government’s strategic plan to increase pension coverage in Ireland to help combat long term pension deficits as our population ages.
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In 2021 IORP II was transposed into Irish law, and this has been a game changer for those that want to invest and control what their pension scheme invests in, the popular asset being property. While the pension framework has become more complicated and requires sound professional advice to navigate through, it is still possible to invest in unregulated assets such as property or assets not readily available through off the shelf pension scheme. Indeed, it remains possible to borrow within a pension arrangement to invest in property. The key is to understand each pension arrangement, and which one is right for you?