Key Financial Dates to Look Out for in 2025 for Business Owners
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As a business owner, staying on top of important financial dates is key to keeping things running smoothly. From the new changes in Budget 2025 to regular deadlines that come up every year, knowing what’s ahead helps you stay compliant, plan better, and make the most of opportunities. This blog covers some key dates and updates you need to keep your business thriving in the year ahead.
January
Minimum Wage Increase
Starting January 1, 2025, Ireland’s minimum wage has increased by €0.80 to €13.50 per hour, up from €12.70. This 6.3% rise will lead to higher labour costs, requiring businesses to adjust budgets, revise pricing strategies, and ensure payroll systems are compliant with the new rate.
Employers in industries with lower profit margins, such as hospitality or retail, may need to reassess financial strategies to absorb the increase, such as streamlining operations or reallocating resources. For small businesses, the impact on profit margins highlights the importance of careful financial planning and exploring government supports to adapt effectively.
New Tax Regulations
Several measures introduced in Budget 2025 take effect at the start of the year:
Income Tax Changes:
The income threshold for paying the lower 20% tax rate will rise from €42,000 to €44,000. Married couples and civil partners will also see proportionate increases.
Earned Income Credit is raised by €125 to €2,000, offering more savings for self-employed individuals and business owners.
Universal Social Charge (USC):
The 4% rate is reduced to 3%, lowering the tax burden for middle-income earners.
The entry threshold increases to €27,382, aligning with the new minimum wage, which ensures fewer lower-income earners are affected.
VAT Registration Thresholds:
For services: Increased from €40,000 to €42,500, allowing small service providers to remain VAT-exempt.
For goods: Increased from €80,000 to €85,000, benefiting retailers and wholesalers with simplified tax compliance.
SME Special Scheme: a new optional €100,000 EU VAT registration threshold allows EU-resident businesses to sell in other EU states without registering locally, using a new ‘EX’ VAT registration for exempt sales. This simplifies compliance for businesses with small cross-border sales, reducing administrative burdens.
The updated SME Special Scheme includes two thresholds: a domestic threshold (up to €85,000) for sales within the country of establishment and a cross-border threshold (€100,000) for exempt sales in other EU states, requiring an EX number and quarterly sales reports. Non-EU businesses are excluded from this scheme, but the European Commission offers resources to help eligible businesses navigate these VAT simplifications effectively. Read more on the Revenue website.
CAT Threshold Increase
When discussing taxes, a key update that took effect in October 2024 is the increased thresholds for Capital Acquisitions Tax (CAT) in Ireland, which provide more generous allowances for tax-free gifts and inheritances.
The Group A threshold—applying mainly to transfers between parents and children—has risen to €400,000, up from €335,000. This change means individuals can now inherit or receive gifts of higher value within this category without incurring tax, offering significant financial relief for families planning intergenerational wealth transfers.
The Group B threshold, covering transfers between siblings, nieces, nephews, and grandparents, increases to €40,000 from €32,500.
Meanwhile, the Group C threshold, applicable to all other relationships, grows to €20,000 from €16,250.
These adjustments mean individuals can now receive higher-value gifts or inheritances without incurring CAT, reflecting efforts to ease the tax burden on beneficiaries and account for rising asset values.
Lean more by reading our articles on Inheritance tax:
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Research and Development Tax Credit Enhancements:
As part of Budget 2025, the Government has increased the first-year refund limit under the research and development (R&D) tax credit to help businesses innovate. Companies doing research can claim back 25% of their costs, either as cash or against their corporation tax, in three instalments. Previously, the first-year limit was €50,000, but it has now gone up to €75,000 from January 1, 2025.
This change will encourage more businesses to invest in new ideas and projects.
Electric Vehicle (EV) Incentives:
Employers who provide home EV charger installations for employees benefit from a tax exemption, promoting sustainability in the workplace.
Electric Vehicle (EV) incentives are benefits provided by the government to encourage businesses to use electric cars. In Ireland’s Budget 2025, these incentives include tax breaks and grants that make owning EVs more affordable for companies.
For example, businesses can get relief on Benefit-in-Kind (BIK) taxes for company cars, making it cheaper to provide EVs to employees. Additionally, there are grants available for installing charging stations at workplaces.
These incentives help businesses save money on fuel and maintenance, reduce their environmental impact, and demonstrate a commitment to sustainability, which can enhance their reputation with customers and partners.
Residential Zoned Land Tax
The Residential Zoned Land Tax (RZLT) is a 3% annual tax on the market value of land zoned for residential use and ready for development, aimed at encouraging efficient use of such land.
Under the Finance Act 2024, landowners can request a rezoning of their property with Local Authorities before the revised map is published on 31 January 2025. If rezoning is granted, an exemption from RZLT for 2025 may be claimed, provided the landowner registers for RZLT and files an RZLT return. Registration for RZLT opens in January 2025, with the initial payment deadline on 23 May 2025.
For business owners, this tax emphasises the importance of managing land assets strategically and proactively engaging with rezoning opportunities to minimise tax liabilities.
Retirement Relief Update
From 1 January 2025, the upper age limit for Retirement Relief will increase from 65 to 70, giving business owners more time to plan the transfer of their assets.
However, if a child or children who receive these assets sell them within 12 years and the value exceeds €10 million, a clawback of the relief will apply. If the assets are retained for more than 12 years, they will qualify for a full waiver of Capital Gains Tax (CGT). This change encourages long-term asset retention while offering flexibility for retirement planning.
Retirement relief is a Capital Gains Tax (CGT) benefit for individuals selling ‘qualifying assets’ related to their business, such as premises, goodwill, farming land, or shares in a family-owned company. This relief can completely eliminate your CGT liability if specific conditions are met. Despite the name, you don’t need to retire to qualify. You can continue working in the business even after selling the assets and still enjoy the tax savings, making it a flexible and valuable option for business owners.
Learn more by reading our article about Retirement Relief.
Small Benefit Exemption Planning
Starting 1 January 2025, employers in Ireland can provide employees with up to five small benefits tax-free each year, as long as the combined value does not exceed €1,500. These benefits cannot be in cash, and if more than five are given, only the first five qualify for the exemption.
A single benefit up to €1,500 is also tax-free, but if its value exceeds €1,500, the entire amount becomes taxable. This exemption offers a tax-efficient way to reward employees, with clear limits to ensure compliance. Read more on the Revenue website.
September
Auto-Enrolment Retirement Savings Scheme
Auto-enrolment is an important step to help people save for retirement. It makes saving easy by automatically enrolling employees who don’t already have a pension. Both employers and the government add to the employees’ contributions, creating a bigger retirement fund over time. This ensures that more people have financial security in their later years, reducing the risk of struggling with money after they stop working.
Who It’s Important For
- Employees Without Pension Coverage: The scheme is primarily designed for workers who currently don’t have access to workplace pension plans, particularly those aged 23 to 60 years earning over €20,000 annually.
- Younger Workers: Starting early gives younger employees the benefit of compounding growth on their pension savings over a longer period.
- Employers: Employers are required to contribute to their employees’ pension funds.
- Government: Auto-Enrolment reduces future dependency on the State Pension system, promoting financial sustainability.
Find out if auto-enrolment is the right fit for your business—read our insightful article Is Auto-Enrolment the Best Option for Your Business?. Additionally, reading through our questions and answers on Auto Enrolment can give you a clear understanding of how it could affect your business.
Pension auto-enrolment has been delayed from 30 September 2025 to 1 January 2026.
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October
Income Tax Deadline for Self-Employed Individuals
This is one of the most crucial financial deadlines of the year. Self-employed individuals must file their income tax return and pay any balance of income tax owed for the previous year by the end of October. If you file and pay taxes through the Revenue Online Service (ROS), the deadline is typically mid-November.
This is also an opportunity to make pension contributions, which can significantly reduce tax liabilities by providing valuable tax relief.
Meeting the income tax deadline avoids penalties and interest while allowing pension contributions to reduce taxable income, supporting long-term financial planning.
Self-employed individuals, business owners, and those with income not subject to Pay As You Earn (PAYE) can lower their tax bills and invest in their future by staying compliant and making timely pension contributions.
Learn more by reading our article on reducing income tax bills via pension contributions.
November
Income Tax Deadline for Self-Employed Individuals – ROS
Revenue Online Service users have until this date to file and pay income taxes. If you file and pay taxes through the Revenue Online Service (ROS), the deadline is typically mid-November.
Other Important Dates and Updates for 2025
VAT Return Deadline
Businesses must submit their Value-Added Tax (VAT) returns and payments by the 19th day of the month following each taxable period. For those filing through the Revenue Online Service (ROS), this deadline is extended to the 23rd day. Taxable periods are typically bi-monthly, starting on the first day of January, March, May, July, September, and November. Timely submission is crucial to avoid interest and penalties.
Annual Returns Filing with the CRO
Companies must file annual returns with the Companies Registration Office (CRO). Timely filing ensures your business maintains its audit exemption status and avoids late fees. This is also a good time to review your company’s financial statements and corporate governance practices.
The filing date for an Annual Return with the Companies Registration Office (CRO) depends on the company’s Annual Return Date (ARD), which varies from company to company. For example:
- If your ARD is 30 April, your filing deadline would be 25 June (56 days later).
- If your ARD is 31 May, your filing deadline would be 26 July.
To determine your specific filing date, you can check the CRO’s CORE online system or your company’s registered ARD.
Angel Investor Relief
The new Capital Gains Tax (CGT) entrepreneur relief of 16% for angel investors in innovative start-up SMEs, announced in Budget 2024, is set to commence soon. This relief allows investors to benefit when they dispose of qualifying investments, with gains up to twice the value of their original investment eligible for the reduced rate.
Additionally, the cap on eligible gains has been significantly increased from €3 million to €10 million, providing a major incentive for individuals to support and invest in high-potential start-ups. This change aims to boost entrepreneurial activity and innovation in the SME sector.
Supports for farmers
Supports for farmers have been extended, with several key tax reliefs set to continue until 31 December 2027. These include General Farmer Stock Relief, which provides a deduction based on increases in the value of trading stock; Young Trained Farmer Stock Relief, offering enhanced relief to encourage younger generations to enter farming; and Registered Farm Partnership Stock Relief, designed to support collaborative farming arrangements.
These measures aim to promote the growth and sustainability of the agricultural sector by reducing tax burdens and encouraging innovation and partnerships in farming.
Stamp Duty Increase
The increase in stamp duty from 10% to 15% on bulk acquisitions of houses in Ireland took effect on 2 October 2024.
The stamp duty rate on bulk acquisitions of houses has increased from 10% to 15%, making it more costly for investors or businesses purchasing multiple residential properties in a single transaction. This change aims to discourage bulk buying, ensuring more homes are available for individual buyers.
For businesses involved in property investment or development, this increase highlights the need for careful financial planning and consideration of the additional costs when acquiring properties in bulk.
Why Staying Organised Matters
Failing to meet deadlines and stay updated on financial obligations can lead to penalties, missed tax relief opportunities, and delays in accessing valuable financial benefits.
These setbacks can hurt your business and slow down growth. Proactive financial planning is essential for ensuring compliance, maximising available tax incentives, and staying ahead of regulatory changes.
By staying organised and informed, you can focus on scaling your business with confidence, avoiding unnecessary stress, and making the most of opportunities to strengthen your financial position.
Final Tips for Business Owners
Set Reminders: Use digital tools or calendars to track deadlines.
Consult Professionals: Our financial advisors can help you stay prepared.
Stay Informed: Monitor updates from Revenue and government bodies for any changes. You can download the Budget 2025 Summary to stay informed about the latest changes that could affect your personal and business finances. It provides an overview of key updates, such as tax adjustments, reliefs, and incentives, helping you understand how they might impact your financial planning.
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Our experienced financial advisors are here to help you and your business create a solid financial plan tailored to your goals. Whether it’s managing taxes, planning for retirement, or optimising your investments, we provide expert advice to guide you every step of the way. Secure your financial future with a personalised strategy designed for success.
We are also experts in personal and business protection, savings and investments, pension tracing, personal and business financial planning, mortgages, and wealth management and extraction.
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All our content has been written or overseen by a qualified financial advisor. However, you should always seek individual financial advice for your unique circumstances.
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