Updates · 2024 – 2026
Ireland Financial News & Updates
Tax, ECB rate, mortgage, rent, savings, pension, welfare, pay and energy changes affecting Irish residents — each summarised from the announcement by the government department or agency, the central bank or the company that made it, and linked to the original.
All updates
78 updates, newest first
SEAI Grants to Expand From 6 Oct 2026: EUR 2,000 Boiler Scrappage and EUR 600 Home Battery Grant
The Department of Climate, Energy and the Environment announced enhanced Sustainable Energy Authority of Ireland (SEAI) grants opening from 6 Oct 2026, subject to final implementation arrangements, including a EUR 2,000 fossil fuel boiler scrappage grant, a EUR 600 home battery grant, and solar PV and battery as standard under the fully funded Warmer Homes Scheme.
What changed (effective 6 Oct 2026)
- Fossil fuel boiler scrappage grant: EUR 2,000 for houses built pre-2021; added automatically to eligible heat pump applications already in progress
- Home battery grant: EUR 600
- Warmer Homes Scheme: solar PV (up to 4kWp) and battery (5kWh) offered as standard, fully funded
- Solar PV and battery grants: up to EUR 9,000 for eligible homeowners on certain Department of Social Protection payments and for homes in Dublin RAS Pilot tenancies
- Insulation for HAP and RAS tenancies: attic EUR 1,400 to EUR 2,500 and cavity wall EUR 900 to EUR 2,300, depending on the house type
- Solar PV and solar thermal grants: eligibility extended to houses built and occupied pre-2025
Fuel Allowance 2026/27 Season Starts: EUR 38 a Week for 28 Weeks to Over 465,000 Households
The Department of Social Protection announced the start of Fuel Allowance payments for the 2026/27 season to over 465,000 households, at the weekly rate of EUR 38 for 28 weeks or two instalments of EUR 532 each. People who move from Disability Allowance or Blind Pension into employment from 28 Sep 2026 keep Fuel Allowance for up to 5 years.
What changed
- Weekly rate: EUR 38 for 28 weeks
- Instalment option: two payments of EUR 532 each; the second is paid in Jan 2027
- Households eligible: more than 465,000, approximately 26% of all households
- Moving from Disability Allowance or Blind Pension to work: Fuel Allowance kept for up to 5 years for moves from 28 Sep 2026 (a Budget 2026 measure)
- Working Family Payment recipients: eligible since Jan 2026 if they meet the qualifying criteria; almost 50,000 qualify
AIB Raises Tracker Mortgage Rates by 0.25 Percentage Points After ECB Refinancing Rate Rise
AIB said tracker mortgage rates will rise by 0.25 percentage points for all its tracker mortgages linked to the ECB rate, after the European Central Bank (ECB) announced on 10 Sep 2026 a 0.25 percentage point increase in its refinancing rate. The change happens during September and October 2026, with AIB writing to each tracker customer with the new rate and date; its variable and fixed rates are not affected.
What changed
- Tracker mortgage rates: up 0.25 percentage points (all tracker mortgages linked to the ECB rate)
- Timing: during September and October 2026; AIB writes to each tracker customer with the new rate and date
- Standard Variable Rate, LTV Variable Rates and Fixed Rates: not affected
- Trigger: ECB refinancing rate up 0.25 percentage points, announced 10 Sep 2026
Company announcement — figures are from AIB Group (Allied Irish Banks)’s own release, not an official government source.
ECB Raises Deposit Facility Rate to 2.50% and Main Refinancing Operations Rate to 2.65%
The European Central Bank (ECB) Governing Council decided on 10 Sep 2026 to raise the three key ECB interest rates by 25 basis points, saying the conflict in the Middle East continues to generate inflation pressures. The deposit facility rate rises to 2.50%, the main refinancing operations rate to 2.65% and the marginal lending facility rate to 2.90%, with effect from 16 Sep 2026.
What changed (effective 16 Sep 2026)
- Deposit facility rate: 2.50% (up 25 basis points)
- Main refinancing operations rate: 2.65% (up 25 basis points)
- Marginal lending facility rate: 2.90% (up 25 basis points)
Planned Investment Account for 2027 Outside Deemed Disposal; Rate and Limits Due in Budget 2027
The Department of Finance published a Roadmap for the Taxation of Retail Investment setting out a planned Investment Account, to be legislated for in the Budget and Finance Bill and made available in 2027, with a low flat rate of tax charged annually on the value above a tax-free threshold. Deemed disposal would not apply inside the account; the threshold, rate and contribution limit are due in Budget 2027.
What changed
- Availability (planned): 2027; legislative framework intended in Finance (No. 2) Bill 2026
- Eligibility: Irish tax-resident individuals aged 18 and over with a PPSN; one account per person
- Tax treatment: low flat rate charged annually on the value above a tax-free threshold; deemed disposal not to apply
- Tax-free threshold, flat rate, annual contribution limit: to be announced in Budget 2027
- Eligible investments: listed shares and bonds, regulated-market instruments and retail funds including ETFs; derivatives and crypto assets excluded
- Wider regime (rate, deemed disposal): areas for consideration from Budget 2028; Budget 2026 reduced the rate on Irish and equivalent offshore funds and life assurance products from 41% to 38%
Rental Law Changes from 14 Sep 2026: RTB Fixed Payment Notices and Public Adjudication Hearings
The Residential Tenancies Board (RTB) said on 31 Aug 2026 that changes under the Housing and Residential Tenancies (Miscellaneous Provisions) Act 2026 take effect on 14 Sep 2026, letting the RTB issue fixed payment notices for six breaches of rental law, with a fine of EUR 200 for a rent breach and EUR 100 for other breaches, and making adjudication hearings public.
What changed (effective 14 Sep 2026)
- Fixed payment notices: for six breaches, including setting rent above the legal limit and failing to register a tenancy
- Fines: EUR 200 for a rent breach; EUR 100 for all other breaches
- Adjudication hearings: held in public, with full reports published, for dispute applications made from 14 Sep 2026
- Notice of termination or rent review: copy served on the RTB within 7 days of serving the tenant (previously the same day)
- Tribunal hearing notice: 10 working days (previously 21 calendar days)
- Appeal of a mediation case: 10 working days (previously 10 calendar days for a tenant)
Fuel Excise Cuts to Stay in Full Until 31 Oct 2026, Then Be Restored in Four Stages by 28 Feb 2027
The Government approved on 27 Aug 2026, subject to a financial resolution in the Dáil, keeping the current reductions in excise duty on petrol, auto diesel and marked gas oil fully in place until 31 Oct 2026, so the increases due on 1 Sep 2026 will not go ahead, and extending the reduced NORA levy to the same date. From 1 Nov 2026 excise rates are to be restored in four stages ending on 28 Feb 2027.
What changed (effective 1 Sep 2026)
- Excise reductions on petrol, auto diesel and marked gas oil: to remain fully in place until 31 Oct 2026
- Increase that was due on 1 Sep 2026: will not go ahead; it would have added 10 cent to a litre of diesel and 9 cent to a litre of petrol
- Restoration steps, petrol: 5 cent on 1 Nov 2026, 5 cent on 1 Dec 2026, 7 cent on 31 Jan 2027, 8 cent on 28 Feb 2027
- Restoration steps, diesel: 7 cent on 1 Nov 2026, 7 cent on 1 Dec 2026, 8 cent on 31 Jan 2027, 8 cent on 28 Feb 2027
- Restoration steps, marked gas oil: 2.7 cent on 1 Nov 2026, 2.7 cent on 31 Jan 2027
- NORA levy: reduction extended to 31 Oct 2026; scheduled to revert to 2 cent per litre from 1 Nov 2026
Planned 1 Sep and 1 Oct 2026 Fuel Excise Increases Will Not Go Ahead
The Government stated on 21 Aug 2026 that the Taoiseach, Tánaiste and Minister of State Seán Canney had agreed that the increases planned for 1 Sep and 1 Oct 2026, under the pathway set in June to restore fuel excise and National Oil Reserves Agency (NORA) levy rates to pre-reduction levels, will not go ahead. The Government said it would agree the next steps the following week.
What changed (effective 1 Sep 2026)
- Increase planned for 1 Sep 2026: will not go ahead
- Increase planned for 1 Oct 2026: will not go ahead
State Savings Rates Up to 0.65 Percentage Points Higher from 30 Aug 2026; Prize Bond Fund Rate 1.50%
The NTMA announced on 17 Aug 2026 higher Ireland State Savings rates on new issues of fixed term products from 30 Aug 2026, up to 2.66% AER on the 10-Year National Solidarity Bond, and a rise in the Post Office Savings Bank deposit rate to 1.25% AER; the Prize Bond prize-fund rate rises from 1.00% to 1.50% from 1 Sep 2026.
What changed (effective 30 Aug 2026)
- 3-Year Savings Bond: 1.96% AER (up 0.64 percentage points); total return 6% (from 4%)
- 5-Year Savings Certificate: 2.29% AER (up 0.55 percentage points); total return 12% (from 9%)
- 6-Year Instalment Savings: 2.33% AER (up 0.58 percentage points); total return 13.5% (from 10%)
- 10-Year National Solidarity Bond: 2.66% AER (up 0.65 percentage points); total return 30% (from 22%)
- Post Office Savings Bank deposit rate: 1.25% AER (up 0.5 percentage points) for all holders from 30 Aug 2026
- Prize Bonds: prize-fund rate 1.50% (from 1.00%) from 1 Sep 2026; top weekly prize EUR 100,000 (from EUR 50,000)
Bank of Ireland Reports Half-Year Profit Before Tax of EUR 960 Million, Up 33%
Bank of Ireland Group reported profit before tax of EUR 960 million for the six months to 30 Jun 2026, up 33% year on year, with net interest income of EUR 1.7 billion (up 2%) and a net credit impairment charge of EUR 32 million. Loans were EUR 84.0 billion and customer deposits rose EUR 1.0 billion in the year to date.
Key figures
- Profit before tax, H1 2026: EUR 960 million (up 33% year on year)
- Net interest income: EUR 1.7 billion (up 2% year on year)
- Net credit impairment charge: EUR 32 million
- Loans: EUR 84.0 billion (up EUR 1.5 billion in the year to date)
- Irish lending: up EUR 2.2 billion (7% annualised)
- Customer deposits: up EUR 1.0 billion in the year to date
Company announcement — figures are from Bank of Ireland Group’s own release, not an official government source.
AIB Reports Half-Year Profit After Tax of EUR 939 Million
AIB Group reported profit after tax of EUR 939 million for the half year to June 2026, with net interest income of EUR 1,871 million (H1 2025: EUR 1,874 million) and a net interest margin of 2.68% (H1 2025: 2.78%). Customer deposits rose 1.3% to EUR 118.8 billion from December 2025, and new mortgage lending in Ireland was EUR 2.0 billion (H1 2025: EUR 1.9 billion).
Key figures
- Profit after tax, H1 2026: EUR 939 million
- Net interest income: EUR 1,871 million (H1 2025: EUR 1,874 million)
- Net interest margin: 2.68% (H1 2025: 2.78%)
- Customer deposits: EUR 118.8 billion (Dec 2025: EUR 117.2 billion)
- New mortgage lending in Ireland: EUR 2.0 billion (H1 2025: EUR 1.9 billion)
- Gross loans: EUR 74.5 billion (Dec 2025: EUR 72.3 billion)
Company announcement — figures are from AIB Group (Allied Irish Banks)’s own release, not an official government source.
PTSB Reports Half-Year Underlying Profit Before Tax of EUR 68 Million, Up 34%
PTSB reported underlying profit before tax of EUR 68 million for the half year to June 2026, up 34% on H1 2025, and profit before tax of EUR 57 million after EUR 11 million of exceptional items related to its formal sale process. Total income rose 7% to EUR 344 million, the net interest margin was 2.13% (H1 2025: 2.02%) and customer deposits rose 2% to EUR 25.6 billion.
Key figures
- Underlying profit before tax, H1 2026: EUR 68 million (up 34%)
- Profit before tax: EUR 57 million, after EUR 11 million of exceptional items
- Total income: EUR 344 million (up 7%)
- Net interest margin: 2.13% (H1 2025: 2.02%)
- Customer deposits: EUR 25.6 billion (up 2%)
- New mortgage lending: EUR 1.3 billion, a market share of about 19%
Company announcement — figures are from PTSB (Permanent TSB)’s own release, not an official government source.
Carer's Allowance Weekly Income Disregard Rises to EUR 1,000 Single and EUR 2,000 Couple
The Department of Social Protection introduced increases from Jul 2026 in the weekly income disregard in the Carer's Allowance means test, from EUR 625 to EUR 1,000 for a single carer and from EUR 1,250 to EUR 2,000 for a couple, and in the Carer's Benefit income limit, from EUR 625 to EUR 1,000. Almost 2,700 carers receive a higher Carer's Allowance payment as a result.
What changed (effective Jul 2026)
- Carer's Allowance weekly income disregard, single: EUR 1,000 (from EUR 625)
- Carer's Allowance weekly income disregard, couple: EUR 2,000 (from EUR 1,250)
- Carer's Benefit income limit: EUR 1,000 (from EUR 625)
- Carers getting a higher payment: almost 2,700
- Two-adult household income: full payment kept at about EUR 110,000; partial payment at about EUR 138,000
Fuel Excise and NORA Levy Cuts Extended in Full to 31 Aug 2026, Then to Be Restored Sep to Dec 2026
The Government announced on 30 Jun 2026 that the temporary reductions in fuel excise and the National Oil Reserves Agency (NORA) levy, due to expire on 31 Jul 2026, will be extended in full until 31 Aug 2026. It also set a pathway to restore excise duty and NORA rates to pre-reduction levels in steps on 1 Sep, 1 Oct, 1 Nov and 1 Dec 2026.
What changed (effective Aug 2026)
- Fuel excise and NORA levy reductions: extended in full until 31 Aug 2026 (were due to expire on 31 Jul 2026)
- Planned step, 1 Sep 2026 (excise and NORA levy): petrol up 9 cent, diesel up 10 cent, marked gas oil up 2 cent (NORA levy)
- Planned step, 1 Oct 2026: petrol up 8 cent, diesel up 8 cent, marked gas oil no increase
- Planned step, 1 Nov 2026: petrol up 5 cent, diesel up 7 cent, marked gas oil up 2.7 cent
- Planned step, 1 Dec 2026: petrol up 5 cent, diesel up 7 cent, marked gas oil up 2.7 cent
9% VAT Rate for Food, Catering and Hairdressing Takes Effect 1 Jul 2026, with No Sunset Clause
The Department of Finance said the 9% VAT rate is reintroduced from 1 Jul 2026 for food and catering services and hairdressing, a measure announced in Budget 2026 that cuts the rate from 13.5% and has no sunset clause. It does not apply to hotel accommodation but does apply to food and catering provided by hotels.
What changed (effective 1 Jul 2026)
- Food and catering services, hairdressing: 9% from 1 Jul 2026 (from 13.5%)
- Hotel accommodation: not covered; food and catering provided by hotels is covered
- End date: none; no sunset clause
PRSI to Rise from 1 Oct 2026: Class A Employee Rate 4.35%, Higher Employer Rate 11.40%
The Department of Social Protection's advance notice of PRSI changes said PRSI rates rise from 1 Oct 2026 under the PRSI Roadmap agreed by Government, not as Budget measures: the Class A employee rate goes from 4.2% to 4.35% and the Class A employer rates from 9.00% and 11.25% to 9.15% and 11.40%.
What changed (effective 1 Oct 2026)
- Class A employee rate: 4.35% (from 4.2%)
- Class A employer rates: 9.15%, and 11.40% for employees earning more than EUR 552 a week (from 9.00% and 11.25%)
- Class S self-employed rate: 4.35% (from 4.2%)
- Employee PRSI Credit: no change
- Basis: PRSI Roadmap agreed by Government; not Budget measures
ECB Raises Deposit Facility Rate to 2.25% and Main Refinancing Operations Rate to 2.40%
The European Central Bank (ECB) Governing Council decided on 11 Jun 2026 to raise the three key ECB interest rates by 25 basis points, saying the war in the Middle East is generating inflation pressures. The deposit facility rate rises to 2.25%, the main refinancing operations rate to 2.40% and the marginal lending facility rate to 2.65%, with effect from 17 Jun 2026.
What changed (effective 17 Jun 2026)
- Deposit facility rate: 2.25% (up 25 basis points)
- Main refinancing operations rate: 2.40% (up 25 basis points)
- Marginal lending facility rate: 2.65% (up 25 basis points)
Bank of Ireland Raises 12-Month Fixed-Term Deposit Rate to 2.15% AER
Bank of Ireland is raising the interest rate on its 12-month Advantage fixed-term deposit account by 0.40 percentage points to 2.15% AER (a 2.14% fixed-term return), from 16 Apr 2026. Existing fixed-term deposit holders keep their original rate until the end of their term, and the SuperSaver regular savings account continues at 3.00% AER for the first 12 months.
What changed (effective 16 Apr 2026)
- 12-month Advantage fixed-term deposit: 2.15% AER (from 1.75%); fixed-term return 2.14% (from 1.74%)
- Existing fixed-term deposits: keep their original rate until the end of the term
- SuperSaver regular savings: unchanged at 3.00% AER fixed for the first 12 months; then the regular saver rate, currently 2.00%, on balances under EUR 30,000
Company announcement — figures are from Bank of Ireland Group’s own release, not an official government source.
1 May 2026 Carbon Tax Rise on Green Diesel and Non-Propellant Fuels Deferred Until the Budget
The Government announced on 12 Apr 2026, in a new package of fuel supports, that it will defer the planned increase in carbon tax scheduled for 1 May 2026 until the Budget. The deferral affects green diesel and non-propellant fuels such as kerosene heating oil, natural gas and solid fuels.
What changed (effective 1 May 2026)
- Carbon tax increase scheduled for 1 May 2026: to be deferred until the Budget
- Fuels affected: green diesel and non-propellant fuels such as kerosene heating oil, natural gas and solid fuels
Further 10 Cent Fuel Excise Cut from 14 Apr 2026: Total Cut 27 Cent on Petrol, 32 Cent on Diesel
The Government announced on 12 Apr 2026 that it will reduce excise on petrol and on diesel by a further 10 cent (VAT inclusive), bringing the total reduction to 27 cent on petrol and 32 cent on diesel, including the NORA levy reduction already announced. The reductions take effect from midnight, Tuesday 14 Apr 2026 and, with the NORA levy reduction, run until 31 Jul 2026.
What changed (effective 14 Apr 2026)
- Excise on petrol: further 10 cent cut (VAT inclusive); total reduction 27 cent
- Excise on diesel: further 10 cent cut (VAT inclusive); total reduction 32 cent
- Excise on marked gas oil (green diesel): further 2.4 cent cut (VAT inclusive); total reduction 7.4 cent
- NORA levy reduction: included in the totals; also runs until 31 Jul 2026
- Excise reductions for consumers: from midnight, Tuesday 14 Apr 2026 until 31 Jul 2026
Central Bank to Exempt Principal Home Bridging Loans from the Loan-to-Income Limit
The Central Bank of Ireland announced on 8 Apr 2026 a targeted amendment to the mortgage measures that will exempt certain principal home bridging loans, short-term loans of up to 18 months that let homeowners buy a new home before selling their current one, from the loan-to-income (LTI) limit; the loan-to-value (LTV) limit will continue to apply.
What changed
- Loan-to-income limit: certain principal home bridging loans to be exempt
- Loan-to-value limit: will continue to apply to these loans
- Principal home bridging loan: maximum term of 18 months, repaid from the proceeds of selling the original property
- LTI limits (unchanged): 4 times gross annual income for first-time buyers; 3.5 times for second and subsequent buyers
- LTV limits (unchanged): 90% for principal home mortgages; 70% for buy-to-let
Consumer Protection Code in Force: Mortgage Switching Prompts, Title Deeds Within 10 Working Days
The Central Bank of Ireland marked the coming into force of the modernised Consumer Protection Code on 24 Mar 2026: mortgage lenders must show customers how much they could save by switching to a cheaper mortgage, send reminders about cheaper options and provide title deeds within 10 working days of a request.
What changed (effective 24 Mar 2026)
- Mortgage switching: lenders must show potential savings from switching to a cheaper mortgage and send reminders about cheaper options
- Title deeds: provided within 10 working days of the request
- Insurance renewals: gadget, dental, pet and travel policies no longer renew automatically without explicit agreement
- Buying on credit online: firms must allow enough time to think about whether that type of credit is right for the customer
- Trusted Contact Person: customers can nominate one for the firm to contact if needed
- Mortgage arrears: Code of Conduct on Mortgage Arrears consolidated into the Code
Temporary Fuel Excise Cuts to 31 May 2026: 15 Cent per Litre on Petrol, 20 Cent on Diesel
The Government announced on 24 Mar 2026 temporary cuts in Mineral Oil Tax, VAT inclusive, of 15 cent per litre on petrol, 20 cent on auto diesel and 3 cent on marked gas oil, from midnight on 24 Mar 2026 until 31 May 2026, and a cut in the NORA levy from 2 cent per litre to a nominal amount for two months. The Fuel Allowance season is to be extended by four weeks, at EUR 38 a week.
What changed (effective 24 Mar 2026)
- Mineral Oil Tax on petrol: cut by 15 cent per litre, VAT inclusive, until 31 May 2026
- Mineral Oil Tax on auto diesel: cut by 20 cent per litre, VAT inclusive, until 31 May 2026
- Mineral Oil Tax on marked gas oil (MGO): cut by 3 cent per litre, VAT inclusive, until 31 May 2026
- NORA levy: cut from 2 cent per litre to a nominal amount for two months
- Excise and NORA levy cuts combined: 22 cent off a litre of diesel and 17 cent off a litre of petrol
- Fuel Allowance season: extended by four weeks to 1 May 2026: EUR 38 a week, EUR 152 in total, for around 470,000 households
AIB Reports 2025 Profit After Tax of EUR 2.1 Billion as Net Interest Income Falls 9%
AIB Group reported profit after tax of EUR 2,139 million for 2025 and net interest income of EUR 3,748 million, down 9% from EUR 4,129 million, which it attributed primarily to lower interest rates. The net interest margin was 2.73% (2024: 3.16%), customer deposits rose 7% to EUR 117.2 billion and gross loans reached EUR 72.3 billion.
Key figures
- Profit after tax, 2025: EUR 2,139 million
- Net interest income: EUR 3,748 million (2024: EUR 4,129 million, down 9%)
- Net interest margin: 2.73% (2024: 3.16%)
- Customer deposits: EUR 117.2 billion (up 7%)
- Gross loans: EUR 72.3 billion (Dec 2024: EUR 71.2 billion)
- New lending: EUR 14.7 billion (up 2%)
Company announcement — figures are from AIB Group (Allied Irish Banks)’s own release, not an official government source.
Fuel Allowance Extended to 50,000 Working Family Payment Households, Backdated to Jan 2026
The Minister for Social Protection, Dara Calleary, announced on 4 Mar 2026 that Working Family Payment recipients are now eligible for the Fuel Allowance, as provided for in Budget 2026, adding 50,000 households. The measure is backdated to January 2026, with backdated payments of up to EUR 380 due on 12 Mar 2026 together with the weekly Working Family Payment.
What changed (effective 12 Mar 2026)
- Fuel Allowance eligibility: extended to Working Family Payment recipients: 50,000 additional households
- Backdated payment: up to EUR 380, to be paid on 12 Mar 2026 with the weekly Working Family Payment
- Arrears for former recipients: families on the Working Family Payment between 1 Jan and 11 Mar 2026 who no longer receive it still get arrears if eligible
- Fuel Allowance rate: EUR 38 a week for 28 weeks from late September to April (up EUR 5 a week from Jan 2026)
- Households receiving the Fuel Allowance: over 470,000
Bank of Ireland Reports 2025 Profit Before Tax of EUR 1.4 Billion
Bank of Ireland Group reported net interest income of EUR 3.37 billion for 2025 and profit before tax of EUR 1.4 billion, after non-core items of EUR 430 million, mainly EUR 268 million of customer redress charges related to UK motor finance and EUR 153 million of restructuring costs. Customer deposits were EUR 107.5 billion, EUR 4.4 billion more than a year earlier.
Key figures
- Profit before tax, 2025: EUR 1.4 billion
- Net interest income: EUR 3.37 billion
- Non-core items: EUR 430 million, mainly EUR 268 million of UK motor finance customer redress charges and EUR 153 million of restructuring costs
- Net credit impairment charge: EUR 193 million
- Customer deposits: EUR 107.5 billion (EUR 4.4 billion higher than a year earlier)
- Loans: EUR 82.5 billion at end 2025, flat on the prior year
Company announcement — figures are from Bank of Ireland Group’s own release, not an official government source.
New Rental Law Signed: Rent and No-Fault Eviction Rules for Tenancies Created from 1 Mar 2026
The Minister for Housing welcomed on 24 Feb 2026 the enactment of the Residential Tenancies (Miscellaneous Provisions) Bill 2026, signed into law by the President that day; its provisions, which the Minister said bring a national system of rent control and significant restrictions on no-fault evictions, apply to new tenancies created on or after 1 Mar 2026, while tenancies in operation see no change.
What changed (effective 1 Mar 2026)
- Legislation: Residential Tenancies (Miscellaneous Provisions) Bill 2026, signed into law on 24 Feb 2026
- Applies to: new tenancies created on or after 1 Mar 2026
- Tenancies already in operation: no change
- Rent control: a national system across every town and county, as described by the Minister
- No-fault evictions: significantly restricted
Local Authority Home Loan Price Limits Up to EUR 415,000 and Single Income Limit EUR 80,000
The Minister for Housing announced on 19 Feb 2026 higher maximum property prices and a higher single-applicant income limit for the Local Authority Home Loan and the Local Authority Purchase and Renovation Loan, coming into effect in Q2 2026: price limits rise to between EUR 310,000 and EUR 415,000 by area, and the single income limit from EUR 70,000 to EUR 80,000.
What changed (effective 2026)
- Price limit: four Dublin councils, Kildare, Wicklow: EUR 415,000 (from EUR 360,000)
- Price limit: Galway City, Cork City, Meath, Cork County: EUR 375,000 (from EUR 330,000)
- Price limits, other council areas: EUR 345,000 (from EUR 300,000 or EUR 330,000) and EUR 310,000 (from EUR 275,000)
- Income limit, single applicants: EUR 80,000 (from EUR 70,000)
- Income limit, joint applicants: unchanged at EUR 85,000
- Start: Q2 2026
SEAI Heat Pump System Grant up to EUR 12,500 from 3 Feb 2026; Window and Door Grants from 2 Mar 2026
The Minister for Climate, Energy and the Environment, Darragh O'Brien, announced on 27 Jan 2026 new and enhanced SEAI home energy grants under the National Residential Retrofit Plan. From 3 Feb 2026 a heat pump system grant of up to EUR 12,500 and higher attic and cavity wall insulation grants are to apply; from 2 Mar 2026 new window and door grants and a second wall insulation grant are to open.
What changed (effective 3 Feb 2026)
- Heat pump system grant (from 3 Feb 2026): up to EUR 12,500: EUR 6,500 for the heat pump, EUR 2,000 for radiators and pipework, a new EUR 4,000 renewable heating bonus
- Heat pump applications already with SEAI: new EUR 12,500 maximum applies if not yet processed for payment
- Cavity wall and attic insulation (from 3 Feb 2026): higher fixed grants (new amounts not given in the release)
- Windows and doors (from 2 Mar 2026): new grant for homes that meet a specified minimum building fabric standard
- Second wall insulation measure (from 2 Mar 2026): grant for homeowners who previously had a cavity or internal wall insulation grant
- Welfare recipients and First Time Buyers (from 2 Mar 2026): higher fixed attic and cavity grants on qualifying welfare payments; attic insulation grant for First Time Buyers of existing homes
Budget 2026 Tax Changes in Effect: USC 2% Band to EUR 28,700; Rent Tax Credit Extended to 2028
The Department of Finance said Budget 2026 tax changes take effect from 1 Jan 2026: the ceiling of the 2% USC rate band rises by EUR 1,318 to EUR 28,700, and the Rent Tax Credit, worth EUR 1,000 for a single person, is extended to the tax years 2026, 2027 and 2028. Mortgage Interest Tax Relief is extended on a tapered basis, up to EUR 1,250 per property for 2025 interest and EUR 625 for 2026 interest.
What changed (effective 1 Jan 2026)
- USC 2% rate band ceiling: EUR 28,700 (up EUR 1,318)
- Reduced USC, full medical card, EUR 60,000 income limit: extended for two years, to the end of 2027
- Rent Tax Credit: extended to 2026, 2027 and 2028: EUR 1,000 single, EUR 2,000 jointly assessed couple
- Mortgage Interest Tax Relief, 2025 interest over 2022: up to EUR 1,250 per property, claimable from early 2026
- Mortgage Interest Tax Relief, 2026 interest over 2022: up to EUR 625 per property, claimable from 2027
- National Minimum Wage: EUR 14.15 an hour from 1 Jan 2026 (up EUR 0.65)
EUR 10 Weekly Social Welfare Increase and Higher Child Support Payment Take Effect 1 Jan 2026
The Department of Social Protection said Budget 2026 increases costing some EUR 1,093 million take effect from 1 Jan 2026: a EUR 10 rise in the maximum rate of all core weekly payments for over 1.5 million people, a Child Support Payment of EUR 78 a week for children aged 12 and over and EUR 58 for under 12s, and a Fuel Allowance of EUR 38 a week.
What changed (effective 1 Jan 2026)
- Core weekly payments (maximum rate): up EUR 10, with proportionate increases for qualified adults and reduced rates
- Child Support Payment, aged 12 and over: EUR 78 a week (from EUR 62)
- Child Support Payment, under 12: EUR 58 a week (from EUR 50)
- Fuel Allowance: EUR 38 a week (from EUR 33)
- Working Family Payment income thresholds: up EUR 60 a week for all family sizes
- Domiciliary Care Allowance: EUR 380 a month (up EUR 20)
MyFutureFund Launches: Auto-Enrolment Contributions of 1.5% Collected from 1 Jan 2026
The Department of Social Protection said MyFutureFund, the auto-enrolment retirement savings scheme, launched on 1 Jan 2026, with the National Automatic Enrolment Retirement Savings Authority (NAERSA) collecting contributions for over 760,000 employees from that day: employees and employers each pay 1.5% of gross pay in 2026–28, and the State tops this up by EUR 1 for every EUR 3 the employee contributes.
What changed (effective 1 Jan 2026)
- Contributions 2026–28: employee 1.5%, employer 1.5%, State 0.5%, calculated on gross pay and taken from net pay
- Later rates (employee, employer, State): 3%, 3% and 1% in 2029–31; 4.5%, 4.5% and 1.5% in 2032–34; 6%, 6% and 2% from 2035
- Employees covered at launch: over 760,000
- Participant portal: open; log in with a verified MyGovID to see contributions and manage participation
- Voluntary opt-in: for people not enrolled automatically, such as those under 23 or over 60
- Example in the release (minimum wage, 40 hours): EUR 8.49 a week from the employee becomes EUR 19.26 in the account before investment
MyFutureFund Exemption: DC Pension Schemes Need at Least 3.5% Total Contributions from 1 Jan 2026
The Minister for Social Protection signed regulations setting the minimum contributions an occupational pension scheme must meet for an employment to be exempt from MyFutureFund enrolment, to coincide with the employee portal opening on 1 Jan 2026. Defined contribution schemes need at least 3.5% of gross pay in total, at least 1.5% from the employer, with the employer requirement subject to a maximum of EUR 1,200.
What changed (effective 1 Jan 2026)
- Minimum total contribution (DC schemes): At least 3.5% of the employee's gross pay
- Minimum employer contribution (DC schemes): At least 1.5% of gross pay; the employer requirement is subject to a maximum of EUR 1,200
- Defined benefit schemes: Employments exempted from enrolment where the scheme confers a long-term benefit based on continuing employment
- Compliance assessment: Contribution levels assessed over a three-month period
- MyFutureFund administration fee: 55 cent per week, applied only to active contributions
- MyFutureFund investment management fees: Average just under 0.04% of assets under management
Christmas Bonus Worth EUR 370 Million Paid to About 1.5 Million People from 1 Dec 2025
The Department of Social Protection said Christmas Bonus payments totalling EUR 370 million are issued from 1 Dec 2025 to approximately 1.5 million long-term social welfare recipients, including pensioners, carers, people with disabilities and lone parents, each on the day they usually receive their primary payment.
What changed (effective 1 Dec 2025)
- Recipients: approximately 1.5 million (county estimates total 1,471,000)
- Total paid: EUR 370 million, issued from 1 Dec 2025
- When paid: on the same day as the recipient's usual primary payment
- Who qualifies: long-term social welfare recipients such as pensioners, carers, people with disabilities, lone parents and long-term unemployed people
Finance Bill 2025 Provides for BIK Category A1 for Zero Emission Cars at 6% to 15% from 1 Jan 2026
The Department of Finance said Finance Bill 2025 provides for a new benefit-in-kind (BIK) vehicle category A1 for zero emission cars from 1 Jan 2026, with BIK rates of 6% to 15% depending on business mileage, and for the temporary EUR 10,000 reduction to the Original Market Value (OMV) of cars in categories A-D and vans to be extended on a tapered basis to 31 Dec 2028.
What changed (effective 1 Jan 2026)
- BIK vehicle category A1 (zero emission cars): New category from 1 Jan 2026, with BIK rates of 6% to 15% depending on business mileage
- Temporary OMV relief (cars in categories A-D and vans): EUR 10,000 for 2026, EUR 5,000 for 2027 and EUR 2,500 for 2028, ending 31 Dec 2028
- Highest mileage band lower limit: 48,001 km from 1 Jan 2026 (from 52,001 km), a permanent reduction
NAERSA Established to Run MyFutureFund Auto-Enrolment, Which Goes Live on 1 Jan 2026
The Minister for Social Protection, Dara Calleary, signed a commencement order establishing the National Automatic Enrolment Retirement Savings Authority (NAERSA) from 14 Oct 2025. NAERSA will enrol eligible employees in MyFutureFund and collect and invest employee, employer and State contributions; the scheme goes live on 1 Jan 2026 for around 750,000 workers.
What changed (effective 14 Oct 2025)
- NAERSA: established by commencement order with effect from 14 Oct 2025
- MyFutureFund start: 1 Jan 2026
- Who is enrolled automatically: employees aged 23 to 60 earning over EUR 20,000 across all employments and not already in an occupational pension scheme
- Contributions: employee and employer 1.5% each at the start, increasing every three years by 1.5% to 6%
- Employer match and State top-up: employers match employee contributions and the State adds EUR 1 for every EUR 3 saved by the employee, both on up to EUR 80,000 of earnings
- Employers: asked to complete a profile on the employer portal and set up a payment method for contributions
National Minimum Wage to Rise by EUR 0.65 an Hour (4.8%) from 1 Jan 2026
The Department of Enterprise, Tourism and Employment confirmed on 8 Oct 2025, in its Budget 2026 release, an increase of EUR 0.65 an hour in the National Minimum Wage from 1 Jan 2026, implementing the unanimous recommendation of the Low Pay Commission; the 4.8% rise will directly affect over 201,000 workers.
What changed (effective 1 Jan 2026)
- National Minimum Wage increase: EUR 0.65 an hour (4.8%) from 1 Jan 2026
- Workers directly affected: over 201,000 earning the National Minimum Wage
- Basis: unanimous recommendation of the Low Pay Commission
- Announced in: Budget 2026
Budget 2026: Carbon Tax on Propellant Fuels Up from EUR 63.50 to EUR 71 a Tonne from 8 Oct 2025
In Budget 2026 the Department of Finance announced that the carbon tax on all propellant fuels rises from EUR 63.50 to EUR 71 per tonne of carbon dioxide from 8 Oct 2025, on the trajectory set out in Finance Act 2020, with the increase to apply to all other fuels from 1 May 2026.
What changed (effective 8 Oct 2025)
- Carbon tax, propellant fuels: EUR 71 per tonne of carbon dioxide from 8 Oct 2025 (from EUR 63.50)
- Carbon tax, all other fuels (announced): EUR 71 per tonne from 1 May 2026
Budget 2026: Exit Tax on Irish Funds, ETFs and Life Assurance Policies to Be Cut from 41% to 38%
In Budget 2026 the Department of Finance announced that Finance Bill 2025 will reduce Investment Undertaking Tax on Irish domiciled funds and Life Assurance Exit Tax from 41% to 38%, with the same cut for equivalent offshore funds, including ETFs taxed under that regime, and for certain foreign life assurance policies. The Tax Policy Changes book gives no start date.
What changed
- Investment Undertaking Tax, Irish domiciled funds: 38% (from 41%)
- Life Assurance Exit Tax, policies since 2001: 38% (from 41%)
- Equivalent EU, EEA and OECD offshore funds: 38% (from 41%); applies to ETFs taxed under this regime, including Irish domiciled ETFs
- Certain foreign life assurance policies: 38% (from 41%)
- Legislation: to be provided in Finance Bill 2025; start date not stated
Budget 2026: USC 2% Band to EUR 28,700; Rent Tax Credit to 2028; Mortgage Interest Relief Tapered
In Budget 2026 the Department of Finance announced a EUR 1,318 increase in the ceiling of the 2% USC rate band, from EUR 27,382 to EUR 28,700, and a three-year extension of the Rent Tax Credit to 31 Dec 2028. Mortgage Interest Tax Relief is to be extended on a tapered basis: up to EUR 1,250 per property for 2025 interest over 2022 and up to EUR 625 for 2026 interest over 2022.
What changed (effective 2026)
- USC 2% rate band ceiling: EUR 28,700 (from EUR 27,382)
- Reduced USC, full medical card, income EUR 60,000 or less: concession extended two years to 31 Dec 2027
- Rent Tax Credit: extended to 31 Dec 2028; up to EUR 1,000 single, EUR 2,000 jointly assessed couple
- Mortgage Interest Tax Relief, 2025 interest over 2022: up to EUR 1,250 per property, claimable from 2026
- Mortgage Interest Tax Relief, 2026 interest over 2022: up to EUR 625 per property, claimable from 2027
Budget 2026: 9% VAT on Food, Catering and Hairdressing from 1 Jul 2026; 9% on Energy Bills to 2030
In Budget 2026 the Department of Finance announced a cut in the VAT rate on food and catering and hairdressing services from 13.5% to 9% from 1 Jul 2026, and a Budget-night financial resolution to extend the 9% VAT rate on gas and electricity bills, due to expire on 1 Nov 2025, until 31 Dec 2030. VAT on the sale of new apartments is to fall from 13.5% to 9% from 8 Oct 2025 to 31 Dec 2030.
What changed
- Food and catering, hairdressing services: 9% from 1 Jul 2026 (from 13.5%)
- Gas and electricity bills: 9% rate extended to 31 Dec 2030 (was due to expire on 1 Nov 2025)
- New apartments: 9% from 8 Oct 2025 to 31 Dec 2030 (from 13.5%)
Budget 2026: EUR 10 Weekly Social Welfare Increase from Jan 2026; Fuel Allowance Up EUR 5 to EUR 38
The Department of Social Protection announced a Budget 2026 package of over EUR 1.15 billion on 7 Oct 2025: most maximum weekly personal payment rates, including pensioners' payments, to rise by EUR 10 from Jan 2026, the Fuel Allowance to rise from EUR 33 to EUR 38 a week, and the Carer's Allowance weekly income disregard to rise to EUR 1,000 for a single person and EUR 2,000 for a couple from Jul 2026.
What changed (effective Jan 2026)
- Weekly social welfare payments: up EUR 10 (4.1% on most payments) from Jan 2026, with proportionate increases for qualified adults and reduced rates
- Child Support Payment (weekly): EUR 78 for children aged 12 and over (up EUR 16) and EUR 58 for under 12s (up EUR 8) from Jan 2026
- Fuel Allowance: EUR 38 a week from Jan 2026 (from EUR 33); Working Family Payment families qualify from Mar 2026, backdated to Jan 2026
- Carer's Allowance income disregard: EUR 1,000 single (up EUR 375) and EUR 2,000 couple (up EUR 750) from Jul 2026
- Christmas Bonus: 100%, paid in Dec 2025 to almost 1.5 million long-term social welfare recipients
- MyFutureFund: commences on 1 Jan 2026; State contribution of EUR 154 million in 2026
PTSB Raises 3- and 5-Year Deposit Rates to 2.00% and Cuts 6-Month and 1-Year from 1 Oct 2025
PTSB announced deposit rate changes on its 6-month, 1-year, 3-year and 5-year fixed-term deposit products, including the 6-month and 1-year online products, from 1 Oct 2025. The 5-year rate rises by 0.50 percentage points and the 3-year by 0.40 percentage points, both to 2.00% AER, while the 1-year and 6-month rates fall by 0.25 percentage points to 2.00% and 1.25%.
What changed (effective 1 Oct 2025)
- 5-year fixed-term deposit: 2.00% AER (up 0.50 percentage points)
- 3-year fixed-term deposit: 2.00% AER (up 0.40 percentage points)
- 1-year fixed-term deposit: 2.00% AER (down 0.25 percentage points)
- 6-month fixed-term deposit: 1.25% AER (down 0.25 percentage points)
- Recent new fixed-term deposits: a cooling-off period of up to 14 days allows a switch to the new higher rates
Company announcement — figures are from PTSB (Permanent TSB)’s own release, not an official government source.
PRSI to Rise from 1 Oct 2025: Class A Employee Rate 4.2%, Higher Employer Rate 11.25%
The Department of Social Protection's advance notice of PRSI changes said PRSI rates rise from 1 Oct 2025 under the PRSI Roadmap agreed by Government, not as Budget measures: the Class A employee rate goes from 4.1% to 4.2% and the Class A employer rates from 8.9% and 11.15% to 9% and 11.25%.
What changed (effective 1 Oct 2025)
- Class A employee rate: 4.2% (from 4.1%)
- Class A employer rates: 9%, and 11.25% for employees earning more than EUR 527 a week (from 8.9% and 11.15%)
- Class S self-employed rate: 4.2% (from 4.1%)
- Employee PRSI Credit: no change
- Basis: PRSI Roadmap agreed by Government; not Budget measures
Rent Pressure Zone Caps Apply Nationwide from 20 Jun 2025: Rises Capped at Lower of 2% or Inflation
The Department of Housing said that from 20 Jun 2025, after the enactment of the Residential Tenancies (Amendment) Bill 2025, rent increase restrictions apply to all tenancies nationally, adding the 40,963 tenancies (17%) previously outside Rent Pressure Zones; increases are capped at 2% or inflation, whichever is lower.
What changed (effective 20 Jun 2025)
- Rent increase cap: 2% or inflation, whichever is lower, for all tenancies nationally
- Tenancies newly covered: 40,963 (17%) previously outside Rent Pressure Zones
- Legislation: Residential Tenancies (Amendment) Bill 2025, enacted
- Nationwide RPZ status: until 28 Feb 2026; existing RPZs extended by two months to the same date
- Next step: wider changes to the rental system from March 2026
Government Approves Nationwide Rent Control; Six-Year Tenancies Planned from 1 Mar 2026
The Government approved on 10 Jun 2025 the extension of Rent Pressure Zones to a nationwide rent control system, with legislation to follow, and proposed new tenancy protections from 1 Mar 2026, including rolling six-year minimum tenancies for smaller landlords; rent increases are to be capped by inflation, at most 2% for most tenancies when inflation is high.
What changed (effective 1 Mar 2026)
- Rent control: to be nationwide, with increases capped by inflation (CPI); at most 2% for most tenancies in times of high inflation
- Smaller landlords (three or fewer tenancies): rolling six-year minimum tenancies planned, with restricted grounds for ending a tenancy
- Larger landlords (four or more tenancies): no-fault evictions to end for tenants who comply with their obligations, except in very limited circumstances
- Rent reset: allowed where rent is below market at the end of each six-year tenancy, for tenancies from 1 Mar 2026, unless a no-fault eviction occurs
- Status: approved by Cabinet; legislation to be brought forward
ECB Cuts Deposit Facility Rate to 2.00% and Main Refinancing Operations Rate to 2.15%
The European Central Bank (ECB) Governing Council decided on 5 Jun 2025 to lower the three key ECB interest rates by 25 basis points, saying inflation is currently at around its 2% medium-term target. The deposit facility rate falls to 2.00%, the main refinancing operations rate to 2.15% and the marginal lending facility rate to 2.40%, with effect from 11 Jun 2025.
What changed (effective 11 Jun 2025)
- Deposit facility rate: 2.00% (down 25 basis points)
- Main refinancing operations rate: 2.15% (down 25 basis points)
- Marginal lending facility rate: 2.40% (down 25 basis points)
Bank of Ireland Cuts 12-Month Fixed-Term Deposit Rate to 1.75% AER and 18-Month to 2.24%
Bank of Ireland is reducing the interest rate on its Advantage 12-month and 18-month fixed-term deposits by 0.25 percentage points from 5 Jun 2025, to 1.75% AER and 2.24% AER. Other savings accounts are unchanged, including SuperSaver at 3.00% AER for 12 months; Bank of Ireland said it has cut these two rates by a total of 0.75 percentage points while the ECB lowered rates by a cumulative 1.75 percentage points.
What changed (effective 5 Jun 2025)
- Advantage 12-Month Fixed Term: 1.75% AER (from 2.00%); fixed-term return 1.74% (from 1.99%)
- Advantage 18-Month Fixed Term: 2.24% AER (from 2.48%); fixed-term return 3.36% (from 3.73%)
- Other savings accounts: unchanged, including SuperSaver at 3.00% AER for 12 months
- Existing fixed-term deposits: keep their original rate until the end of the term
Company announcement — figures are from Bank of Ireland Group’s own release, not an official government source.
Employer PRSA Contributions Above 100% of the Employee's Emoluments Are a BIK from 1 Jan 2025
Revenue's Pensions Manual sets out that Finance Act 2024 introduced an employer limit on employer contributions to an employee's Personal Retirement Savings Account (PRSA) from 1 Jan 2025: contributions above 100% of the employee's emoluments in the year of assessment are a benefit in kind (BIK) for the employee, and the employer can deduct contributions only up to that limit.
What changed (effective 1 Jan 2025)
- Employer limit on BIK-free PRSA contributions: 100% of the employee's emoluments in the year of assessment
- Employer contributions above the limit: A BIK for the employee, liable to income tax, USC and PRSI on the excess
- Employer tax deduction: Only up to the employer limit; the excess is not deductible
- Emoluments lower than the previous year (unpaid leave): The limit is based on the previous year's emoluments
- Position from 1 Jan 2023 to 31 Dec 2024: No BIK charge on employer PRSA contributions (Finance Act 2022)
First Home Scheme Extended to June 2027 with a Further EUR 30 Million in Funding
The Minister for Housing announced on 13 May 2025 that the Government has extended the First Home Scheme, a shared equity scheme that helps eligible buyers bridge the gap to the price of a new home, to June 2027 and committed a further EUR 30 million, bringing the total State commitment to EUR 370 million, matched 50:50 by the participating banks.
What changed
- Scheme runs until: at least June 2027
- Additional State funding: EUR 30 million
- Total State commitment: EUR 370 million
- Total commitment incl. participating banks (50:50): EUR 740 million
My Future Fund Auto-Enrolment Contributions to Start 1 Jan 2026 Instead of 30 Sep 2025
The Minister for Social Protection, Dara Calleary, announced that the collection of contributions for My Future Fund, the automatic enrolment retirement savings system, begins from 1 Jan 2026 instead of the planned 30 Sep 2025, aligning it with the standard tax year and giving employers and payroll providers an additional three months.
What changed (effective 1 Jan 2026)
- Contribution collection and enrolment start: 1 Jan 2026 (previously planned for 30 Sep 2025)
- Who is enrolled automatically: employees aged 23 to 60 earning over EUR 20,000 across all employments and not already in an occupational pension scheme
- Employee and employer contributions: 1.5% each at the start, increasing every three years by 1.5% to 6%
- State top-up: EUR 1 for every EUR 3 saved by the employee
- Opting out: possible after six months of participation
ECB Cuts Deposit Facility Rate to 2.25% and Main Refinancing Operations Rate to 2.40%
The European Central Bank (ECB) Governing Council decided on 17 Apr 2025 to lower the three key ECB interest rates by 25 basis points, saying the outlook for growth has deteriorated owing to rising trade tensions. The deposit facility rate falls to 2.25%, the main refinancing operations rate to 2.40% and the marginal lending facility rate to 2.65%, with effect from 23 Apr 2025.
What changed (effective 23 Apr 2025)
- Deposit facility rate: 2.25% (down 25 basis points)
- Main refinancing operations rate: 2.40% (down 25 basis points)
- Marginal lending facility rate: 2.65% (down 25 basis points)
Statutory Sick Leave to Stay at 5 Days a Year, Paid at 70% of Gross Earnings up to EUR 110 a Day
The Minister for Enterprise, Tourism and Employment confirmed on 8 Apr 2025 that the entitlement to paid statutory sick leave will remain at five days per calendar year, paid at 70% of gross earnings up to a daily cap of EUR 110; once it is used, eligible employees move on to Illness Benefit from the Department of Social Protection.
What changed
- Statutory sick leave entitlement: unchanged at 5 days per calendar year (3 days in 2023, 5 days from 1 Jan 2024)
- Sick leave pay: 70% of gross earnings, up to a daily cap of EUR 110
- After the entitlement is used: Illness Benefit from the Department of Social Protection, if eligible
Proposed LPT Changes: Bands 20% Wider, Base Rate 0.0906% from 2026; Most Charges to Rise 5% to 6%
The Department of Finance published the Government-approved Heads of the Finance (Local Property Tax) (Amendment) Bill 2025: Local Property Tax (LPT) is to be revalued as at 1 Nov 2025 for 2026 to 2030, with bands widened by 20% and the basic rate cut from 0.1029% to 0.0906%, so base charges are to rise by 5% to 6% for an estimated 96% of properties, subject to legislation.
What changed (effective 2026)
- Valuation date: 1 Nov 2025, for a five-year valuation period from 2026 to 2030
- Band 1: Up to EUR 240,000, LPT charge EUR 95 (from up to EUR 200,000, EUR 90)
- Band 2: EUR 240,001 to EUR 315,000, LPT charge EUR 235 (from EUR 200,001 to EUR 262,500, EUR 225)
- Basic LPT rate: 0.0906% on values up to EUR 1.26 million (from 0.1029%)
- Properties over EUR 2.1 million: Charged on actual value: 0.0906% of the first EUR 1.26 million, 0.25% between EUR 1.26 million and EUR 2.1 million and 0.3% on the balance
- Local Adjustment Factor: Local authorities to be able to vary LPT upwards by up to 25% from 2026; downward limit to remain at 15%
PTSB Cuts Fixed-Term and Variable Deposit Rates by 0.5 Percentage Points from 2 Apr 2025
PTSB is reducing interest rates by 0.5 percentage points on new personal and business fixed-term and variable deposit products from 2 Apr 2025, with two Demand accounts following on 4 Jun 2025, its first deposit-rate change since May 2024. PTSB said the ECB had cut its deposit rate 6 times by a total of 1.5 percentage points since then; existing fixed-term deposits keep their rate until the term ends.
What changed (effective 2 Apr 2025)
- 6-month to 5-year fixed-term deposits: 1.5% to 2.25% AER (from 2% to 2.75%)
- 21-Day Regular Saver: 2% (from 2.5%)
- 40-Day Notice: 0.5% (from 1%)
- Regular Saver (Demand), from 4 Jun 2025: 2% (from 2.5%)
- Existing fixed-term deposits: keep their fixed rate until the current term ends
Company announcement — figures are from PTSB (Permanent TSB)’s own release, not an official government source.
Central Bank Publishes Modernised Consumer Protection Code, Applying from March 2026
The Central Bank of Ireland published the modernised Consumer Protection Code on 24 Mar 2025; firms have a year to put it in place, so its provisions will apply for the public from March 2026, including new disclosure requirements on mortgage switching options and the cost of incentives, and rules on digital services, frauds and scams and vulnerable customers.
What changed (effective Mar 2026)
- Applies for the public from: March 2026 (firms have a year to implement it)
- Mortgage switching: new disclosure requirements on switching options and on the cost of incentives on the overall cost of credit of a mortgage
- Frauds and scams: firms must be vigilant to evolving risks and act to protect customers
- Vulnerable customers: updated definition recognising customers can move in and out of vulnerable circumstances
- Digital services: firms must be customer-focused in their design and implementation
ECB Cuts Deposit Facility Rate to 2.50% and Main Refinancing Operations Rate to 2.65%
The European Central Bank (ECB) Governing Council decided on 6 Mar 2025 to lower the three key ECB interest rates by 25 basis points, saying the disinflation process is well on track. The deposit facility rate falls to 2.50%, the main refinancing operations rate to 2.65% and the marginal lending facility rate to 2.90%, with effect from 12 Mar 2025.
What changed (effective 12 Mar 2025)
- Deposit facility rate: 2.50% (down 25 basis points)
- Main refinancing operations rate: 2.65% (down 25 basis points)
- Marginal lending facility rate: 2.90% (down 25 basis points)
Bank of Ireland Cuts 12-Month Fixed-Term Deposit Rate to 2.00% AER and 18-Month to 2.48%
Bank of Ireland is reducing the interest rate on its Advantage 12-month and 18-month fixed-term deposits by 0.25 percentage points from 18 Feb 2025, to 2.00% AER and 2.48% AER. Customers already opening one of these accounts can keep the existing rates if they open it by close of business on 17 Feb 2025; SuperSaver (3.00% AER for 12 months) and other savings products are unchanged.
What changed (effective 18 Feb 2025)
- Advantage 12-Month Fixed Term: 2.00% AER (from 2.25%); fixed-term return 1.99% (from 2.24%)
- Advantage 18-Month Fixed Term: 2.48% AER (from 2.73%); fixed-term return 3.73% (from 4.11%)
- Accounts already being opened: existing rates if opened by close of business on 17 Feb 2025
- SuperSaver and other savings products: unchanged (SuperSaver 3.00% AER for 12 months)
Company announcement — figures are from Bank of Ireland Group’s own release, not an official government source.
ECB Cuts Deposit Facility Rate to 2.75% and Main Refinancing Operations Rate to 2.90%
The European Central Bank (ECB) Governing Council decided on 30 Jan 2025 to lower the three key ECB interest rates by 25 basis points, saying the disinflation process is well on track. The deposit facility rate falls to 2.75%, the main refinancing operations rate to 2.90% and the marginal lending facility rate to 3.15%, with effect from 5 Feb 2025.
What changed (effective 5 Feb 2025)
- Deposit facility rate: 2.75% (down 25 basis points)
- Main refinancing operations rate: 2.90% (down 25 basis points)
- Marginal lending facility rate: 3.15% (down 25 basis points)
Budget 2025 Tax Changes in Effect: Credits EUR 2,000, Standard Rate Band EUR 44,000, USC 3% Rate
The Department of Finance said the Budget 2025 personal tax package of EUR 1.6 billion takes effect from 1 Jan 2025: the standard rate cut-off point rises from EUR 42,000 to EUR 44,000, the Personal, Employee and Earned Income Credits rise by EUR 125 to EUR 2,000 and the 4% USC rate is reduced to 3%. The Rent Tax Credit is EUR 1,000 for 2025 and, retrospectively, for 2024.
What changed (effective 1 Jan 2025)
- Standard rate cut-off point: EUR 44,000 (from EUR 42,000), with proportionate increases for married couples and civil partners
- Personal, Employee and Earned Income Credits: EUR 2,000 each (up EUR 125)
- USC: 4% rate reduced to 3%; entry threshold to the 3% rate up EUR 1,622 to EUR 27,382
- Rent Tax Credit: EUR 1,000 (EUR 2,000 jointly assessed) for 2025 and for 2024; up to EUR 250 more claimable for 2024
- Home Carer Tax Credit: EUR 1,950 (up EUR 150)
- Single Person Child Carer Credit: EUR 1,900 (up EUR 150)
ECB Cuts Deposit Facility Rate to 3.00% and Main Refinancing Operations Rate to 3.15%
The European Central Bank (ECB) Governing Council decided on 12 Dec 2024 to lower the three key ECB interest rates by 25 basis points, saying the disinflation process is well on track. The deposit facility rate falls to 3.00%, the main refinancing operations rate to 3.15% and the marginal lending facility rate to 3.40%, with effect from 18 Dec 2024.
What changed (effective 18 Dec 2024)
- Deposit facility rate: 3.00% (down 25 basis points)
- Main refinancing operations rate: 3.15% (down 25 basis points)
- Marginal lending facility rate: 3.40% (down 25 basis points)
Christmas Bonus for Over 1.38 Million People and Double Child Benefit on 3 Dec 2024
The Department of Social Protection said over 1.38 million people receive the Christmas Bonus, a 100% increase in their weekly rate of payment, in the week of 2 Dec 2024, and 676,000 families get a double Child Benefit payment of EUR 280 per child on 3 Dec 2024. The payments total over EUR 535 million and are paid automatically.
What changed (effective Dec 2024)
- Christmas Bonus: 100% of the weekly rate of payment, over 1.38 million recipients
- Double Child Benefit: EUR 280 per child on 3 Dec 2024 (the monthly EUR 140, doubled for November and December)
- Families and children: 676,000 families, over 1.27 million children
- Total paid in the week: over EUR 535 million
- How paid: automatically, with no application needed
ECB Cuts Deposit Facility Rate to 3.25% and Main Refinancing Operations Rate to 3.40%
The European Central Bank (ECB) Governing Council decided on 17 Oct 2024 to lower the three key ECB interest rates by 25 basis points, saying the incoming information on inflation shows that the disinflationary process is well on track. The deposit facility rate falls to 3.25%, the main refinancing operations rate to 3.40% and the marginal lending facility rate to 3.65%, with effect from 23 Oct 2024.
What changed (effective 23 Oct 2024)
- Deposit facility rate: 3.25% (down 25 basis points)
- Main refinancing operations rate: 3.40% (down 25 basis points)
- Marginal lending facility rate: 3.65% (down 25 basis points)
Budget 2025 Lump-Sum Dates Set: October Double Payment from 28 Oct 2024
The Department of Social Protection set payment dates for the 10 Budget 2025 lump-sum payments, totalling over EUR 1.4 billion: the October Cost of Living Double Payment in the week commencing 28 Oct 2024 for 1.4 million people, double Child Benefit on 5 Nov 2024 and 3 Dec 2024, and the Christmas Bonus Double Payment in the week commencing 2 Dec 2024.
What changed
- October Cost of Living Double Payment: week commencing 28 Oct 2024, 1.4 million recipients
- Double Child Benefit: 5 Nov 2024 and 3 Dec 2024, 678,000 families
- EUR 300 Fuel Allowance lump sum: week commencing 4 Nov 2024, 387,000 households
- EUR 400 Working Family Payment and disability lump sums: week commencing 4 Nov 2024 (46,000 families; 213,000 recipients)
- EUR 400 carers' and EUR 200 Living Alone lump sums: week commencing 11 Nov 2024 (145,000 carers; 254,000 recipients)
- EUR 100 per child on a Child Support Payment: week commencing 25 Nov 2024, 340,000 children
Budget 2025: Carbon Tax to EUR 63.50 a Tonne; 9% VAT on Gas and Electricity to 30 Apr 2025
In Budget 2025 the Department of Finance announced that the carbon tax on petrol and diesel rises from EUR 56.00 to EUR 63.50 per tonne of carbon dioxide from 9 Oct 2024, on the Finance Act 2020 trajectory, and on all other fuels from 1 May 2025. It proposed extending the 9% VAT rate on gas and electricity from 1 Nov 2024 to 30 Apr 2025, and a 9% VAT rate on heat pumps from 1 Jan 2025.
What changed (effective 9 Oct 2024)
- Carbon tax, petrol and diesel: EUR 63.50 per tonne of carbon dioxide from 9 Oct 2024 (from EUR 56.00)
- Carbon tax, all other fuels: EUR 63.50 per tonne from 1 May 2025
- VAT on gas and electricity (proposed): 9% rate extended from 1 Nov 2024 to 30 Apr 2025
- VAT on heat pumps (proposed): 9% from 1 Jan 2025
Budget 2025: Two EUR 125 Electricity Credits, for November/December 2024 and January/February 2025
The Department of Finance's Budget 2025 Tax Policy Changes book lists two EUR 125 electricity credits among the one-off cost of living measures announced in Budget 2025, the first for November/December 2024 and the second for January/February 2025.
What changed
- Electricity credits: 2 credits of EUR 125 each
- First credit: November/December 2024
- Second credit: January/February 2025
Budget 2025: Help to Buy Extension to End-2029; Mortgage Interest Relief for 2024 Up to EUR 1,250
In Budget 2025 the Department of Finance announced a four-year extension of the Help to Buy scheme for first-time buyers of new homes, from the end of 2025 to the end of 2029, and a one-year extension of Mortgage Interest Tax Relief: relief at the standard rate of 20% on the increase in interest paid in 2024 over 2022, capped at EUR 1,250 per property.
What changed
- Help to Buy scheme: to be extended to the end of 2029 (from the end of 2025)
- Mortgage Interest Tax Relief: extended by one further year: the increase in interest paid in 2024 over 2022, at 20%
- Maximum Mortgage Interest Tax Relief: EUR 1,250 per property
- Mortgage balance at 31 Dec 2022 (criteria unchanged): between EUR 80,000 and EUR 500,000 on the principal private residence
Budget 2025: New 6% Stamp Duty Rate on Residential Property Value Above EUR 1.5 Million
In Budget 2025 the Department of Finance announced a third rate of Stamp Duty on residential property: 6% on the part of the value above EUR 1.5 million. The existing 1% rate on value up to EUR 1 million and 2% rate above EUR 1 million up to EUR 1.5 million continue to apply. The Tax Policy Changes book gives no start date for the new rate.
What changed
- Value above EUR 1.5 million: 6% on that part of the value (new third rate)
- Value above EUR 1 million, up to EUR 1.5 million: 2%, unchanged
- Value up to EUR 1 million: 1%, unchanged
Budget 2025: Main Tax Credits Up EUR 125 to EUR 2,000; 4% USC Rate to Be Cut to 3%
In Budget 2025 the Department of Finance announced EUR 125 increases in the Personal, Employee and Earned Income Tax Credits, to EUR 2,000 each, and a EUR 2,000 increase in the standard rate cut-off point, to EUR 44,000 for a single person. The 4% USC rate is to be cut to 3%, with new USC rates from 1 Jan 2025, and the Rent Tax Credit is to rise from EUR 750 to EUR 1,000 for 2025.
What changed (effective 2025)
- Personal, Employee and Earned Income Tax Credits: EUR 2,000 each (from EUR 1,875)
- Standard rate cut-off point, single person: EUR 44,000 (from EUR 42,000); married couple, one income, EUR 53,000 (from EUR 51,000)
- USC 2% rate band ceiling: EUR 27,382 (from EUR 25,760)
- USC 4% rate: 3% (from 4%); new USC rates apply from 1 Jan 2025
- Rent Tax Credit: EUR 1,000, or EUR 2,000 jointly assessed, for 2025 (from EUR 750); also up EUR 250, or EUR 500 jointly assessed, for 2024
- Home Carer Tax Credit: EUR 1,950 (from EUR 1,800)
Budget 2025: EUR 12 Weekly Social Welfare Increase from Jan 2025 and 10 Cost of Living Payments
The Department of Social Protection announced a Budget 2025 package of EUR 2.6 billion on 1 Oct 2024: weekly social welfare payments, the State Pension included, to rise by EUR 12 from Jan 2025, and 10 Cost of Living payments to be made before Christmas, among them two double Child Benefit payments, a EUR 300 Fuel Allowance lump sum and an October double payment.
What changed (effective Jan 2025)
- Weekly social welfare payments: up EUR 12 from Jan 2025, with proportionate increases for qualified adults and people on a reduced rate
- Child Support Payment (weekly): EUR 62 for children aged 12 and over (up EUR 8) and EUR 50 for under 12s (up EUR 4) from Jan 2025
- Maternity, Paternity, Adoptive and Parent's Benefit: up EUR 15 to EUR 289 a week from Jan 2025
- Lump sums before Christmas: double Child Benefit twice; EUR 300 Fuel Allowance; EUR 400 for Working Family Payment, Carer's Support Grant and disability recipients; EUR 200 Living Alone
- Carer's Allowance income disregard: EUR 625 for a single person and EUR 1,250 for a couple from Jul 2025
- Auto-enrolment retirement savings scheme: to commence from 30 Sep 2025
National Minimum Wage to Rise to EUR 13.50 an Hour from 1 Jan 2025
The Department of Enterprise, Trade and Employment (DETE) confirmed on 1 Oct 2024, in its Budget 2025 release, an increase in the National Minimum Wage to EUR 13.50 an hour from 1 Jan 2025, fully meeting the recommendation of the Low Pay Commission.
What changed (effective 1 Jan 2025)
- National Minimum Wage: EUR 13.50 an hour from 1 Jan 2025 (up 80 cent)
- Basis: fully meets the Low Pay Commission recommendation
- Announced in: Budget 2025
Pension Standard Fund Threshold to Rise by EUR 200,000 a Year from 2026 Until 2029
The Department of Finance said the Government decided on a multi-year plan for phased increases in the pension Standard Fund Threshold (SFT) of EUR 200,000 per year beginning in 2026 until 2029, then converging with the applicable level of wage growth. The SFT has been unchanged since 2014; the decision follows an independent examination of the SFT regime.
What changed (effective 2026)
- Standard Fund Threshold (SFT): Phased increases of EUR 200,000 per year beginning in 2026 until 2029 (unchanged since 2014)
- SFT after 2029: To converge with the applicable level of wage growth
- Chargeable excess tax (CET) rate: To remain unchanged, with a review of the rate by 2030
- Pension lump sum higher-rate threshold: Limited to EUR 500,000 rather than a proportion of the SFT, to be introduced in Budget 2025
ECB Cuts Deposit Facility Rate to 3.50% and Main Refinancing Operations Rate to 3.65%
The European Central Bank (ECB) Governing Council decided on 12 Sep 2024 to lower the deposit facility rate by 25 basis points to 3.50%. As announced on 13 Mar 2024, the spread between the main refinancing operations rate and the deposit facility rate is set at 15 basis points, so the main refinancing operations rate falls to 3.65% and the marginal lending facility rate to 3.90%, with effect from 18 Sep 2024.
What changed (effective 18 Sep 2024)
- Deposit facility rate: 3.50% (down 25 basis points)
- Main refinancing operations rate: 3.65% (spread to the deposit facility rate set at 15 basis points)
- Marginal lending facility rate: 3.90% (spread to the main refinancing operations rate unchanged at 25 basis points)
Auto-Enrolment Bill Passes Oireachtas: Employer and Employee Contributions to Start at 1.5% Each
The Department of Social Protection said the Automatic Enrolment Retirement Savings System Bill 2024 passed both Houses of the Oireachtas and will be sent to the President for enactment. The Bill provides for employer and employee contributions starting at 1.5% and rising by 1.5% every three years to 6%, a State top-up of EUR 1 for every EUR 3 saved, and first enrolments set for 2025.
What changed
- Employer and employee contributions: Each to start at 1.5%, increasing every three years by 1.5% to 6% by Year 10 (2034)
- State top-up: EUR 1 for every EUR 3 saved by the employee, up to a maximum of EUR 80,000 of earnings
- Employer matching: Employers to match employee contributions up to a maximum of EUR 80,000 of earnings
- Who is enrolled: Employees not already in an occupational or equivalent pension scheme, aged between 23 and 60, earning over EUR 20,000 across all of their employments
- Opt-out or suspension: Available after six months' participation
- Administration: A new public body, the National Automatic Enrolment Retirement Savings Authority (NAERSA)
ECB Cuts Deposit Facility Rate to 3.75% and Main Refinancing Operations Rate to 4.25%
The European Central Bank (ECB) Governing Council decided on 6 Jun 2024 to lower the three key ECB interest rates by 25 basis points, after nine months of holding rates steady. The deposit facility rate falls to 3.75%, the main refinancing operations rate to 4.25% and the marginal lending facility rate to 4.50%, with effect from 12 Jun 2024.
What changed (effective 12 Jun 2024)
- Deposit facility rate: 3.75% (down 25 basis points)
- Main refinancing operations rate: 4.25% (down 25 basis points)
- Marginal lending facility rate: 4.50% (down 25 basis points)
PRSI to Rise from 1 Oct 2024: Class A Employee Rate 4.1%, Higher Employer Rate 11.15%
The Department of Social Protection's advance notice of PRSI changes for computer users said changes agreed by Government apply from 1 Oct 2024, pending legislative enactment: the Class A employee rate rises from 4% to 4.1% and the Class A employer rates from 8.8% and 11.05% to 8.9% and 11.15%.
What changed (effective 1 Oct 2024)
- Class A employee rate: 4.1% (from 4%)
- Class A employer rates: 8.9%, and 11.15% for employees earning more than EUR 496 a week (from 8.8% and 11.05%)
- Class S self-employed rate: 4.1% (from 4%)
- Employee PRSI Credit: no change: a tapered credit of EUR 12 a week on earnings between EUR 352 and EUR 424
- Status: pending legislative enactment
Bank of Ireland Raises 2-Year Fixed-Term Deposit Rate to 3.00% and 1-Year to 2.50%
Bank of Ireland announced new 1-year and 2-year Advantage Fixed-Term Deposit Accounts for personal and business customers, with the new rates available from 6 Jun 2024. The 2-year rate of 3.00% is 1.00 percentage point above its current 2-year fixed-term deposit rates and the 1-year rate of 2.50% is 0.50 percentage points above its current 1-year rate, with no upper limit on the balance.
What changed (effective 6 Jun 2024)
- 2-year Advantage Fixed-Term Deposit: 3.00% (up 1.00 percentage point on current 2-year rates); 5.98% return over the full term
- 1-year Advantage Fixed-Term Deposit: 2.50% (up 0.50 percentage points on the current 1-year rate)
- Balance limit: no upper limit; interest paid on the full balance
- Access during the term: up to 25% of funds can be withdrawn
Company announcement — figures are from Bank of Ireland Group’s own release, not an official government source.
PTSB Raises 1-Year Fixed Deposit Rate to 2.75% and 6-Month to 2% from 14 May 2024
PTSB announced changes to fixed-term deposit rates for personal and business customers from 14 May 2024: the 1-year fixed rate rises by 0.75 percentage points to 2.75% AER and the 6-month rate by 0.25 percentage points to 2%. The 3-year rate falls by 0.9 percentage points to 2.1%, and the 18-month and 5-year rates stay at 2.5% and 2%.
What changed (effective 14 May 2024)
- 1-year fixed-term deposit: 2.75% AER (up 0.75 percentage points)
- 6-month fixed-term deposit: 2% AER (up 0.25 percentage points)
- 3-year fixed-term deposit: 2.1% AER (down 0.9 percentage points)
- 18-month and 5-year fixed-term deposits: unchanged at 2.5% and 2% AER
- Who the new rates apply to: new and existing personal and business customers, excluding Corporate Deposit customers
Company announcement — figures are from PTSB (Permanent TSB)’s own release, not an official government source.
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