Dominic Coyle

Dominic Coyle

Deputy Business Editor

Dominic Coyle is Deputy Business Editor at The Irish Times

Pro-remain protesters take part in a rally rejecting UK prime minister Theresa May’s Brexit deal on Tuesday. Anti-Brexit groups ‘Best for Britain’ and ‘The People’s Vote Campaign’ are holding a joint rally tonight to call on MPs to say they are not buying the Prime Minister’s Brexit deal. Photograph: Jack Taylor/Getty Images
Brexit in reach, Aryzta investor lockout, and a business approach to the housing crisis

Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Aryzta chief executive Kevin Toland and chairman Gary McGann attend the company’s annual shareholder meeting in Switzerland last week. Photograph: Arnd Wiegmann/Reuters
Aryzta investors lose 90% of stake in business

Hundreds of former IAWS investors effectively locked out of €790m rights issue

Andrew Fein, an analyst at HC Wainwright, said the mineral oil controversy was “temporary noise that has been given an oversized weight by the bears”. Photograph: Hugh Macknight/PA
Amarin shares rally after sharp fall on back of trial concerns

Analysts bullish on prospects of Irish firm’s fish oil drug Vascepa as blockbuster therapy

Contact lens manufacturer Bausch & Lomb has announced an expansion of its production facilities in Waterford
Bausch & Lomb expands Waterford contact lens plant

Production lines for new lenses will create 100 jobs over the next four years

Rates charged under the Fair Deal scheme essentially come down to purchasing power. Photograph: Getty Images
Nursing home costs and Fair Deal

State is in a position to negotiate better rates than those paid by private patients

“While the initial intention was that you would be given the property, that has now changed. Who is to say it might not change again?”
Parents changed mind on giving us a home – after we had moved in

It makes sense to adopt a business approach when making large financial decisions

Amarin chief executive John Thero: detailed results for fish-oil drug Vascepa confirm initial figures for its success
Irish firm Amarin confirms heart drug success

Some concern over neutrality of placebo and whether it might have boosted Vascepa data

“I anticipate that the first review outcomes will be notified to pensioners in early 2019,” Minister for Employment Affairs Regina Doherty said. Photograph: iStock
State pension review could lead to increases for many people

Over 70,000 will get letters, and no payments will be reduced as a result of review

Minister for Health Simon Harris said pharmaceutical companies might be “reluctant to commit to significant expenditure to address issues that may, or may not, arise”. Photograph: Aidan Crawley
Call on Harris to focus on supply of medicines after Brexit

Companies say they are working actively to prepare for worst-case Brexit scenario

For all the improvements that the Total Contributions Approach promises, there is still the first step threshold of 520 paid contributions over a working life to be reached. Photograph: Bryan O’Brien
Does my wife fall short on access to new, improved pension?

Q&A: Dominic Coyle

Under Fair Deal, if your mother sells her home, then that becomes a liquid asset and liable to the 7.5 per cent payment every year without any cap. Photograph: John Stillwell/PA
Nursing home care: Can paying privately be better than Fair Deal?

Q&A: Dominic Coyle

IPHA president GSK’s Aidan Lynch (centre); IPHA vice-president Paul Reid (Pfizer); and Bayer’s Itziar Canamasas with the Manifesto for Better Health ahead of the IPHA annual conference on November 8th. Photograph: Justin Mac Innes
Big Pharma bids to build bridges in Ireland

Irish industry’s chief looks for partnership as he admits trust is lacking

Traders work on the floor of the New York Stock Exchange. Shares bounced on the last day of October, softening the blow of what has been a grim month. Photograph: Justin Lane/EPA
Bad news on repossession, markets bounce and the future of banking

‘Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Revenue has tightened the rules significantly when it comes to inheriting a property free of tax. Photograph: iStock
Falling short of dwelling house exemption

Q&A: Dominic Coyle

I think you should have nothing to fear from Ireland’s Revenue but you do need to be careful about the issue of the joint account
Does Italian insurance payout trigger tax liability in Ireland?

Q&A: Dominic Coyle

Ivan Coulter: “This is a company with fantastic potential.” Photograph: Dara Mac Dónaill
UCD spinout drug firm takes on fatal heart condition

Atxa Therapeutics is targeting pulmonary arterial hypertension

A cash inheritance of €150,000 is below the €320,000 tax exempt threshold applying for a child inheriting from a parent, and therefore incurs no tax bill.
Stay-at-home son entitled to relief from inheritance tax

Inheriting €150,000 along with a house still leaves son outside tax net

Whan calculating capital gains tax on the sale of a property, you are allowed deduct the costs of buying or selling it.
Facing a CGT bill for house inherited from father back in 1993

Capital gains tax indexation up to end of 2002 takes some sting out of tax bill

A group of revellers reflected in a womans sunglasses as crowds arrive for the Electric Picnic festival in Stradbally, County Laois. Photograph: Niall Carson/PA
Capital flows to US; bankers and bonuses; and a new mortgage market entrant

‘Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Victims of the hepatitis C blood contamination scandal and Magdalene Laundry survivors will not pay tax on their compensation payments under previously unannounced measures in the Finance Bill. Photograph: Dara Mac Dónaill
Magdalene and Hep C compensation to be exempt from income tax

Government’s Finance Bill provides tax relief for victims while closing other loopholes

Fiona Reddan examines why affordable housing isn’t working in her new column. Photograph: Rui Vieira/PA Wire
Aryzta battle, desert decision and sinking feeling for apartment owners

‘Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Minister for Finance Paschal Donohoe: his recent budget specified a €5 weekly rise in welfare payments. Photograph: Cyril Byrne
Welfare’s weekly €5 raise has no impact on public service pensions

Q&A: Dominic Coyle

The Saudi Arabian flag is seen behind barbed wire as it flies on the roof at the Saudi Arabian consulate in Istanbul. Photograph: Ozan Kose/AFP/Getty Images
Beware money launderers; Saudis bite back; and the perils of corporate rebranding

‘Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Siro was one of three shortlisted bidders for the troubled National Broadband Plan (NPB) tender but pulled out in September 2017. Photograph: Andrew Matthews/PA Wire
Siro revenues multiply as network now live in 17 towns

ESB/Vodafone joint venture at ‘advanced’ stage in bringing broadband to 11 more towns

The payment that you, and most people, have known for years as family income supplement is now called the working family payment. Photograph: Getty Images
Maintenance, means tests and the working family payment explained

Q&A: Dominic Coyle

Predictably, housing was at the top of many readers’ minds when they contacted our online Budget 2019 Q&A. Photograph: iStock
Housing, welfare and childcare dominate budget Q&A

Readers seek detail on a wide range of subjects despite the absence of surprises in speech

The complexity of family arrangements never loses the capacity to surprise. Photograph: Nick Bradshaw
Mother-in-law’s gift could create a tax headache

Q&A: Dominic Coyle

There are three different categories for inheritance tax. Photograph: iStock
What is the status of grandchildren in relation to inheritance tax?

Q&A: Dominic Coyle

Minister for Employment Affairs and Social Protection Regina Doherty said “good progress” was being made preparing for the reviews of pensions announced by the Government earlier this year. Photograph: Cyril Byrne
Backdated payments for 67,000 pensioners to be made in first quarter of next year

Pensioners to receive letters at end of month explaining how the new rules will affect them

John Thero: “We’re taking the approach of make it [Vascepa] affordable, and hopefully we can help millions of patients and make some money along the way”
Amarin – an overnight success 10 years in the making

After several false starts, way is clear for John Thero to take Vascepa cholesterol drug to market

The pharmaceutical industry has urged the Government to introduce “predictable multi-annual budgeting” for breakthrough medicines in the budget process.
Call for fresh approach to funding new medicines

Pharmaceutical sector urges faster access to markets and sharper focus on innovation

Almost half of those with no private pension say they intend to rely on the State pension for their income in retirement. Photograph: iStock
Debt in retirement seen as a reality for future pensioners

Aviva warns that poverty looms for many as personal financial commitments continue

Property developer Sean Dunne, who faces another 10 years in bankruptcy following a High Court hearing. Photograph: Collins
Throwing the book at Dunne; Budget figures and a new mortgage lender

‘Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Whether one leaves additional properties in a will or determines they should be sold and the proceeds distributed is irrelevant from now on. Photograph: iStock
Court changes rules on dwelling house relief

Q&A: Dominic Coyle

Ryanair goes to Europe; Digital tax deal; and a signature day for Stripe

‘Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Venn Life Sciences chairman Allan Wood says that investment in business development should deliver an improved order book in future.
Venn shares hit new low as sales slide 15%

Clinical trials group falls to a loss but is optimistic for the future

‘Children receiving gifts or inheritances from their parents fall into category A.’ File photograph: Getty Images/iStockphotos
Will our stepchildren lose out on inheritance?

Q&A: Has our lawyer led us astray when it comes to providing for our new family?

Accommodation costs are a major headache, especially in Dublin, where rent levels are at record levels and prices are back close to their bubble-era peaks
Taxing time as I rent own home to rent elsewhere

Q&A: Dominic Coyle

Analysts said Amarin could now expect sales of up to $2.7 billion annually for a drug that currently brings in $230 million in revenue. Photograph: iStock
Amarin surges as trial results exceed expectations

Company’s Vascepa drug proves effective in reducing risk from stroke and heart attack

Only 15 per cent of Irish people questioned feel confident now about their financial position in retirement.
More than 80% worried about financial security in retirement – study

Survey also finds that 40 per cent plan to do some part-time work in retirement

The RHA exhibition featured 416 Irish and international artists. Photograph: Aidan Oliver Photography
Sales dip at RHA’s annual exhibition

Royal Hibernian Academy event seen as a barometer for wider Irish art market

The ReActiv8 unit is designed to treat disabling pain in patients with chronic lower back pain through the use of an implant that stimulates nerves to strengthen muscles in the lower back
Mainstay on track to announce trial results as revenues rise

Company awaits data as it looks to roll-out ReActive8 device to patients in the US

Some 650 call centre staff working with HCL are threatening industrial action after being told they must either relocate or face “derisory” redundancy packages. Eir is taking the customer service work back in-house. Photograph: Alan Betson / The Irish Times
Taxing low pay; redundancy row; O’Brien’s Actavo joins NBP bid

‘Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Offaly man John Lyttle has just been named CEO of the Boohoo online retail group
Taxing times; Boohoo’s new star; and McGregor’s new whiskey brand

‘Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Revenue, they are likely to look askance at 2009 losses they have never heard of suddenly appearing on a tax return.
Am I too late to claim against losses on Elan and Waterford Crystal?

Losses must be declared for Revenue to track them if they are being offset against gains

Pfizer is one of four pharma companies – along with Abbott, Johnson & Johnson (J&J) and Merck – examined in the report ‘Hard to Swallow: Facilitating Tax Avoidance by Big Pharma in Ireland’. Photograph: Tom Bergin/Reuters
Ireland’s corporate tax rate hurting emerging economies – Oxfam

Aid agency says pharma giants are using system to deprive countries of €100m a year

Revenue will consider any of your assets as fair game for assessing inheritance tax.
Will putting money in joint names avoid inheritance tax?

The source of money in joint names determines the issue of tax liability

Minister for Finance and Public Expenditure & Reform Paschal Donohoe with Mary Rose Burke, chief executive of Dublin Chamber, and Prof Mike Danson from Herriot Watt University at the Dublin Economic Workshop. Photography: Conor McCabe
Reckless spending and counterproductive meddling: economists report on Government policy

‘Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Minister for Health Simon Harris. The Department of Health papers note that “a key issue for health agencies, where unfunded pension liabilities are recognised, is the absence of a matching pension asset”. Photograph: Brian Lawless/PA Wire
Health agencies face potential insolvency over pensions

Voluntary providers could receive court orders if they continue with current practices

Bank of England governor Mark Carney has delivered a “chilling” warning to Theresa May’s cabinet that a no-deal Brexit could lead to economic chaos. Photograph: Daniel Leal-Olivas
Carney grim on Brexit; US upbeat in Ireland; and another go at the housing crisis

‘Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Eva Milka of Gaelic Escargot, the snail farm and business she runs with her partner Eoin Jenkinson in Co Carlow. Photograph: Bryan O’Brien
Eir pulls the plug; gunning for Ryanair; and snails delivering in Carlow

‘Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

There are certain immutables in retirement options in the public service, and one of those is that your start date in the public service is the day you started – regardless of your changing status. Photograph: Getty Images
Teacher puzzled over date of compulsory retirement

Q&A: Dominic Coyle answers your personal finance questions

This sounds as though they are abusing your generosity as parents to try to sign you on as guarantors for the entire loan – with your own home as security. Photograph: Getty Images
Bank tried to turn gift to son into guarantee of home loan

Q&A: Dominic Coyle

Even though they are exported from Ireland for use in other European countries, five drugs manufactured in Ireland for the treatment of cancer and heart disease are not sanctioned for use here.
Irish patients denied access to drugs made in Ireland

Pharma companies says drugs being exported to European markets but are not approved here

Chanelle founder and owner Michael Burke: “We’ve doubled turnover in the last five years, and expect to double turnover again within the next five years.” Photograph: Michael Dillon
Galway pharma business to create 350 jobs over next five years

Loughrea-based Chanelle Group announces further €86m expansion even as Tánaiste opens latest €10m investment

Independent News & Media chief executive Michael Doorly (left) with retiring chairman Lesley Buckley at the company’s EGM earlier this year. Photograph: Brenda Fitzsimons
A blow for INM, a new idea for housing crisis and Cork is home to ‘world best’ factory

‘Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

When it comes to abatement, specific legacies trump general legacies.
Shortfall in mother’s will means legacies cannot be paid in full

Q&A: Dominic Coyle

It could be you? The National Lottery is selling almost 10 per cent of all tickets online now. Photograph: Nick Bradshaw
BidX1 eyes foreign markets, online win for Lotto, and seeing the positive in stalling house prices

‘Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Two members of the Manchester fire department in New Hampshire assess the condition of a man who had overdosed on heroin and who was revived with two doses of Narcan. Photograph: Don Emmert/AFP/Getty Images
Making millions: how Irish team hit $735m jackpot with overdose rescue drug

US opioid crisis helped growth of overdose rescue drug marketed by Adapt Pharma

A man administers Adapt Pharma’s rescue drug Narcan as they try to revive a man who overdosed on heroin . The man later came to and was taken to the hospital. Photograph: Spencer Platt/Getty Images
Payday for drug developers, Digicel travails, Smurfit in the wars, and green levy cuts

‘Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

An overdose rescue kit featuring nasal spray and injectable Naloxone at a demonstration in New York. File photograph: Getty Images
Six Irish men to share $635m after sale of drug firm

Adapt Pharma’s Narcan spray used in the front line of opioid crisis in United States

A man administers Adapt Pharma’s Narcan as they try to revive a man who overdosed on heroin in Philadelphia. The man later came to and was taken to the hospital. Photograph: Spencer Platt/Getty Images
Overdose rescue drug Narcan earns Irish team $635m payout

Adapt Pharma sold to US group Emergent Biosolutions as US opioid crisis drives demand

Kandy Therapeutics is set to advance trials on a drug it believes could help women deal with hot flushes and night-time sweats linked to menopause. Photograph: PA Wire
Kandy Therapeutics raises £25m for menopause drug

Irish healthcare venture capital group Fountain among backers of HRT alternative

The dwelling house exemption can enable someone inheriting a home to avoid inheritance tax.
Losing out on dwelling house relief

Q&A: Tax implications highlight importance of making a will

There is no obligation to provide for non-dependant children in a will.
If you die before you inherit, does inheritance die with you?

Q&A: Position of children of direct descendants clear under Succession Act

Put the name of the company whose shares you are want to talk about prominently at the top of your letter
Hunting for contact details for share registrars

Q&A: Dominic Coyle

Pensions consultants Mercer have raised alarm at indications that the Government might reduce tax relief on retirement savings.
Concern at lower tax relief under mandatory pension plan

Consultants Mercer also opposes exclusion of close to 700,000 workers from auto-enrolment scheme

Under the proposal, all PAYE workers between the ages of 23 and 60 earning more than €20,000 will be automatically enrolled in a pension in 2022 if they are not already signed up to a scheme. Photograph: Krisztian Bocsi/Bloomberg
Workers could have 6% of pay put into mandatory pension

State, employers and workers will all contribute to proposed scheme from 2022

The number of homes built in the second quarter was up 34 per cent on this time last year, but it is still far short of demand. Photograph: Rui Vieira/PA Wire
Equity released, a sweet deal and disappearing pubs

Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Ultimately, the valuation date is the date when the value of the property and assets is established.
Working out the tax bill on a long-delayed inheritance

Q&A: Dominic Coyle

Capital gains is a self-assessed tax – the Revenue relies on you being honest in submitting your claims and liabilities.
Selling properties at a loss

Q&A: If there is no profit, the issue of capital gains tax does not arise.

Anthony Smurfit CEO (left) of Smurfit Kappa Group, and Liam O’Mahony, chairman, pictured at the company AGM in Dublin earlier this year.
Smurfit Kappa shareholder, Ryanair talks, and a new store for Lidl

Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Photograph: iStock
Family row after mother dies without a will

Q&A: Dominic Coyle

Irish international polo player Siobhán Herbst (astride horse) with colleague April Kent: Ms Herbst is running what she says is Ireland’s largest polo event, for charity, in Phoenix Park.
Polo provides opportunity for Irish racehorse trainers

Siobhán Herbst creates equine firm to supply alternative to dear Argentine bloodstock

The Health Service Executive says it has approved six cancer therapies this year and 24 since the start of 2016.
Big Pharma scathing on failure to endorse new cancer medicines

Cancer strategy targets ‘to be missed’ if new generation drugs not backed by Government

Bruce Cozadd, chief executive and chairman of Jazz Pharmaceuticals, which saw its shares fall more than 6 per cent overnight as it lowered full-year guidance. Photograph: Dara Mac Dónaill
Jazz Pharma slips as it lowers full-year guidance

Irish drug group reports 27% rise in sales but profit slips and supply disruptions remain

Iranians walk by mural painting of the founder of the Islamic Republic Ayatollah Ruhollah Khomeini on the wall of the former US embassy in the Iranian capital Tehran was US President Donald Trump warned countries against doing business with the country. Photograph: Atta Kenare/AFP/Getty Images
Defying sanctions, Musk hints at private, and Snapchat loses users

Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

It may be the house of your dreams but you are a first-time buyer only once.
Buy to let purchase will cost you first-time buyer status

Q&A: Dominic Coyle

The problem: in the tax authorities’ eyes, your partner is effectively “gifting” you a large part of your half share of the money.
Buying a house with a partner who is providing bulk of the funds

Q&A: Dominic Coyle

Once you become an executor to a person’s estate, you are answerable for life for any actions taken as executor.
Chasing executor for inherited shares never received

Q&A: Executors can be made personally liable for loss if negligent

Selling your shares this month, or next, will have no bearing on that tax liability – apart from possibly freeing up cash to pay it.
You can’t offset CGT against an inheritance

Q&A: Dominic Coyle

There is nothing in the legislation to say you have to go to a registered contractor for your self-build. Photograph: iStock
Do I have to go with a registered contractor for my self-build?

And can I use Help to Buy scheme to help me with my deposit for the mortgage?

Drug companies have warned against moves to weaken protections for intellectual property rights in Europe. Photograph: Getty Images
Moves on IP rights in Europe could affect jobs in Ireland, drug firms warn

EU states expected to discuss plans to loosen restrictions on manufacturing by generics firms

K Club owner Michael Smurfit has been subpoenaed to appear at the High Court. Photograph; Dara Mac Dónaill
Smurfit subpoena, talking down tax cuts, HSE missing out on savings

Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Medicines for Ireland says the generic substitution and reference pricing regime has delivered savings of €1.6 billion to the State since 2013. Photograph: Russell Boyce/Reuters
HSE could save up to €140m on medicines, says industry group

Spending on high-tech drugs almost doubles to over €660m in nine years

Minister of State Pat Breen with Lauren Blake, software test engineer at BD, at the formal opening of the medical device company’s new centre of excellence in Limerick. Photograph: Liam Burke/Press 22
Limerick boost as Becton Dickinson adds 85 jobs to R&D centre

Medical device firm with 54-year history in Ireland officially opens centre of excellence

According to research, on average people start saving for retirement aged 37 – too late, Irish Life says. Photograph: Getty Images
90% of workers not on track with their pension savings

Report says sector needs to make pensions more accessible and understandable

The ReActiv8 unit is designed to treat disabling pain in patients with chronic lower back pain through the use of an implant that stimulates nerves to strengthen muscles in the lower back
Mainstay Medical hits milestone in key US clinical trial

Group completes back pain neurostimulator implants in all 204 patients enrolled in test for device

Proper tax planning aims to ensure any property portfolio is liquidated into cash – or that the other properties are allocated in a will to parties other than the person destined for dwelling house relief.
Revenue appeals ‘determination’ in dwelling house exemption rules

Q&A: Dominic Coyle

“We need the house sold but it seems to be a huge cost involved if we employ a solicitor barrister.”
‘Loose arrangement’ comes back to haunt sisters

Sibling reluctant to vacate family home after death of parents causes much angst

Two of the three main depositaries for Revenue-sanctioned SAYE schemes are based in England. Photograph: Getty
Share purchase schemes could fold as a result of Brexit

Over 10,000 Irish employees face being left out of pocket on save-as-you-earn schemes

The K Club golf resort in Straffan, Co Kiladare is named as a defendant in a High Court case over an alleged threat made to a former employee. Photograph: Alan Betson
Bank bill for trackers, K Club in court and Ryanair facing stormy weather

Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Photograph: iStock
Reducing tax relief on contributions will not solve pension crisis, say actuaries

Society of Actuaries rejects idea for SSIA-type scheme as way to make pensions accessible

The Category A tax threshold on inheritances and gifts has absolutely no bearing on dwelling house relief. Photograph: iStock
Solicitor's advice on inheritance is simply wrong

Confused over whether daughter will pay tax if we leave her our home

It’s difficult enough to get on the housing ladder these days without lenders putting unnecessary barriers in the way. Photograph: iStock
Bank gets its maths wrong on parental gift towards house

My girlfriend’s dad wants to give her €35,000 towards a house but the bank says tax is due

The Irish Pharmaceutical Healthcare Association says the Government accepts that its medicines bill has been “relatively stable” at about €1.7 billion for the past five years. Photograph: Cyril Byrne
Pharma body calls for more State funding on medicines

Government to save €15m this year as prices fall across 750 drugs

Is a slowdown in house price growth in sight? Photograph: Rui Vieira/PA Wire
Mortgage lending limits put squeeze on rising house prices

Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

Tommy Nielsen, chairman of the Association of Pension Trustees in Ireland: Complexity, he argues, is a defence for paralysis at the Department of Social Protection
Ireland’s ‘bizarre pensions landscape’ criticised by industry leader

Government plan for public consultation on auto-enrolment a ‘deflectionary tactic’

Falling foul of Trump, tax-free workers and good times for Sisk

Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

The situation is even more cut and dried on transfers of assets between partners. Photograph: iStock
Capital losses and transfer of shares to spouse

Q&A: Dominic Coyle

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