Dominic Coyle

Dominic Coyle

Deputy Business Editor

Dominic Coyle is Deputy Business Editor at The Irish Times

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

The sale Phoenix Group will trigger a “return of value” of about £1.75 billion to the group’s shareholders – including almost 57,000 in Ireland
Standard Life egm backs deal that gives £1.7bn cash payout to shareholders

Overwhelming support for sale of insurance business in Ireland and Britain to Phoenix

You’d want a pretty sharp tax adviser to try to persuade Revenue you were anything other than Irish-domiciled.
Coming home from the Middle East and making a will

Q&A: Dominic Coyle

In France and Ireland – but not the UK – inheritance tax is levied on the beneficiary and not on the estate.
Quelle surprise! Inheritance in France is a mixed blessing

France levies tax of 55 per cent on inheritance over €8,000 threshold

The All Blacks perform the haka in Eden Park, Auckland, in 2017. Standard Life’s return of capital to shareholders will be broken into two sums – £1 billion and £750 million. Photograph: Peter Meecham/ Inpho/Photosport
Standard Life again returning capital to shareholders

Company to conduct share consolidation alongside return of £1.75 billion

Tier One managing director Kevin Coughlan says the process of pensions reform has continued behind closed doors.
Dysfunctional Irish pension structures deter savers, advisory group says

Government should focus on simplifying regulation, lobby group says

AuriGen Medical founders Tony O’Halloran, chief technology officer, and chief executive John Thompson at their office in NUI Galway. Photograph: Aengus McMahon
Galway firm targeting irregular heartbeat patients tops EU funding list

AuriGen Medical rated first of 1,280 firms in Horizon 2020 funding round across Europe

“The world of data is in upheaval because existing technology does not work,” says Data Chemist chief executive Kevin Feeney. Photograph: iStock
Trinity spin-out looks to make sense of disorganised data

Data Chemist technology allows connections in data to be mapped

A total of €9.4 million in settlements was agreed with 61 taxpayers
Retired doctor agrees €1.86m settlement with Revenue

Valerie Donnelly is one of 61 taxpayers named in defaulters list

If this is a second house, you are facing a tax bill regardless of whom you sell it to – assuming it is not in negative equity
Getting our daughter on the housing ladder

Q&A: Dominic Coyle

Inheritance windfall gives you the choice of whether to pay off debt or use the money to invest
Mortgage or investment: how to use an inheritance

Q&A: Dominic Coyle

Smurfit shares hit, the cost of Storm Emma and a potential whiskey shortage

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

Which precise rules apply depend on where the inheritor and the donor live at the time of death, or possibly even which third country a property is located in.
Making sense of inheritance when family spans different countries

Q&A: What are the tax rules for both ourselves and our children?

Tax-free: rather than an annual gift, the French permit a single financial gift in any 15-year period. Photograph: Charles Platiau/Reuters
French tax law on gifts at odds with Irish practice

Q&A: Dominic Coyle

There is no turning the clock back on first-time buyer status
Can I regain first-time buyer status by walking away from rights to home?

Q&A: Dominic Coyle

Patent protection rules that curb competition for medicines in markets outside the European Union should be changed, the European commission has proposed. Photograph: Julien Behal/PA Wire
EU proposes waiver for manufacturers of generic drugs

Big pharma companies object to change that would allow generic manufacture of protected medicines for markets outside the bloc

The war of words between Michel Barnier and David Davies shows no sign of abating as the Brexit deadline draws ever closer.
Brexit bickering; a nose for discovery; rugby’s Pro14 pays; and Louth turns back on Teeling

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

Neurent Medical founders David Townley, chief technology officer and Brian Shields, chief executive: The company hopes to begin the first of two clinical trials next year, possibly in the US. Photograph: Michael Dillon
Neurent raises €9.3m to put paid to chronic runny noses

Galway medical device firm developing rhinitis cure device for use in doctors’ offices

The Irish Association of Pension Funds survey showed that almost two-thirds of companies have acted to derisk their pension fund investment strategy. File photograph: Getty Images
Firms committed to final salary pension plans, survey shows

Irish Association of Pension Funds analysis reveals most schemes closed to new members

Reforming the amount of tax relief on pension contributions is unlikely to result in increasing the saving habits of lower paid workers, according to an ESRI report.
Pension reform could deliver saving of €1bn to exchequer

ESRI report says changes to level of tax relief unlikely to benefit lower paid workers

The founder and chief executive of Facebook Mark Zuckerberg leaves the European Parliament after an hearing in Brussels. Mr Zuckerberg appeared before the European Parliament representatives to answer questions in a live broadcast on data information breach by Cambridge Analytica and also how Facebook uses personal data in general. Photograph: EPA/Stephanie LeCocq
Hyatt for Dublin, Zuckerberg in Brussels and thumbs up from Moody’s

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

When the State acquired a 99.8 per cent share AIB in order to prop it up, that effectively meant the investors who previously owned 100 per cent of the bank now owned by 0.2 per cent.
Will giving AIB shares to charity allow me access my capital loss?

Q&A: Unless the shares are sold, there’s no capital loss to use

Any communications from Computershare relating to a Eircom shareholding would be helpful when seeking information about it from the registrar. Photograph: Aidan Crawley/Bloomberg
Tracking down details of loss on Eircom shares

Q&A: Shareholders should always keep documentation relating to their shares

David Cadogan and Killian MacDonald of Gilead Sciences: firm has invested more than €190 million in its Irish business since first opening here in 1999.
Gilead Sciences launches €9.5m unit at Cork plant

Biopharma firm’s Carrigtwohill quality control lab to boost output for overseas markets

Carillion: a cocktail of greed, arrogance, incompetence and aggressive accounting practices combined to bring the business down, MPs state in their report on its collapse. Photograph: Daniel Sorabji/AFP/Getty Images
Victoria’s Secret, Ires bonus and blame all round over Carillion collapse

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

“If you are Irish domiciled, the full gain on any sale of your Indian property is taxable in Ireland under our capital gains tax regime; however, if you are Indian domiciled, Ireland will tax you only on the amount you bring into the State to help you buy your new home here.”
Selling a home in India to buy a house in Ireland

Q&A: Key issue in relation to tax liability is where you are domiciled

President Donald Trump: his decision on Iran could damage Irish trade just as he looks to U-turn on a previous US blockade of a Chinese firm Photograph: Evan Vucci/AP Photo
Sanctions, U-turns and opportunity in international trade

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

Capital losses remain a stark reality for many people who were invested in the boom years, and not just in property. Photograph: iStockphoto/Thinkstock/Getty
Offset your investment losses against capital gains

Q&A: Dominic Coyle

Lawyerly advice and good sense dictates one should do everything possible to avert a family row over your inheritance. Photograph: iStockphoto/Getty Images.
A letter of wishes in lieu of a will is not legally binding

Q&A: If you are changing your will, you really do need to go through a solicitor

It is not uncommon for parents to amend their wills as circumstances change.
Making financial provision for a guardian to my children

Q&A: Most lawyers will advise setting up a trust to provide for care of children

By inheriting a second property from a parent, along with the family home, a person no longer qualifies for the dwelling home exemption as they are deemed to have an interest in another property. Illustration: iStock
Son living at home ineligible for dwelling home relief

Q&A: Inheriting family home and second property means both come into tax net

The relief from capital gains of the sale of someone’s principal private residence is one of the best known tax reliefs A person can receive cumulative gifts and/or inheritances from their parents of €310,000 under current rules without incurring a tax liability. Photograph: iStock
Can mum gift wife her home without any tax bill?

Q&A: Property gift could incur liability under gift tax or capital acquisitions tax

Ardagh chairman and chief executive Paul Coulson, hailed the benefits of scale and diversity as the company reported strong earnings Thursday despite falling sales at its US glass business. Photograph: Frank Miller
Shares in Paul Coulson’s Ardagh jump on target-beating results

Strong performance in metals and European glass operations offsets falling sales and rising costs at North American glass business

HiberGene chief executive Brendan Farrell said the company was halfway through its latest fundraising round.
Irish firm HiberGene Diagnostics unveils new rapid test for meningitis

Company raising €5 million for product development and global commercialisation

KBC, or IIB Homeloans as it was called back then, did advertise a promise in late 2006 that its “standard practice” was to transfer everyone on a fixed rate to a tracker mortgage at the end of the fixed term as a default
Should KBC have offered me a tracker option in 2009?

Q&A: Dominic Coyle

Railing against tax, IPO payday and global ambitions for a Carlow firm

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

The relief from capital gains of the sale of someone’s principal private residence is one of the best known tax reliefs
Brother facing CGT bill after family home burned down

Q&A: Dominic Coyle

Photograph: iStock
Price pressure keeps nine new drugs from Irish patients

Cancer drugs feature in list of therapies waiting HSE approval on cost grounds

Ireland’s pension liability as a percentage of GDP is low relative to other countries, reflecting Ireland’s comparatively young population.
Irish pension liabilities top €430bn

Ireland less exposed to pension liabilities than other EU states, CSO figures show

Artist’s impression of new MSD site at Swords, expanded to 43,000sq m from previous 31,000sq m plant.
Pharma giant seeks planning for Swords plant

Biotech facility to employ 350 on repurposed and expanded Dublin site

Former INM chairman Leslie Buckley, who is reported in court documents to have passed on confidential information to INM shareholder Denis O’Brien about communications minister Denis Naughten’s plans to refer the Celtic Media merger to the regulator. Photograph: Brenda Fitzsimons
INM and the minister, budget insight, the iPhone skewing growth figures and Ireland becomes a Facebook friend

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

Approved Retirement Funds were introduced as an alternative to transferring a pension fund into an annuity on retirement. Photograph: Jonathan Brady/PA Wire
Revenue ties cross-border tax on ARFs up in knots

Q&A: Dominic Coyle

Any young couple looking to put aside money to save a deposit will be grateful for help. Photograph: Chris Ison/PA Wire
Is there any issue with giving son an apartment rent-free?

Q&A: Dominic Coyle

More articles