Dominic Coyle

Dominic Coyle

Deputy Business Editor

Dominic Coyle is Deputy Business Editor at The Irish Times

Nursing homecare under Fair Deal: Certain other things clearly are not deductible, including ancillary costs of your mum in the nursing home, such as hairdressing and optional activities. Photograph: John Stillwell/PA
Fair Deal nursing homecare leaves little for bills and gifts

Q&A: Dominic Coyle

I am considering selling my home at a profit of €300,000 then paying off the mortgage on the apartment plus the management fees, and then selling the apartment for a possible €230,000, using this profit to buy a small house. Photograph: Yui Mok
Getting out from under ‘never-ending’ Celtic Tiger debt burden

Q&A: Dominic Coyle

Actuaries say “significant” increases in PRSI needed to keep paying pensions at 65.
Pensions row fix could threaten future of State payment, actuaries warn

FG and FF reverse positions on upping pension age and now support transition pension

Measures put in place by the State ensure that retiring public servants are not affected by the pension gap.
Pensions in the spotlight, climate clash at Davos and confusion at O’Flynn empire

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

The State contributory pension is €248 per week, and the jobseeker’s allowance is €203, meaning a new transition payment at the same level as the pension would cost an extra €45 per person per week. Photograph : iStock
FG and FF back transition payment for persons retiring before to right to State pension

Consultant highlights inequity which sees public sector workers get supplementary pension

Measures put in place by the State ensure that retiring public servants are not affected by the pension gap
State subsidises public sector retirees to cover gap until State pension

Supplementary pension means only private sector workers are left in pensions limbo

In general there is serious disadvantage for a nursing home patient in disposing of the family home. Photograph: Getty Images
My father in a nursing home wants to gift me his house

Q&A: Dominic Coyle

As long as your annual gift is at or below €3,000, you do not need to declare it
Are there annual limits on inheritances or gifts to a child?

Q&A: Dominic Coyle

Willie O’Dea confirmed Fianna Fáil plans to outlaw contracts that force workers to leave their jobs at 65. Photograph: iStock
Restoring pension age to 65 would cost €620m a year, claims FF

Parties at odds over plans to outlaw contracts forcing people to retire at 65

Pensions have blown up as an election issue over the weekend. Photograph: iStock
Q&A: Why has the pension age question suddenly become an election issue?

Parties are scrambling to address pension concerns – here’s what you need to know

Sandra Gannon, chief executive of Azure Pharmaceuticals: 178 products are listed as out of stock amid fears the figure could grow post-Brexit. Photograph: Naoise Culhane
Azure seeks to protect Ireland against medicine shortage

Sandra Gannon services supply chain when firms stop investing in off-patent products

Horse geneticist Emmeline Hill said if inbreeding is unchecked, it would continue to increase, given the high demand in the business for particular bloodlines of successful sires. Photograph: Brenda Fitzsimons.
Inbreeding poses major threat to Ireland’s thoroughbred horse sector

Study shows Ireland was the second-biggest player in the €2bn global breeding business

Tigers Childcare chairman Cormac Tobin with Lilah Mahon and Karen Clince, managing director. Photograph: Conor McCabe Photography.
Tigers Childcare raises €5m to fund expansion into London

Creche and after-school care service operates 13 centres in Dublin and Meath for 1,250 children

Pointy co-founders Mark Cummins and Charles Bibby: established the company in 2014 and will share $80 million-plus for their 51 per cent stake in the business.
Pointy delivers for founders, family rows in the courts and setting the election agenda

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

Clinical trials group Icon expects turnover to rise by up to 10 per cent this year. Photograph: Dara Mac Dónaill
Clinical trials group Icon flags profit growth of up to 14% in 2020

Irish business expects to buy back one million shares from investors this year

As long as the adult children have not already received substantial inheritances from their mother, or gifts from either of you, there should be no immediate issue
Should I sell the old family home to allow children buy apartments?

Q&A: Dominic Coyle

The key thing in determining liability to taxation is the relationship between the disponer – the person making the gift or inheritance – and the beneficiary
Inheritance tax rules where young grandson’s dad has died

Q&A: Dominic Coyle

Equinome founder Emmeline Hill: “What we’re doing is assessing the natural variation or the natural genetics of an individual.” Photograph: Peter Houlihan
Racing DNA helps scientist make strides with speed gene

Equinome founder Emmeline Hill has brought disruptive technology to horse racing

International Airlines Group chief executive Willie Walsh, who has announced plans to retire from the airline group. Photograph: Niall Carson/PA Wire
Willie Walsh to step down as IAG chief executive

Former Aer Lingus chief will retire in June but step aside from board in March

Irish drug company Amarin says sales from Vascepa, its one cardiovascular drug for 2019, will be at or above the upper end of its previous guidance
Irish pharma group says sales of heart drug will top projections

Amarin doubling size of US sales force as FDA sanctions expanded market for Vascepa

Irish pension funds delivered bumper returns in 2019, making it the best year for investment returns in a decade.
Pensions deliver decade-best growth of 20.6% in 2019

Zurich Life tops peers as funds recover from calamitous end to 2018

A new system of calculating eligibility for the State pension is due to come in over the next couple of years. Photograph: Daragh Mac Sweeney/Provision
Will I be able to choose between systems for calculating size of State pension?

Q&A: Dominic Coyle

The first option is that you could avoid the bill – at least initially – by renouncing the inheritance
Aunt has bequeathed a house intended for my son to me

Q&A: Dominic Coyle

The mortgage deal you got when you first purchased your home is unlikely to still be the best available.
Homeowners missing out by not switching mortgages, brokers say

More than 80% of people on standard variable rate home loans likely to be overpaying

Only six in 10 Irish workers have some form of private pension savings, according to new data published by the Central Statistics Office
Private pensions cover only six in 10 Irish workers

CSO study cites affordability and ‘failure to get around to it’ as main reasons for shortfall

Irish heart drug company Amarin’s Vascepa is approved for widespread use in the US, Canada, the United Arab Emirates and Lebanon.
Amarin secures approval for heart drug Vascepa in Canada

Irish pharma group gearing up for legal battle over patents with generic drugmakers

The AIB purchasing managers index for December showed activity in the sector slowing down again as the year came to a close. Photograph: Getty Images
Brexit blamed as manufacturing sector extends downturn

December caps longest period of weakness for companies in eight years

Danger Mouse, which Boulder Media worked on for BBC and Fremantle. Photograph: FremantleMedia
Turnover up 60% at Irish animation studio Boulder Media

Studio founded by Robert Cullen produces cartoons for Disney, BBC and Nickelodeon

Until now, Minister for Employment Affairs Regina Doherty has consistently said the new pension system should be in place by the third quarter of 2020.
Minister concedes State pension reform plans put back to 2021

Regina Doherty’s new system could yet be further disrupted by a general election

Photograph: iStock
Insurance legal costs; easing rules on work permits and trouble at top Irish tech group

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

President Michael D. Higgins: in general, legislation really doesn’t get through the Dáil and Seanad any quicker than two and a half months before being presented for the President’s signature. Photograph: Dara Mac Dónaill
Will election mean delay in planned changes to State pension?

Q&A: Dominic Coyle

The dwelling home relief scheme was designed to ensure that someone who had stayed in the family home looking after elderly parents, or relatives, would not find themselves homeless upon the death of their parents/relatives because the property needed to be sold to meet any inheritance tax liability
Can property-owning daughter inherit parents’ home without tax?

Q&A: Dominic Coyle

US trade representative Robert Lighthizer gestures as he speaks during a meeting in Mexico with Canadian deputy prime minister Chrystia Freeland and Mexican leaders on the USMCA trade pact which will replace the Nafta accord. Photograph: Henry Romero/Reuters
Falling short on housing; Ryanair turbulence; and boardroom gender balance

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

We are going to be hearing a lot about the state pension over the next year or so
Confused by what pension my PRSI contributions will get me

Q&A: Dominic Coyle

Kerry may soon usurp CRH as the Iseq index’s heavyweight
Kerry taps Goldman Sachs; Tullow CEO resigns; and Mainstream in play

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

Position paper warns that the ‘current system of assessing new medicines in Ireland is not working’, with the country ranked bottom of 13 western European states in its speed of bringing new cancer medicines to patients
Cancer drug trials hit by lack of funding , report warns

Government urged to improve focus on pharma research and access to medicines

PEL Waste Reduction Equipment founder and chief executive Tommy Griffith: “Waste is always an issue.”
Mayo engineer is crushing it in the waste business

Tommy Griffith's has created an international engineering success by developing bottle crushers and solar-powered street bins

About 1,000 Pfizer employees in Ireland are members of the defined benefit scheme. Photograph: Brendan McDermid/Reuters
Pfizer pulls plug on pension reforms after union rejection

Drug giant warns managing costs in Ireland remains a ‘significant business challenge’

Finding a deposit for a new house can be very difficult. Photograph: Chris Ratcliffe/Bloomberg
Selling my home to help son and family buy a place

Q&A: Dominic Coyle

In terms of gifting a property to you, that would not allow your father to sidestep capital gains tax. He would still be obliged to file a CGT return and pay capital gains on the gift. Photograph: Cyril Byrne
Celtic Tiger property investments and capital gains

Q&A: Dominic Coyle

Amarin’s Vascepa has been found to reduce the risk of cardiovascular events in high-risk patients already being treated with statins.
Amarin secures European review for cardio drug Vascepa

Purified fish oil drug has been recommended by FDA for wider market approval

Grafton Street remains the 13th most expensive street in the world
Ticking off for Sean Dunne; Grafton Street rents among world’s highest; and bankers on the bold step

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

If your mother already has a diagnosis of Alzheimer’s, it may be too late to draw up an enduring power of attorney to ensure that the people she trusts are those making decisions for her should her Alzheimer’s deteriorate
Mum with Alzheimer’s diagnosis wants me to have her home now

Q&A: Dominic Coyle

Jones Engineering announces a €1 million donation to Technological University Dublin: Jim Curley; Molly Mew, BA drama; Gearóid Cronin, BSc product design; and TUD president Prof David FitzPatrick.
Jones Engineering to create 150 jobs in €7m modular plant

International engineering group investing in manufacturing and research site in Carlow

A Central Bank study finds that mortgage borrowers who draw down close to the maximum funds available are more likely to be first-time buyers in the Greater Dublin Area. Photograph: iStock
Record rents may put pressure on Central Bank to ease lending rules

Studies support existing caps on lending as a proportion of income and property value

Joanna Murphy, CEO of Taxback.com. Photograph: Dave Meehan
Taking the taxing out of claiming your tax back

Interview of the Week: Joanna Murphy, Taxback.com

Patients wait longer for new medicines in Ireland than in Europe – Ipha

Industry study tracks 15 drugs that have yet to be approved by the HSE for use in Irish hospitals

Irish banks will not allow you set up an account in any name other than your own, or that of your business
Can I open a savings account for my son’s rent in his name without him knowing?

Q&A Dominic Coyle

US medicines regulator, the Food and Drug Administration, has cleared a major increase in the patients that can access a heart drug from small Irish pharma Amarin.
Amarin shares jump as FDA panel backs heart drug

US regulator’s advisory committee backs dramatic increase in market for purified fish oil drug Vascepa

KBC Bank has urged the Central Bank to “turn the page” on the tracker mortgage scandal.
KBC’s fighting talk; Chinese take Goodbody; and Brexit fear for ham sandwiches

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

Former UK chancellor of the exchequer Philip Hammond, who has joined the board at Paul Coulson’s glass and metal packaging group, Ardagh. Photograph: Florence Lo/via AP
No house price bubble; bankers bashed; and red-faces at Revenue over ROS

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

Medical card: calculation of exemption limits is complicated
Making sense of the means test for over-70s medical card

Q&A: Dominic Coyle

You are liable for tax – outside of a small exemption – for any capital gain you make on the sale of an asset other than the family home. Photograph: Dominic Lipinski/PA Wire
You dodge capital gains but your son faces a big tax bill

Q&A: Dominic Coyle

Businessman Sean Quinn. Photograph: Dara Mac Dónaill/THE IRISH TIMES
Quinnbet appointment, DAA ambition and seeming to care about women at work

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

Heuston Station in Dublin, where CIÉ is considering putting 18 acres of land on the market
CIÉ considers sale of Heuston station landbank

Seen & Heard: Starwood pulls plug; broandband rows; Flutter on succession

AIB job cuts; Aer Lingus’ new routes; and taking the stage at Web Summit

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

Any bank caught up in the tracker mortgage scandal is obliged to handle your query in a manner agreed with the Central Bank. Photograph: Danny Lawson/PA Wire
KBC, transparency and tracker mortgages

Q&A: Dominic Coyle

The Connect trade union, which represents the craft workers concerned, said its members at Pfizer’s Ringaskiddy plant had rejected the proposals ‘quite decisively’. Photograph: Getty Images
Unions again reject Pfizer pension plan reform

Workers at neighbouring Cork plants divided on merit of new arrangements

Motor insurance firms to be forced into greater transparency

Insurers will have to give more information to those renewing policies under new rules

By a wide margin – 27% compared to an overall average of 12% – Irish bosses are more likely to consider adequate retirement income for workers to be the responsibility of the government
Just 10% of Irish pension plan sponsors rank ‘best practice’ as priority

When an Irish employer weighs up which fund provider to choose, the priority is for one which is easy for the employer to implemen(...)

No final decision has been made regarding the number of years for a full State pension. Photograph: Getty Images/iStockphoto
Reform of State pension still stuck in Cabinet logjam

Q&A: Dominic Coyle answers your personal finance questions

Joint tenants, tenants in common and inheritance

Q&A: Dominic Coyle answers your personal finance questions

More than 300 workers are to be let go at Novartis in Ringaskiddy, Cork. Photograph; David Creedon/Anzenberger
Novartis job losses are a blow but not the start of a downturn

Analysis: Unemployment in pharma is negligible and there are other employers locally

US group Molex is to close its Irish subsidiary. Photograph: Eamon Ward
Molex closes, WeWork steps back and finding green power in slurry

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

“There is absolutely nothing to stop your daughter inheriting your home without paying any inheritance tax as long as she owns no other property – or a share in any other property. She can avail of what is called the dwelling house exemption.”
Make a will for peace of mind on daughter’s inheritance

Q&A: Dominic Coyle

Ger Brennan, who trained as a nurse, was keen to merge his medical interest with sales. After ‘a hundred PFOs’ applying to be a medical rep he landed a contract job with Bayer
‘We’re not even using the UK as a landbridge’

Ger Brennan, who runs the Irish operation of MSD, is Brexit-ready and focusing on other issues

Certain supplements for specific groups will be exempt from the new VAT treatment.
Food supplements face 13.5% VAT in Finance Bill

Bill to give legal force to budget also provides for series of anti-tax avoidance measures

Governor of the Central Bank of Ireland Gabriel Makhlouf Photograph Nick Bradshaw for The Irish Times
Insurers premiums check, east coast wind farm plans and sweet success for Brodericks

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

Your car tax will stay the same – at least until next year’s budget. Photograph: Andreas Rentz/Getty Images
Does the budget change amount of car tax I have to pay?

Q&A: Dominic Coyle answers your personal finance questions

There are a number of rules for those availing of the residential stamp duty refund scheme. File photograph: Krisztian Bocsi/Bloomberg
Will higher commercial stamp duty cost me when building a home?

Q&A: Dominic Coyle answers your personal finance questions

In Budget 2020, Minister for Finance Paschal Donohoe increased the amount that a person or couple can earn while still being eligible for a full medical card
Am I eligible for an over-70s medical card following changes in Budget 2020?

Q&A: Dominic Coyle answers your personal finance questions

Workers install solar panels on a roof. Several readers wanted to know about the State’s deep retrofit scheme. Photograph: courtesy of Construct Ireland
Carbon taxes and healthcare issues among Budget 2020 questions posed online

A team of experts from The Irish Times and PwC answered budget questions online

What does Budget 2020 mean for you? Photograph: Gareth Chaney/Collins
Budget 2020 - what does it mean for me? Ask our experts a question

Irish Times and PwC answer personal finance budget queries online

‘My father-in-law has offered to sell an investment property to my wife and I for €300k. He paid €200k a number of years ago.’ Photograph: iStock
Hidden tax issues in purchase of home from father-in-law

Q&A: Dominic Coyle answers your personal finance questions

When is State pension reform happening as it will cost me money?

Q&A: Dominic Coyle

Irish companies could suffer a €500 million a year loss in export sales to the UK under a disorderly Brexit, Ibec has warned. Photograph: iStock
Ibec Brexit fear; fading attractions; and battle over funding for Dublin Airport plan

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

Anglo Irish Bank headquarters in Dublin back in 2009.
Bankers’ pay; bailout bills; and the mounting cost of Brexit

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

Jim Lennertz, BioMarin senior vice-president for commercial operations in EMEA: BioMarin is benefiting from “exceptional pool of life sciences talent and expertise in Ireland”.
BioMarin opens new Dublin HQ

Pharmaceuticals group employs 500 people in Ireland working on rare disease therapies

Bank of Ireland shares tumbled down to penny status as the State was forced to bail it and others out. Photograph: Cyril Byrne / THE IRISH TIMES
Be careful the advice you take – especially mine

Q&A: Dominic Coyle

Professionals tend to leave the workforce earlier, due to their access to higher pensions and greater financial security.
Twice as many workers aged 55 or over compared to 1998 – ESRI

Ireland excels at retaining those between 55 and 59 in workforce until they reach 60s

In Australia, certainly as far as foreign inheritances are concerned, no tax is due at all
What are the rules on inheritance for my family in Australia?

Q&A: Dominic Coyle

As far back as 2012, Ireland had targeted Ghana, along with Botswana, as countries of strategic importance in relation to the establishment of double taxation agreements
Irish officials disregarded Dept of Foreign Affairs concerns over Ghana trade deal

Deal was ratified by the Oireachtas last year but awaits approval form the Ghanaian side

The rules on capital gains exempt a principal private residence – i.e. your main home – from consideration. Photograph: Kate Geraghty
Will Revenue believe I made no gain on investment apartment?

Q&A: Dominic Coyle

Only 7 per cent actually follow through and leave something to a charity or charities in their will
Tax and leaving money to religious orders in my will

Q&A: Dominic Coyle

House prices may be falling in Dublin but there has been a strong pickup in sales across most of the capital’s commuter belt, new figures show.
KBC in tracker snare; boom time for art; and commuter belt property sales

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

Artist Fergus Ryan with his subject Kassandra Karema and the resulting portrait of Kassandra, which he submitted for a 189th RHA annual exhibition this year. Sales at the exhibition hit a post-financial crash high. Photograph: Nick Bradshaw
Boom time for Irish art sales as exhibition proceeds jump 37% to post-crash high

Noted increase for more expensive items but curator frets over possible Brexit impact in 2020

Mainstay Medical is an Irish medical device company targeting chronic back pain.
Mainstay Medical doubles revenue in first six months

Company submits application for pre-market approval to US regulator

Ger Rabbette, CEO, Uniphar. Photograph: Dara Mac Dónaill / The Irish Times
Uniphar: ‘We’re probably the only IPO in Ireland this year’

Interview of the Week: Ger Rabbette, Uniphar

Uniphar chairman Maurice Pratt with Daryl Byrne, chief executive of Euronext Dublin, and Ger Rabbette, chief executive of Uniphar at the bell-ringing ceremony in Euronext Dublin.
Strong first half puts Uniphar on track for 2019

Profit and revenue accelerate in first six months of the year for ‘outperform’ company

You cannot offset the expenses incurred in the necessary refurbishment work on the property against any capital gains tax bill arising on the sale of your shares. Photograph: Jason Alden/Bloomberg
Relief on capital gains for selling part of our home.

Q&A: Dominic Coyle

Unless you are paying rent to your uncle at the market rate when you move into this home, Revenue will consider that you are in receipt of a gift. Photograph: Kate Geraghty
Moving in now to a property I will eventually inherit

Q&A: Dominic Coyle

Inspection facilities being built at Dublin Port in advance of Brexit. Photograph: Alan Betson/The Irish Times
What would a no-deal Brexit mean for the biggest sectors of the Irish economy?

A comprehensive guide to the massive impact likely if the UK crashes out of the EU

The Apple iPhone 11 smartphone on display after an event in Cupertino, California. Photograph: David Paul Morris/Bloomberg
Apple’s new iPhone, tax defaulters and Johnny Ronan aims higher

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

Taxing times, targeting Ryanair and a popular pub closes

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

Have I a case over top-up mortgage that had no tracker option?

Q&A: Dominic Coyle

Does joint account rule out tax exempt small gift for son-in-law?

Q&A: Dominic Coyle

Under Ireland’s 2018 Data Protection Act, you are entitled to see what information is held by the credit bureau
Barred from borrowing for five years over €75 debt

Dominic Coyle helps a woman whose financial future has been compromised by a ‘simple mistake’

Brexit slowdown, construction goes green and keeping tabs on work hours

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

Photograph: Getty
Irish manufacturing sector slows at fastest rate in six years

Sharp drop in consumer demand and fall in new export orders with Brexit a key factor

Brian O’Sullivan, CEO of Fulfil Nutrition. ‘For me to hit the jackpot means to be the number one snack bar brand in Ireland and the number one in the UK and the number one in the US.’ Photograph: Aidan Crawley for The Irish Times
‘You have a lot of healthy bar brands out there but they don’t taste that great’

Interview of the Week: Brian O’Sullivan, CEO, Fulfil Nutrition

More articles