Taxman at the gate: Farmers in the North fear inheritance changes will wipe them out
Did the Treasury miscalculate the true value of farms when formulating its plans to transform inheritance tax? Pavel Barter takes a closer look
Today at 21:30
Upcoming changes to Inheritance Tax (IHT) rules in the UK are causing serious concern among Northern Ireland farmers, many of whom fear they will be forced to sell land to meet future tax bills.
Although the reforms are not applicable in the Republic, the issue is attracting strong interest among Irish farmers who are closely watching how inheritance rules are being reshaped just across the border — particularly as the capital value of land continues to soar and succession planning becomes more urgent.
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Sunday World
an hour ago
- Sunday World
Murdered Scottish gangsters linked to Kinahan Cartel's €157m cocaine shipment
Fears that double killing could signal Irish gangsters' involvement in new mob war The pair, who were shot dead in an attack at Monaghan's pub in Fuengirola on the Costa del Sol eight days ago, were key figures in the Glasgow-based Lyons crime gang. Scottish Conservative and Unionist Party MSP and former crime journalist Russell Findlay yesterday told the Sunday World a major concern for Stephen Lyons at this moment is whether the Kinahans may have, in fact, sanctioned the hit. The scene at Monaghan's pub in Fuengirola on the Costa del Sol where Eddie Lyons Jnr and Ross Monaghan were gunned down . 'We already know the Kinahans' involvement in the Scottish drug trade is significant,' he said. 'Their connections with the Lyons have fuelled gangland violence in Scotland and escalated it over the years. 'In the paranoid world of organised crime, there is a lot of smoke and mirrors, a lot of speculation, but what I suppose this boils down to, is either the Kinahans have had a hand in these murders due to some unknown internal fallout or they have seen two of their allies gunned down in cold blood. 'If it is the latter, then the expectation would be there will be some kind of retribution. 'If I was in Stephen Lyons' shoes, living my luxury air-conditioned lifestyle in Dubai, I would be seeking a meeting with the Kinahans at the earliest possible opportunity to work out who has been responsible for this. Gangsters Eddie Lyons Jnr 'But the real fear now is this will only fuel gangland violence, not just in Spain, but also in the streets of Scotland.' In the immediate aftermath of the double assassination at Monaghan's bar, speculation immediately connected the killings to a feud between the Lyons and the rival Daniel gang in Scotland. An escalation in that feud has resulted in assaults, shootings and fire-bombings across Glasgow and Edinburgh in recent months. Cartel boss Daniel Kinahan Today's News in 90 Seconds - 08 June 2025 However, a Lyons family member subsequently discounted this theory, while a statement by Police Scotland said there is 'nothing to suggest that the shooting in Fuengirola was planned from within Scotland'. Spanish police are instead understood to be focussed on the likelihood the murders are linked to wider gangland tensions – and are making inquiries to determine what if any stance the Kinahans had taken on the killings. Ross Monaghan Lyons (46), and Monaghan (43) died when a gunman opened fire on them in the Fuengirola bar – where the pair had watched the Champions League final, at about 11pm on the night of the killings. The gunman then fled the scene in a car. Sources say the Daniel gang had shied away from making any moves against the Lyons in Spain due to their connections with the Kinahan mob and believe it unlikely their attitude would have changed sufficiently for involvement in the double killing likely. Outlining the background to the Kinahan's alliance with the Lyons and the effect this had on their feud with the Daniel gang, our source referred to a triple shooting in Scotland that occurred at an MOT station in the Lambhill area of the city in 2006. In that shooting, Stephen Lyons was badly wounded, as was his associate Robert Pickett, while Stephen's cousin Michael Lyons was shot dead. A source said: 'Going way back, there was a triple shooting in Glasgow at an MOT station, Stephen was shot, his cousin Michael was murdered, and a third man Pickett was shot. 'That resulted in Stephen fleeing to Spain. And it was that, fleeing to Spain, that was either the catalyst for the Kinahan connection being made or that made it bigger than it had already been. Russell Findlay 'At that point, some Daniel gang-related associate was in the Costa del Sol and ascertained the Lyons were close to the Kinahans and took the view that they could not make a move on them in Spain. 'They could not make a move against Stephen in Spain. 'So, if the Daniel gang took the view that was too big a move or that the backlash would be too big back then, it would be consistent with them not having the wherewithal to do it now.' The source said Stephen Lyons is the only member remaining out of the youth gang from which he, Michael and Eddie Jnr emerged. 'The rest are either dead or in prison,' he said. Asked if Stephen Lyons has anything to fear from his long-term allies, the Kinahans, the source responded: 'These people have absolutely no qualms about putting a knife between the shoulder blades of their best friends if it suits them. 'There's no loyalty and there's a paranoia that envelopes everything they do. So, it would be premature to assume the Kinahans are on a war footing over this to avenge the Lyons murders when for all we know they could have been responsible for it.' In their statement released on Tuesday, Police Scotland said they were not directly investigating the double murder. Instead they said: 'The investigation into the fatal shootings in Fuengirola is being carried out by Spanish police,' it said. 'Police Scotland is supporting Spanish police where requested; however at this time we have no officers deployed within Spain. 'There is currently no intelligence to suggest the deaths of these two men in Spain are linked to the recent criminal attacks in Scotland being investigated as part of Operation Portaledge. 'Any misinformation or speculation linking the events in Spain are not helpful to the ongoing investigations in either country. '
Irish Examiner
3 hours ago
- Irish Examiner
Overly bureaucratic policies to encourage entrepreneurship need to be reviewed
US president Trump's tariffs merry-go-round continues to dominate global headlines. Firms are weary of the oscillation between 'tariffs-on' and 'tariffs-off' — but this pattern shows no sign of abating. It's a truism at this stage, but uncertainty has become the new normal. Understandably, there is concern among Irish policymakers, and indeed the general public, as to what the new economic dispensation will mean for Ireland's FDI-led economic model. FDI companies operating in Ireland deeply value their presence here and the contribution this has made to their business. Many companies have invested heavily in Ireland and dismantling investment of this nature and locating it somewhere else is not easily done, even if firms were minded to do so. And though we don't detect any appetite of this nature in the market there is an issue, however, in relation to further growth of Ireland's stock of FDI in future. The continuing uncertainty is having an impact on firms' investment decisions as they look to incorporate a 'wait-and-see' approach. In this context, it is important to look at Ireland's capability to continue to deliver economic and employment growth in a (still hypothetical) world where the level of FDI is lower than it has been. The health and prosperity of our homegrown businesses will be vitally important in this scenario. Ireland has a track record of generating world-beating businesses, but the reality is the current policy environment is not calibrated to achieve our full potential in this area. Successive governments have sought to introduce various policies to foster more entrepreneurship. Adjustments are made year-to-year across budgets, but the day-to-day reality has been that the design of some of these schemes is not suitable to achieve the desired ends. Tax practitioners like myself and my colleagues are seeing this on a regular basis as we seek to help clients utilise these schemes. KEEP scheme Take the KEEP scheme for example. This is designed to enable companies to grant share options to employees on a tax-efficient basis, essentially so the share is taxed within the capital gains bracket rather than the income tax bracket. Granting share options to employees is a good way of supplementing their remuneration in an environment where large firms with deep pockets are competing for the same talent. The issue with KEEP, unfortunately, is it is not working in practice; take-up is extremely low. What we see in our practice is that firms will tend to opt for so-called 'unapproved' share schemes rather than KEEP, even though the unapproved schemes are taxed more heavily from the perspective of the employee. Why are they doing this? The biggest reason we can see is the limit that attaches to the total value of share options that can be issued to an individual employee (€300,000). There is also a limit of €6m on the total amount of share options that can be issued (across all employees) and unexercised at any point in time. These limits restrict firms' ability to offer really competitive packages across their companies. Instead, they are opting for unapproved schemes that mean employees can be offered a higher value of share options, albeit in a less tax-efficient manner. The UK equivalent of KEEP, which has much less red tape attached, works much better, and the Government should look to draw lessons from it. Angel investor scheme On March 1, the Government commenced the new angel investor relief scheme which aims to incentivise investment in startups by reducing capital gains tax to 16%-18% on the sale by angel investors of these investments. It is early days, but we are not optimistic for take-up. Again, there is a lot of administration work involved for the small firms that are the targeted beneficiaries. They need to hold two certificates, showing they are an innovative company that is a going concern, and obtaining these involves an application process which many companies would need to undertake. In addition, investment by family members, a common source of funding for early-stage companies, has restrictions attached. Taken together, we believe these will serve as a significant brake on uptake of this scheme. A relaxation of the restrictions on family members and a self-declaration process allowing firms to obtain the qualifying certificates would be preferable. Another way to increase take-up would be to allow the relief to apply where investment is directed towards follow-on or expansion funding, rather than simply angel investment. The above are two examples of how Ireland's policy regime could be enhanced to encourage more entrepreneurship. There are others, including changes to the oft-criticised entrepreneur's relief scheme. We know we have a fantastic, knowledgeable, skilled and talented workforce. We are lucky to have it. But at a time like now, when the outlook for growth in FDI is hazy, it's important that we consider how to drive homegrown businesses forward. In this regard, a wholesale government review of policies towards entrepreneurship is warranted. Brendan Murphy is a tax partner at Baker Tilly Ireland
The Irish Sun
3 hours ago
- The Irish Sun
The ‘elegant' seaside mansion with movie room, gym & sauna on Irish market for €4.85m – and it's minutes from Dublin
TAKE a look at the impressive seaside mansion that has entered the Irish market for a whopping €4,850,000. Located in the heart of Howth Village, Co Dublin, the five-bedroom pad is one of the most "elegant, refined accommodations" in the area. Advertisement 7 The gorgeous mansion has entered the Irish market for €4,850,000 Credit: 7 The living room is gorgeous Credit: 7 It comes with two offices Credit: The Howth Village offers a vast range of amenities and facilities, including supermarkets, local shops, restaurants, bars, cafes, childcare facilities, And it is near a prime location for excellent schools, providing top-quality education to children. There are buses and Dublin city centre. Advertisement READ MORE ON PROPERTY Dublin Airport is just a 25-minute drive from the property, meaning you can be back home in bed in no time after collecting your bags. The luxury property features secluded grounds and electronically controlled entrance gates, providing extra privacy and security for the owners. Driving up to the property provides a quiet and serene setting on the coast, including the harbour. Entering the magnificent property, you are greeted by a spacious and bright hallway with access to the living room, the kitchen/dining room, the bathroom and the stairwell access to the ground floor and second floor. Advertisement Most read in Money The living room features gorgeous wooden flooring, a curved and tiled fireplace with a gas fire and TV, two large windows overlooking the view of the harbour, Ireland's Eye and Lambay. The open-plan kitchen comes with built-in green units, marble countertops and walls, integrated appliances, an island with a breakfast bar, a wine cooler and a walk-in pantry. Iconic Grand Designs 'perfect' house which couple spent 20 years 'painstakingly' renovating hits market for £1.5million The dining area has a long wooden table that seats up to ten people and enjoys a southerly aspect and views toward the green hills of Howth. The first floor consists of a master suite and two primary suites, while the two remaining primary suites are on the ground floor. Advertisement The master suite comes with a spacious master bedroom, a living area, a fully tiled ensuite bathroom with a bathtub and rainfall shower, and a dressing room with two walk-in wardrobes. The primary suites come with a spacious bedroom, a fully tiled ensuite bathroom with a rainfall shower, a dressing room and space for a desk or storage units. One of the primary suites comes with a study, a perfect room for working at home. FABULOUS FACILITIES The ground floor consists of an office, a home cinema, a gym, a sauna, a wine storage room, a plant room and an outdoor spa. Advertisement The office is positioned facing the sea, making it impossible not to work with breathtaking views, but it will provide an unreal backdrop for Zoom video calls. The home cinema features two raised tiers of seating and hand-selected leather sofa chairs, providing enough room for the whole family or a small birthday party, complete with a high definition projector mounted on the ceiling. The gym is at the centre of the wellness centre/spa on the ground floor, accommodating a full set of exercise equipment and a selection of free weights for the whole family to enjoy. And the Norwegian sauna is right beside the gym and outside is the 'Brass Monkey' ice bath, the stainless-steel hot tub and a large outdoor shower, all dotted around the multi-level deck. Advertisement A full-grown Bonsai Tree adds to the privacy and serenity, along with the indirect lighting, which allows for this spa to be used any time of the day or any day of the year. The mansion can also park up to five cars, making it ideal for motor lovers. 7 The suites are stunning Credit: 7 The wine storage room Credit: Advertisement 7 The home cinema is perfect for movie nights Credit: 7 It has an ice bath and sauna Credit:
