Dominic Coyle

Dominic Coyle

Deputy Business Editor

Dominic Coyle is Deputy Business Editor at The Irish Times

Real wages, allowing for the impact of inflation, fell in Ireland in 2021 but tax on that income increased, according to a new report from the OECD. Photograph: iStock
Inflation and higher taxes hit real wages in Ireland - OECD

Report says that taxes on labour still rank favourably against other developed economies

The Money Advice and Budgeting Service is an excellent service, funded by the Department of Social Protection and designed to help ordinary people find solutions to debt problems. Photograph: iStock
Retired couple fret over looming loan repayment

Q&A: People in debt trouble should get in touch with State-funded Mabs support service

The pensions industry is divided on the likely impact of auto-enrolment on the wider pensions market
Financial advisers believe deadline for auto-enrolment pensions plan will not be met

The Government scheme is for workers who do not have any private retirement income cover

Ireland’s infant milk formula industry is assessing the impact of US president Joe Biden’s dramatic intervention in the US milk formula crisis Photograph: Kayana Szymczak/The New York Times
Irish milk formula industry weighs Biden’s emergency supplies call

US president invokes wartime measures to secure supplies as parents fret over feeding their children

Ulster Bank and KBC are set to leave the Irish market, leaving thousands of customers looking for an alternative current account. Photograph: Alan Betson / The Irish Times FILE PHOTOGRAPHS
Energy groups snub bank switch hearing; rent control woes; and Wall St takes a hammering

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

A Johnny Ronan-led consortium will lodge plans in the coming days for 516 apartments at the former Irish Glass Bottle site. Photograph: Bryan O’Brien / THE IRISH TIMES
Banks on notice; mortgage rate rises loom; and Johnny Ronan’s Glass Bottle site plan

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

Pharmacists say long hours in a high-stress environment with no breaks is driving them from well-paid community pharmacy jobs. Photograph: PA Wire
Pharmacists say workload is driving people from profession

Community pharmacists tell of long hours, no breaks and being asked to forgo annual leave as pandemic increases pressure

Good Samaritan gets a fright with Revenue’s letter

Q&A: Letting your nephew stay rent free in the property may have tax implications for him

Rising cost of living issues failed to dampen Irish property prices, which were 15.2 per cent higher in March than a year earlier. Photograph: Victoria Jones/PA Wire
Property prices defy cost-of-living squeeze to rise 15.2%

Prices rising much faster outside of Dublin but new homes just 6.2% up on last year

Our mother is looking to give our brother a right of residence in her home for his lifetime after her death. Photograph: iStock
How does my brother assess tax on a right of residence?

Q&A: Tax implications for both your brother and for those who will eventually inherit the property

Pharmacies across the State face closure because they cannot recruit qualified pharmacists, according to their industry body. Photograph: PA Wire
Pharmacies face closure because of shortage of qualified staff , IPU says

Industry calls for more third-level places and reduction of needless paperwork

Horizon Therapeutics founder, chief executive and chairman Tim Walbert at Mount Juliet, which will host the first of six Irish Open golf tournaments being sponsored by the rare-disease drug specialist. Photograph: Oisín Keniry
Irish Open golf sponsorship a calling card for careers in curing rare diseases

Interview: Horizon Therapeutics chief Tim Walbert sees Dublin at heart of its international expansion

Ashley Maddox feeds her five-month-old son, Cole, with formula she bought through a Facebook group of mothers in need in California. Photograph: Gregory Bull/AP Photo
Cavan plant faces months on call to produce emergency US infant formula supplies

Abbott does not expect to get US stores fully stocked from shuttered plant until late July

An Oireachtas committee was examining the issue of waiving intellectual property rights to Covid-19 vaccines. Photograph: Frederic Brown/AFP via Getty Images
Vaccine activists accuse Big Pharma of relying on public money

Waiving patent rights may have chilling effect on medicine development, industry warns

Representatives of the pharmaceutical industry say there are more than enough vaccines in the world, but they are not getting to the people who need them fast enough. Photograph: Jagadeesh NV/EPA
Covid-19: Vaccine industry and activists at odds over Trips waiver

Industry says waiver of IP rights not needed as vaccine supply far outweighs demand

Abbott is turning to Cavan to provide baby formula supplies after a product recall and plant shutdown in the US. Photograph: Getty Images/iStockphoto
US turns to Cootehill for emergency supplies of infant formula

Abbott flying milk powder to US daily from Ireland after product recall and FDA inquiry

McCanns’ 16% debt discount; beer industry falls flat; and banks avoid major losses

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

Share options are increasingly a part of companies’ remuneration packages as they look to attract talent in an ever-tighter recruitment market. Photograph: iStock
What tax must I pay on share options from employer?

Q&A: The thing to remember is that the employee is responsible for filing the return and making the payment

Horizon Therapeutics chief executive Tim Walbert (right) at the opening of the company’s new global corporate headquarters with IDA Ireland chief executive Martin Shanahan and Taoiseach Micheál Martin. Photograph: Fennells
Horizon announces 100 jobs as it opens new global headquarters

Rare disease specialist looking to add jobs at corporate level and at new manufacturing site

Electric Picnic made a profit of €2.4 million even though the festival didn’t happen in 2020, as a result of an insurance payout. Photograph: Niall Carson /PA Wire
Euro Auctions back to business; Electric Picnic profits from absence; and fears up North

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

An industry report that examined official Irish figures alongside those for 14 other EU states found the State spends slightly less of its overall health budget on medicines than the EU average. Photograph: PA
Ireland’s medicines budget falls as percentage of healthcare spending

State spent 13.4% of €19bn budget on medicine, pharmacies and wholesaling in 2021

If you give more than €250 a year to a charity, it can normally claim significant tax relief on your donation. Photograph: iStock
Giving to charity: making your money go farther

Q&A: charities can get 31% tax relief on almost anything you give over €250 a year

Thomas Wozniewski: Ireland is a ‘good place to access talent’ and has a ‘very open environment for innovation’. Photograph: Conor McCabe Photography
Takeda stem cell facility puts Irish pharma at cutting edge of modern medicine

Interview: Thomas Wozniewski, head of global manufacturing and supply at Takeda

Takeda Grange Castle site head Paul Keogh, left, with the group’s head of global manufacturing and supply, Thomas Wozniewski
Takeda opens Ireland’s first stem cell manufacturing plant

Grange Castle site will supply Crohn’s therapy to patients in Europe, the US and Canada

With Fair Deal, where you take out a nursing home loan, you pay it in line with its terms and conditions
Tax implications of paying off Fair Deal debt and later selling inherited house

Q&A: Fair Deal is a great scheme but it does come with certain responsibilities

The Health Products Regulatory Authority says it will be mid-July before all HRT products are available again. Photograph: iStock
Pricing is major factor in Ireland's HRT shortage, drug chief says

Supply problems always relate to the low-cost market, says head of drug manufacturer

Many so-called zombie companies, that survived the pandemic on Government supports, will fail as the funding is removed, according to law firm McCann Fitzgerald. Photograph: iStock
Ireland needs to tackle ‘zombie’ companies, says leading law firm

‘Awful lot of businesses with a broken balance sheets,’ says McCann Fitzgerald

Barry Connolly: Spotted space in the market for a ‘better for you’ impulse-purchase nutrition bar
Barry Connolly: poised to fulfill global promise of nutrition bar business

Entrepreneur has sold his company Fulfil Nutrition to Ferrero for a reported €160m

Personal arrangements are precisely that. They have no force of law. Photograph: iStock
Will informal separation mean husband still owns part of our home?

Q&A: Banks will not agree to removal of mortgage holder’s name without repayment or court order

Several pharmacies around the State said supplies of paracetamol had been restricted but that, to date, they had not run out. Photograph: Alan Betson
Paracetamol supplies to Irish pharmacies experiencing shortages

Squeeze on supplies of painkiller comes amid controversy over absence of HRT supplies

Glenveagh chief executive Stephen Garvey: ‘The group remains on track to deliver our 1,400 suburban home target for 2022.’ Photograph: Damien Eagers
Glenveagh on course to deliver 1,400 homes this year

Business sees easing of labour pressures and house price growth offsetting pressure on costs

Pharmacists have been restricting purchases to one month’s supply of HRT in an effort to manage the crisis. Photograph: iStock
Women on HRT face disruption in supply until at least July

Drug companies scrambling to meet surging demand for patches and gels

More than one million accounts are looking for new homes. These include personal current accounts, savings accounts and company accounts. Photograph: iStock
Central Bank warns banks to do more to help customers move accounts

Regulator summons bank chiefs to meeting over KBC and Ulster Bank account transfers

Francesca McDonagh, chief executive of Bank of Ireland, is to leave the role later this year. Photograph: Dara Mac Dónaill
McDonagh departing BofI; EU warns Musk; and Jay Bourke is bankrupt

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

Fulfil Nutrition. Photograph: Aidan Crawley
Fulfil Nutrition proves a sweet deal for Italian chocolate giant Ferrero

Multimillion-euro deal is vindication for growth strategy of founder Barry Connolly

Holiday homes can be wonderful respite but make sure you plan properly or they could prove a major headache for family after you die. Photograph: iStock
One will or two? Dealing with foreign property

Q&A: Lack of proper planning can frustrate your intentions and leave your assets in limbo

Amryt chief executive Dr Joe Wiley said the backing of the EMA committee was ‘the most significant milestone’
Irish pharma firm Amryt nears approval for butterfly skin treatment

EMA has 67 days to decide whether to back recommendation of its expert committee

A person holds a smartphone as Tik Tok logo is displayed behind. Photograph: Dado Ruvic/Reuters
Executive pay booms; social housing fails to deliver; and TikTok withdraws a job offer

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

Overgrown: Property owners are expected to monitor their perimeters and make sure that the integrity of their property is maintained. Photograph: Getty
Neighbour’s brick shed comes on to my mother’s garden, what can I do?

Q&A: Squatter’s rights are difficult to prove but, once established, impossible to overcome

‘With timber, you have a building material that stores carbon rather than emits it. Carbon is locked away in the fabric of the building. It’s a virtuous circle,’ says Forestry Industry Ireland’s Mark McAuley.
Timber use in building can help hit housing and climate goals, forum hears

State urged to target big industry emitters if it wants to meet 2030 climate change targets

You want to approach the bank, with an offer to switch your €100,000 tracker loan to a variable rate loan, as long as they reduce the balance by €30,000
Will my bank do a deal on tracker mortgage if I switch to a variable rate loan?

Q&A: You’re unlikely to persuade lender to write €30,000 off your home loan unless they fear a bigger hit

Minister for Finance Paschal Donohoe following a cabinet meeting at Dublin Castle, Dublin. Gareth Chaney/ Collins Photos
War hits economic prospects; TikTok sings up Eurovision; and the future of wind energy

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

KBC signals exodus; Varadkar’s trade strategy; and two landmark HQ deals

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

Thomas McGrath of Cognition World with the Connect360 device that promises to help companies be more energy-efficient.
Cognition World portal helps firms track energy use and cut costs

Energia Connect360 device enables real-time monitoring of energy efficiency via sensors

Electricity providers are simply battling to cope with hugely volatile markets where prices are moving wildly and mostly upwards. Photograph: Peter Byrne/PA Wire
Are energy companies ‘profiteering’ on State’s €200 subsidy?

Q&A: Switching providers will not affect you getting the discount you’re entitled to

YourPro says the Irish market for home improvement, urgent repairs and renovation is estimated to be worth €3.2bn annually. Photograph: iStock
YourPro enters Irish online tradespeople market

Online platform matches tradespeople with consumers in their local area

The Irish Pharmaceutical Healthcare Association said a new supply and pricing agreement signed by the State last December should mean new medicines becoming available to patients faster through an improved funding framework
Ireland slow to approve cancer medicines for patient use

Just half of 41 cancer drugs approved from 2017-2020 were available here at end of 2021

You can pursue those family members who are executors over failure to reasonably carry out their duties, which has seen your parents’ house left empty and unnsold. Photograph: iStock
Waiting for inheritance since parents died almost 20 years ago

Q&A: Executors can be challenged over failure to do their job but it does involve the high court

Gilead CEO Daniel O’Day: ‘He has set a target for Gilead to deliver at least 30 per cent of its sales from cancer drugs by 2030.’
Putting Ireland at the forefront of medicine development for children

Interview: Gilead's Daniel O'Day on new medicines, winning the Covid battle and the search for cancer cures

Cairn Homes closed on €1.224, down 1.6%, while rival Glenveagh was 1.5% weaker at €1.172. File photograph: Bloomberg
Clarity from the Fed helps markets stabilise after bout of nerves

Defensive stocks fare best as European markets struggle to advance

The site for Greystones Media Campus, which will be Ireland’s largest studio complex.
US owner of Ardmore to develop film and TV campus in Greystones

Project will double Ireland’s studio capacity and lead to 1,500 new jobs when finished

Photograph: iStock
Central Bank blues; Lowry joins Wayflyer; and billionaires’ fortunes grow

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

US pharma giant Gilead Sciences has formally opened a centre of excellence in Dublin focusing on the development of medicines for children. Photograph: Stephen Lam/Reuters
US drug giant Gilead opens child medicine centre of excellence in Dublin

Docklands site will run clinical trials for paediatric versions of current and future drugs

It’s sad, but true, that some people who have put their lives on hold to care for family or loved ones lose out when they eventually die
Caring for my mum has left me in limbo

Q&A: As your mum did not leave a will, it leaves you in a very difficult position

The Government is looking to ensure every worker has a retirement income over and above the State pension. Photograph: iStock
Pension auto-enrolment: what will it mean for me?

Up to 750,000 workers will be signed up for compulsory pension savings scheme

More than half of Irish workers are failing to claim reliefs they are entitled to on their taxes. Photograph: iStock
Most workers failing to claim tax refunds, survey finds

Average refund of €1,250 secured for workers in Taxback.com employee initiative

It does not matter whether the charity is the sole beneficiary of a will or a beneficiary alongside other people, such as your children. Either way, they benefit from tax exempt status.
Charitable giving can maximise the tax efficiency of your will

Q&A: As long as chosen charity is recognised by Revenue, anything left to them in a will is free of tax

Guinness Storehouse, St James’s Gate, Dublin. Photograph: Tim Clayton/Getty Images
Tourism chiefs fear US Covid rules; wave of insolvencies looms; and green energy conundrum

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

Business advisory group PwC expects a restructuring wave to hit Ireland with an increased level of insolvencies in the later part of this year and 2023. Photograph: Thinkstock
Dramatic increase in insolvencies predicted by PwC

Current business failure rate at ‘artificial and record low’, business advisory group says

Russian president Vladimir Putin
Rouble row supply threat; €300m in unpaid taxes; and sacked solicitor faces former employer

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

Photograph: iStock
Rows over housing; compulsory pensions; and a tough week for aircraft lessors

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

Is a mortgage top-up or a personal loan best option for home improvement finance?

Q&A: What suits you best will depend on your financial circumstances and discipline

The wording of the will and the actions it requires will determine the stamp duty position
Selling a family home under a will and stamp duty

Q&A: The wording of the will determines how much tax will have to be paid

The division of assets under succession law is very clear in Ireland: Once a person has been legally adopted, they have no claim on the assets of their birth parents under intestacy or under any general provision in a birth parent’s will
Can adopted son claim share of birth mother’s farm?

Q&A: Law is very clear on who can and cannot demand share of inheritance

‘My parents have offered to buy a one-third share of the house. That way I can pay off my debt but can keep the appreciating asset and make some income on money sitting in their bank.’
Does selling a share of former home to my family create problems?

Q&A: Move will allow owner pay off mortgage debt and continue to enjoy return on property

At least 60 of the employees sacked by P&O Ferries on Thursday are from Ireland, their trade union has stated
P&O’s Irish victims; €900m deal in peril; Winklevoss brothers get Irish licence

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

Is it possible if he insists on us drawing up the wills at the same office, I could change it elsewhere myself? Photograph: iStock
My husband wants to pool our assets. Must I do so?

Q&A: Second families can create additional tension when it comes to inheritance

Selling the foreign property may raise other tax issues in that country. Photograph: iStock
Do I really need to take out probate after my husband’s death?

Q&A: Savings, a rented property, a home abroad – there’s a lot to consider

‘My dentist told me that I need a filling on a back tooth which would cost €100. I thought that I was entitled to two free fillings a year.’
Why am I having to pay for fillings that should be free for a pensioner?

Q&A: Dentists are leaving medical card system in droves, but such moves should be flagged

New rules mean people in nursing home care can now sell their homes without financial penalty under the Fair Deal scheme. Photograph: iStock
Selling my mother-in-law’s home now that she is in nursing home care

Q&A: Changes in Fair Deal rules should help end the blight of vacant homes

Swiss drugmaker Novartis has sold its Ringaskiddy plant to a British contract manufacturer of medicines. Photograph: Arnd Wiegmann/Reuters
Novartis sells Ringaskiddy site to contract manufacturer Sterling

Sale will ‘secure continued manufacturing of medicines and significant expertise’ at plant

Building started on more homes last year than before Covid hit but the figure still falls short of the number analysts say is needed to address the housing crisis over the medium to long term. Photograph: iStock
More homes being built; Bank back on form; and sanctions leave lessors in a flap

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

Who inherits, in what circumstances and order, is determined by the Succession Act, a piece of legislation dating back to 1965.
What happens when beneficiaries die before they have a chance to inherit?

Q&A: Rules of intestacy come into play in absence of clear instructions in wills

Property prices, especially in Amsterdam, seem relatively similar to Dublin. Photograph: Nicolas Economou/ NurPhoto via Getty Images
Will going Dutch cost me dearly when I buy a home in Ireland?

Q&A: Like Ireland, paying a mortgage in Netherlands is cheaper than renting the same property

Ukrainian clean up debris after a residential building was hit by missiles in the country’s capital of Kyiv. Photograph: Lynsey Addario/The New York Times
Russian bank clampdown; more tech jobs; and German interest in Irish wind power

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

Mostly ‘bed and breakfasting’ is used by people whose shares are rising in value to mitigate eventual capital gains tax. Photograph: Drew Angerer/Getty
Tread carefully in selling shares to lock in capital gains

Q&A: Bed and breakfasting of stocks can help reduce eventual tax bill

Neuromod founder and chief executive Dr Ross O’Neill, with the company’s tinnitus therapy, Lenire. Photograph: Julien Behal.
German study confirms efficacy of Irish tinnitus therapy

Neuromod welcomes independent real-world study confirming clinical trial data

You now have the ludicrous position where six people jointly own a property which is in none of their names. Illustration: iStock
Family haven’t bothered transferring dead parents’ house into their names

Q&A: Parents died without wills leaving six children with stake in family home

Ireland must process 10,000 work visas over the next nine months if businesses in the tourism sector are not to face closure, Excel Recruitment warns.
Work visa crisis may choke hospitality recovery, recruiter claims

Agency says firms face closure if State cannot deliver 10,000 visas over next nine months

We worry about mortgages but it remains true that it is the cheapest money you will ever borrow
Should I pay off mortgage before lender ups the interest rate?

Q&A: Mortgages are the cheapest money to borrow but clearing the debt can make sense

Given that your mother was on the State pension for up to 31 years, you can see how she might breach the savings threshold.
Can State come looking for State pension repayment after mother dies?

Q&A: Saving part of weekly subsistence payment can work against you over time

Cost of living package for all; Declan Kelly’s return; and rental demand surges

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

An executor needs to get a valuation for the purposes of probate and that valuation will also be taken by the Revenue Commissioners for the purposes of assessing any capital acquisitions tax
What happens when family can’t agree on value of inherited house?

Q&A: Resorting to law would be expensive and likely lead to sale of property

‘So many people either do not know of these refunds, or believe that the process of claiming them is simply too convoluted and time consuming.’ Photograph: iStock
Workers get €1,250 tax refund under workplace advice scheme

Taxback.com working with employers on ‘financial wellbeing’

The Revenue Commissioners will expect you to have kept receipts for any work done to enhance the value of the house if you intend to claim relief from capital gains. Photograph: iStock
What expenses can I claim against capital gains when I sell a property?

Q&A: Keeping receipts for major enhancement expenditure is important

Independent TD Denis Naughten said that there was some evidence, based on what had happened in other EU countries, that where people were forced to retire at 65 that it could have a detrimental impact on their health. Photograph: Dara Mac Dónaill
No guarantee raising pension age would breach deficit, says Naughten

Oireachtas committee chair defends report recommeding qualifying age remain at 66

The State Pension age should not rise beyond the age of 66, an Oireachtas committee has said.
State Pension age should remain at 66, Oireachtas committee recommends

TDs and Senators reject key findings of Pensions Commission report

How can I save for my children without getting on Revenue’s wrong side?

Q&A: Confusion on practicalities of opening bank accounts for kids

Trading currencies can be a volatile business; spread betting only increases that volatility risk. Photograph: iStock
Q&A: Gambling is a winner on taxes but losses can hit you hard

Spread-betting is a high-risk strategy – you need to be aware of the dangers

Skewing the gender gap; hot-desking beckons; and getting NY buses working

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

Eli Lilly is in talks about planning for an IDA Ireland site it is acquiring in Raheen Business Park. Photograph: Simone Baribeau/Bloomberg
US pharma giant Lilly plans 300 jobs in new Limerick plant

Company to invest €400m in manufacturing operation and will begin hiring immediately

Even for the group most likely to have a private pension – those aged 55-69 – more than one in four has no savings for their looming retirement
One in three Irish workers have no private pension coverage, report finds

Government delays introduction of auto-enrolment until end of next year

Post-Covid jobs boom; INM19 narrows to four; and Monkstown apartment plan

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

‘Many of these properties were rented out, often because the owners either needed to upsize for family reasons or because they relocated with their jobs.’ File photograph: Getty
Making sense of tax during last year of property ownership

Q&A: Relief allowed on capital gains but not on income tax

Many people who are waiting to join a pension auto-enrolment scheme and every year lost in building up savings will mean less to pay out in retirement
Is pension auto-enrolment happening at all?

Q&A: People are waiting to decide what they should do about pension savings

The basic rule on capital gains is that you pay tax on the difference between the purchase price and the sale price, in your case about €180,000
Reliefs can knock large sum off capital gains tax bill on selling property

Q&A: Gifting rented property to children will not provide a solution on tax grounds

The property in question requires extensive renovations as it has been unoccupied for 10 years.
Helping my son and his wife renovate their home?

How you allocate any money you are gifting can be important

Rising rents and surging house prices have triggered a “collapse” in home ownership rates among adults of prime working age
House price rises to ease; Clerys new retail look; and Ireland’s newest unicorn

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

Used car prices have jumped 56 per cent on average over the last two years, according to a report by online marketplace Donedeal.
Salaries to surge; mortgage lending record; and €500m return on property investment

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

What are the tax rules on bringing money back into Ireland?

Q&A: What rules apply when I inherit from abroad or sell a foreign property?

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