As 2026 draws to a close, there are several tax deadlines and reliefs worth reviewing. For business owners and individuals, taking action before 31 December could help avoid missed claims or unexpected tax liabilities.
In this article, we look at:
- Which reliefs are worth reviewing before 31 December?
- What Capital Gains Tax payments are due in December?
- What is changing for business investment reliefs?
- What this means for your business
Which reliefs are worth reviewing before 31 December?
Small Benefit Exemption for employees
Employers can provide up to five qualifying non-cash benefits per employee in a calendar year, with a combined tax-free limit of €1,500. Only the first five benefits in the year qualify, and benefits cannot be cash or part of a salary sacrifice. Unused allowance cannot be carried forward to 2027. If a single benefit exceeds €1,500, the full value of that benefit is taxable, rather than just the excess.
Employers must also report the date and value of each qualifying benefit to Revenue on or before it is provided. If you intend to reward employees before 31 December, check the value, eligibility and reporting arrangements in advance.
Unclaimed 2022 Income Tax refunds
The four-year rule means 31 December 2026 is the last date to claim an Income Tax refund for 2022. After that date, a refund for that year cannot be paid. It is worth checking whether any 2022 tax credits, reliefs or overpayments remain unclaimed. These could include the 2022 Rent Tax Credit, which was introduced that year, medical expenses or remote working relief.
Small Gift Exemption
An individual can receive gifts of up to €3,000 from each donor in a calendar year without Capital Acquisitions Tax. This annual exemption does not carry forward, applies only to gifts and not inheritances, and does not use up the recipient’s lifetime tax-free threshold. For gifts and inheritances taken on or after 7 October 2026, the Group A threshold increased from €400,000 to €420,000, Group B from €40,000 to €44,000, and Group C from €20,000 to €22,000. It may be relevant to business owners considering gifts to family members as part of wider personal or succession planning.
Corporation tax preliminary tax
For companies with a December accounting year end, the November preliminary corporation tax instalment falls due on 23 November 2026. From 2027, the small-company “relevant limit” rises from €200,000 to €350,000.
What Capital Gains Tax payments are due in December?
Capital Gains Tax (CGT) on disposals made between 1 January and 30 November 2026 is generally payable by 15 December 2026. The standard CGT rate is 33% for disposals from 1 January to 6 October 2026 and 31% for disposals on or after 7 October 2026. The reduction does not apply to disposals of development land. For disposals in December, payment is due by 31 January 2027. The return for 2026 disposals is generally due by 31 October 2027.
If you sold or transferred an asset during 2026, check the disposal date and whether any CGT payment is due. The payment deadline can arrive well before the return is filed.
What is changing for business investment reliefs?
Four business investment reliefs were scheduled to expire on 31 December 2026: the Employment Investment Incentive, Start-Up Capital Incentive, Start-Up Relief for Entrepreneurs and Angel Investor Relief.
Budget 2027 proposed extending them. The extension has been agreed in committee and is expected to become law before the end of the year, which would keep the reliefs available until 30 June 2027. The Government has said it intends to extend them to the end of 2027 once new EU rules take effect.
Until the legislation is passed, anyone planning an investment should confirm the position first.
What this means for your business
Not every tax obligation has the same deadline. Some require action in 2026, while others depend on legislation or can be addressed in 2027. Before the year ends:
- Review any unused Small Benefit Exemption and make sure reporting requirements are met.
- Check for outstanding 2022 Income Tax refund claims.
- Review any gifts you intend to make this year.
- Confirm whether CGT is payable by 15 December for disposals made up to 30 November.
- If you are considering an investment, check the final position on the proposed relief extensions.
Tax advice and planning for Irish businesses
ECOVIS Ireland advises business owners and directors on tax planning alongside their company affairs, including employee benefits, investment decisions and succession planning.
If you would like to review your position before 31 December, speak to our team.
+353 1 823 0000 · info@ecovis.ie · www.ecovisireland.com
Sources
Revenue – Small Benefit Exemption
Revenue – Enhanced reporting requirements
Revenue – Small Gift Exemption
