Many Irish parents and grandparents are looking for a simple, tax-efficient way to build a nest egg for a child, whether that’s a future house deposit, to provide for education costs or just to give them a head start in life.
A bare trust is a structure used for this in Ireland, valued for the tax reliefs built into it. This guide explains:
Keep reading to learn more.
A bare trust, also known as a simple trust or naked trust, is a trust arrangement recognised under Irish law. A trustee, typically a parent or grandparent, holds and manages assets purely on behalf of a named beneficiary, usually a child or grandchild.
Unlike a discretionary trust, the trustee has no say over who benefits or by how much; those terms are fixed from the moment the trust is set up.
Key features of a bare trust:
Setting up a bare trust is straightforward, but a few key steps need careful attention.
A financial adviser or solicitor can help to draft the trust and make sure it’s structured correctly from the outset. Our financial planning team regularly helps families choose the right structure, contribution pattern and documentation for their circumstances. As part of this, you must:
Because a bare trust is usually created as an express trust in writing, trustees should also check whether it needs to be registered on the Central Register of Beneficial Ownership of Trusts (CRBOT), which applies to relevant trusts where the trustees are resident in Ireland or the trust is administered here. Your adviser or solicitor can talk you through the registration process and what’s required when the trust is being set up.
Many families pair a bare trust with a long-term investment product, such as a life assurance investment bond or account, held in trust for the child. Regular contributions can be arranged to run alongside the trust, and the investment strategy should reflect the time horizon left until the beneficiary’s 18th birthday.
Understanding the tax treatment of a bare trust is key to getting the most out of it. The Irish tax system offers several reliefs that make this structure particularly attractive for family wealth planning.
One of the main reasons families use a bare trust is the Small Gift Exemption. This allows an individual to receive gifts worth up to €3,000 in a calendar year, completely free of Capital Acquisitions Tax (CAT), from any one person. Because the exemption applies per giver rather than per family, a child with two parents, and grandparents, all contributing, can build up a meaningful, entirely tax-free fund over time.
Important! The Small Gift Exemption applies per giver and per recipient. This means that while you can’t give €6,000 to one child tax-free in a single year, you can give €3,000 to one child and another €3,000 to their sibling.
Example: what small, regular gifts can add up to
If both parents each gift the maximum €3,000 a year into a bare trust for a child, that’s €6,000 a year between them. Kept up consistently for 10 years, that’s €60,000 paid in, entirely free of CAT, before any interest or investment growth is added on top. If grandparents also contribute within their own separate €3,000 annual allowance, the fund can grow considerably faster again.
For many families, a sum like this, built up quietly over a decade, is enough to form a meaningful part of a house deposit, for example, by the time the child turns 18 and takes control of the assets. These figures are illustrative only and don’t account for charges, investment performance or changes to the exemption over time.
The CAT system operates on a tiered structure based on the relationship between the person giving the gift and the person receiving it. The current thresholds have applied since 2 October 2024 and were left unchanged in Budget 2026:
Any gift or inheritance above these thresholds is taxed at 33% on the amount over the threshold. Thresholds are cumulative, meaning they take into account all gifts and inheritances received from the same group since 5 December 1991.
*The Capital Acquisitions Tax (CAT) thresholds mentioned are not an exhaustive list and are subject to change. For the most up-to-date and comprehensive information, we recommend visiting the Revenue Commissioners website: www.revenue.ie.
Bare trusts can serve a number of purposes in family financial planning:
Bare trusts are commonly used to build a fund for future education costs, whether that’s secondary school fees, a college fund or study abroad. Because contributions can start when a child is very young, even modest, regular gifts have years to grow before they’re needed.
For a closer look at the true cost of education in Ireland and other ways to prepare, see our guide to saving for education in Ireland.
A bare trust can also be used to accumulate funds for a future property deposit. As the Small Gift Exemption example above shows, consistent contributions from parents and grandparents can add up to a significant, structured sum well before the beneficiary turns 18.
Bare trusts can facilitate a smoother, more tax-efficient transfer of wealth between generations, and reduce a future inheritance tax bill for the beneficiary. They work well as part of a wider estate plan, allowing you to pass on wealth during your lifetime rather than relying solely on your will.
Before setting up a bare trust, it’s worth weighing up these points:
*Always consult a qualified professional for personalised tax advice.
Getting the most from a bare trust requires a bit of planning.
In a bare trust, the beneficiary’s entitlement is fixed from the outset and the trustee has no say over who benefits or by how much. In a discretionary trust, the trustees have some discretion over how and when assets are distributed among a group of potential beneficiaries.
Parents and grandparents most commonly set up bare trusts, but any adult can act as a trustee or contribute to one. Multiple people, such as both parents and both sets of grandparents, can each make use of their own €3,000 Small Gift Exemption into the same child’s trust, though this may mean setting up more than one trust, since gifts from different contributors don’t always sit within a single trust structure.
Bare trusts are usually created as express trusts in writing and will need to be registered on the Central Register of Beneficial Ownership of Trusts where the trustees are resident in Ireland or the trust is administered here. Your adviser or solicitor can talk you through the registration process when the trust is set up.
Under the Age of Majority Act 1985, the beneficiary automatically becomes entitled to take full, unconditional control of the trust assets once they turn 18. The trustee cannot delay or restrict this.
The trust itself isn’t a separate taxpayer for CAT purposes; gifts into it are assessed against the beneficiary’s own CAT group threshold in the usual way, with the Small Gift Exemption reducing the taxable value each year. Any investment growth within the trust may also be subject to tax, depending on the product used, so it’s worth checking this with your adviser.
At Fairstone, we specialise in helping families navigate the complexities of bare trusts while maximising their benefits. Our expert wealth management advisers can help you design an appropriate trust structure, choose a suitable investment strategy, keep things tax-efficient* and plan for long-term success.
Whether you’re looking to secure your children’s financial future, plan for education costs or build a structured wealth transfer strategy, our team can guide you through setting up and managing a bare trust that suits your family’s needs. To find out more, book a no-obligation financial planning consultation today.
*Always consult a qualified professional for personalised tax advice.
Sources:
Disclaimer
This article is for general information purposes and is not an invitation to deal or address your specific requirements. Any expressions of opinions are subject to change without notice. The information disclosed should not be relied upon in their entirety and shall not be deemed to be, or constitute, advice. Although endeavours have been made to provide accurate and timely information of the various source material, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future
For most employees, redundancy is relatively straightforward: if you meet the criteria, you’re entitled to a payment. For directors, it is not always so clear cut.
A director can hold two relationships with a company at once: as an employee doing a job, and as an officeholder with legal duties that do not simply end when a role becomes redundant. That raises real questions: are you actually entitled to redundancy pay, what happens to your legal obligations, and what should you do next?
Here, Fairstone explains where directors stand on redundancy in Ireland, and the practical steps to take if it happens to you.
The starting point is straightforward: entitlement to statutory redundancy comes down to whether a director is legally an employee of the company, not simply whether they hold the title of director. Many directors, particularly those running the day-to-day business alongside a board role, have a contract of employment and are paid through PAYE.
Provided they also meet the general eligibility rules – at least 104 weeks (two years) of continuous service, being under State pension age, and losing their role for a genuine business reason under the Redundancy Payments Acts 1967 to 2014 – they can qualify for statutory redundancy in exactly the same way as any other employee.
It gets more complicated for proprietary directors, meaning those who own or control a significant shareholding.
Directors who own or control 50% or more of the company’s shares, directly or indirectly, are classified by law as self-employed for social insurance purposes (PRSI Class S) and cannot be treated as an employee. This generally rules out entitlement to statutory redundancy, regardless of length of service.
For directors holding between 15% and 50%, classification – and with it redundancy eligibility – is assessed case by case, based on the director’s actual working relationship with the company. Those with a smaller or no shareholding, working under a normal employment contract, are usually treated the same as any other employee.
Given how much this depends on individual circumstances, it is worth checking your shareholding, contract and PRSI class before assuming either way. For the standard entitlement calculation once employee status is established, see our guide to redundancy in Ireland.
Employers are never obliged to pay more than the statutory minimum, but many directors, particularly senior or long-serving ones, negotiate an enhanced or ex-gratia payment as part of their exit. There is no fixed formula for this; it depends on the individual’s contract or service agreement, company policy and the circumstances of the departure.
The tax treatment differs from statutory redundancy, which is always tax-free. Any ex-gratia element above the statutory payment is generally taxable, though Revenue allows part of it to be sheltered using either the Basic Exemption (currently €10,160 plus €765 per complete year of service) or the Standard Capital Superannuation Benefit, whichever gives the higher relief.
Because director service agreements are often more bespoke than standard employment contracts and can include elements like pension contributions or share arrangements, it is worth having any exit package reviewed before signing anything.
Beyond the financial questions, redundancy as a director can bring legal and professional concerns a typical employee does not have to think about. Alongside your own finances, you may still have responsibilities to the company itself. Here is what to prioritise.
Start by confirming your eligibility. Gather your contract of employment or service agreement, recent payslips and a record of your service and PRSI class, as these documents support your entitlement and are needed to calculate the statutory payment accurately.
If your employer cannot or will not pay what you are due, you can apply to the Department of Social Protection for direct payment.
Becoming redundant as an employee does not automatically end your position as a company officer. Under the Companies Act 2014, a director’s appointment only formally ends through resignation or removal by ordinary resolution, and the company must notify the Companies Registration Office (CRO) using Form B10 within 14 days.
Until that filing is made, you may remain listed, and legally responsible, as a director. It is worth confirming your resignation is properly documented, handing over any outstanding governance duties, and checking the CRO register once the process is complete.
It is a common misconception that income protection covers redundancy. It does not. Personal and executive income protection policies replace income if you cannot work due to illness or injury, not job loss.
That said, if you had executive income protection arranged through the company, check what happens to it now. Many policies include a continuation option, letting you convert to a personal policy without fresh medical underwriting, so you do not lose valuable cover built up over the years.
It is also worth reviewing any other insurance tied to your directorship, such as death-in-service benefits, which typically end when employment does.
Once the immediate legal and financial matters are settled, step back and look at the bigger picture. Redundancy can be an opportunity as much as a setback, whether that means taking on another director-level role, starting your own venture or reassessing your retirement timeline.
Review your pension options carefully, since decisions made now, such as how a payment is structured or whether to draw down benefits early, can affect your long-term financial security. For a wider checklist of next steps, see our guide, What to Do After Being Made Redundant in Ireland.
Whatever your next move, getting the details right matters, especially where enhanced payments, pension decisions and ongoing legal obligations overlap. Fairstone’s redundancy service brings together financial planning and practical guidance for directors and employees alike, helping you make confident, well-informed decisions at what can be an uncertain time.
Sources:
Citizens Information, Redundancy and Taxation of Lump Sum Payments
Workplace Relations Commission, Redundancy
Department of Social Protection, PRSI and Family Employment (proprietary directors)
Companies Registration Office, Changing Company Officer Information (Form B10)
This publication is for general information purposes and is not an invitation to deal or address your specific requirements. The information is believed to be reliable but is not guaranteed. No individual or company should act upon this information without receiving appropriate professional legal and tax advice after a thorough examination of their particular circumstances. Thresholds, percentage rates, conditions and tax treatment may be amended due to future legislative changes.
For many self-employed people, company directors, and landlords in Ireland, one date dominates the autumn calendar more than any other: 31 October. Yet despite how often it comes around, the detail behind Ireland’s Pay and File system, what preliminary tax actually means, who needs to file a Form 11, and how the ROS extension works, catches people out every year. This guide sets out exactly what the deadline involves, what happens if you miss it, and how to make the most of the weeks beforehand.
Ireland operates a system known as Pay and File. Rather than filing a return and paying tax separately, self-assessed taxpayers are required to do both on the same date, 31 October each year. On this date, you must:
For the 2025 tax year, this means the deadline for filing your Form 11, paying any balance owed for 2025, and making your preliminary tax payment for 2026, falls on 31 October 2026.
Preliminary tax is an advance payment toward the tax you will owe for the current year, paid before that year has even ended. Revenue applies this system to bring self-assessed taxpayers onto a similar footing to PAYE employees, who have tax deducted from every payslip throughout the year rather than in a single lump sum.
To avoid interest charges, your preliminary tax payment must equal at least one of the following:
Most taxpayers use the 100% rule, since it is the simplest to calculate: pay what you owed last year, and you are protected regardless of how your income changes this year.
Taxpayers who file their return and pay their tax through the Revenue Online Service (ROS) are generally given a later deadline than those filing on paper. For the 2025 tax year, Revenue has confirmed this extended deadline as Wednesday 18 November 2026.
To qualify, both your filing and your payment must be completed through ROS. If only one of the two is done online, the extension does not apply, and the standard 31 October deadline stands.
The same extended deadline also applies to beneficiaries filing a Capital Acquisitions Tax (CAT) return, where the return and payment relate to a gift or inheritance with a valuation date in the year ending 31 August 2025, and both are completed through ROS.
Not everyone is required to file a Form 11. Broadly, you are considered a chargeable person if:
If you are unsure whether this applies to you, it is worth checking your position before assuming a return is not needed.
Missing the deadline triggers a surcharge, calculated as a percentage of your total tax liability for the year, regardless of how much of that liability has already been paid:
Interest also applies to any unpaid tax, calculated daily at a rate of 0.0219% per day, from the original due date until the balance is paid. Filing on time, even if you cannot pay the full amount owed, avoids the surcharge. The outstanding balance will still attract interest, but this is considerably less costly than a missed filing.
The Pay and File deadline is also a valuable opportunity, not just an obligation. A pension contribution made before the deadline can still be backdated to reduce your tax bill for the previous year. This applies whether you are contributing personally or, for company directors, through your business.
For a closer look at how business owners can structure this most effectively, see our guide on the business owner’s pension strategy.
If you are specifically weighing up an Additional Voluntary Contribution, our AVC guide covers how AVCs work and how to maximise their value.
The same 31 October deadline also applies to Capital Gains Tax returns, filed using the chargeable gains section of your Form 11, or a standalone Form CG1 if you are not otherwise required to file a Form 11.
For a full breakdown of how CGT works in Ireland, see our guide to Capital Gains Tax.
The standard Pay and File deadline is 31 October 2026. Taxpayers who file and pay in full through ROS have an extended deadline of 18 November 2026.
Preliminary tax is an advance payment toward your current year’s tax liability, paid at the same time as you file and pay your return for the previous year.
You will be charged a surcharge of 5% or 10% of your tax liability, depending on how late the return is filed, in addition to daily interest on any unpaid tax.
You need to file a Form 11 if you are self-employed, a company director with a significant shareholding, a landlord, or have non-PAYE income above certain thresholds.
A contribution made before the Pay and File deadline, or the ROS extended deadline, can be backdated to reduce your tax bill for the previous year. Once the deadline passes, that opportunity closes for the year in question.
The Pay and File deadline is one date, but the decisions behind it, how much to pay, whether a pension contribution makes sense, whether your income sources are properly declared, are worth getting right well in advance. At Fairstone, our regulated financial advisers help individuals and business owners across Ireland plan ahead of the deadline, not scramble in the final days before it.
Book a no-obligation financial planning consultation with our team.
Always consult a qualified professional for personalised tax advice.
All figures are correct as of August 2026.
Sources
Disclaimer
This article is for general information purposes and is not an invitation to deal or address your specific requirements. Any expressions of opinions are subject to change without notice. The information disclosed should not be relied upon in their entirety and shall not be deemed to be, or constitute, advice. Although endeavours have been made to provide accurate and timely information of the various source material, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future
Tax treatment depends on the individual circumstances of each client and may be subject to change in the future. A pension is a long-term investment not normally accessible until age 50. The value of your investments (and any income from them) can go down as well as up, which would have an impact on the level of pension benefits available. Your pension income could also be affected by the interest rates at the time you take your benefits.
Being made redundant is rarely something you can fully prepare for, no matter how strong your financial position might be. It can happen suddenly, often at a stage in your career you least expect. The impact is not only about losing an income, it can mean the lifestyle built around that income coming under real pressure. Whether you have a mortgage, dependents or a standard of living you are used to maintaining, redundancy can feel like the ground shifting beneath you.
The good news is that with the right steps, taken in the right order, redundancy does not have to derail your long-term financial security. Here is what to do first.
Whatever your net worth or overall financial situation, there are a handful of practical steps everyone should take in the days and weeks after redundancy. These early decisions, or the decisions you put off, can shape how quickly and how successfully you move back towards financial stability. Below is a checklist of the essential first steps to take after redundancy in Ireland.
Redundancy is a genuinely high-stress event, even when it is expected or comes with a generous package attached. Under that kind of stress, it is easy to make decisions that do not serve your best interests, whether that is accepting a settlement offer without reading the fine print, cashing in a pension too early, or rushing into a new role or venture out of anxiety rather than strategy.
Before you do anything financial, give yourself a day or two to process what has happened and spend time with family or friends. Redundancy decisions are rarely so urgent they cannot wait, and a clearer head will put you in a far more productive, pragmatic frame of mind for the steps that follow.
Once you are ready to look at the numbers, the first step is understanding what you are actually entitled to. If you have at least two years of continuous service, you are entitled to statutory redundancy in Ireland, calculated as two weeks’ pay for every year of service, plus one additional week’s pay, subject to a weekly pay cap. Many employers also offer an enhanced or ex-gratia payment on top of this statutory minimum, and how that additional amount is structured can have a significant bearing on how much tax you pay.
For a full breakdown see our full guide to redundancy entitlements and tax in Ireland, which covers the exact calculation, current caps, and how Standard Capital Superannuation Benefit (SCSB) can reduce tax on a larger termination payment.
If a redundancy means repayments could become a concern, contact your mortgage provider proactively rather than waiting until a payment is missed. Many lenders offer options such as a temporary payment break or a restructured repayment plan, and they are typically far more accommodating when you get in touch before falling behind than after.
With your redundancy figure and insurance position clear, the next step is to take stock of everything else. Add up your redundancy lump sum, savings, any other household income, investments you could realistically draw on, and entitlements such as Jobseeker’s Benefit. Then weigh that against your current monthly outgoings.
This gives you a realistic figure for how many months you can maintain your current lifestyle without a salary. Knowing this number, rather than guessing at it, removes much of the anxiety that comes with redundancy and gives you a clear basis for every decision you make next.
Once you know what you can afford, look honestly at your usual spending to see where you could extend that buffer further. Small changes, such as eating out less often or choosing home entertainment over paid venues, can add up quickly over several months.
It is also worth reviewing anything that is optional rather than essential. This might mean pausing voluntary contributions to a personal pension until your income is more secure, or reviewing subscriptions and memberships you rarely use. On the savings side, it is worth checking whether your buffer is sitting in an account that is actually working for you. Moving cash reserves into a higher-rate savings account can help that money earn more while you decide on your next move, without taking on any additional risk.
Once the practical groundwork is in place, it is worth stepping back and viewing redundancy as a potential turning point rather than purely a setback. Some people use this period to switch careers entirely, others go freelance or set up as a contractor, and some use a lump sum as the foundation for a new investment strategy or a passive income stream.
For those closer to the end of their career, redundancy can also open the door to early retirement, particularly where a pension has been well funded over the years. There is no single right answer here. The right option depends entirely on your goals, your financial position and the runway you calculated earlier, and it is a decision worth taking time over rather than rushing into.
Statutory redundancy is fully tax-free. Any enhanced or ex-gratia payment above that may be partly taxable, depending on your service, salary and the reliefs available. See our redundancy entitlements guide for a full breakdown.
You generally have several options, including leaving it where it is, transferring it, or consolidating it with other pensions. The right choice depends on your scheme type and your age, so it is worth getting advice before making a decision.
Yes, wherever possible. Once you sign, your options may be limited, particularly around how a termination payment is structured for tax purposes. A short conversation with a financial adviser beforehand can prevent costly mistakes.
No. Mortgage protection insurance, which is compulsory for most residential mortgages in Ireland, is a decreasing-term life insurance policy. It clears your outstanding mortgage balance if you die during the term, but it cannot be claimed for redundancy or job loss. Income protection insurance won’t help either, as it only pays out if illness or injury stops you working.
Redundancy brings together several complex financial decisions at once: tax on a lump sum, pension options, insurance, savings strategy and, often, a career decision, all at a time when you are under significant personal stress. Getting even one of these wrong, such as taking a pension lump sum in the wrong way, or missing a tax relief you were entitled to, can have an impact that lasts for years.
This is exactly the kind of moment where professional, regulated financial advice earns its value. An adviser can look at your full financial picture, not just the redundancy payment in isolation, and help you structure it in a way that protects your long-term security.
At Fairstone, our team of regulated financial advisers works with clients across Ireland to make sense of redundancy, from calculating entitlements and structuring tax-efficient termination payments to reviewing pension options and building a financial plan for whatever comes next. Whether redundancy has caught you by surprise or you are considering voluntary redundancy, we can help you turn a stressful moment into a clear, confident plan.
Sources:
Information as of 20/07/2026
Disclaimer
This article does not constitute tax or legal advice and should not be relied upon as such. Tax treatment depends on the individual circumstances of each client and may be subject to change in the future. For guidance, seek professional, independent, advice. This page is for general information purposes and is not an invitation to deal or address your specific requirements. Any expressions of opinions are subject to change without notice. The information disclosed should not be relied upon in their entirety and shall not be deemed to be, or constitute, advice. Although endeavours have been made to provide accurate and timely information of the various source material, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future.
The start of a new year tends to prompt reflection. June rarely does, but it should. By the time June arrives, the Irish tax year is exactly halfway through. Contribution windows are narrowing. Reliefs are going unclaimed. Investment positions set up at the start of the year have not been reviewed. And the 31 October deadline, which always feels distant in January, is suddenly much closer.
A mid-year financial review is not about overhauling everything. It is about a structured check across the areas that matter most, pension, tax, investments, protection, and estate, to ensure that nothing is being left on the table and that the second half of the year is working as hard as the first.
Pension contributions are one of the most tax-efficient financial moves available to working people in Ireland. Income tax relief at your marginal rate — up to 40% for higher earners — means that every €10,000 contributed effectively costs a higher-rate taxpayer €6,000. Growth within the fund is tax-free, with no exit tax or deemed disposal.
Mid-year is the right time to check three things. First, are you on track to use your full age-related contribution limit for 2026? Revenue caps relief at a percentage of earnings up to €115,000: 15% for those under 30, rising to 40% for those aged 60 and over. Second, if you received a bonus or other income earlier in the year, could an Additional Voluntary Contribution (AVC) absorb some of that before year-end? Third, the 31 October deadline allows you to backdate a contribution to the 2025 tax year, if you did not maximise your pension relief in 2025, you still have a window to fix that.
For anyone approaching or concerned about the Standard Fund Threshold — now €2.2 million in 2026, rising to €2.8 million by 2029 — a mid-year review of total fund value across all arrangements is particularly important. The phased increases create planning opportunities around timing of drawdown and contribution strategy that are worth working through with an advisor now rather than closer to retirement.
Read more in our guide to the Standard Fund Threshold in 2026
Revenue estimates that hundreds of millions of euro in tax credits go unclaimed by Irish taxpayers each year. PAYE employees, in particular, often assume that because tax is being deducted correctly through payroll, they have nothing further to do. That is rarely true.
A mid-year check through Revenue’s myAccount typically takes under an hour and can surface real money. Credits that are commonly overlooked include:
Markets have moved in the first half of 2026. A portfolio correctly positioned in January may look quite different by June, in both value and allocation. A mid-year review is not about reacting to short-term movements, but about ensuring the structure remains aligned to your timeline and objectives.
If you hold Irish-domiciled Exchange-Traded Funds (ETFs) or investment funds, the eight-year deemed disposal rule triggers a tax liability on unrealised gains automatically. June is a good time to check when each holding was originally purchased and whether any are approaching their eight-year anniversary in 2026 or 2027. Planning around this in advance is straightforward with the right structure.
Irish household deposits stand at over €170 billion, with inflation at 3.6% as of March 2026. If significant cash has accumulated since January, from a bonus, rental surplus, or retained profits, now is the time to revisit whether it should be working harder. Read more in our guide on what to do with a lump sum in Ireland in 2026.
Protection is the area most commonly overlooked in annual financial reviews, and yet the consequences of a gap tend to be the most severe. Mid-year is a good prompt to ask a few straightforward questions.
Has anything changed in the first half of 2026 that affects your cover requirements? A pay rise, a change of employer, a new mortgage, a growing business, or a change in family circumstances can all create a gap between the protection you have and the protection you need. In particular:
Read more in our guide to income protection in Ireland
The €3,000 annual gift exemption allows any individual to give €3,000 per year to any other individual, completely free of Capital Acquisitions Tax. It does not erode lifetime CAT thresholds. It is not transferable between years. And it resets on 1 January.
We are now halfway through 2026. For individuals with adult children, grandchildren, or others they intend to support, the mid-year point is a useful prompt to check whether this year’s exemption has been used. Two parents each gifting €3,000 to two adult children equals €12,000 moved outside the estate this year, entirely CAT-free, with no impact on any lifetime threshold. Over ten years, that is €120,000, compounding within the recipient’s own name rather than remaining in a potentially taxable estate.
Most people review their finances in January or, under pressure, in October ahead of the self-assessment deadline. A mid-year review in May or June is more useful for both. It is early enough to act on pension contributions for the current and prior year, correct tax credit gaps before year-end, and review investment positions without the distraction of an imminent deadline.
The most frequently unclaimed credits are the Rent Tax Credit (worth up to €1,000 per year, not applied automatically), medical expenses relief (20% on qualifying unreimbursed costs, claimable back four years), remote working relief, and the Mortgage Interest Relief available in its final year in 2026. All are claimable through Revenue’s myAccount.
Yes, if you act before 31 October 2026. Revenue allows pension contributions made before 31 October to be backdated to the prior tax year, meaning a contribution made now can attract relief for 2025 as well as 2026, potentially doubling the available headroom if you did not maximise your 2025 limit.
A formal review once or twice a year is generally sufficient for most long-term investors. The mid-year point is particularly useful for checking allocation drift, reviewing any approaching deemed disposal dates on fund holdings, and assessing whether any new capital, from a bonus or other source, should be deployed before year-end.
A mid-year financial review works best when it covers everything together, pension, tax, investments, protection and estate, rather than each area in isolation. The interaction between a pension top-up decision and your overall tax position for the year, for example, can only be properly assessed with a complete picture.
At Fairstone, our advisors are regulated by the Central Bank of Ireland and work across the full range of financial planning decisions. A mid-year review with the Fairstone team typically takes around an hour and gives you a clear, actionable picture of where you stand and what, if anything, to do before the year-end.
Sources
Revenue.ie — Pension contribution age-related limits
Revenue.ie — Tax credits and reliefs
Revenue.ie — Medical expenses relief
Revenue.ie — Mortgage Interest Relief 2026
Revenue.ie — CAT small gift exemption
Citizens Information — Rent Tax Credit
RTÉ Brainstorm — Tax credits and reliefs guide 2026
CSO — Consumer Price Index March 2026
Central Bank of Ireland — Household deposits data
Department of Finance — Budget 2026
Disclaimer
This article is for general information purposes and is not an invitation to deal or address your specific requirements. Any expressions of opinion are subject to change without notice. The information disclosed should not be relied upon in its entirety and shall not be deemed to be, or constitute, advice. Tax treatment depends on individual circumstances and may be subject to change. Although endeavours have been made to provide accurate and timely information of the various source material, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future.
Your ability to earn is the foundation of everything else in your financial life, your mortgage, your bills, your savings, your family’s security. Most people insure their car, their home, and their life. Far fewer insure the income that pays for all of it.
Income protection is one of the most overlooked forms of financial cover in Ireland. This guide explains what it is, how it works, what it costs after tax relief, and who needs it most.
Income protection insurance pays you a regular monthly income if you are unable to work due to illness or injury. Unlike life insurance, which pays on death, or serious illness cover, which pays a one-off lump sum, income protection replaces a portion of your salary for as long as you remain unable to work, right up to your chosen retirement age if necessary.
In Ireland, the maximum you can insure is 75% of your gross income, minus any State illness benefit you receive. Covered conditions are broad, physical illness, injury, and mental health conditions including depression, anxiety, and stress are all typically included. Many policies use an “own occupation” definition of disability, meaning you are covered if you cannot do your specific job. This is the most generous definition and the one to look for when comparing policies.
Income protection does not pay from day one of illness. There is a waiting period, the deferred period, before payments begin. Common options are 4, 8, 13, 26, or 52 weeks. The longer the deferred period, the lower your premium, because the insurer takes on less short-term risk. The practical approach is to match your deferred period to your existing cover: if your employer pays six months of sick pay, a 26-week deferred period means your income protection picks up exactly where that ends. If you have no employer sick pay, your deferred period should reflect how long your emergency fund would cover your essential outgoings before you need the policy to step in.
The benefit period is how long the policy pays if you remain unable to work. Longer policies pay until your chosen retirement age, typically 60, 65, or 68 — and up to age 70 with some providers. If you are out of work for years due to a serious illness, a five-year cap leaves you with nothing for the remainder of your working life. Policies running to retirement age cost more but provide genuinely comprehensive cover.
The benefit is paid monthly and is treated as taxable income, you pay income tax and USC on it, but not PRSI. Your insurer typically deducts tax before paying you. Because the benefit is taxable, the 75% gross income cap is designed to ensure you receive a reasonable net income while on claim without creating a financial incentive to stay off work.
Statutory Sick Pay gives employees five certified sick days per year at 70% of normal daily pay, capped at €110 per day. Beyond those five days, employees who qualify through their PRSI record can claim Illness Benefit, currently up to €254 per week at the maximum personal rate from January 2026, or roughly €1,100 per month before tax. Illness Benefit is also capped at two years.
To put that in context: someone earning €50,000 per year takes home around €3,100 per month after tax. On Illness Benefit alone, the gap to their normal income exceeds €2,000 every month. After two years, if they cannot return to work, there is no State income beyond means-tested benefits.
Self-employed people face an even starker position. Those paying Class S PRSI, the majority of sole traders, company directors, and partners, do not qualify for Illness Benefit at all. With approximately 340,000 self-employed people in Ireland, this is a very large group with no State income safety net if they cannot work.
Revenue-approved income protection policies qualify for income tax relief at your marginal rate, on premiums up to 10% of your total income in the tax year. For a standard-rate taxpayer, a €100 monthly premium costs €80 after relief. For a higher-rate taxpayer at 40%, that same premium costs €60. For a 40% taxpayer paying €150 per month, the effective cost after relief is just €90.
PAYE employees claim the relief through Revenue’s myAccount under ‘Permanent Health Insurance’. Self-employed individuals claim through their annual self-assessment return. For company directors, executive income protection, where the company pays the premium, can be more tax-efficient still: the premium is a deductible business expense for corporation tax, with no Benefit in Kind liability for the director.
Income protection is relevant to any working adult whose financial commitments would not be manageable without their income. Some groups face particularly high exposure:
The cheapest premium is not always the best value. Key things to check: the definition of disability (own occupation is preferable to any occupation); whether the benefit period runs to retirement age or is capped at a fixed number of years; whether premiums are guaranteed or reviewable (reviewable premiums can rise at the insurer’s discretion); and whether the policy includes indexation, an annual benefit increase to keep pace with earnings growth.
Full and accurate disclosure of your medical history at application is essential. Non-disclosure, even unintentional, can invalidate a claim, including for conditions that seem unrelated to the illness you are claiming for.
Income protection insurance covers your inability to work due to illness, injury, or mental health conditions. Most policies use an own occupation definition, meaning you can claim if you are unable to perform your specific job. Commonly covered conditions include back problems, cancer, heart disease, depression, and anxiety. However, it does not cover redundancy.
Policies typically insure up to 75% of your gross income, minus any State illness benefit received. The monthly benefit is taxable as income. Any employer sick pay or other income while unable to work is offset against the insured amount.
Yes. Premiums for Revenue-approved policies qualify for income tax relief at your marginal rate — 20% or 40% — on premiums up to 10% of your total income. The relief must be claimed actively through Revenue’s myAccount or your annual return.
Yes. Self-employed individuals can take out personal income protection and claim tax relief at their marginal rate. They do not qualify for Illness Benefit under Class S PRSI, making private cover particularly important. Company directors can structure cover through their company as executive income protection, making premiums a deductible business expense.
Choosing the right income protection policy involves more than finding the cheapest quote. The definition of disability, the deferred period, the benefit term, the insurer’s underwriting approach, and the interaction with existing employer cover all affect whether a policy will do what you need it to do if you ever have to claim.
At Fairstone, our advisors are regulated by the Central Bank of Ireland and work with clients across personal and executive income protection. We help identify the right level of cover, the appropriate policy structure, and the most tax-efficient way to hold it. If you are a business owner or company director, our article on how high earners in Ireland can legally reduce their tax bill in 2026 also covers executive income protection alongside other tax-efficient strategies.
Sources
Revenue.ie — Permanent Health Benefit contributions and tax relief
Citizens Information — Illness Benefit
Citizens Information — Sick leave and sick pay
Citizens Information — Class S PRSI
CCPC Ireland — Income protection insurance
Department of Social Protection — Illness Benefit 2026
Disclaimer
This article is for general information purposes and is not an invitation to deal or address your specific requirements. Any expressions of opinion are subject to change without notice. The information disclosed should not be relied upon in its entirety and shall not be deemed to be, or constitute, advice. Tax treatment depends on individual circumstances and may be subject to change. The information contained within the article and sources referred to are believed to be reliable and accurate as of the date of first publication but is not guaranteed to remain accurate into the future
Coming into a lump sum, whether through a bonus, redundancy, inheritance, or a property sale, is one of the most financially significant moments many people will experience. It is also a moment when the wrong decision is easy to make. The temptation to leave the money sitting in a current account is understandable, but Irish household deposits now stand at over €170 billion, much of it earning less than the 3.6% inflation rate. (Source: CSO) Cash sitting idle is not safe, it is quietly losing purchasing power.
This guide sets out a clear framework for deploying a lump sum in Ireland in 2026: the right sequence of decisions, the tax implications of each option, and what to avoid.
Before deploying any capital, confirm you have three to six months of essential outgoings in an accessible account. Without it, a short-term financial shock can force you to redeem long-term investments at the wrong moment.
Paying off debt at 8–20% delivers a guaranteed, tax-free return equivalent to that rate. No investment reliably outperforms that on a risk-adjusted basis. Clear any personal loans or credit card balances before thinking about investment.
How the money arrived affects what you owe before investing it. Statutory redundancy is always tax-free. An inheritance above your Capital Acquisition Tax (CAT) threshold (currently €400,000 from a parent) is taxable at 33%. A bonus is taxed as income under Pay As You Earn (PAYE). A property sale gain above €1,270 is subject to Capital Gains Tax (CGT) at 33%, unless it is your principal private residence. Knowing your starting position avoids unpleasant surprises after the fact.
Once the foundations are in place, the order in which you deploy capital matters significantly. The following sequence reflects Irish tax law in 2026 and prioritises the highest-returning, lowest-risk moves first.
If you have unused pension contribution capacity, topping up your pension with a lump sum is almost always the most tax-efficient move available in Ireland. Contributions attract income tax relief at your marginal rate — for a 40% taxpayer, a €10,000 contribution effectively costs €6,000 after Revenue returns €4,000 in relief. Growth inside the fund is tax-free, and there is no exit tax or deemed disposal.
Age-related limits set by Revenue cap how much qualifies for relief each year, based on a percentage of earnings up to €115,000: 15% for those under 30, rising to 40% for those aged 60 and over. You can also backdate a contribution to the previous tax year if made before 31 October, meaning a lump sum could attract relief across two tax years if timed correctly.
For money beyond your pension capacity, or which you may need access to before retirement, a managed investment fund is the next consideration. Irish-resident investors in managed funds pay exit tax at 38% on gains (reduced from 41% in Budget 2026), with the eight-year deemed disposal rule applying. This is a real tax cost, but still far better than cash losing value to inflation in a deposit account.
Whether to invest all at once or spread it over time is a common question. The evidence slightly favours investing a full lump sum immediately, as markets trend upward over time and time in the market tends to outperform timing it. For investors uncomfortable with volatility, a phased approach over six to twelve months is a reasonable compromise. Read more in our guide on where to invest your money in Ireland in 2026.
For the portion of a lump sum you want to keep genuinely safe for a specific goal, Ireland State Savings products (managed by the NTMA via An Post) offer government-guaranteed, tax-free returns with no fees or commissions. Returns are exempt from DIRT, income tax, USC, and PRSI. The 5-year Savings Certificate returns 9% total (AER 1.74%) and the 10-year National Solidarity Bond returns 22% total (AER 2.01%). Returns are modest, but their tax-free nature meaningfully improves the effective yield for higher-rate taxpayers.
For investors who want more direct market exposure, ETFs and individual shares are both accessible options. Irish-domiciled ETFs are subject to 38% exit tax with the eight-year deemed disposal rule. Direct shares attract CGT at 33%, payable only on actual disposal, with losses offsettable, making them more tax-efficient under the current regime despite the higher single-stock risk. For a full breakdown of the ETF tax picture, see our guide on investing in ETFs in Ireland in 2026.
The best use depends on your situation, but the general order is: secure an emergency fund, clear high-interest debt, maximise your pension contribution for the year, then invest the remainder in a diversified managed fund. If you want guaranteed, tax-free returns for a specific goal, State Savings products are worth considering for part of the money.
Yes. You can make a once-off Additional Voluntary Contribution (AVC) or special pension contribution at any time, subject to the age-related percentage limits on earnings up to €115,000. A 40% taxpayer contributing €10,000 receives €4,000 in tax relief. You can also backdate to the previous tax year if the contribution is made before 31 October.
Investing the full amount immediately has historically outperformed phased investing in most market conditions, because markets tend to rise over time. For investors uncomfortable with the idea of investing at a market peak, spreading over six to twelve months is a reasonable compromise that reduces timing anxiety without materially harming long-term returns.
It depends on the source. Statutory redundancy is fully tax-free. Inheritance above the relevant CAT threshold is taxed at 33%. A bonus is taxed as income. A property sale gain is subject to CGT at 33% above the €1,270 annual exemption, unless it is your principal private residence. Understanding the tax on the lump sum before deploying it is a critical first step.
A lump sum is one of the most significant financial moments in most people’s lives, and the decisions made in the weeks after receiving it tend to shape the direction for years. Getting the tax position right, maximising pension relief, and choosing the right investment structure are all areas where professional advice delivers lasting value.
At Fairstone, our advisors are regulated by the Central Bank of Ireland and work across the full range of investment and financial planning decisions. Whether your lump sum has just arrived or you have been sitting on cash for some time, a conversation with our team gives you a clear picture of your options. See our investment planning service.
For anyone questioning whether their existing savings are keeping pace with inflation, our article on whether your savings are losing value to inflation is a useful starting point.
Sources
Revenue.ie — Tax relief limits on pension contributions
Revenue.ie — Taxation of lump sum payments (redundancy)
Revenue.ie — Capital Acquisitions Tax thresholds
Revenue.ie — Capital Gains Tax
Citizens Information — Tax relief on pensions
Department of Finance — Budget 2026
Ireland State Savings (NTMA) — Products and rates
Central Bank of Ireland — Household deposits
Disclaimer
This article is for general information purposes and is not an invitation to deal or address your specific requirements. Any expressions of opinion are subject to change without notice. The information disclosed should not be relied upon in its entirety and shall not be deemed to be, or constitute, advice. Tax treatment depends on individual circumstances and may be subject to change. Encashment charges may apply in the event of early access to an investment being necessary. The information contained within the article and sources referred to are believed to be reliable and accurate as of the date of first publication but is not guaranteed to remain accurate into the future
If you earn a high income in Ireland, you are almost certainly paying more tax than you need to. Not through any fault of your own, but because the full range of legitimate reliefs available to higher earners is rarely used in full.
A single person earning over €100,000 faces a combined marginal rate of around 52%, income tax at 40%, USC at up to 8% (plus a 3% self-employed surcharge above €100,000), and PRSI at 4.2%.
Paying tax is unavoidable. Overpaying is not. This guide covers the most effective, Revenue-approved strategies available to high earners in Ireland in 2026.
The most significant tax savings for high earners in Ireland are not found in complex schemes. They are found in the straightforward reliefs most people are fully entitled to, but have never claimed in full.
Pension contributions are the most powerful tax reduction tool available to higher earners in Ireland. Contributions attract income tax relief at your marginal rate, every €100 contributed by a 40% taxpayer costs just €60 after relief.
Age-related limits allow contributions from 15% of earnings (under 30) up to 40% of earnings from age 60, on a salary cap of €115,000.
Pension contributions also reduce gross income for USC purposes, adding a further saving for those in the 8% USC band.
In 2026, the Standard Fund Threshold (lifetime limit on tax-relieved pension funds) increased to €2.2 million, with phased increases planned through 2029.
Example: A 50-year-old director earning €115,000 can contribute up to 30%, €34,500, with full income tax relief. At 40%, that is €13,800 returned by Revenue before a single investment return is earned.
For company owners and directors, how income is extracted matters as much as how much is earned.
The right balance requires a full review. What worked at €80,000 is often not optimal at €150,000.
From 1 January 2026, the Revised Entrepreneur Relief lifetime limit increased from €1 million to €1.5 million, with CGT (Capital Gains Tax) at just 10%, a potential saving of €345,000 versus the standard 33% rate.
Every individual also has a €1,270 annual CGT exemption. Married couples can each use this on jointly held assets.
For business owners approaching a sale or exit, the interaction between Entrepreneur Relief, Retirement Relief (age 55+), and pre-sale pension funding can be highly significant. Planning should begin well before heads of terms are agreed.
The EIIS allows qualifying individuals to claim income tax relief of 20% to 50% on investments in qualifying Irish SMEs, on up to €1 million per year.
For a 40% taxpayer, a €50,000 investment qualifying for 35% relief generates a €17,500 reduction in income tax in the year of investment. Capital must be held for a minimum of four years and is at risk.
Important: The EIIS scheme is currently scheduled to end on 31 December 2026 unless extended. Anyone considering EIIS relief for the 2026 tax year should note the December deadline.
Married couples with two earners can extend the standard rate band up to €88,000, €53,000 for the higher earner and up to €35,000 for the second earner, before the 40% rate applies.
Reviewing joint versus separate assessment, income splitting through salary or dividends where roles allow, and maximising each partner’s pension contributions independently can yield a material combined saving.
Tax credits reduce your bill directly. Many are applied automatically; others require active claiming through myAccount or ROS.
Employer pension contributions are typically the most efficient method. They attract no income tax, PRSI, or USC for the director, are deductible at 12.5% corporation tax for the company, and grow tax-free within the pension. A modest salary (for pension eligibility and PRSI entitlements) combined with employer pension contributions is the most common structure for owner-directors.
The maximum tax-relieved contribution is an age-related percentage of earnings up to €115,000, ranging from 15% (under 30) to 40% (age 60+). Employer contributions operate separately and do not count toward this personal limit. The Standard Fund Threshold increased to €2.2 million from January 2026.
USC applies to gross income with very limited reliefs. However, employer pension contributions made under a salary sacrifice arrangement reduce the gross income on which USC is calculated, one of several reasons employer contributions are more efficient than personal contributions for company directors.
Revised Entrepreneur Relief reduces CGT from 33% to 10% on qualifying gains from the sale of a business. From 1 January 2026, the lifetime limit increased from €1 million to €1.5 million, a potential saving of up to €345,000. Qualifying conditions apply, and early planning is essential.
You can claim missed pension tax relief for up to four prior tax years. The deadline for PAYE workers and the self-assessed is 31 October of the following year. This is particularly relevant for higher earners who recently moved into the 40% band and were not previously maximising contributions.
The Irish tax code for high earners involves the interaction of income tax, USC, PRSI, CGT, CAT, and corporation tax, alongside pension limits, the Standard Fund Threshold, director pension rules, and investment structures. Decisions made without an integrated view regularly cost more than the advice would have.
At Fairstone, we work with professionals, directors and business owners across Ireland who want to take control of their tax position, not just at year end, but as part of a coherent, long-term financial strategy.
Our advisers are Qualified Financial advisors (QFA), regulated by the Central Bank of Ireland, with over 25 years of experience in the Irish market. We build a complete picture of your income, assets, pension position and goals, and identify precisely where reliefs are available and how to claim them.
Sources
Revenue – Income Tax Bands & USC Rates
Revenue – Pension Tax Relief Ireland
Revenue – Entrepreneur Relief in Ireland
PwC Tax Summaries — Ireland Individual Deductions
Raisin — Capital Gains Tax Ireland 2026
Revenue – EIIS Investments — EIIS Relief Rates
Grant Thornton — Budget 2026 (Entrepreneur Relief)
Information as of 08.04.26
This article does not constitute tax or legal advice and should not be relied upon as such. Tax treatment depends on the individual circumstances of each client and may be subject to change in the future. For guidance, seek professional, independent, advice. This article is for general information purposes and is not an invitation to deal or address your specific requirements. Any expressions of opinions are subject to change without notice. The information disclosed should not be relied upon in their entirety and shall not be deemed to be, or constitute, advice. Although endeavours have been made to provide accurate and timely information of the various source material, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future.
As 2026 begins, it’s an ideal moment for reflecting on your finances, sharpening your focus, and setting a practical roadmap for the next five years. Whether you’re just starting out or reassessing where you stand, this blog will walk you through how to build a robust 5-year financial strategy with clear, actionable steps you can follow.
A five-year time-horizon provides a useful balance: it’s long enough to aim for meaningful progress, yet short enough to stay realistic and adaptable. Compared with vague resolutions, a defined strategy increases your likelihood of success by giving you structure, measurable goals and a timeline.
In Ireland, the financial and regulatory environment continues to evolve, so having a strategy ensures you respond proactively rather than reactively. This is why financial planning begins with establishing your current financial position and setting clear goals, without this foundation, it becomes far more difficult to build a strategy that genuinely supports long-term success.
Before you set new goals, you need to understand where you currently stand. Key areas to review:
In the Irish context, financial-planning firms advise a “snapshot” approach: compile your current finances, liabilities and aspirations to build a realistic starting point.
With your baseline mapped out, highlight:
This diagnostic will form the foundation for your 5-year plan.
Rather than “I want to save more,” aim for something like: “Build an emergency fund equal to six months’ outgoings within 2 years” or “Increase pension contributions by 50 % in the next 12 months and hold steady thereafter.”
Based on your goals and risk tolerance, develop a savings and investment strategy. This should include:
Fairstone supports clients in building disciplined and goal-focused savings strategies through our dedicated savings service, helping you stay on track and make informed decisions that align with your financial ambitions.
You can learn more about how we help individuals grow their savings here.
Clearing high-interest debt or managing mortgage repayments can free up cash for goals. Some tips:
No strategy is complete without protecting your foundation. Ensure you have adequate:
Protection strategies ensure that if unforeseen events occur, your 5-year timeline isn’t derailed.
Set regular check-ins, every quarter or semi-annually, to review your progress towards each goal. Ask:
Life happens, and your financial strategy should remain flexible. It is recommended to carry out annual reviews of your overall situation and adjust your plan as needed to account for tax changes, market conditions, or shifts in your personal circumstances. This ensures your strategy stays aligned with your goals and continues to support your long-term progress.
Recognise when you hit a target (e.g., emergency fund reached, debt reduced by 50 %). These milestones help maintain motivation and provide psychological momentum.
Ireland offers several tax-efficient vehicles: pensions (which benefit from tax relief when contributing), certain savings schemes and investment opportunities. Your 5-year plan should factor those in, maximising reliefs where possible.
Depending on the vehicle, Irish investors might face tax on interest, dividends or gains. Keep your strategy aligned with your tax position to retain more of your returns.
Regulatory frameworks, pension rules, and investment product legislation can evolve over time. Staying informed about these changes helps ensure your 5-year strategy remains compliant, efficient, and aligned with best-practice wealth-planning principles.
Set up automatic transfers to savings, pension contributions and investment accounts. Automating helps ensure you don’t inadvertently miss the regular contributions that power your goals.
Visualise where you want to be in five years, whether that’s achieving a certain net worth, being debt-free, or having the flexibility to change career or lifestyle. That vision will keep you motivated through the ups and downs.
While focusing on savings and investments is important, allow for rewards along the way, whether a modest holiday, hobby investment or spending on meaningful experiences. This balance helps prevent burnout or loss of enthusiasm for your plan.
Don’t assume high returns without considering the level of risk involved. Your strategy should be based on realistic expectations, supported by appropriate diversification to help balance potential gains and losses. Avoid overly optimistic modelling, as it can lead to decisions that undermine your long-term financial stability.
Focusing solely on upside ignores potential downside. If you haven’t secured appropriate protection (income, health, insurance), your plan is vulnerable.
Avoid making impulsive changes to your plan or trying to “time the market”. A disciplined, regular review process helps maintain focus.
Tax law or pension rules may change. If you don’t revisit your strategy regularly in light of Irish regulations, you may lose opportunities or incur unexpected liabilities.
Setting a five-year financial strategy is one thing; executing it effectively is quite another. This is where expert guidance becomes essential. Even financially confident individuals benefit from professional support in creating a personalised plan, identifying gaps, and staying on course.
A trusted adviser brings:
At Fairstone, we specialise in helping clients turn their financial ambitions into achievable, long-term strategies. We provide tailored financial plans designed around your unique circumstances, goals, and risk tolerance. With our guidance, you can build a strategy that evolves as your life changes while remaining firmly aligned with the Irish financial landscape.
Let 2026 be the start of a purposeful journey to new wealth goals, and with Fairstone’s expertise beside you, you can move forward with confidence and clarity.
This article is for general information purposes and is not an invitation to deal or address your specific requirements. Any expressions of opinions are subject to change without notice. The information disclosed should not be relied upon in their entirety and shall not be deemed to be, or constitute, advice. Although endeavours have been made to provide accurate and timely information of the various source material, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future.
Financial resolutions for 2026 offer a powerful opportunity to reassess, refine, and reset your long-term wealth strategy. January is more than just a symbolic new beginning, it’s a powerful opportunity to reassess, refine, and reset your financial strategy. A new year brings with it both market shifts and personal milestones, making this the ideal moment to ensure your wealth is positioned to support your ambitions.
At Fairstone Ireland, we view the new year not as a time for quick fixes, but as a moment to take deliberate, high-impact action. Strategic financial planning at the start of the year allows you to align your portfolio, tax position, and long-term objectives, ensuring your wealth continues to serve you, and not the other way around.
Every successful financial plan begins with clarity of purpose. True wealth management is not just about maximising returns; it’s about aligning your resources with your priorities, responsibilities, and lifestyle aspirations.
Begin the year by reflecting on what your wealth is meant to achieve, whether that’s funding future ventures, creating intergenerational security, supporting philanthropy, or ensuring financial independence. In an increasingly complex environment, clarity of intent allows you to make strategic decisions instead of reactive ones.
A clearly defined vision becomes the framework against which every financial decision can be tested. It enables you to identify what success means to you, measure progress meaningfully, and focus your capital where it matters most.
The start of the year is the ideal time to take a holistic view of your investment strategy. Review not just performance, but purpose. Does your portfolio still reflect your current goals and time horizons? Is it appropriately balanced across asset classes, geographies, and liquidity needs?
Economic conditions in Ireland and globally continue to evolve, with interest-rate trends, energy markets, and regulatory changes influencing returns. An annual review ensures you’re not over-exposed in one area or missing new opportunities elsewhere.
This process also allows for refinement, perhaps increasing exposure to sustainable investments, reducing concentration risk, or reassessing alternative assets such as private equity or real estate. For business owners or directors, it’s also an opportunity to evaluate how personal wealth interacts with corporate holdings or share options.
At Fairstone Ireland, our advisers work closely with clients to align portfolio structure with long-term strategy, ensuring each asset plays a distinct role in achieving overall objectives.
Ireland’s tax landscape remains dynamic, influenced by both domestic policy and broader European directives. For high-earning professionals and business owners, taking advantage of available reliefs, allowances, and structures before deadlines can significantly enhance outcomes.
Now is the time to evaluate your overall tax efficiency, across investments, pensions, business holdings, and estate-planning vehicles.
Consider:
An integrated wealth and tax review ensures your structures remain compliant while operating at peak efficiency. This not only protects capital but also positions you to take advantage of opportunities as they arise.
Wealth is not just about accumulation, it’s about stewardship. For many families, the start of a new year is an appropriate time to revisit estate and succession planning.
Reviewing wills, trust arrangements, and inheritance-tax exposure ensures that your intentions are clearly defined and efficiently executed. In Ireland, where thresholds and reliefs can change, even a small adjustment in structure can have a significant long-term impact.
For business owners, succession planning should include contingency scenarios, leadership transitions, and shareholder arrangements. These conversations can be complex, but approaching them proactively ensures continuity and confidence for the next generation.
Fairstone Ireland’s advisory approach combines financial structure with empathy, helping clients articulate what legacy truly means to them and ensuring the mechanics of their plan match their vision.
Sustainability and purpose-driven investment continue to evolve as central considerations in modern wealth management. Investors are increasingly seeking not only financial return but also measurable impact, whether environmental, social, or governance related.
The Irish market has seen rapid growth in Environmental Social Governance (ESG) aligned funds and responsible investment products, many classified under EU Sustainable Finance Disclosure Regulation SFDR as Articles 8 and 9 funds. Aligning a portion of your capital with sustainable strategies can deliver long-term resilience while reflecting personal or corporate values.
A purposeful investment strategy also extends to philanthropy, charitable foundations, or donor-advised funds, allowing you to make a difference while maintaining control and efficiency.
Risk management remains a cornerstone of wealth preservation. The new year offers a natural checkpoint to review exposure, both in investment markets and in personal or corporate protection.
Consider whether your current insurance, income-protection, or shareholder-protection arrangements still match your needs. Similarly, review liquidity provisions: would you have sufficient access to capital if an unexpected opportunity or challenge arose?
Balancing growth assets with appropriate levels of liquidity and protection ensures financial resilience. This is particularly relevant in Ireland’s dynamic property and business markets, where personal and professional interests are often intertwined.
Working with an experienced adviser allows you to quantify risk clearly, adjust coverage where necessary, and preserve the integrity of your long-term plan.
A financial plan should never remain static. Markets, regulations, and personal circumstances evolve, and your strategy must evolve with them.
Establishing a structured review schedule with your adviser ensures your wealth plan remains current and optimised. For high-net-worth individuals and business owners, this might involve quarterly investment reviews, annual tax and succession assessments, and periodic recalibration of objectives.
This ongoing governance provides accountability, clarity, and confidence. It transforms financial planning from a one-off exercise into a continuous, dynamic process, one that adjusts as your world changes.
Financial planning is the foundation of every successful wealth strategy. In a landscape shaped by shifting markets, inflationary pressures, and changing legislation, a structured plan provides direction, discipline, and confidence.
A comprehensive financial plan connects every element of your wealth, investments, pensions, tax strategy, and estate structures, into one cohesive framework. It helps you anticipate change rather than react to it, enabling you to make proactive, evidence-based decisions.
In Ireland, where tax structures and investment opportunities are influenced by both domestic and European policy, this level of foresight is invaluable. Sound planning ensures that your wealth continues to grow efficiently while supporting your broader life goals.
At Fairstone Ireland, we specialise in guiding clients through each stage of their financial journey. Our advisory model combines the depth of wealth management expertise with the precision of holistic financial planning.
When you partner with us, you can expect:
Our role is not merely to advise but to collaborate, combining technical insight with strategic vision. We help you make confident, informed decisions that safeguard and enhance your wealth.
The beginning of a new year is the perfect time to reflect, reassess, and reaffirm what truly matters to you financially. Whether your focus is on growth, preservation, succession, or purpose, the key to success lies in clarity and disciplined execution.
By defining your objectives, optimising your structures, and working with a trusted adviser, you turn financial intentions into measurable progress. At Fairstone Ireland, we are here to ensure every element of your financial life works in harmony, today, tomorrow, and for the generations that follow.
The new year is full of possibility. With structured planning, professional guidance and a clear sense of direction, you can make this the year that sets the pace for lasting financial success.
Related articles:
Year-End Wealth Checklist: Smart Financial Moves Before December 31st
This article is for general information purposes and is not an invitation to deal or address your specific requirements. Any expressions of opinions are subject to change without notice. The information disclosed should not be relied upon in their entirety and shall not be deemed to be, or constitute, advice.
