For many Irish businesses, year-end tax planning is something that gets attention in November or December. However, starting the process in August gives business owners more time to understand their expected position and make informed decisions before year-end.

Here are five areas worth reviewing now.

1. Review Expected Profits

By August, businesses should have a clearer picture of how 2026 is progressing.

Review your year-to-date results and prepare a realistic forecast for the remainder of the year. Understanding your expected profit can help estimate your tax position, plan cash flow and identify opportunities that may need to be considered before year-end.

For companies, preliminary Corporation Tax payment dates depend on the size of the company and its accounting period, making accurate forecasting particularly important.

2. Consider Planned Capital Expenditure

If your business is considering purchasing equipment, machinery or other qualifying assets, review those plans before year-end.

Irish companies can generally claim capital allowances on qualifying plant and machinery at 12.5% annually over eight years. Certain qualifying expenditure may also benefit from accelerated allowances.

The timing and nature of an investment can affect the relief available, so it is worth discussing significant expenditure with your accountant before proceeding.

3. Review Pension Contributions

Pension contributions can form an important part of tax and remuneration planning for business owners and directors.

If you are considering making contributions before year-end, reviewing your options early gives you time to assess contribution levels, available relief and the appropriate structure based on your individual circumstances.

4. Estimate Upcoming Tax Liabilities

Tax should form part of your cash flow planning rather than becoming an unexpected year-end cost.

Reviewing expected Corporation Tax, Income Tax, VAT, PAYE and other liabilities now can help ensure sufficient cash is available when payments fall due.

For self-assessed taxpayers, preliminary Income Tax for 2026 is due by 31 October 2026, subject to Revenue’s applicable pay and file arrangements.

5. Review Dividend Planning

For owner-managed companies, August can also be a useful time to review how profits may be distributed.

Dividend decisions should take account of the company’s available distributable reserves, the shareholder’s personal tax position and Dividend Withholding Tax requirements.

This can be particularly relevant for close companies, as specific Irish tax rules can apply to certain undistributed income.

Start Your Year-End Planning Early

Year-end tax planning is most effective when businesses have time to consider their options.

Starting in August gives you several months to review expected profits, investment plans, pension contributions, tax liabilities and potential distributions rather than making decisions close to year-end.

At Gallagher Keane, we work with Irish businesses to understand their tax position, improve financial planning and prepare for the year ahead.

If you would like to review your expected 2026 tax position and identify opportunities before year-end, get in touch with the Gallagher Keane team today.