News
Benefit-In-Kind tax rules overturned for company cars
By John Healy of Healy Insurances
Minister for Finance Michael McGrath has announced a temporary change for company-owned vehicles following a backlash from drivers whose Benefit-In-Kind (BIK) taxes increased substantially in January.
While the move to a CO2 based Benefit-In-Kind system, which incentivises the use of Electric Vehicles and lower emission cars, a significant number of employees with vehicles in the typical emissions range experienced large increases in their income tax liabilities since the start of 2023.
To address the issue, the Finance Minister has introduced a relief of €10,000 to be applied to the Original Market Value (OMV) of cars in Category A-D in order to reduce the amount of Benefit-In-Kind payable (this is not applicable to cars in Category E).
In effect, this means that, for the purposes of calculating BIK liability, employers may reduce the OMV by €10,000. This treatment will also apply to all vans and electric vehicles. For electric vehicles, the OMV deduction of €10,000 will be in addition to the existing relief of €35,000 that is currently available for EVs, meaning that the total relief for 2023 will be €45,000.
The upper limit in the highest mileage band is amended by way of a 4,000km reduction, so that the highest mileage band is now entered into at 48,001km.
These temporary measures will be retrospectively applied from 1 January 2023 and will remain in place until 31 December 2023. It is proposed to introduce the measures at Committee Stage of the Finance Bill 2023.
From an insurance perspective, if a vehicle is owned by a company then the motor policy in place must be in the company name and have full business use cover known as Class 2 cover. It is customary that the policy is on an open driving basis, usually aged 25 to 70. The cost for a company owned car policy can be higher than privately owned vehicles.
Local heritage remembered ahead of National Ploughing
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Local agricultural history comes into focus this month as preparations conclude for the National Ploughing Championships, taking place from September 15 to 17.
Ahead of the national event, local resident Tony Wharton recalled the town’s long-standing connections to competitive ploughing, including the time the national event took place on local soil. During the 1960s, the grounds of the Cahernane Hotel hosted the National Ploughing Championships, drawing competitors and spectators from across the country to the venue on the edge of town.
The area also boasts a rich history of individual competitors. Pacella O’Donoghue, who competed in ploughing events in previous decades, originally hailed from Mill Road. She was a sister of Seamus O’Donoghue, founder of Killarney Oil.
The Wharton family maintains a strong link to the sport, with the Wharton brothers and Ryan Wharton continuing the local tradition of involvement in competitive agricultural events.
The National Ploughing Championships remain one of Ireland’s largest outdoor events, showcasing traditional and modern machinery alongside agricultural competitions.
Photo Caption
PLOUGHING HERITAGE: The Wharton family, including the Wharton brothers and Ryan Wharton, who are preserving local agricultural connections ahead of the National Ploughing Championships next week.
No culprit found in River Deenagh pollution investigation
An investigation into a suspected pollution event in the River Deenagh earlier this summer has concluded without identifying a specific culprit.
At Wednesday’s meeting of the Killarney Municipal District, Councillor John O’Donoghue requested an update on the inquiry following a water quality incident reported near Port Road on 10 July 2026, asking: “What have the enquiries found out and has a culprit been identified?”
In a formal response, Kerry County Council confirmed that staff from its Environment Department carried out follow-up surveys across multiple locations upstream, supported by personnel from the National Parks and Wildlife Service (NPWS).
Council officials stated: “Unfortunately, no direct source of the issue was identified. The issue appears to have been short-term in nature and passed through the system relatively quickly. Water samples were taken at time of the incident by NPWS and subsequently by KCC. The samples showed elevated concentrations for a number of parameters but did not provide any specific information as to a potential source.”
Local heritage remembered ahead of National Ploughing
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