Written Answers Nos. 129-148
129. Deputy Michael McGrath asked the Minister for Finance if he has considered the introduction of a large philanthropic and charitable donations scheme whereby the donor receives the tax relief directly; the estimated cost of such a scheme; and if he will make a statement on the matter. [33764/17]
View answerI assume the Deputy is referring to a tax relief that would be similar in scope as that provided for donations to approved bodies under Section 848A of the Taxes Consolidation Act 1997 (TCA).
As the Deputy may be aware, changes were made to that scheme of tax relief in Finance Act 2013 as follows:
1. Donations from all individual donors under the scheme are treated in the same manner, with the tax relief in all cases being repaid to the charity.
1. A blended rate of relief of 31% applies to all taxpayers regardless of their marginal tax rate. All donations are now grossed up. Previously only donations from individuals within the PAYE collection system were grossed up.
1. The charitable donations scheme was removed from the scope of the high earners' restriction in recognition of the fact that donors no longer benefit from the tax relief associated with their donations.
1. An annual donation limit of €1 million per individual, for which a refund of income tax can be claimed by approved bodies, has been applied.
These changes were made following a process of engagement between officials at the Department of Finance and the Revenue Commissioners with representatives of the charities sector and the completion of a public consultation. The objectives of that process were threefold: (i) to simplify the operation of the existing regime, (ii) to reduce the administrative overheads on charities and on the Revenue Commissioners incurred in the operation of the scheme, and (iii) to ensure that any change would be Revenue neutral from the Exchequer perspective. The proposals for the changes were also recommended in the Report of the Forum on Philanthropy and Fundraising.
I would not be in favour of the introduction of an additional regime, which would effectively reverse the changes set out above for wealthy donors, such that they could claim the tax relief on any qualifying large donations. In my view, real philanthropy should not be dependant on the receipt, by an individual, of a tax advantage. In fact the existing regime, whereby the approved body receives the benefit of grossed up tax relief, as well as the sum donated, should encourage real philanthropic donations, in recognition of the additional resources that are provided to such bodies.
As regards the costing of the scheme suggested by the Deputy, for every €1 million donated under such a scheme, the cost would be expected to be in the region of €400,000. However, it is not possible to estimate whether donors would simply transfer donations made under the existing scheme to the one proposed. In addition, it is not possible to estimate the level of additional donations, if any, that might be made under such a scheme. Furthermore, consideration would need to be given as whether such a scheme would be subject to the high earners' restriction.
130. Deputy Michael McGrath asked the Minister for Finance if he has considered the introduction of an inheritance tax relief for inheritances to charitable and philanthropic organisations; the estimated cost of such a scheme; and if he will make a statement on the matter. [33765/17]
View answerI am informed by Revenue that a gift or an inheritance which is taken for public or charitable purposes is exempt from both gift tax and inheritance tax and is not taken into account when computing tax to the extent that Revenue is satisfied that it has been, or will be, applied for purposes which in accordance with the laws of the State are public or charitable.
As an exemption along the lines suggested by the Deputy is already provided for in section 76 of the Capital Acquisitions Tax Consolidation Act 2003, I do not see any need to consider the introduction of any further such relief.
131. Deputy Michael McGrath asked the Minister for Finance the status of the report due from his Department on providing options on possible exemptions for land used for solar and renewable energy purposes in calculating agricultural relief for capital acquisition tax as agreed at the committee stage of the Finance Act 2016; and if he will make a statement on the matter. [33766/17]
View answerThe Interdepartmental Group which was established to consider the tax treatment of solar panels on farmland is expected to report to me soon. The work of the group is ongoing and the report is being prepared. I will consider the report's recommendations in the context of Budget 2018/Finance Bill 2017.
132. Deputy Michael McGrath asked the Minister for Finance the tax expenditure associated with research and development tax credits in each of the years 2012 to 2016, in tabular form; and if he will make a statement on the matter. [33767/17]
View answerI am advised by Revenue that the information in respect of the Exchequer cost of the Research and Development (R&D) tax credit for the years 2012 to 2014 is available on the Revenue Statistics webpage at http://www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/costs-expenditures.aspx.
The exchequer cost and number of cases for the R&D tax credit for 2012, 2013 and 2014 was as follows:
|
Year |
Cost €m |
Number of Cases |
|
2012 |
281.9 |
1543 |
|
2013 |
421.4 |
1576 |
|
2014 |
553.3 |
1570 |
The tax cost of the R&D tax credit in 2015 was €707.9m. Data in respect of 2016 is not yet available as the bulk of 2016 Corporation Tax returns are not due to be filed until later in the year. Once these returns have been filed, processed, and analysed, Revenue will be in a position to provide this data.
133. Deputy Michael McGrath asked the Minister for Finance the interest the Revenue Commissioners levied and collected from the late payment of tax liabilities, by tax category, in each of the years 2012 to 2016 and to date in 2017; and if he will make a statement on the matter. [33768/17]
View answerI am advised by Revenue that interest charged on the late payment of tax is a statutory charge legislated for by the Oireachtas and provided for in Section 1080 of the Taxes Consolidation Act 1997. Revenue is obliged to factor this charge into all of its compliance intervention programmes.
I am satisfied that collection of interest by Revenue is a key element in reflecting the value of money forgone by the Exchequer where a taxpayer does not pay what is due on time and is also vital in supporting the efforts of the vast majority of taxpayers who are voluntarily and fully compliant.
The interest charged and collected from 2012 to date is set out in the following table.
|
Interest Charged |
||||||
|
2012 |
2013 |
2014 |
2015 |
2016 |
June 2017 YTD |
|
|
PAYE |
€6.13m |
€12.74m |
€15.28m |
€19.29m |
€16.54m |
€7.47m |
|
PRSI |
€1.10m |
€2.13m |
€2.24m |
€2.48m |
€4.39m |
€1.44m |
|
VAT |
€18.90m |
€19.64m |
€17.57m |
€20.80m |
€15.10m |
€8.17m |
|
INCOME TAX (Self-Employed) |
€18.17m |
€23.27m |
€27.76m |
€26.36m |
€29.28m |
€18.32m |
|
CORPORATION TAX |
€7.57m |
€14.53m |
€12.86m |
€18.27m |
€11.63m |
€4.28m |
|
CAPITAL GAINS TAX |
€5.77m |
€12.15m |
€5.62m |
€7.47m |
€5.86m |
€2.75m |
|
RELEVANT CONTRACTS TAX |
€1.47m |
€1.45m |
€0.80m |
€1.25m |
€0.52m |
€0.20m |
|
PROFESSIONAL SERVICES WITHOLDING TAX |
€0.04m |
€0.02m |
€0.01m |
€0.18m |
€0.14m |
€0.00m |
|
DEPOSIT INTEREST RETENTION TAX |
€0.00m |
€0.01m |
€0.08m |
€0.46m |
€0.02m |
€0.04m |
|
LIFE ASSURANCE EXIT TAX |
€0.06m |
€0.30m |
€0.00m |
€0.30m |
€0.06m |
€0.00m |
|
DIVIDEND WITHOLDING TAX |
€0.05m |
€0.23m |
€0.16m |
€0.13m |
€0.11m |
€0.18m |
|
ENVIRONMENTAL LEVY |
€0.02m |
€0.05m |
€0.01m |
€0.01m |
€0.01m |
€0.00m |
|
RELEVANT TAX ON SHARE OPTION |
€0.02m |
€0.18m |
€0.23m |
€0.27m |
€0.74m |
€0.42m |
|
BETTING DUTY |
€0.01m |
€0.04m |
€0.04m |
€0.01m |
€0.00m |
€0.00m |
|
STAMP DUTY |
€2.36m |
€3.06m |
€2.74m |
€2.06m |
€3.51m |
€1.22m |
|
CAPITAL ACQUISITIONS TAX |
€1.25m |
€2.55m |
€2.05m |
€1.41m |
€3.07m |
€1.36m |
|
INVESTMENT UNDERTAKING TAX |
€0.01m |
€0.00m |
€0.07m |
€0.00m |
€0.02m |
€0.07m |
|
LOCAL PROPERTY TAX |
- |
€0.00m |
€0.01m |
€0.01m |
€0.04m |
€0.04m |
|
DOMICILE LEVY |
- |
- |
- |
- |
€0.02m |
€0.11m |
|
Mineral Oil Tax |
- |
- |
- |
- |
- |
€0.63m |
|
TOTAL |
€62.93m |
€92.35m |
€87.53m |
€100.76m |
€91.06m |
€46.70m |
134. Deputy Michael McGrath asked the Minister for Finance the fees his Department has paid to third parties relating to a possible flotation of a bank (details supplied); and if he will make a statement on the matter. [33769/17]
View answerAs the Deputy is aware, in line with the State agreements with AIB, all fees incurred by the State in relation to the IPO will be paid by the bank.
Following a successful transaction, fees are payable to the selling syndicate of investment banks and are proportionate to the value of the transaction. The fees that have been negotiated by my officials are approximately 0.4% of the value of the transaction based on the base deal size (€3 billion), which gives a figure of approximately €12 million. This is very competitive by reference to comparable transactions in Europe. The fee is split across all appointed syndicate banks and as such the number of firms involved (also within precedent), does not affect the overall fee level payable.
Fees will also be payable to our independent financial advisor, Rothschild & Sons, communications advisers Gordon MRM and Citigate Dewe Rogerson and our legal advisers, William Fry. Together with some other seller related and underwriter expenses, these fees in total were estimated to be approximately €4m. I will be in a position to disclose a breakdown of exact fees paid to each service provider when all related invoices have been received and processed.
As is normal practice, details of the fees paid by my Department to such parties are disclosed on an ongoing basis under the procurement section of the Department's website:
http://www.finance.gov.ie/who-we-are/financials/consultancy/consultancy/
135. Deputy Michael McGrath asked the Minister for Finance if the Revenue Commissioners have concluded their investigations into the tax affairs of medical consultants; the lessons learned for tax compliance; and if he will make a statement on the matter. [33770/17]
View answerI am advised by Revenue that their programme of compliance interventions in relation to the tax affairs of medical consultants is continuing. As indicated in replies to previous questions by my predecessor Minister Noonan on this matter from the Deputy earlier in 2017, the main focus of Revenue's work continues to be the tax issues arising from the incorporation of medical consultants' businesses.
I am advised by Revenue that as at 30 June 2017, 829 compliance interventions had been opened on medical consultants and their controlled companies, with some 559 of these interventions having been finalised and resulting in settlements of €62 million, including tax, interest and penalties.
The programme of compliance interventions is ongoing in the context of Revenue’s overall compliance management framework and strategy with further additional interventions as necessary.
136. Deputy Michael McGrath asked the Minister for Finance when he expects to receive an interim and final dividend from the special liquidator of IBRC; the amount of the expected dividend; and if he will make a statement on the matter. [33771/17]
View answerAs outlined in the most recent progress update report which was published on the 5th May 2017 and which is available on the Department of Finance website (http://www.finance.gov.ie/sites/default/files/170505%20IBRC%20Progress%20update%20report%20report_31%20Dec%2016.pdf), the Special Liquidators have cash receipts on hand of c. €1.9bn as at 6th February 2017. An interim dividend of 25% was paid to all admitted unsecured creditors of the liquidation, including the State, in December 2016. The amount paid to date as part of this interim dividend is c. €290m.
As previously advised in the IBRC Progress Update Report of May 2017, it is the expectation of the Special Liquidators, based on current information, that the eventual unsecured creditor dividend will be in the range of 75% - 100% of all eligible claims. This eventual dividend range is subject to change depending on future events which are outside the control of the Special Liquidators. The ultimate level of dividend paid to each creditor, and timing of same, cannot be known until such time as all loan assets are sold, the total level of adjudicated creditors is finalised and the other contingent creditor claims which may crystallise, including those from litigation, are known.
137. Deputy Michael McGrath asked the Minister for Finance the number of vacancies in the Central Bank; the departments these vacancies are in; the length of time these vacancies have been open, in tabular form; and if he will make a statement on the matter. [33772/17]
View answer142. Deputy Michael McGrath asked the Minister for Finance the number of staff vacancies in the enforcement section of the Central Bank; the specific roles that are vacant; if the vacancies are in the enforcement advisory section or the enforcement investigations section; and if he will make a statement on the matter. [33777/17]
View answerI propose to take Questions Nos. 137 and 142 together.
I am advised by the Central Bank that there are 172 active vacancies within the Central Bank, which are detailed in the following table. Each role is advertised internally and externally for a minimum of 2 weeks, and roles within Operations and Financial Regulation take on average 8 weeks to fill with Central Banking roles being filled on average within 7.3 weeks.
I am informed that the Enforcement function of the Central Bank has grown substantially across the past year with a total of 72 active employees (47 in Enforcement Investigation and 25.2 in Advisory). Significant recruitment campaigns were undertaken by the Bank in the first half of 2017, and following on from this process, there are over 20 additional employees due to join the teams. There are currently 2 open vacancies in the Enforcement Investigation Division.
|
Regulator |
Directorate |
Number of Open Roles |
|
Financial Regulation |
Consumer Protection |
8 |
|
Financial Regulation |
Credit Institutions |
51 |
|
Financial Regulation |
Enforcement |
4 |
|
Financial Regulation |
Insurance |
21 |
|
Financial Regulation |
Securities and Markets Supervision |
8 |
|
Financial Regulation |
Asset Management Supervision |
7 |
|
Financial Regulation |
Policy and Risk |
16 |
|
Total Pillar figure |
115 |
|
|
Average time to hire |
8 weeks |
|
Regulator |
Directorate |
Number of Open Roles |
|
Chief Operations Officer |
Direct Reports |
3 |
|
Chief Operations Officer |
Currency and Facilities Management |
1 |
|
Chief Operations Officer |
Information Management and Technology |
17 |
|
Chief Operations Officer |
Human Resources |
1 |
|
Total Pillar figure |
22 |
|
|
Average time to hire |
8 weeks |
|
Regulator |
Directorate |
# Open Roles |
|
Central Banking |
Chief Economist |
15 |
|
Central Banking |
Financial Operations |
8 |
|
Central Banking |
Corporate Affairs |
12 |
|
Total Pillar figure |
35 |
|
|
Average time to hire |
7.3 weeks |
138. Deputy Michael McGrath asked the Minister for Finance the number of new positions made available in the Central Bank specifically to deal with Brexit; the types of new roles created; the number of vacancies left to be filled; and if he will make a statement on the matter. [33773/17]
View answerI have been previously informed by the Central Bank that staff from across all three pillars of the Bank are working on various aspects of "Brexit".
The Governor of the Central Bank has stated that, if necessary, staff will be deployed to deal with increases in the authorisation pipeline and will reprioritise workload as appropriate. Should there be a marked increase in the financial sector regulated in Ireland, supervisory and enforcement resources will be increased in a commensurate and appropriate manner.
The Central Bank Commission has approved a complement for 2017 of circa 1,800 staff, which will be a target net increase of 200 staff on the total at end 2016. This 2017 expansion includes dedicated resources of an additional 28 staff to address specific Brexit-related new business needs within existing divisions. The Central Bank also plans to assess on a regular basis the need for contingency-based extra Brexit-related hiring in response to additional business volumes. In this context the Governor has also previously indicated that where further resources are necessary due to an expanded universe of regulated and supervised firms, the Central Bank will increase staff numbers as necessary.
If the Central Bank provide any further update to this position I will share that with the Deputy.
139. Deputy Michael McGrath asked the Minister for Finance the number of employees in his Department specifically dedicated to Brexit; and if he will make a statement on the matter. [33774/17]
View answerI wish to inform the Deputy that the Assistant Secretary who heads the EU and International Division of my Department has been designated as the lead official in the Department for Brexit matters. A dedicated Brexit Unit within the EU and International Division was established in July 2016 to oversee and coordinate Brexit work across the entire Department and to act as a key liaison point, in particular with the Departments of the Taoiseach and of Foreign Affairs and Trade. There are currently four staff in the dedicated unit which is led at Principal Officer level. Also, an additional staff member has been assigned to the Permanent Representation to the EU in Brussels specifically to deal with Brexit.
We have appointed lead Brexit coordinators at Principal Officer level across all divisions of the Department. The challenges which we face as a result of Brexit are mainstreamed across all divisions of my Department and this is reflected in business planning.
140. Deputy Michael McGrath asked the Minister for Finance the number of vacancies in his Department; the areas these vacancies are in; the length of time these vacancies have been open, in tabular form; and if he will make a statement on the matter. [33775/17]
View answerAll resources and vacancies in my Department are managed through a robust Workforce Planning process. I wish to inform the Deputy that as at 13 July 2017 there are 18 vacancies in my Department, details of which are outlined in the following table:
|
Division |
Number of vacancies |
|
Banking Division - FMU |
3 |
|
Economic Division |
3 |
|
EU & International Division |
2 |
|
EU & International Division - Corporate Affairs |
1 |
|
Financial Markets & Pensions Division |
3 |
|
International Finance |
3 |
|
Minister Donohoe's Constituency Office |
1 |
|
Minister of State D'Arcy's Office |
1 |
|
Tax Policy Division |
1 |
|
Grand Total |
18 |
All 18 vacancies are in the process of being filled. Vacancies are filled through various means including open/interDepartmental and internal competitions, mobility and secondments. The length of time the vacancies are open is specific for each post and is dependent on the appropriate method of filling each vacancy. I can advise the Deputy that some posts have become vacant very recently while others have been vacant for a number of months. My officials are working with the relevant stakeholders including the Public Appointments Service, other Government Departments and candidates to reduce the time periods for filling vacancies.
141. Deputy Michael McGrath asked the Minister for Finance the number of employees working in his Department; and if he will make a statement on the matter. [33776/17]
View answerI wish to inform the Deputy that as at 30th June there were 318 (WTE 308.53) employees working in my Department. Included in that figure are 12 staff seconded from the NTMA to the Shareholding & Financial Advisory Division in my Department.
143. Deputy Michael McGrath asked the Minister for Finance the number of firms found to be unauthorised by the Central Bank for the services they provided; if they were financial services providers, collective investment schemes, payment services agents, moneylenders or other types service; if the firms were credit-servicing firms; if the firms own or owned mortgage loans or credit agreements; and if he will make a statement on the matter. [33778/17]
View answer144. Deputy Michael McGrath asked the Minister for Finance the number of financial institutions found to be unauthorised by the Central Bank each year for the past six years; and if he will make a statement on the matter. [33779/17]
View answerI propose to take Questions Nos. 143 and 144 together.
I am informed by the Central Bank that it has found approximately 128 firms/individuals to be conducting unauthorised activities in the years 2011-2016 inclusive. These unauthorised firms have been the subject of Central Bank warning notices. 110 refer to unauthorised Investment Firms, 6 refer to unauthorised Credit Institutions, 6 are in relation to unauthorised Retail Credit Firms, 3 refer to unauthorised Debt Management Firms, 2 regarding unauthorised Insurance Intermediaries, and 1 refers to a firm conducting unauthorised Mortgage Intermediary services.
The following table provided by the Central Bank details the number of firms, broken down into firm type, found to be unauthorised each year.
|
Warning Notices |
Type of firms
|
||||||
|
Year |
Unauthorised Credit Institution/Banking Business |
Unauthorised Debt Management Firm |
Unauthorised Insurance Intermediary |
Unauthorised Investment Firm |
Unauthorised Mortgage Intermediary |
Unauthorised Retail Credit Firm/Money Lender |
Grand Total |
|
2011 |
9 |
9 |
|||||
|
2012 |
35 |
35 |
|||||
|
2013 |
3 |
20 |
1 |
1 |
25 |
||
|
2014 |
1 |
1 |
2 |
22 |
3 |
29 |
|
|
2015 |
2 |
1 |
8 |
11 |
|||
|
2016 |
1 |
16 |
2 |
19 |
|||
|
Grand Total |
6 |
3 |
2 |
110 |
1 |
6 |
128 |
145. Deputy Michael McGrath asked the Minister for Finance the yield from inheritance tax in each of the years 2011 to 2016; and if he will make a statement on the matter. [33780/17]
View answer146. Deputy Michael McGrath asked the Minister for Finance the approximate number of inheritance cases that resulted in a liability for capital acquisitions tax in each of the years 2011 to 2016; and if he will make a statement on the matter. [33781/17]
View answer147. Deputy Michael McGrath asked the Minister for Finance the cost of agricultural relief, business relief, favoured nephew status and dwelling house relief against capital acquisitions tax; the number of claims received for each of these schemes in each of years 2011 to 2016, in tabular form; and if he will make a statement on the matter. [33782/17]
View answer171. Deputy Aindrias Moynihan asked the Minister for Finance the amount of inheritance tax collected in each of the past five years for each of the bands A, B and C, in tabular form; and if he will make a statement on the matter. [34202/17]
View answer172. Deputy Aindrias Moynihan asked the Minister for Finance his plans to reduce the inheritance tax burden for immediate family in bands A and B. [34203/17]
View answerI propose to take Questions Nos. 145 to 147, inclusive, 171 and 172 together.
I am informed by Revenue that information in relation to yield received from Capital Acquisitions Tax, which includes Inheritance Tax, can be found on the statistics page of the Revenue website at http://www.revenue.ie/en/corporate/information-about-revenue/statistics/receipts/receipts-capital-acquisitions-tax.aspx.
In addition, the tables at http://www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/costs-expenditures.aspx contains cost estimates and numbers claiming for a wide range of tax expenditures including agricultural relief, business relief and dwelling house relief for 2011 to 2015 and for favoured nephew status from 2011 to 2016. The report will be shortly updated with outstanding figures for 2016.
The following table shows the number of inheritance cases with a liability for inheritance tax, and the tax received, for years in question, broken down by groups A (children), B (close relative), and C (other relationship).
|
Year |
Yield from Group A
€m |
Numbers from Group A |
Yield from Group B
€m |
Numbers from Group B |
Yield from Group C
€m |
Numbers from Group C |
|
2011 |
- |
733 |
- |
6,249 |
- |
2,723 |
|
2012 |
81.38 |
884 |
129.69 |
6,434 |
43.23 |
2,693 |
|
2013 |
92.71 |
1,097 |
131.34 |
6,626 |
33.48 |
2,443 |
|
2014 |
124.62 |
1,564 |
163.98 |
7,369 |
39.35 |
2,718 |
|
2015 |
135.10 |
1,990 |
178.91 |
8,063 |
51.12 |
2,934 |
|
2016 |
138.88 |
2,024 |
191.28 |
7,992 |
55.23 |
2,984 |
The Category A threshold was increased in the 2015 and 2016 Budgets and the Category B and C thresholds were increased in the 2016 Budget. Any further changes to these thresholds will be considered in the context of the 2017 Budget.
148. Deputy Michael McGrath asked the Minister for Finance the number of residential mortgages classified as sub prime; the number of sub-prime lenders currently operating in the market; the value of sub-prime mortgages outstanding; the rate of arrears on these mortgages; the actions specific to the sub-prime sector which are being taken to address arrears; and if he will make a statement on the matter. [33783/17]
View answer198. Deputy Michael McGrath asked the Minister for Finance the number of residential mortgages here that are classified as sub prime; the number of sub-prime lenders currently operating in the market; the value of sub prime mortgages outstanding; the rate of arrears on these mortgages; the actions specific to the sub prime sector which are being taken to address arrears; and if he will make a statement on the matter. [34291/17]
View answerI propose to take Questions Nos. 148 and 198 together.
The Central Bank advises that there is no such regulated category as “sub-prime lender”. However, Retail Credit Firms are authorised to provide credit, in the form of cash loans, directly to individuals and some firms authorised in this category provide housing loans. Retail Credit Firms have been subject to regulation by the Central Bank since 1 February 2008 and a register of all Retail Credit Firms is available on the Central Bank website at the following link:
http://registers.centralbank.ie/DownloadsPage.aspx .
Retail Credit Firms are not subject to the same prudential supervisory regime as licensed credit institutions but they are subject to the same Consumer Protection framework requirements including the Central Bank’s statutory Consumer Protection Code and Code of Conduct on Mortgage Arrears (‘CCMA’).
The CCMA - https://www.centralbank.ie/docs/default-source/Regulation/codes/gns-4-1-7-2013-ccma.pdf?sfvrsn=4 - sets out requirements for all mortgage lenders, including Retail Credit Firms, dealing with borrowers in arrears or pre-arrears on a mortgage loan which is secured by their primary residence. It provides a strong consumer protection framework to ensure that borrowers struggling to keep up mortgage repayments are treated in a fair and transparent manner by their lender and that long term resolution is sought by lenders with each of their borrowers experiencing mortgage difficulty.
The Central Bank engages with Retail Credit Firms in relation to their treatment of borrowers under the Mortgage Arrears Resolution Process (MARP), as provided for in the CCMA. The MARP sets out the steps which lenders must follow:
Step 1: Communicate with borrower;
Step 2: Gather financial information;
Step 3: Assess the borrowers' circumstances; and
Step 4: Propose a resolution.
The Central Bank’s Residential Mortgage Arrears and Repossessions Statistics provides detailed data on the number and performance of ‘Residential Mortgages held by Non-Bank Entities’. The most recent available data, which relates Q1 2017, is attached and the information on "non-bank" entities is set out in tables 4 and 5 - https://www.centralbank.ie/docs/default-source/statistics/data-and-analysis/credit-and-banking-statistics/mortgage-arrears/2017q1_ie_mortgage_arrears_statisticse2a9c5134644629bacc1ff0000269695.pdf?sfvrsn=8.
