2015 will be a very important year in Irish farming, IFAC Accountants is holding a nationwide series of seminars in conjunction with IFA and FBD Financial Solutions focussed on the key information needed by farmers to make good strategic decisions on tax planning, agri schemes and financial planning in 2015. Don’t miss this important opportunity, all are welcome to attend.
Head of Tax,
IFAC National Tax Department
Budget 2015 Incorporated a significant amount of the recommendations in the Agri-Tax Review.
The proposed changes will encourage succession/land mobility in that its new incentivises the Early Transfer of land or the Use of Land by active farmers.
An active farmer is defined in the Revenue Budget Summary as a person who spends not less than …
I suspect most farmers are the same;
I always find a reason not to knuckle down and laboriously work out the costs, gross margins and net profit of the individual enterprises on the farm. I am confident enough I could do it if I applied myself but I am ashamed to admit, I never have.
But, the roots of good farming have …
By Stuart Crowley, Mallow IFAC Branch Manager
As a qualified Accountant in one of the most intensive dairy regions in Ireland, I have experienced planning for dairy expansion both for those currently in expansion phase and those reviewing their options.
The main reason for expansion is for increased profits. Considerations requiring to be assessed before deciding to expand includes cash-flow implications, funding the expansion, resource …
By Declan McEvoy
Head of Tax,
The Minister for Finance has announced that the 7 year Capital Gains Tax Relief on property purchased between 7th November 2011 and 31st December 2014 will not be renewed.
Does the relief apply to farmland?
Yes, The relief applies to the acquisitions of farm land or buildings situated in any of …