Ifac advises Offaly farm businesses that trade through a limited company to examine their options for succession
When one thinks of succession, one is looking at transferring over the business to the next generation. A complication to succession is the emergence of the farming company and the issues it brings up. No different from any succession conversation, the aim is to keep the asset and the business as intact as possible and to […]
Ifac advises employers to keep their records in order and to budget for new statutory sick pay
This January, Ifac, Ireland’s farming, food and agribusiness specialist professional services firm, is advising employers to make sure their records are kept in order when it comes to employee sick leave and to budget for the additional payroll costs for the new statutory sick pay. New legislation comes into effect this month which aims to […]
Higher profits make tax planning more important than ever on Offaly farms this year, says ifac
Ifac, Ireland’s farming, food and agribusiness specialist professional services firm, is advising Offaly farmers to plan ahead when it comes to income tax bills for 2022. The following article, or excerpts from it, is attributable to James Farrell, Partner at ifac’s Tullamore office. Looming Large Income Tax Bills For 2022 Overall, 2022 has been a reasonably […]
Labour shortages are continuing to impact the agri-food sector, says ifac
Ifac, Ireland’s farming, food and agribusiness specialist professional services firm, is reminding Tipperary employers of the criteria for employment permits. As many as two in every three business owners in the agri-food sector find it difficult to hire employees according to ifac’s 2022 Food & Agribusiness Report. Lack of available skills, low interest in roles, high salary […]
Ifac reminds employers about incentives for electric vehicles
With the Government’s ambitious target to have almost a million electric vehicles on the road by 2030, Ifac, Ireland’s farming, food and agribusiness specialist professional services firm, is reminding farmers and other business owners that generous grants and incentives are available for employers who provide their employees with electric vehicles. The advantages of electric vehicles include […]
Would you like a long weekend every week? – Opinion piece
The war for talent is heating up. It feels like every day begins with a new jobs announcement. Employers are competing for talent like never before and driving unsustainable wage inflation in the economy. Competition creates innovation, and the next battleground for talent may well be working time. Who will be the first large-scale employer […]
Ifac urges farmers to reduce pressure on cash flow now to mitigate impact of rising costs next year
Ifac, Ireland’s farming, food and agribusiness specialist professional services firm is encouraging farmers to prioritise budgeting and cash flow management to mitigate the impact of rising costs and tight profit margins. From a financial perspective, 2021 has been a good year on most Irish farms. Commodity prices are up for milk, beef, lamb and […]
Beware of new tax implications for receiving gifts and inheritances warns ifac
Ifac, Ireland’s eighth-largest professional services firm and specialist for the farming, food and agribusiness sectors, is warning beneficiaries of gifts and inheritances of new tax implications. Ifac Head of Tax, Declan McEvoy said: “A change in how the value of gifts or inheritances of free money is calculated for Capital Acquisitions Tax purposes will have implications for […]
Ifac reminds farmers to take advantage of the Organic Farming Scheme
Farmers considering an application to the Organic Farming Scheme have until the 30th of April to do so, following the re-opening of the scheme earlier this month with an additional budget of €4 million for 2021. This additional funding was confirmed by Minister of State at the Department of Agriculture, Food and the Marine, Senator Pippa […]
Half of Irish farmers concerned about future – 9 out of 10 farmers want to reduce carbon footprint on farms
Today, ifac, the farming, food, and agribusiness professional services firm, is releasing the findings of its annual, national Farm Report. These insights are a combination of ifac collated financial data and results of the most comprehensive farmer survey ever conducted in Ireland. Ifac’s 2020 Farm Report combines the views of almost 1,500 Irish farmers with a comprehensive […]
