Macra na Feirme and IFAC Partner for Young Farmers Development Groups in Ireland and Europe
26 November 2009
Macra na Feirme has announced a new partnership with IFAC Accountants with the intention of delivering more expertise and advice to Ireland’s young farmers. IFAC Accountants will be Macra’s ‘partner for young farmers development groups in Ireland and Europe’. Expertise across a range of areas including financial management, taxation, business planning and budgeting will be made available to young farmers throughout Ireland in 2010 through a series of young farmer meetings.
The partnership will also facilitate and coincide with Macra joining CEJA, the European Council of Young Farmers. This is seen as an important step for Macra as the debate upon the future of Europe’s Common Agricultural Policy post 2013 gets underway. Furthermore, many developments that will affect the future of Irish agriculture emanate from Brussels; therefore Macra has decided to increase its level of participation on the European stage.
Speaking at the launch, Macra’s national president Michael Gowing said that this was a significant step for the organisation as it provided access for young farmers to a tremendous body of expertise from IFAC Accountants coupled with providing much greater access to the institutions of the European Union through membership of CEJA.
IFAC Accountants’ CEO/Chairman Willie Fahey said ‘Macra Na Feirme is a founder member of IFAC Accountants and our strategy is to increase awareness of the differentiated and unique taxation, accounting and financial management service we provide to farmers and rural businesses. A voice in Europe is important for the future of Irish Farming and we are proud to become Macra’s partner for young farmer development groups in Ireland and Europe’.
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IFAC Accountants
IFAC Accountants is owned by farmers with a Board of Farmer Directors. IFAC is a cooperative set up 35 years ago to offer an alternative to other practices and ensure that Irish Farmers have access to a value for money bookkeeping, accountancy and taxation service tailored to the needs of farmers. This is delivered through a nationwide network of 22 Branch Offices and 160 Bookkeepers. Branch Managers and accounts staff are experts on farm taxation and are supported by a national backup team including Joe Hickey National Taxation Manager and Declan McEvoy Senior Tax Consultant.
IFAC over the years have advised and worked with IFA and Macra to have legislation changed and to secure relief’s which are individual to farmers e.g. Standard Stock Relief, Young Trained Farmers Stock Relief, Compulsory Disposal Stock Relief, Compulsory Disposal Averaging, Averaging of Farm Profits, Beet Restructuring Aid Averaging, improvement in taxation on Milk Production Partnerships, Farm Building Pollution Control Allowance, Milk Quotas Capital Allowances, Leasing Exemption on Farmland, Gift and Inheritance Tax Agricultural Relief, Gift Tax and Inheritance Tax Business Relief, Capital Gains Tax Retirement Relief, Transfer of land within family, CGT Retirement Relief on sales of up to €750,000 outside the family, CGT Special Relief on dissolution of Farm Partnerships, CGT and Stamp Duty Relief on transfer of sites to children. Special VAT Regime for Farmers, the taxation of Single Farm Payment Entitlements under Income Tax, Capital Gains Tax, Gift and Inheritance Tax, Stamp Duty and Value Added Tax. Stamp Duty for Young Trained Farmers, Stamp Duty Farm Consolidation Relief and Farming as a Limited Company.
IFAC communicates with its clients the implications of taxation changes and best advice on dealing with them through a series of newsletters annually.
In September 2009 IFAC in association with IFA and The Farmers Journal launched a booklet on financial planning with special emphasis on bank negotiation in a time when cash on most farms is tight.
CEJA
CEJA, the European Council of Young Farmers, is the voice of Europe’s next generation of farmers to the European institutions. CEJA’s main objective is to promote a younger and innovative agricultural sector across the EU 27 and to create good working and living conditions for young people setting up in farming and those who are already “Young Farmers”. CEJA achieves this by acting as a forum for communication and dialogue between young farmers and European decision makers. CEJA comprises 27 young farmer organisations from 21 EU member states representing over 1 million farmers. Macra na Feirme has had two Presidents of CEJA, Larry Fallon (CEJA President 1991 – 1993) and Seamus O’Brien, (CEJA President 1980 -1983) both former Macra na Feirme National Presidents.
