Tax Planning

Make your taxes less taxing

The world of tax is complex, and many businesses end up paying more than they need to. In managing your tax affairs, we focus on maximising not only your profits, but the time you have available for everything else. Because our job is to help you to get on with yours.

Paddy Cowman, Tax Director

It starts with a conversation

The first thing we do is listen. We make sure we have a full understanding of how you operate and a full grasp of all your personal circumstances. Only then do we recommend what taxation structure would be most appropriate (and least costly) to your business.

As the experts in taxation for farms and rural businesses, we’ll bring a wealth of experience to your own situation, however unique it is. We’ll not only identify the tax reliefs you qualify for, we’ll assist you if you run into any issues when applying for them, ensuring you get every ounce of value from your farm business.

And continues with confidence

So many of our clients tell us of the sense of relief and freedom they experience when we help them get to grips with their tax matters. On a practical level, this includes us talking you through the best systems and processes for managing recurring tasks, such as VAT payments and managing VAT cashflow. On an emotional level, this means a massive shoulder drop!

It’s also comforting to know that we’re only a phone call away in the case of a revenue audit. We’re there to support you and can take the stress and worry out of what can be a major concern to farmers.

VAT

VAT is one of the more time-consuming tasks that comes with your accounting responsibilities. We can talk you through the best optimum processes and systems for managing VAT payment and optimising your VAT cashflow.

Revenue Audit Support

If you’ve been selected for an audit, we can help you get fully prepared to present your accounts to the Revenue Commissioners.

Farm Structures

The right structure changes everything. We’ll walk you through all of your options, and when we’ve agreed the best way forward, we’ll get you registered and ready to go.

Succession planning

While a farm is a valuable asset that traditionally passes from generation to generation, our research shows that the vast majority of farmers don’t have a formal succession plan. If this sounds familiar, don’t worry, you’re not alone. Any conversation about who will own the family farm has the potential to be difficult, but it’s a conversation that needs to happen. We’ve helped thousands of farming families through this process over the past 45 years, and we can help you too. We can do this at any stage, but sooner is always better. The earlier you start talking about succession planning, the better the outcome for yourself, your family and your farm.

The right structure unleashes your farm's full potential, improves your lifestyle and safeguards your family's future

Farm structure really matters.

The business structure your farm operates under can have a major impact on your income, your work/life balance and even your succession options.

We know that taking time out to review your structure seems like a hassle, but it could save you hassle in the long term. At ifac, we’ve been helping farmers make beneficial decisions for 45 years, and we can help you too. Our advice is simple – find the right structure for your circumstances and then let us take care of the rest.

Learn more about Farm Structure