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Farming

We at Ansell Ryan Young have a long standing background and in depth knowledge of farming and farm business (and in the provision of farm taxation services and related farm accounts).

Farmer clients form a significant part of our client base. Our farm clients, based throughout Leinster operate across a full range of agricultural sectors (a broad church). Dairying, Tillage, Dry Stock and Mixed Farming.

We feel that farmers do need specialist advice (and benefit from such specialist advice). There can be significant opportunities in the area of safeguarding farm assets, maximising opportunities and alternative tax options. Opportunities (and indeed pitfalls) available to Farmers which are unique and specific to the agricultural sector.

Opportunities for you the farmer to:

  • Develop and expand your farming enterprise in a financially cohesive and structured way, for your maximum benefit.
  • In relation to annual taxes, ensure that you benefit from tax options which are unique to farming businesses.
  • In relation to farm transfer/ inheritance, opportunities to plan and structure these matters in a strategic manner beneficial to you and your family.

Not all accountants are able to see such opportunities and to provide related advice. This possibly arises from a lack of knowledge of the issues that arise in farming business as compared to other businesses; Issues unique and specific to the agricultural sector.

Our farm accounts and tax advice team is headed up by Gerard Young who is from a farming background. Gerard has an on-going interest in matters agricultural and rural. He has over twenty five years’ experience, working with farmers in tax and finance matters.

Questions that you as a farmer should ask yourself:

  • Are you confident that you currently receive necessary support and advice regarding the above matters?
  • Have the various options open to you as a farmer, regarding financial structures and tax planning been discussed with you by your advisors?
  • Do you feel that your advisor engages proactively in the areas that are of concern to you?
  • Does your advisor have a broad insight into, and an interest in the actual practicalities of farming, eg a knowledge of livestock,
  • descriptions and pedigrees, etc and farm terminology in relation to day to day practices, machinery, farm buildings etc?
  • As there can be significant tax breaks available to those in farming business, have such options been explored by you or your advisors?
  • Does your accountant understand Farming? Does he know your farm?

If your answer to any of the above is negative then you should contact Ansell Ryan Young. We will provide answers, solutions, advice and guidance to you ensuring that your individual and business needs are met.

Our undertaking to our farmer clients are:

Services Offered

  • Farmer income tax returns (and advance calculation of taxes for you).
  • VAT (for registered and non-registered farmers).
  • Tax planning (one year and longer term).
  • Assess the benefits and downsides of incorporation for farmers.
  • Land transfer/inheritance planning.

Call to arrange for an Initial free consultation on 059-9151932