Farm transfer options to be discussed at Galway meeting
The issue of farm transfer and succession will be up for discussion at an information evening in Athenry, Co. Galway, tonight (Thursday, November 1).
The meeting, a joint event by Galway Irish Farmers’ Association (IFA) and Macra na Feirme, will see various figures from local farm organisations address the audience on the taxation pitfalls of transfer and succession – and how to avoid them.
The event will feature several speakers, including Austin Finn, programme manager of the Land Mobility Service; Tom O’ Farrell of accountancy firm IFAC; chairman of Galway Macra David Costello; Anne Mitchell, Galway IFA chairperson; and local solicitor David Quinn.
Speaking to AgriLand, Austin Finn said: “It’s all about raising awareness about the options and tax implications of succession.”
He added that the priority for farming families, who are facing into the mire of succession, should be to find a solution within the family first, before looking at other options.
Planning well in advance
Organisers are hoping the meeting will also emphasise the importance of families planning well in advance, should they go down the succession route.
As well as that, they hope that farmers, both young and old, can familiarise themselves with the process of transfers, so that both older and younger farmers can benefit.