Farmers and other family members from across Northern Ireland are turning out in droves for an ongoing series of taxation and succession planning seminars that are prompting lots of ‘lively’ discussions.
The take-home messages are: the importance of financial budgeting and forecasting; the need to act now to develop a succession plan; the necessity of making a will; plus, a range of other tax and debt management tips.
The meetings have been arranged jointly between the College of Agriculture, Food and Rural Enterprise (CAFRE) and Rural Support under the Farm Family Key Skills initiative.
‘Lively questions and answers’
So far, the seminars have focused on business resilience and risk management, with presentations from a broad range of speakers including representatives from Rural Support, qualified accountants and solicitors.
Kenneth Johnston, industry training programme manager at Greenmount Campus, said: “The seminars have been very well received and have ended with lively question and answer sessions. These provide an opportunity for speakers to highlight key areas which farmers should address with their own accountant and solicitor, on a regular basis.”
David Harris from Toomebridge, who attended the first seminar at Greenmount Campus added: “It was great to be updated on these important issues from a range of excellent speakers who obviously had a very good understanding of the issues facing farmers.”
The next seminar will be held tonight (December 7) at Magherabuoy House Hotel, Portrush, Co. Antrim. The event gets under way at 8.00pm, with doors opening at 7.30 pm.
Further dates will be released in the New Year.
The seminars are free to farmers, members of the farm family and employees. Grandparents, uncles, aunts, brothers and sisters within farm families would also benefit from attending a seminar.
For further information telephone the programme delivery agent Rural Support on: 028 8676 0040.