IFAC accountants held a series of post-budget information meetings around the country. Meetings were held in Cork, Limerick, Tipperary and Offaly on Wednesday.

Over 70 people attended the Tipperary meeting in the Racket Hall, Roscrea, as IFAC’s Bernard Banaghan, Tom Ryan and Billy Holland went through the changes outlined by Minister Noonan in the budget.

According to Tom Ryan, the main concerns raised by farmers so far have been in relation to the proposed changes to income averaging, leasing, farm succession and the effect leasing may have on farm succession.

A number of farmers asked questions in relation to the changes to farm income averaging and whether the process would be retrospective from 2014 or it would only begin from 2015.

Ryan replied that this is likely to come in 2015, but IFAC would have to wait for the publication of the Finance Bill to see exactly how it will be implemented.

Farmers were understandably eager to hear a detailed account of the new measures introduced by the minister incentivising long-term leasing.

IFAC’s Billy Holland went through the new measures in the budget aimed at improving land mobility and making long-term leasing more attractive for farmers than 11-month conacre.

“The emphasis is now on medium- to long-term leasing,” said Holland.

“There is no penalty for conacre, but there is no incentive either.”

However, a number of farmers raised concerns that the greater emphasis on leasing will negatively affect farm succession.

IFAC’s Bernard Banaghan said the devil may be in the detail, but we will have to wait for the publication of the Finance Bill.

He also welcomed the government’s decision to maintain the 31 October tax return deadline, which he said would have severely affected farmers if moved back to August.