FDC GROUP Agricultural Newsletter Spring 2014 www.fdc.ie FDC Accountants Tax Consultants Ltd. Management Accounts, Interim Accounts, Personal Taxation, V.A.T., P.A.Y.E., Bureau, Consultancy, Budgeting, Loan Negotiation/ Restructuring, Grants, Business I.T. Solutions, Agri-Consultancy. FDC Financial Services Ltd. Investment Management, Stock Broking, Pension Negotiation (Personal & Corporate), Savings Plans, Life Assurance, Mortgage Applications, Commercial Lending/Restructuring. FDC Tax Department Ltd. Income Tax Planning, Capital Acquisitions Tax/Estate Planning, Capital Gains Tax, Corporation Tax Planning, Corporate Structures, Company Formation, Other Consultancy. FDC & Associates. Auditing, Management Accounting, Consultancy, Payroll, Company Formation, Company Secretarial, Corporate Structures. In this issue... Farm Income Averaging, Is It For You? Why Is Life Insurance so Important? Budget 2014 – The Consequences For Agriculture Key Agricultural Commodity Graphs Cap Reform 2015 To 2020 Vacancies In Fdc Group FDC GROUP GENERAL MANAGER’S INTRODUCTION Jack Murphy - General Manager EU support of farming and rural Ireland has been clarified with the details of publication of Pillar 1 and Pillar 2 Grants and Subsidies. FDC’s service support function is available to assist clients in optimising all farmer/agri-business entitlements. Financing of farm enterprises remains critical. The average farmer, according to a recent Department of Finance survey, has bank debt of €78,000. There is a pressing need for long-term capital at competitive rates. The withdrawal of ACC from the market further illustrates the dependence on the remaining �Pillar Banks’ for vital medium and long-term lending facilities. It is essential that credit to farmers is affordable. The decision to retain the existing payand-file deadline is to be welcomed. We at FDC are ever mindful of our individual client’s annual schedule of Direct Payments, debt management and tax compliance. Any significant alteration of the existing deadlines in 2014 will prove highly disruptive. 2014 will also see a general review of taxation policy conducted by both the Departments of Finance and Agriculture. 2013 marked the 40th anniversary of the formation of FDC coinciding with Ireland’s accession to the EEC. Many of the benefits due to accrue from membership were quickly dissipated by the immediate oil crises, interestrate rises and gross economic mismanagement of successive governments. FDC has supported the modernisation of Irish Agriculture through its everexpanding range of services and extensive office network. Fundamental to our growth has been the delivery of personalised professional services to our clients in meeting the challenges that continue to arise. I thank you for your continued support and wish you every success in the year ahead. Jack Murphy Appointments Robbie Barry Pat Donnelly Robbie Barry joined FDC Financial Services in 2013 with extensive experience as a Qualified Financial Advisor (QFA) holding a Diploma in Pensions (LIAP(d)) through the LIA. A graduate of Waterford institute of Technology, he obtained a Diploma in Business Studies and Financial Services and Certificate in Business Studies. Pat Donnelly joined FDC Financial Services in January 2014. He is a Qualified Financial Advisor and a member of the Institute of Bankers. Robbie provides tailored personal financial advice in all areas of Wealth Management including Pension, Protection and investment. 2 Pat has in excess of 25 years experience in Wealth Management & joins FDC having previously worked as a Senior Financial Consultant for AIB Bank. Agricultural Newsletter Spring 2014 FARM INCOME AVERAGING, IS IT FOR YOU? Alan Barrett - Consultant FDC Carlow Instead of being charged to tax on their farming profits in the normal way, full-time farmers may elect to be charged on the basis of the average of the aggregate farming profits and losses of the three years ending in the year of assessment. Effectively, farmers are charged on one third of the profits over a three-year period. With the evident unpredictability of farming income due to variables such as weather, yield and prices farm income averaging offers farmers a legitimate means of reducing exposure to higher-rate income tax. For example, the average milk price in 2009 of 22.36c per litre rose to 33.11c per litre in 2011 generating a 50% increase in farm income and consequent increase in income tax liability. Many farmers elected to be assessed on an average of the three years in order to minimise their income tax bill liability. Rules governing farm income averaging •You must be a full time farmer to qualify. A full time farmer is described as an individual who is not: 1. At any time in the tax year carrying on another trade/profession either solely or in partnership. 2. At any time in the tax year a director or employee of a company and who controls directory in indirectly 25% of the company. • Once an election for averaging is made, a farmer must remain on averaging for a minimum of three years. • If the farmer wishes to revert back to the normal basis of assessment, the two years of assessment immediately before the final year of averaging are reviewed. • A farmer who avails of income averaging and enters into a Milk Production Partnership can continue averaging farm profits under the terms applicable if he or she had continued farming as a sole trader. • An election cannot be made where an individual has made a loss in any of the previous two years. 3 FDC GROUP Example of an individual opting for averaging. 2011 profits 2012 profits 2013 profits €23,000 €27,000 €45,000 €95,000 The 2013 average profit would be €31,667 (€95,000/3). This would be a significant tax saving and also taking the individual’s 2013 profits out of the higher rate of tax. There is also a chance if profits are reduced in the later years to keep the individual out of the higher rate and thus achieve an overall tax saving. Electing out of averaging An individual may opt out of income averaging basis provided he has been assessed on the average basis for the immediately preceding three tax years. The immediately preceding tax years assessments are reviewed. loses out on income tax. Qualifying farmers should always be mindful that if they choose to elect for income averaging that they will save in the first tax year, however if their profits decrease then they will be exposed to a higher tax liabilities if profits subsequently decline. 2012 average profit 2011 average profit 2010 average profit Given the volatility of farming incomes it is essential to plan in order to minimise income tax liabilities. Our advice to farmers is to constantly monitor profitlevels in order to stay one step ahead. FDC accountants can assist you in determining the most tax-efficient outcomes and provide expert guidance well in advance of pay and file tax deadlines. €28,000 €25,000 €23,000 To get out of averaging the individual must pay tax on profits of €3,000 in 2011 (€28,000-€25,000) and €5,000 in 2010 (€28,000-€23,000) Income averaging in the above scenarios show where the farmer both saves and 4 rather than older cows. Secheifer prices have increased age Better HE qualityBB HO 350kg FR bull.AA LM cattle recorded over OLQJVDOHIRUDOOEUHHGVDW OLQJVDOHIRUDOOEUHHGVDW FDOYHVDWIRRW0L[WXUHRI Forward heifers are sellond calvers sold from €1,200 slightly inNumber the past week. In- 1,150FDOYHVDWIRRW0L[WXUHRI bulls from animals 714are selling 156 120 €2.40/ 43 33 1pm. 1pm. Also, Also, dispersal dispersal sale at at spring spring and autumn and autumn calving. calving. ing from €2.10/kg to €2.20/ the past week to €1,500, while older cows creased demand fromsale feedlot Age (days) 20 kg to 20€2.60/kg. 19 Weanling 19 21 23 QRRQRIVXFNOHUFRZV QRRQRIVXFNOHUFRZV 0RXQWEHOOHZ)UL)HE  0RXQWEHOOHZ)UL)HE kg for heifers from 500kg to sold from €900 to €1,200. RichEX\HUVDQGODUJHVFDOHoQLVK300kg285.03 to 400kg Value (€) 74.81heifers 85.46from 227.28 323.65 318.76 VFDQQHGWR%%EXOOFDOYLQJ 6SHFLDOEXOODQGKHLIHU 6SHFLDOEXOODQGKHLIHU while better quality U ard commented that older ers areVFDQQHGWR%%EXOOFDOYLQJ driving the have133.88 seen a300.87 slight 359.47 easing 600kg, of Value (€) Toptrade 1/3 for 116.09 407.82 421.55 Feb-mid Feb-mid April. April. ZHDQOLQJVDOH$OVRVSHFLDO ZHDQOLQJVDOH$OVRVSHFLDO grades are selling from €2.35/ 200kg to 300kg heifer. cows were not met with as QA lots. Value (€) Bottom 1/3 to the tune 208.92 of €18 to 37.16prices 40.63 148.23 213.57 216.00  &DUORZ0RQ)HE  &DUORZ0RQ)HE GU\FRZVDOH)UL0DUFK GU\FRZVDOH)UL0DUFK kg to €2.45/kg. Lighter heifDairy sales are seeing strong a demand as heifers. Overall numbers per head, although Diff since lastremain week -6.65€23 -6.78 -21.79 -18.95 this -14.46 40.76 &DOYHVZHDQOLQJVFRZV &DOYHVZHDQOLQJVFRZV Special Special store store bullock bullock and and ers from 400kg to 500kg are a strong demand from North- All calved cows were a better DOH$OVRHQWU\RI3%5 low right across the country. should be temporary . Lighter EXOORFNVDQGKHLIHUV EXOORFNVDQGKHLIHUV KHLIHUVDOH KHLIHUVDOH steady trade and are selling ern buyers, particularly at trade than in-calf cows and FDOIKHLIHUVIRUVDOH Average quality are sellinginfrom €2.40/ The pastbullocks week has seen  atypes large increase bull calf Frie .LOFXOOHQ0RQ)HE  .LOFXOOHQ0RQ)HE 1HZ5RVV)UL)HE €2.50/kg 1HZ5RVV)UL)HE atprices. €2.20/kg (€990 for 450kg) special sales and in border heifers. %DOOLQD7XH)HE8VXDO from 500kg to 600kg are sellkg to for the average sian and Holstein bull calf prices have dropped andfor arethe selling :HDQOLQJVFRZVEXOORFNV :HDQOLQJVFRZVEXOORFNV Dairy Dairy sale. sale. average R grade heifregions. Prices are ranging There were 20 maiden DOHRI&DWWOH6KHHS ing from from €2.00/kg to €2.20kg, €75 to €85 per head. Calves are being sold younger than EXOOVDQGKHLIHUV:HG  .LOFXOOHQ:HG0DU  .LOFXOOHQ:HG0DUer. Better quality U grades mainly from €1,300 to €1,500 heifers sold on the day also SHFLDO6SULQJHU%UHHGLQJ with UEXOOVDQGKHLIHUV:HG grades selling from last year by a few days. Jersey bull calves are selling at €28 on 0DU6KRZDQGVDOHRIFRZV 0DU6KRZDQGVDOHRIFRZV General General cattle cattle sale.sale. are selling from €2.40/kg to for average quality lots. Sales data on which were met with a brisk HLIHU6DOH €2.30/kg to €2.40/kg. Lighter average. Angus bulls areÂselling from €150 to €300 (average EXOORFNVEXOOVDQGKHLIHUV EXOORFNVEXOOVDQGKHLIHUV %RUULV6DW0DU6KRZ  %RUULV6DW0DU6KRZ trade. Prices ranged from 7KXUOHV:HG)HE Dairy stores continue to be a steady €227). Heifers are selling from €200 to €215. Continental calves 7KLVJRRGTXDOLW\)ULHVLDQoUVWFDOYHUZHLJKLQJ  7UDOHH0DUW0RQ)HE  7UDOHH0DUW0RQ)HE DQGVDOHRIZHDQOLQJVFRZV DQGVDOHRIZHDQOLQJVFRZV 7KLVOLJKWHU)ULHVLDQKHLIHUZHLJKLQJNJDQG €750 to €950 per head. RichVXFNOHUVDOHWRLQFOXGH trade andare areselling sellingfrom mainly Bull calf prices from ICBF: Week ending 15/02/2013 €210 to €420 depending on quality. 7KLVJRRGTXDOLW\)ULHVLDQERUQ-XQHDQG 7KLVJRRGTXDOLW\)ULHVLDQERUQ-XQHDQG 7KLV)ULHVLDQKHLIHUZHLJKLQJNJDQGFDOYHG 7KLV)ULHVLDQKHLIHUZHLJKLQJNJDQGFDOYHG $QQXDOIDWVWRFNVKRZ $QQXDOIDWVWRFNVKRZ EXOORFNVEXOOVDQGKHLIHUV EXOORFNVEXOOVDQGKHLIHUV ERUQ)HEUXDU\VROGIRUø NJDQGERUQ-DQXDU\VROGIRUø ard said that most heifers XFNOHUFRZVZLWK&+/,0 from €2.00/kg to €2.15/kg. HO FR AA HE BB LM ZHLJKLQJNJFDOYHGGD\VVROGIRUø ZHLJKLQJNJFDOYHGGD\VVROGIRUø VL[GD\VERUQ-DQVROGIRUø VL[GD\VERUQ-DQVROGIRUø cattle recorded over Number animals on offer were two years of DOYHVDWIRRW0L[WXUHRI Forward heifers are sell1,150 714 156 120 43 33 age and of high quality, but pring and autumn calving. ing from €2.10/kg to €2.20/ the past week Age (days) 20 20 19 19 21 23 he added that even lighter 0RXQWEHOOHZ)UL)HE kg for heifers from 500kg to Value (€) 74.81 85.46 227.28 285.03 323.65 318.76 and younger heifers were a SHFLDOEXOODQGKHLIHU 600kg, while better quality U Value (€) Top 1/3 116.09 133.88 300.87 359.47 407.82 421.55 strong trade. HDQOLQJVDOH$OVRVSHFLDO grades are selling from €2.35/ 200kg to 300kg heifer. Value (€) Bottom 1/3 37.16 40.63 148.23 208.92 213.57 216.00 Although price \FRZVDOH)UL0DUFK kg to €2.45/kg. Lighter heif- Under Dairy sales are seeing Under Under 30 months 30premiums months Under 30 months 30 months Diff since last week -6.65 -6.78 -21.79 -18.95 -14.46 40.76 were available for high pecial storeers bullock and from 400kg to 500kg are strong demand R Grade R Grade factory factory heifers heifers (cent/kg) DW incl DWVAT incl*VAT * EBI, Average price per pric R Grade R Grade factory factory bullocks bullocks (cent/kg) (cent/kg) DW incl DW VAT incl *(c/kg) VAT * from RNorthGrade R Grade factory factory cowsprice (cent/kg cowsfor(cent/kg DW) incl DW)VAT incl VAT Averag Average price for (cent/kg) 300-400kg weanling bull (c/kg) Average Average price for a 500-600kg steer Average 400-500kg heifer (c/kg) yield and pedigree, Richard250 250 270 HLIHUVDOH steady trade ern buyers, particularly 500 500 270 410 410 at250 465 465 250and are selling The past week has seen a large increase in480 bull 480 calf prices. Frie- said that heifer and cow qual260 1HZ5RVV)UL)HE at450 €2.20/kg (€990 for 450kg) special sales and 390 in border 450 240 225 225 260 390 240 2013 2013 sian 250 selling 230 and Holstein bull calf prices have dropped 435the 435 230 ity was the main driver of 200 200 250 airy sale. for 460 are 460 and average R grade heifregions. Prices are 370ranging 370 220 240 240 2013 younger from €75 to €85 per head. Calves 2013 are being sold than price on the day. Commission 420 420 quality 220 2013 440 175 175 440 .LOFXOOHQ:HG0DU er. Better U grades mainly from €1,300 to €1,500 230 350 210year by a few days. Jersey bull calves are selling230 2012 2012350 last 405 405 210 at €28 on rates are €20 to the 2013 2013 150 2014 150 220 420 420 buyer and eneral cattle sale. are selling from €2.40/kg to for average quality lots. 220 200 2012 2012 330 330 average. Angus bulls are selling from 390 2014 390 2014 200 €150 400 to2012 €300 (average 400 2014 2014 2014 2012 2012 2014 210 190 seller for calved cows and %RUULV6DW0DU6KRZ 20121252013125 210 2014 2012 375 375 190 310 2013310 €227). Heifers are selling from €200 to €215. Continental calves heifers and €10 to the buyer100 100 200 180 380 200 QGVDOHRIZHDQOLQJVFRZV 2014 360 360 Farmers Journal S to 22€420 February 2014on380 180 2014 2014 Bull calf prices from ICBF: Week ending 15/02/2013 290 Irish 290 are 170selling from €210 depending quality. 75 75 190 360 190 2014 360 7KLVJRRGTXDOLW\)ULHVLDQERUQ-XQHDQG 7KLV)ULHVLDQKHLIHUZHLJKLQJNJDQGFDOYHG and seller for maiden heifers. XOORFNVEXOOVDQGKHLIHUV 345 345 170 180 180 160 270 270 50 340 340 HO FR AA HE BB LM ZHLJKLQJNJFDOYHGGD\VVROGIRUø VL[GD\VERUQ-DQVROGIRUø 330 330 160 — Nathan Tuffy 50 170 170 150 250 250 25 25 320 320 Number animals 1,150 714 156 120 43 33 140 315 315 160 150 160 0 150 0 300 300 150 300 (days) 300 140 Age 20 20 19 19 21230 230 23 130 Jan Feb JanMar Feb Apr Mar May Apr Jun May Jul Jun Aug Jul Sep Aug Sep Nov Oct Dec Nov JanMar Feb Mar Apr May Jun Jul Sep Aug SepNov OctDec Nov Dec DecJan Feb JanMar Feb Mar Apr JanMar Feb Mar Apr May Jun Jul Sep Aug Sep OctDec Nov Dec DecJan Feb Jan Feb Mar Apr May Jun JulOct Aug Sep OctDec Nov DecJan Feb JanApr FebMay MarJun AprJul MayAug Jun Jul Oct Aug Sep Oct Nov JanApr FebMay MarJun AprJul MayAug Jun Jul Oct AugNov Sep Oct Nov Jan Fe Value (€) 74.81 85.46 227.28 285.03 323.65 318.76 * 2010-11 2010-11 price price the isbase the price base133.88 including price including the in-spec the in-spec quality quality assurance assurance bonusbonus Value (€) *Top 1/3 is 116.09 300.87 359.47 407.82 421.55 Accurate mart prices, only in the Irish Farmers Journal Agricultural Newsletter Spring 2014 7,515 KEY AGRICULTURAL COMMODITY GRAPHS YearlyComparison LivestockWatch LivestockWatch Factory Factory bullocks: bullocks: Steers Factory Factory heifers: heifers: Weanling Bulls Factory Factory cows cows Heifers Dairy Dairy bull Weab BUSINESS Farming index: The weekly guide to farming by YearlyComparison h Value (€) Bottom 1/3 37.16 40.63 148.23 208.92 213.57 -21.79 -18.95 -14.46 Average pricefactory for 300-400kg weanling (c/kg) R Grade cows (cent/kg DW)heifer incl VAT 216.00 Under 30 months 40.76 (€/tonne) (€(cent/kg) /tonne)DWsteer R Grade factoryprice heifers incl (c/kg) VAT * Average price per at Bandon/Blessington Average for 500-600kg Average pricehead for 400-500kg heifer (c/kg) Est forward price for Mar/May: €229.5/tonne Est forward price for Mar/May: €200/tonne 270 410 320 250 250 500 250 320 The Frie260past week has seen a large increase in bull calf prices. 2012 225 300 240 480 240 300 390 2012 250 and Holstein bull calf prices have dropped and are selling230 sian 230 200 280 460 280 370 240 €75 to €85 per head. Calves are being sold younger than 220 2013 from 220 2013 260 175 260 440 230 350 2012 210 2014 2012 210 last year by a few days. Jersey bull calves are2013 selling at €28 on 2013 2012150 240 2014 240 420 220 200 2012 2012 330 Angus bulls are selling from €150 to €300 200 average. (average 220 125 220 400 2014 190 2013 2013 20132012 210 2014 2014 2012 190 2013 200 310 200 €227). Heifers are selling from €200 to €215.2012 Continental calves 180 200 100 380 2014 180 rs Journal 22 February 190 2014 2014 170 290 from €210 to €420 depending on quality. are selling 180 2014 75 180 360 2013 170 180 160 270 160 160 50 160 340 170 150 140 140 250 25 140 320 150 160 120 140 150 230 0 120 300 130 J F M A M J J A S O N D J F M A M J J A S O N D Weanling Heifers er 30 monthsDiff since Factory cows-6.78 last week -6.65 lincl (c/kg) VAT * Factory heifers: Steers Rolled barley Dairy bullwheat calves Heifers Rolled BUSINESS OF FARMING Wea 270 260 250 240 230 220 210 200 190 180 170 160 150 65 DODQFHRISRZHUoUPO\LQVHOOHUV KDQGV YearlyComparison pNov OctDec Nov Dec Jan Feb JanMar FebApr MarMay AprJun MayJul JunAug JulSep AugOct SepNov OctDec Nov Dec Jan Feb JanMar Feb Apr MarMay Apr Jun May Jul Jun Aug Jul Sep Aug Oct Sep Nov Oct Dec Nov Dec Jan Feb Jan Mar Feb Apr MarMay Apr Jun May Jul Jun Aug Jul Sep Aug Oct Sep Nov Oct Dec Nov Dec Averag E 575 550 525 500 475 450 425 400 375 2014 350 325 300 275 J Jan Feb ng the in-spec quality assurance bonus day), with most plants paying Steers it to their advantage. Base Heifers Sunflower meal Lambs and hoggets: Week(ending 18/02/2014 €/tonne) €5/kg toprice €5.10/kg. Processorssteer quotes on Monday started at Average price for 400-500kg heifer Average for 500-600kg (c/kg) (c/kg)€207/tonne c/kg 680 Est forward price for Mar/May: appear to have lost the upper €4.70/kg but factory agents 310 270 250 hand and are no longer able were unable to source suf- 250 2012 620 260 240 290 240 to negotiate prices on their oFLHQWQXPEHUV$VDUHVXOW 250 230 230 own terms. base quotes have increased to 270 240 220 250 2013 560 220 Producers have also suc€4.80/kg at Kepak and Dawn 230 210 210 cessfully negotiated payment 230 2014 2014 Ballyhaunis and 2012 €4.75/kg at200 2014 AILEY Hoggets 20122012 Lambs220 200 to a higher carcase weight of Kildare and ICM for today 190 500 210 ENDS 2013210 190 24kg. Deals on haulage are (Thursday). 2013 200 180 190 2014 440 Farmers Journal S 22 February 2014 14 Farmers Journal S 22 February 2014 180 also er has dried up Irish available. The indicaSupplies are tight and a 170 Irish 2013 Lambs 190 170 2013 Hoggets and so too have 170 tions are that the trade is number of factory agents 160 150 180 mbers. Processors have conceded that hogget 150 380 160 likely to strengthen further. 2012 Hoggets 170 130 etermined to keep supplies are unlikely to in- 140 150 One western plant has re160 110 320 w €5/kg last week. crease in the short-term. The 130 140 portedly contacted a supplier J F M Jan Feb Mar A Apr M May J Jun J Jul A Aug S Sep OOct N Nov DDec150 to £4/kg (€4.80/kg Bulls to €4.85/kg Weanling Maize meal (€/tonne) Weanling HR excluding VAT)for depending on weanling bull (c/kg) Average price 300-400kg Est for Mar/May: €203/tonne Average price for 3E the plant and theforward numbersprice of 320 370 270 in-spec QA lambs for sale. 2602012 300 350 In Britain, prices have 250 330 moved280 on by 10c/kg to the 240 260of €5.24/kg 310 equivalent 230 2012 240VAT (£4.10/kg). 290 including 220 220 2014 270 Imports of new season lamb 210 2014 2013 IURP6SDLQDQGWKHoUVW 200 250 2002013 slaughtering of French La2014 180 190 230 caune lamb 180 160 (€6.40/kg) is add210 ing competition for market 170 140 190 space in the French trade. 160 120 170 IFA National ComJ Sheep F M A M J J A S O N150 D J BUSINESS OF FARMING BUSINESS OF FARMING BUSINESS e weekly Farming guide index: to farming The weekly Farming by theguide numbers index: to farming The weekly Grain by the guide markets: numbers to farming By AndyGra byD Jan Mar €5.20/kg Apr Mayfor JunQAJul Aug Sep Oct Nov Dec40,948 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb chairman Mar Apr May Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr M ere every bit as andFeb offered weekly kill totalled mittee JohnJun Lynsd to resist the hoggets on Monday morning. sheep, which is down 8% on late February/early March is increasing its QA premium key said that prices have imices of €4.90/kg to The advice to sellers is the same week in 2013. Imwith processors relying from 6c/kg to 10c/kg. proved at the meat plants and hen selling. to price around for the best ports from Northern Ireland heavily on specialised feedIn Northern Ireland, prices in the marts. He said with ’ perseverance has deal possible. Factories totalled 8,418 and are runers for throughput. ICM has (€/tonne) less competition from New (€/tonne) (€/tonne) (€UHPDLQoUPDQGVWDEOHZLWK /tonne) (€/tonne) (€are /tonne) (€/tonne) et actively courting new supning almost 4,000 head beprovided added incentive processors continuing to Zealand andEst no overhang forward price for Mar/May: €229.5/tonne Estan forward pricefor €229.5/tonne forward price Est forward price €458/tonne Est forwardof pricefor forMar/May: Mar/May:€229.5/tonne €458/tonne E e prices break the Est Est forward price for Mar/May: €200/tonne forward price for Mar/May: Mar/May: €200/tonne 320 320 320 575 575 575 320 320 ier. This week, one pliers and as producers are hind the same week in 2013. to existing and potentially quote £3.90/kg (€4.73/kg 2013 lambs, the outlook is 550 550 550 2012 2012 2012 300 300 300 300 300 up to a top price of rarely in such a strong sellTraditionally,2012 hogget numnew suppliers by announcing excluding VAT). Producers positive for the early lamb 2012 2012 525 525 525 300 300 esterday (Wednesyesterday (Wednesday) that it are selling lambs at £3.95/kg 280 280 280 2012 trade. 2012 280 ing position, they should use bers tend to get tighter in 280 260 260 2014 240 240 220 220 200 200 180 180 2014 160 160 140 140 120 120J F M A M J J J F M A M J J EPWATCH 2013 Grain prices: Futures wheat price (LIFFE) for Nov Gra Rolled Soyabean meal 2014 (£/t),wheat SPOT native wheat 2013 and 2014, SPO 201S barley 2014 and SPOT corn ex-port (€/t) bar Rolled barley wheat Soyabean meal Rolled Rolled Rolled wheat barley Commodities: By Peter Young 500 260 2014 260 475 240 2014 240 450 220 425 220 400 200 200 375 180 2014 180 350 160 160 325 140 140 300 120 275 120 M JJJ JJ FF MM AA M M 500 260 2014 500 Strong demand for feed co )DFWRU\ODPE This week 475 280 450 2013 425 VAT exc 2013 260 400 c/kg 375 375 Irish lamb in France 482 459 350 524 350 240180 240 British lamb 499 160 325 325 ICM Navan Ewes 190 140 200 300 30020 220 SPOT native Hoggets (+10 QA)220 452 tion is trading in 475 general at 120 275 275 AA SS OO N JJ 200 FF SPOT M M JJ JJ (€/t) A S O N D JJJ Camolin A N M A Anative M wheat J ICM 190 D N DD AA SSS O OO Ewes NN DDD 200 200at €270/t up €320/t475for 21% Beet pulp prices remain Hoggets (+10 QA)to 452 Butchers Hoggets 510 Corn 486 ex-port p (€/t) protein blends. ARTY €258/t on the spot market 180 180 a Kildarefor Chilling Ewes 210 Demand Journalremains strong K SPECIALIST Reproduced with kind permission of the Irish Farmers SPOT200 native barley (€/t) Overall feed sales Hoggets (+5) (+5QA) 475 have 452 distillers are at €268/t. Roll ersjournal.ie feed as farmers are forced (€/tonne) €/tonne) /tonne) (€(/tonne) (€/tonne) (Kepak €/tonne) 160 160 Athleague Ewes 200 190 ((€€/tonne) dropped considerably when barley (€199) and maize meE Est Estforward forward pricefor forindoors Mar/May:€297/tonne €203/tonne Est forward price €203/tonne Est Mar/May: Est forward pricefor forMar/May: Mar/May: €297/tonne Hoggets (+5 QA) 480 457 Estforward forwardprice pricefor forMar/May: Mar/May:€203/tonne €207/tonne €207/tonne to keep their price stock agers report in- 320 320 320 370 370 370 310 310 Kepak Hacketstown Ewes 200 190 140 140 FRPSDUHGZLWKoJXUHV dropped mpetition among 2012 2012 2012 2012 2012 300 300 the recent period of bad 300 350 350 350 over J 480F M457 A M (€206) J have J A 2012 S Oby €5/t NJ 290 290 Hoggets (+5 QA) ents for limited selling from €50 to €56 over *RRGTXDOLW\oUVWWRWKLUG on. Twin lamb lots are sellwith farmers being on January prices. 280 280 280 330 330 330 270 270 Dawn Ballyhaunis Ewes 200 better 190 2012 2012 weather. ZHOOoQLVKHG with the best quality lambs crop ewes carrying two ing from €140 for aged ewes 260 260 Hoggets (+6 QA)for260 480winter. 457 310 310 310 250 rising to €60 to €62 over. 250 prepared a long Rolled wheat prices are lambs are selling from €130 all the way to €200 for young Beef growing rations at Moyvalley Hoggets NQ NQ Grain have a slightFDQQRWEHYHULoHG Grain 240 240 290 290 markets 290 230 Fleshed 230 2014 lambs exceeding 2014strong ult, many report240 to €160 per head with lambewes and lambs at 2014 2014 210 across the quoted as €228/t, a €3/t 270 drop Ballon Meats EwesMany retailers 220 220 220 2014 270 270 2014 210 2014 210 Single ngthening by €2220 50kg are selling from €58 to ing date and ewe condition foot. lamb lots are sell- HWGHPDQG ULSSLQJ \ Maize meal meal Sunflower 2013 2013 2013 2013 2013 475 2014 280 240 450 220 425 VAT incl 260 400 c/kg 200 Straight JAMES TAYLOR IRISH FARMERS JOURNAL Maizemeal mealmeal Rape Sunflower Maize meal Rape meal R 5 FDC GROUP Why is life insurance so important? Conor Reen - QFA BSc Most of us know that we need to protect ourselves, our family and homes against the financial hardship that could be caused by an illness or death in the family. There is a vast array of insurance options available and new products entering the market all the time. As a result, it can be confusing and complicated. This article aims to provide clear and concise information about the different types of life insurance and additional benefits available, so that you can make your decisions with confidence. Protecting your family with life insurance is one of the most important financial decisions you can make. It means your family will receive a lump sum or a regular income in the event of your death, becoming seriously ill or being unable to work because of an illness or injury. This could assist greatly maintaining their standard of living and make sure that your children can avail of the opportunities you would otherwise directly afford them. Perhaps you are wondering why you should pay for an unforeseen contingency? As with home or health insurance, life 6 insurance requires a prudent assessment of the need to mitigate risk. This article details the different types of Life Cover and all the additional benefits which can be attached to the policy. Life Cover can be divided into five different cover types. Level Term Cover This is the most popular and affordable way to buy life cover. It pays your family a lump sum if you die within a certain period of time, which you decide at the outset of the policy. It is possible to have a conversion option added to this policy which allows you to extend this policy until age 85 should you wish, with no further medical underwriting needed. However, unlike Whole-Of-Life Cover, your Level Term policy will end and your cover will cease. Mortgage Term Cover This cover is required in conjunction with your mortgage, this type of cover pays off your mortgage upon death. You take out the cover for the term and amount of your mortgage and your cover reduces each month as the amount you owe on your mortgage reduces. Mortgage Term Cover Agricultural Newsletter Spring 2014 will only pay your mortgage upon death of the policy holder; it will not provide any other benefits. Whole-of-Life cover As the name suggests this plan provides you with life cover for your whole life, as long as you make your regular payments this type of cover will pay your family a lump sum when you die. This type of cover is generally reviewable every 5 years, at which time the cost of your cover could increase. This type of cover is typically the most expensive form of cover as it is linked to your age. Whole-of-Life cover can be used to protect your family from having to pay inheritance tax when you die and you can also use it to cover funeral expenses. Pension Term Cover This type of cover can only be taken out by people who are eligible to contribute to a private pension due to being self-employed or being in a job where no pension scheme is offered. It is important to note that you do not need to be contributing to a pension in order to take out Pension Term Cover. This life cover pays your family a lump sum if you die during the term of the plan. You decide the term of the policy but it can only be put in place until your retirement age. The advantage of pension term cover over other life cover plans is that it costs less because you can claim income tax relief on your payments. Monthly Income on Death Cover This cover replaces your income for a set period of time to keep your family living in the manner that they are used to. You decide the term of the cover and the level of the income to be replaced at the outset of the policy. This is a cheaper type of cover than Level Term Cover as it is essentially a decreasing cover. A 20 year term policy with €1,000 of monthly income cover is initially providing you with €240,000(€1,000 x 12months x 20years) of cover but after 15 years with 5 years left on the policy you will only be covered for €60,000 (€1,000 x 12months x 5years) as the €1,000 monthly payment will only be paid for the 5 years. People tend to take out this cover due to the fact that they believe their family would manage better with a regular income instead of one large lump sum payment and as it is cheaper you can take out an initial higher level of cover for less money. There are a number of additional benefits provided by life companies which can be added to life cover policies. The main additional benefit which is provided by all life companies is Specified Illness Benefit which is sometimes known as Critical Illness Benefit provides a lump sum payment on the diagnosis and certification of certain illnesses which are set out in the contracts. Most life companies cover at least 66 illnesses ranging from cancers to heart attacks and strokes. This benefit is more expensive than life cover as there is a far greater chance of it being paid out. Many people take this benefit in order to avoid the dual challenges of financial hardship and critical illness. This payment can be used to maintain your standard of living as well as pay for medical costs arising. that the Life Assured spends in hospital as a result of an accident or illness. New Ireland has a unique rider Whole of Life Benefit which can be attached to their Level Term Policy. This provides an additional lump sum payment on death, however this benefit remains in force even after the term of cover and premiums have ceased. The final benefit which may be of interest is the Best Doctors Benefit which is provided by Aviva and is now automatically attached to all their life cover policies. Best Doctors is a world class second opinion service which provides access to the pooled knowledge and experience of 50,000 specialists from around the world. Best Doctors Benefit provides an in-depth review of your medical files to assist in the confirmation of your diagnosis and to help develop an appropriate treatment plan. As our circumstances change so do our individual needs and requirements for life cover, this is why it is important to regularly review our life cover policies. FDC Financial Services can review your existing life cover policies and guide you through the range of options and benefits to ensure you have the most appropriate cover in place. Hospital Cash Benefit is an additional benefit which can be added to most life cover policies. Hospital Cash Benefit provides a daily cash benefit for each day 7 FDC GROUP CAP Reform 2015 to 2020 Ted Horgan - Agricultural Consultant The recent agreement on CAP Reform reached by Minister Coveney as chairman of the Council Of Farm ministers has brought to an end a period of uncertainty for Irish farmers. The announcement of The Basic Payment Scheme to replace the Single Farm Payment Scheme and the implementation of the “Internal Convergence Model” to gradually redistribute funds between those farmers who hold high and low value entitlements was well flagged but the detail was missing up to now. The announcement of a €580 Million Package under the Rural Development Program should instil further confidence in all sectors of Irish Agriculture. The key measures of the CAP Reform Agreement are as follows: • Ireland’s allocation for direct payments to farmers will be just over €1.2 billion per annum in the period to 2020. • The Single Payment Scheme will be replaced by the Basic Payment Scheme. • Ireland will implement the �Internal Convergence Model’ of redistribution of funds between farmers largely based on the original presentation of that model by the Minister at farmers’ meetings in October 2012. 8 • This model, while initially retaining the link with current payments under the Single Payment Scheme, gradually moves all farmers towards a national average value over the five years of the new scheme but does not arrive at a �flat-rate’ until 2019. The intention is to introduce a fairer more equitable distribution of funds between farmers while avoiding the negative impact of a sudden move to a �flat-rate’. • Farmers who hold entitlements with a unit value below 90% of the national average value will be increased by one third of the difference between their starting value and the 90% level over the five years of the scheme. • Farmers who hold entitlements with a unit value over 100% of the national average value will see their value decrease over the period of the scheme. The reduction will be determined by the amount needed to fund the increase for those whose entitlement value is being increased. Agricultural Newsletter Spring 2014 • By 2019 all entitlements will have a minimum value of 60% of the national average value. • No farmer will receive a payment under the Basic Payment Scheme of over €150,000 per annum. • By 2019 no farmer will receive a payment per hectare (Basic Payment plus Greening payment) greater than €700.00. • Farmers who never held entitlements, either owned or leased, under the current Single Payment Scheme but who actively farmed in 2013 will be eligible for an allocation of entitlements in 2015. • Farmers who produced �fruit and vegetables’ in 2013 but did not receive a direct payment in that year, and consequently do not have an automatic �allocation right’, will be eligible for an allocation of entitlements in 2015. • Young Farmers Scheme: Ireland will establish a Young Farmers Scheme the purpose of which is to encourage the participation of young farmers in agriculture. The scheme will assist young farmers in the initial stages of establishing a farming enterprise in their own name by providing a �top-up’ payment on the payment they receive under the Basic Payment Scheme. • Ireland will allocate the full allowable amount of 2% of its national ceiling to the scheme in 2015. Percentages to be applied in subsequent years will be determined by demand. • The payment is available for a maximum of five years from the date of the establishment of the holding in the young farmer’s name. • A Young farmer is defined as being aged 40 or less in their first year of application to the Basic Payment Scheme and having established their holding within the previous five years. In addition, successful applicants will have completed a recognised course of education in agriculture giving rise to an award at FETAC level 6 or its equivalent. • The Young Farmers payment will be calculated as 25% of the national average payment per hectare (based on the national ceiling) multiplied by the number of entitlements activated by the young farmer subject to a maximum number of 50. defined as persons who commenced their agricultural activity in the 2013 calendar year or any later year and did not have any agricultural activity in their own name and at their own risk in the five years preceding the start of the agricultural activity. As with the Young Farmers Scheme, successful applicants will have completed a recognised course of education in agriculture giving rise to an award at FETAC level 6 or its equivalent. • Greening: Farmers who participate in the Basic Payment Scheme must implement the three standard greening measures as follows; 1. Crop diversification 2. Permanent grassland 3. Ecological Focus Area (EFA) • National Reserve: Ireland will establish a National Reserve using 3% of the ceiling allocated to the Basic Payment Scheme in 2015. This is a once-off allocation and in subsequent years the Reserve will be replenished from the return of unused entitlements. • Priority for the allocation of entitlements from the Reserve will be given to �young farmers’ and to those who �commence their agricultural activity’ i.e. new entrants to farming. In all cases, allocations of entitlements from the Reserve will only be given to persons who are �active farmers’. • The definition of �young farmer’ is the same as that under the Young Farmers Scheme. A �new entrant to farming’ is • The greening payment will take the form of an annual payment per hectare. The payment will be calculated as a percentage of the payment the farmer receives under the Basic Payment Scheme. The same percentage will be applied to all farmers and greening will represent some 30% of each farmer’s total payment. • There are a number of scenarios where a holding or part of it may be considered as �green by definition’ and there is no further obligation to implement the three greening standard measures. Two of the most significant are; • Land that is subject to organic farming practices automatically fulfils all 9 FDC GROUP greening requirements. However such exemption only applies to that part of the holding which is farmed organically. • Holdings where more than 75% of the eligible agricultural area is permanent grassland or is used for the production of grasses or other herbaceous forage have no further obligation to implement the three greening measures, provided the remaining arable area does not exceed 30 hectares. The Key Measures under the Rural Development Programme 2014-2020 are as follows: • The proposed new agri-environment/ climate measure - GLAS (Green, Low carbon, Agri-environment Scheme). A maximum payment of €5,000 per 10 farmer will apply, and it is expected that there will be up to 50,000 farmer participants at its peak. The Scheme will target specific environmental challenges facing the sector as well as focusing on biodiversity, water quality and climate change issues in certain key areas. It will be designed to deliver real environmental benefits and will require significant action by farmers on environmental challenges including those identified in the recent environmental assessment of Food Harvest 2020. • It is also proposed that, within budget limits, a GLAS+ payment would be put in place for a limited number of farmers who take on particularly challenging actions which deliver an exceptional level of environmental benefit. It is proposed that this additional payment will be up to €2,000. • Continued support for disadvantaged areas – now known as Areas of Natural Constraint (ANCs). • It is proposed that support to farmers in these areas will continue at its current level, with payments to the tune of about €195 million per year. A full review of the scheme will be necessary, before 2018 at the latest, when the areas classified as ANCs will be redesignated using new bio-physical criteria. Incentives for on-farm capital investment: • The investment areas covered under this measure will support a number Agricultural Newsletter Spring 2014 of key policy priorities, including: Targeting support at key sectors to enable growth and expansion, including Dairy Farming in the context of the abolition of milk quotas in 2015. • Support for capital investment on beef farms to contribute to environmental and climate change objectives, support infrastructural development on farms, improve animal health and welfare and farm safety, • Contributing to environmental and climate change objectives, • Supporting increased efficiency of holdings, e.g. through support for farm infrastructural investments, • Improved animal health and welfare. • Support for Young Farmers:· A separate strand of the support for on-farm capital investment will be ring-fenced for young farmers setting up for the first time as the head of an agricultural holding. This will provide a dedicated support for young farmers by offering a higher rate of aid intensity of 60% for young farmers investing in key physical assets. • Knowledge Transfer and Innovation Measures • Knowledge Transfer groups will be designed to improve farmers skills and to address competitiveness. Areas to be addressed include skills related to financial management, animal health, grassland management, carbon efficiency and breeding, • A targeted advisory service on animal health and welfare will assist in the provision of farm-specific advice in relation to matters such as BVD and Johnes Disease, as well as the control of elevated somatic cell counts. This measure can help address issues which add significantly to the costs of individual farmers, • A range of specifically targeted on farm training measures and support for continued professional development of advisors. Collaborative and Quality-Focused Measures: • Support to partly offset the start up costs of approved collaborative farming arrangements. In the context of the dairy sector this has the potential to assist new entrants to the sector, to encourage young farmers into the farm enterprise, to encourage intergenerational transfer and to improve efficiency at farm level, • Support for quality schemes, which will assist groups of farmers in developing proposals for the marketing of distinctive local products through the EU programmes. A New Beef Data and Genomics Measure • Up to €52 million per year will be spent on a new, highly innovative beef data and genomics measure which will support farmers who participate in a programme to significantly improve the genetic quality of the beef herd. • Using genomics to increase genetic improvement in cattle, Ireland can further exploit its advantage of a green grass-based production system by producing beef animals which maximise productivity per unit of input and which can also accrue substantial benefits in terms of traceability and quality. • This will drive improved genetic performance and production efficiency in suckler herds, as well as delivering improvements in animal health and welfare, and environmental sustainability. • It can also provide the basis for a genetic traceability system in the future. • Estimated costs of the programme are based on €80 per calved cow for approximately 650,000 participant calved cows. Organic Farming Organic Farming Scheme to be continued: • Core requirements for organic farmers would be the same as for those in GLAS, with Organics incorporated into GLAS as a priority action. • Organic farmers meeting existing requirements under the rural development regulation would top-up payments by complying with other GLAS criteria. 11 FDC GROUP Budget 2014 – the consequences for Agriculture Donncha Collins - BCL CPA CTA TEP The 2014 Budget was eagerly awaited by the farming community due to the Minister of Finance’s proposal to fundamentally overhaul the current Capital Tax regime. There had been much speculation prior to the budget that significant changes would take effect. As has now become a regular occurrence, frantic tax restructuring was undertaken to pre-empt these changes. Rumours abounded that significant changes were to be made to Stamp Duty, Capital Gains Tax and Capital Acquisitions Tax further raising these taxes above their already punitive levels. Let us thus examine the actual Capital Tax changes which have been proposed for the Farming Sector. At the time of writing we have to hand the Finance Bill, a precursor to the Act which gives final legislative effect. Amendments may arise during the Committe stages but the broad parameters are examined below. Stamp Duty/Stock Relief There was no alteration of the existing Stamp Duty rates. The rate applicable 12 to transfers of farm land remains at 2% between unconnected parties, as defined, and 1% between connected parties as defined. The Young Trained Farmer Stamp Duty Relief for qualified farmers below the age of 35 years continues and remains a very attractive relief in promoting farm transfers. The support for this relief by Government is evidenced by the extention of the relief to include new courses. The enhanced Stock Relief for Young Trained Farmers of 100% remains. One note of caution relates to the enhanced Stock Relief available to those in registered partnerships. In order to avoid the need to obtain approval from the EU on this enhancement, the Revenue Commissioners are required to spread and restrict the claim over a period of 3 years. Agricultural Newsletter Spring 2014 Capital Acquisitions Tax (CAT) Of all the taxes, the absence of any change in CAT was most surprising. It was this tax to which the Minister specifically referred last year and around which most of the rumours centred. It was expected that the Agricultural Relief rate would drop from 90% to 75% and the tax rate would rise incrementally from 33% to 35%. The only reference to CAT in the speech was that a complete review was underway and that the outcome of that examination would be revealed next year. Capital Gains Tax There were some amendments introduced to the tax and most were favourable. Retirement Relief: The Bill (section 41) extends the operation of Retirement Relief. The Relief applies in situations where a parent leased land for a period of less than 15 years and subsequently disposed of it to a child. The Relief did not apply for any disposal where the land was leased and subsequently disposed of to a non-child by which Retirement Relief was not available to any individual who ceased working the lands. The new section extends the Relief to an individual who leases the land and subsequently disposes of it to a non-child. The leasing has to be for less than 15 years and has to consist of lease periods of at least 5 years. We have also been informed that much confusion arose in relation to the maximum relief available. Revenue had suggested that the limits of €750,000 / €500,000, applied to lands that were leased and subsequently transferred to a child. At the Committee stages of the Bill, clarification was sought from Revenue on this point. Agreement has now been reached such that the disposals to a child after leasing, will qualify for the higher limits of €3Million/unlimited. Base Cost where debt is written off: This amendment addresses a topical development in the property market. When calculating CGT liabilities, one is entitled to deduct the cost of the asset when it was acquired. Revenue noticed that a significant number of tax payers were deducting the full cost of the asset, even in situations where they had not paid in full for the asset,. This arose where the taxpayer had defaulted on the bank loan or taken to purchase the asset and the tax payer had succeeded in having the bank write off some of that debt. The Revenue took the view that the taxpayer was claiming a deduction for more than the actual economic cost of the asset. 13 FDC GROUP Section 40 of the Bill, now holds the deductible base cost will be reduced by the amount of the debt written off. Additionally it addresses scenarios where the debt is written off some time after the asset has been disposed of. In this case, where the taxpayer had claimed a deduction for the full cost and subsequently succeeded in obtaining a write off of some of the debt a separate and new Chargeable Gain will accrue in the year of write off. CAPITAL GAINS TAX EXEMPTION: The Capital Gains Tax property incentive relief for properties bought between 7 December, 2011 and 31 December, 2013, is being extended by one year to include properties bought to the end of 2014. CAPITAL GAINS TAX ENTREPRENEUR RELIEF: A Capital Gains Tax incentive is being introduced to encourage entrepreneurs who have disposed of assets, to reinvest those sale process in assets for the purposes of a new trading activity. The new trade must commence in the period 1 January, 2014 to 31 December, 2018. The Relief directs that if the new investment asset is held for 3 years and then disposed of, the CGT payable on the disposal of the trading asset, will be reduced by the lower of ; (a) the CGT paid on the disposal of the prior asset and, (b) 50% of the CGT due on the disposal of the new trading asset. 14 It is important to note that when this relief was announced in the Budget Speech, the phrasing used by the Minister suggested that the tax advantage or reclaim would occur once the new trading asset was bought. This is not the case, the advantage only arises once the trading asset is held for at least 3 years and then disposed of. This presupposes that a gain arsies on the sale of the new asset. There are so many variables relating to this relief that we are doubtful of its practical application. Conclusion The Budget 2014 changes to the Capital Tax regime and their impact on the Farming Sector were minimal. However, it would be wrong to seek medium term re-assurance that �the worst is behind us’ in relation Capital Taxes. The importance of maintaining the Agricultural Relief rate at 90% is paramount in light of the cumulative reductions in the Class Free Thresholds (reduced by 60%) and the increases in the tax rate (from 20% to 33%). Couple that with the increase in CGT from 20% to 33% and the onerous limits being placed on Retirement Relief, one can surmise that the Coalition Government will seek to extract more wealth/taxes from the assets held by taxpayers as witnessed with the introduction of the Local Property Tax. An obvious target are the lands held by farmers. It is imperative that you review your current personal and financial circumstances and seek professional advice available throughout the FDC branch network and effect any actions required to legitimately minimise your tax liabilities. Agricultural Newsletter Spring 2014 Vacancies in FDC Group FDC is a multi-disciplined service provider to a diversified range of clients in Southern Ireland (half of its clients are farmers). Job Title: AREA MANAGERS (2) FDC now wishes to appoint Area Managers in East Cork/South Tipperary. Applicants must have: 3. Determination to deliver a quality 1. An appropriate Accountancy/ service to clients and to expand Agri/third-level qualification and a and develop FDC’s business. number of years experience in client 4. Proven business ability. consultancy, business advice 2. Excellent organisational, communication These are long-term career and interpersonal skills, including appointments. management and motivation of staff. The successful candidate will be part of the Senior Management Teams in the Regions. FDC offers an excellent remuneration package and career prospects, including future equity participation. References will be required. Job Title: IT SUPPORT ENGINEER FDC IT Solutions are looking for an enthusiastic, business minded problem solver to join their IT team. The role will involve a mix of Project work across a range of technologies, along with Operational Support of existing systems within the Group as well as IT support for External Clients. Essential Skills • Degree in Computer Science or equivalent experience in a similar role. • Ability to troubleshoot Hardware/ Software issues on Servers, PCs, Laptops, Printers, Network Devices (Access Points, Switches, Modems, etc). • Excellent Problem-Solving Skills. • High Level Understanding of Microsoft Operating Systems - these include Windows Server 2003, Windows Server 2008, Windows XP, and Windows 7. • High Level Understanding of Linux Operating Systems (Ubuntu). • Knowledge of Windows/Linux Batch Scripting for maintaining PCs and Servers • Practical knowledge of Network Protocols, DNS, VPNs, etc. • Ability to set up Wired/Wireless Networks & VPNs. • Understanding of Cloud technologies. • Excellent written, oral and presentation skills. • Ability to work in a Team and as an individual. • Ability to work on multiple Projects at the same time. • Full Driver’s License & own mode of transport. This is a full-time position with an initial 6-month trial period. Salary will be based on experience. Closing Date for applications is 21st of March 2014. This position is based out of our Head Office in Cork City. References are required. Please Send or Email Cover Letter and CV to Janette Murphy HR Department, FDC House, Wellington Road, Cork Email: careers@fdc.ie 15 FDC GROUP Head Office: FDC House, Wellington Road, Cork. Tel: 021-4509022 Email: info@fdc.ie www.fdc.ie Cork Kerry Waterford 4/5/6 Patrick’s Quay, Bandon, Co. Cork. Tel: 023-8841744 Email: bandon@fdc.ie 26 Church Street, Listowel, Co. Kerry. Tel: 068-24740 Email: listowel@fdc.ie 23/35 Lower Main Street, Dungarvan, Co. Waterford. Tel: 058-41893 Email: dungarvan@fdc.ie 9 North Street, Skibbereen, Co. Cork. Tel: 028-21818 Email: skibbereen@fdc.ie 21 Denny Street, Tralee, Co. Kerry. Tel: 066-7193370 Email: tralee@fdc.ie 4 Church Street, Dungarvan, Co. Waterford Tel: 058-45001 Email: fdcdungarvan@fdc.ie Church Road, Graiguecullen, Co. Carlow. Tel: 059-9142474 Email: carlow@fdc.ie Newtown, Bantry, Co. Cork. Tel: 027-52323 Email: bantry@fdc.ie Limerick/Clare 4 Main Street, Lismore, Co. Waterford. Tel: 058-72800 Email: lismore@fdc.ie The Square, Tullow, Co. Carlow. Tel: 059-9151685 Email: tullow@fdc.ie 130 Bank Place, Mallow, Co. Cork. Tel: 022 22724 Email: mallow@fdc.ie Percival Street, Kanturk, Co. Cork. Tel: 029-50292 Email: kanturk@fdc.ie 75 McCurtain Street, Fermoy, Co. Cork. Tel: 025-51888 Email: fermoy@fdc.ie Main Street, Millstreet, Co. Cork. Tel: 029-71082 Email: millstreet@fdc.ie Kilrock House, Midleton, Co. Cork Tel: 021-4633772 Email: midleton@fdc.ie www.fdc.ie St. Ita’s Road, Newcastlewest, Co. Limerick. Tel: 069-62688 Email: ncw@fdc.ie 75 O’Connell Street, Limerick. Tel: 061-404644 Email: limerick@fdc.ie 2nd Floor, 108 The Quay, Waterford. Tel: 051-872327 Email: fswaterford@fdc.ie Tipperary Lord Edward Street, Kilmallock, Co. Limerick. Tel: 063-98588 Email: kilmallock@fdc.ie Church Street, Cahir, Co. Tipperary. Tel: 052-7441266 Email: cahir@fdc.ie Church Street, Abbeyfeale, Co. Limerick. Tel: 068-30416 Email: abbeyfeale@fdc.ie Ballyhall, Roscrea, Co. Tipperary. Tel: 0505-21944 Email: roscrea@fdc.ie Corgigg, Foynes, Co. Limerick. Tel: 069-65326 Email: foynes@fdc.ie Lower Gate Street, Cashel, Co. Tipperary. Tel: 062-61947 Email: cashel@fdc.ie 8 Carmody St Business Park, Ennis, Co. Clare. Tel: 065-6828992 Email: ennis@fdc.ie Piltown Road, Carrick-on-Suir, Co. Tipperary. Tel: 051-640799 Email: carrickonsuir@fdc.ie 5 Castle Street, Carrick-on-Suir, Co. Tipperary Tel: 051-640074 Email: carrickonsuir@fdc.ie Carlow Wexford Woodbine Business Park, New Ross, Co. Wexford. Tel: 051-421115 Email: newross@fdc.ie
© Copyright 2024 Paperzz
