Farmers Tax Returns

In a somewhat unusual move, the Revenue Commissioners released a statement last week highlighting the fact that they were receiving a higher than average number of tax returns from farmers containing mistakes. As a result of this they will be paying special attention to this section of tax payers.

The problem here is that forms are being submitted and they are either missing information or the information is in the wrong place. In particular, certain payments that farmers receive, like the single farm payment are causing issues. This rings bells with the Revenue and it means that they are paying more attention generally to farmers tax returns'.

Revenue regularly receives information from other Government Departments, including details of farmers' payments received. The Revenue can and will look at this information and compare it against tax return information when selecting who to audit.

Roddy Comyn, Director at TaxAssist Accountants offers the following advice to her clients "make sure you record all payments you receive from the Department of Agriculture, Food and the Marine (DAFM) and indeed any payments you are receiving from Europe like the CAP. These are not to be recorded as sales however. Doing this correctly will help you avoid any unnecessary attention from the Revenue Commissioners".

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Date published 21 Feb 2013

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.