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Will the SFP advance be paid in oct this year?

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  • 30-03-2014 8:48am
    #1
    20silkcut
    Registered Users Posts: 2,549 ✭✭✭


    I loathe my dependence on it but as a dry stock non dairy farmer I am completely dependent on it and receiving the 50% advance in oct.
    Every year some adverse happening occurs to induce the early payment.
    What have we this year?
    Can the minister use the current beef price collapse?
    Glanbia and their 90 days credit rule also makes the timing of the SFP payment critical.
    Having to hold out for payment until December would leave a lot of people under pressure.


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    #2
    benjydagg
    Registered Users Posts: 199 ✭✭benjydagg


    20silkcut wrote: »
    I loathe my dependence on it but as a dry stock non dairy farmer I am completely dependent on it and receiving the 50% advance in oct.
    Every year some adverse happening occurs to induce the early payment.
    What have we this year?
    Can the minister use the current beef price collapse?
    Glanbia and their 90 days credit rule also makes the timing of the SFP payment critical.
    Having to hold out for payment until December would leave a lot of people under pressure.
    I would presume that 50% will be paid in October. I'm banking on it. That's 7 months away 20silkcut..... get the application correct first. And read the booklet that came in the Journal. No one should can afford a mistake on maps this year.


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    #3
    brian_t
    Registered Users Posts: 6,658 ✭✭✭brian_t


    benjydagg wrote: »
    I would presume that 50% will be paid in October.

    Surely there will be no certainty on this until the minister announces it just before he goes to the Ploughing match in September.


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    #4
    newholland mad
    Registered Users Posts: 326 ✭✭newholland mad


    Guaranteed it will be 50% in oct, he will come up with some reason floods, drought, prices, etc. why? because the pay and file deadline is also then and in most cases its the sfp that pays it.


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    #5
    whelan2
    Registered Users Posts: 29,088 ✭✭✭✭whelan2


    newholland mad wrote: »
    Guaranteed it will be 50% in oct, he will come up with some reason floods, drought, prices, etc. why? because the pay and file deadline is also then and in most cases its the sfp that pays it.
    was there not talk of the pay and file date being moved to june or something?


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    #6
    newholland mad
    Registered Users Posts: 326 ✭✭newholland mad


    whelan2 wrote: »
    was there not talk of the pay and file date being moved to june or something?

    Now that you mention it ok. It better not or I'm nobbled, thats the leanest time here til about oct when we get harvest money.


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    #7
    rancher
    Closed Accounts Posts: 2,142 ✭✭✭rancher


    newholland mad wrote: »
    Now that you mention it ok. It better not or I'm nobbled, thats the leanest time here til about oct when we get harvest money.

    Department of finance claim that it's difficult to announce a budget (which has been brought forward already) when they don't know how much is coming from pay and file, We're hoping that they will allow us to file in August (or whenever) and pay in October.
    Farmers shouldn't be dependent on October payment, the payment date for SFP is the first week of December and October is just a concession if your account is cleared, although 90% get paid in Oct but that still leaves 10000 farmers clogging up DEPT phones
    Never depend on it in Oct to pay a bank loan


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    #8
    newholland mad
    Registered Users Posts: 326 ✭✭newholland mad


    I wouldnt worrry about a bankloan, when setting it up here anyway its always dec repayments but theres no putting the taxman off until a time that suits cashflow. Grainbuyers are hard to pin down after harvest its usually oct before you get money and 1st dec sfp, thats it then for a year so by june the bank is empty.Bad job to have to go and get a bank loan to pay the tax man.


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    #9
    moy83
    Closed Accounts Posts: 4,701 ✭✭✭moy83


    newholland mad wrote: »
    I wouldnt worrry about a bankloan, when setting it up here anyway its always dec repayments but theres no putting the taxman off until a time that suits cashflow. Grainbuyers are hard to pin down after harvest its usually oct before you get money and 1st dec sfp, thats it then for a year so by june the bank is empty.Bad job to have to go and get a bank loan to pay the tax man.

    Would the preliminary tax payed the previous year not have you almost sorted ? You can pay in a bit every month aswell if it suited you to have it gathered for oct .


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    #10
    whelan2
    Registered Users Posts: 29,088 ✭✭✭✭whelan2


    moy83 wrote: »
    Would the preliminary tax payed the previous year not have you almost sorted ? You can pay in a bit every month aswell if it suited you to have it gathered for oct .

    Just be aware if paying preliminary tax monthly by direct debit the money comes out on the 9th of each month. This can not be changed and might not suit everyone


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