#Farming Columnist - Kieran Coughlan

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#Farming Columnist - Kieran Coughlan

Farm Finance

A COMPREHENSIVE SERIES OF ARTICLES ON THIS TOPIC

<p>In the past number of weeks, there have been high-level discussions between the Department of Finance, Revenue, and at least one farm organisation in relation to the flat rate Vat addition paid out to unregistered farmers in the poultry sector. </p>

farming

Is it the thin end of the wedge for flat rate Vat compensation scheme?

It has come to pass in the past week that minister for finance Paschal Donohoe has made the decision to remove the poultry broiler sector from the Vat flat rate addition scheme

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High profits, high tax: Why 2025 could catch farmers out

<p>The additional cost over and above what I would have saved via Tams was, of course, deductible as an expense, and solar panels generally qualify for 100% tax relief.</p>

farming

Kieran Coughlan: The numbers stacked up for solar success... even without Tams

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Farm Finance: Is the review of Agricultural Relief only skin deep?

Farm Finance: Taking stock of high stock prices - will buying now pay off?

farming

Farm Finance: Taking stock of high stock prices - will buying now pay off?

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Farm Finance: What are the tax implications of felling damaged forests?

Destroyed and Damaged Building after Hurricane Harvey Destruction path through Rock Port , Texas along Padre Island Texas Gulf C

Farm Finance: Storm damage and insurance options - what you need to know

Where buildings or machinery are underinsured, farmers can be surprised to learn that a payout is proportionately reduced, writes rural accountant Kieran Coughlan.

Thu, 27 Feb, 2025

Cryptocurrency on Binance trading app, Bitcoin BTC with altcoin digital coin crypto currency, BNB, Ethereum, Dogecoin, Cardano,

Investing in cryptocurrencies - what does the taxman need to know?

In as little as five years from the low point, Bitcoin has increased in value by a factor of 20 times, writes tax advisor Kieran Coughlan.

Tue, 18 Feb, 2025

Doing taxes

Kieran Coughlan: The dos and don’ts when it comes to farming companies

Having a full overview of both the positives and the negatives of using a company means one can give proper consideration as to whether it is the right choice and avoid - or at least understand - any potential nasty surprises.

Thu, 30 Jan, 2025

Administrator's hand fill in business schedule form document writing on yearly work plan, monthly timetable sheet, or weekly tim

Would setting up a farming company suit your business?

In essence, farmers who are in averaging might be able to switch into a company in 2025 without a clawback penalty for 2024, writes rural accountant and tax advisor Kieran Coughlan.

Mon, 20 Jan, 2025

Tesla Cybertruck Side View

Kieran Coughlan: Cyber trucks and gas prices - what does 2025 have in store for farm finances?

Could 2025 be the year we see a Cybertruck parked up at the mart?

Mon, 06 Jan, 2025

Farmer overlooking his domains

Kieran Coughlan: What to do with the farm if no one is interested in taking it over

Where a successor is not interested in farming, the opportunity cost of retaining ownership of the farm should in the cold light of day be put up for comparison against other options

Thu, 19 Dec, 2024

Girl counting US Dollar bills, using calculator, and writing expenses. Woman doing budget, estimating money balance for shopping

Kieran Coughlan: Rewarding your employees this Christmas?

The appeal of fift vouchers has been considerably enhanced by increasing the limit to €1,000 and by increasing the total of such benefits to two over the course of the year.

Mon, 09 Dec, 2024

Father showing his son the family business.

UK ag is in turmoil over APR... so what does it mean for Ireland?

The announcement in relation to inheritance tax is just one element of a whole raft of tax changes being introduced and amended in order to shore up the UK exchequer which has been running at a significant deficit over decades.

Thu, 31 Oct, 2024

Nitrogen Fertilizer

Kieran Coughlan: Looking ahead at farming's future

The outlook for farming has settled over recent months with a major lift in the dairy markets, and a settling of grain prices and input prices such as fertiliser and fuel, writes rural accountant Kieran Coughlan.

Sat, 12 Oct, 2024

Income tax filling

What will the Tax Strategy Group paper mean for CAT?

As the old saying goes, there’s nothing more certain than death or taxes, and Capital Acquisitions Tax (CAT) is the one such tax that actually arises in both events, writes rural accountant Kieran Coughlan.

Fri, 13 Sep, 2024

Cows - milking parlour

Kieran Coughlan: Is dairy industry rationalisation on the cards as output drops?

The Irish dairy industry may face rationalisation in the year ahead if current trends continue.Domestic milk intake by processors this year was down 242m litres by the end of June compared to this time last year with the month itself down 13.3m ...

Mon, 26 Aug, 2024

Farmer and Financial Advisor

Kieran Coughlan: Income averaging likely to cost farmers heavily

Farmers in averaging do have one other option available to them, which is to step out of averaging for one year

Mon, 12 Aug, 2024

Man using calculator

Revenue VAT rules need close scrutiny

At least some clarity has now been given as to what will definitely qualify for a VAT refund, writes rural accountant Kieran Coughlan.

Mon, 15 Jul, 2024

Traditional Bank sign

S How to make the most of your loan application - an accountant's tips

Non-financial information, such as details of past experience and qualifications, can be as important as financial information in giving a lender confidence, writes tax advisor Kieran Coughlan. Here's how you can get the full picture across.

Thu, 27 Jun, 2024

Science, nature and scientist with water sample for inspection, research and ecosystem study. Agriculture, biology and hands of

Kieran Coughlan: Numbers behind water quality plans need fleshing out

As farmers, we don’t need to start measuring N losses on our own individual farms, but at least if we knew what the difference is between approaches to farming, informed choices could be made, writes rural accountant Kieran Coughlan.

Fri, 14 Jun, 2024

Kieran Coughlan: Just keeping the derogation is too narrow a position for candidates seeking farmers' votes

Kieran Coughlan: Just keeping the derogation is too narrow a position for candidates seeking farmers' votes

What about all the other regulatory burdens that have been imposed on farmers over recent years?

Tue, 04 Jun, 2024

Changing colours for a more resilient herd

Changing colours for a more resilient herd

Two 'pet' cows have caused Kieran to rethink his dairy herd's breeding strategy.

Fri, 17 May, 2024

Aerial view of farm building with photovoltaic solar panels mounted on rooftop for producing clean ecological electricity. Produ

Is solar PV a viable option for your farm electricity?

The ability to sell excess electricity to the grid, currently for more than 20c/kW, is making solar PV an attractive proposition for many farmers, writes rural accountant Kieran Coughlan.

Tue, 07 May, 2024

Farmer and Dollar

Farm Finance: Crunching the numbers ahead of a clearance sale

Farmers who have decided to change tack face a multitude of choices, writes rural accountant Kieran Coughlan.

Tue, 09 Apr, 2024

Welly boots - enjoying wet weather

Farm Finance: Fodder shortages are squeezing farm cashflow

The extended wet and wintery weather has been at the forefront of farmers' concerns in the past few weeks. This past week’s weather saw farmers pulling animals back indoors full-time as grazing conditions deteriorated.

Mon, 25 Mar, 2024

Farmer holding Calculator with ripe yellow corn cob in hand to calculate production in field. Corn cob ready to harvest. Agricul

Kieran Coughlan: Farmers are sick to their back teeth of layering regulations

The problem farmers now face is that intensification and scale no longer serve the purpose of increasing margins where land supply, land cost, and regulations create limiting factors, writes rural accountant Kieran Coughlan.

Mon, 18 Mar, 2024

Farming runs in the Family

Farm Finance: Protecting yourself when it comes to farm transfers

Rural accountant Kieran Coughlan explores how those transferring farms to the next generation can ensure they are protected too.

Tue, 12 Mar, 2024

Coins with plant on top put on the soil in green nature background for business growth concept.

Farm Finance: How will the Nature Restoration Law affect farmer profitability?

It’s ironic that in a week when the EU went to some efforts to suggest that the regulatory burden on farmers would be reduced, the Nature Restoration Regulations were signed into law, writes rural accountant Kieran Coughlan.

Fri, 01 Mar, 2024

European Union banknotes and coins

S Kieran Coughlan: Take interest in your interest rates - the savings could surprise you

There is massive variations on the interest rates being charged by financial institutions and non-banking finance providers alike, warns rural accountant Kieran Coughlan.

Fri, 09 Feb, 2024

father and son smiling at camera while standing near grazing cattle at farm

Kieran Coughlan: Should I trust to leave my farm to the next generation?

Investing a bit of time into how your assets should be divided up and considering whether you want to use a trust in your will is an exercise well worth doing

Tue, 06 Feb, 2024

Confident in Her Line of Work

Help! ...a look at your options when labour is tight on the farm

This week and the next three weeks will see a huge number of calves born on dairy farms. The workload goes from a steady pace to outright mayhem in the space of a few days, writes rural accountant Kieran Coughlan.

Tue, 30 Jan, 2024

countryside scene

What level of rent is justified economically for farmers given the difficult year that passed?

In a race to the bottom farmers vie against each other in a game of chicken as to who is willing to rent land at prices such that there is little or no return

Mon, 15 Jan, 2024

Man with short brown hair,pointing on his laptop while standing next to his colleague,colleague sitting inside his tractor and l

S Kieran Coughlan: The advantages of operating a farm partnership

There are effectively three types of partnership when it comes to farming

Mon, 08 Jan, 2024

Diesel fuel nozzle fueling farm tractor. Farming input costs, fuel price increase and emissions pollution concept.

Kieran Coughlan: Input costs, politics and a turning point for farming?

On the positive side, costs seem to have stabilised both on the input and output sides, writes rural accountant Kieran Coughlan.

Wed, 03 Jan, 2024

DENIS SCANNELL

Kieran Coughlan: The ins and outs of what you can reclaim Vat for on the farm

Over the past few months, there is a perception Revenue seems to have tightened up on the types of expenditure it is willing to accept as coming within the regulations

Mon, 11 Dec, 2023

Tractor spraying slurry in a field on a winter day

Kieran Coughlan: The loss of derogation will ripple beyond affected farmers

Despite having done what was asked of them, the stocking rates for certain farmers are set to reduce from January 1, depending on where they are geographically located

Mon, 04 Dec, 2023

abandoned cottage

Property owners should update LPT but now must also consider VHT

The Vacant Homes Tax (VHT) is due on residential properties that are liable to LPT and are vacant

Tue, 28 Nov, 2023

Transferring freshly cut grass to a trailer

S Court decision on when workers are employees is significant for farmers

For farmers and other businesses, a more cautious approach should be taken to make sure that those non-employees working for you are correctly regarded as non-employees

Tue, 07 Nov, 2023

Kieran Coughlan: Talk to Revenue early about cashflow issues due to flooding

Kieran Coughlan: Talk to Revenue early about cashflow issues due to flooding

Arrangements Revenue can put in place include temporary stops in collection, informal instalment arrangements and formal phased payment arrangements

Mon, 30 Oct, 2023

Typical Irish countryside of green grassy fields West Cork Ireland

S Kieran Coughlan: What the nitrates decision means for land prices

Will a two-tier system emerge where land which can carry a higher stocking rate command higher rents than restricted lands?

Tue, 24 Oct, 2023

Farmers are glad that fuel excise levies have been delayed

Farmers are glad that fuel excise levies have been delayed

The pause on increases in Vat and levies on fuel and power is a relief, but farmers will be studying fine details in Budget 2024 including capital gains tax relief and stamp duty

Listen | Wed, 11 Oct, 2023

Irish Farmer with Cows

Kieran Coughlan: Budget scraps for farmers or a real change of policy?

It’s clear it won’t be a giveaway budget in respect of any noticeable difference that will be felt in the payslips or yearly tax return

Tue, 03 Oct, 2023

We should continue leveraging the Ploughing to showcase what's good about Irish farming

We should continue leveraging the Ploughing to showcase what's good about Irish farming

It's fair to say that there is hardly a cohort of business and society that’s not represented in some fashion at the National Ploughing Championships

Tue, 26 Sep, 2023

Irish Budget 2023

Kieran Coughlan: What the Budget leaks so far mean for Ireland's farmers

It’ll take more than this year's Budget announcements to fix the additional constraints being heaped on farmers

Tue, 19 Sep, 2023

Farmer and Financial Advisor

Kieran Coughlan: Time to examine the rates of interest you are paying

The edging up of deposit interest rates is good news, but of little comfort to borrowers whose costs have been steadily rising

Mon, 04 Sep, 2023

tractor fertilizing in field

Farmers to begin navigating Fertiliser Register regulations

By providing farmers with online calculators, a better outcome will be obtained where farmers can self-regulate and make sure they stay within their fertiliser allowances

Mon, 28 Aug, 2023

Concrete compost for manure on a farm

Kieran Coughlan: Accelerated capital allowances are back on the table

As with the previous accelerated capital allowance scheme, the devil is in the detail

Tue, 22 Aug, 2023

close-up hand of person holding coin with soil in hand on soft nature background

S New ways to farm and the big question of how it should all be taxed

The majority of tax rules dealing with farming exist for near on 50 years and are understood by accountants and tax consultants working with the sector. Still, new forms of occupation of land throw up a variety of issues, writes agricultural tax advisor Kieran Coughlan.

Fri, 11 Aug, 2023

business growth

S Coping with a bigger than expected tax bill on the farm

Anecdotally, some farmers are seeing a doubling and even tripling of their tax bills for 2022, writes agricultural accountant Kieran Coughlan.

Mon, 07 Aug, 2023