CPDStore Ireland

With farm incomes reaching highs in 2024 and 2025 projected to be another strong year for most sectors, managing the resulting tax liabilities has become a critical concern for farmers and their advisors. This, combined with soaring land and stock prices, has added significant complexity to farm transfers and succession planning. This webinar is essential for any professional advising clients in the agricultural sector. Attending will provide a comprehensive overview of the key income and capital tax issues impacting farmers today, empowering you to deliver proactive advice, mitigate tax burdens for your clients, and ultimately enhance the value and expertise of your practice.

Declan McEvoy will cover the following topics during this webinar:

• Income Tax Planning: A deep dive into maximising reliefs within the farm gate, including the strategic use of accelerated capital allowances, stock relief, and income averaging.
• Stock Valuations: An essential guide to the importance of accurate stock valuations, common pitfalls, and their significant impact on a  tax liability.
• Farm Business Structuring: An analysis of using partnerships and limited companies not only as a tool for tax efficiency but also as a cornerstone of a robust succession plan.
• Succession and Transfer Planning: A holistic review of the tax implications of passing on the farm, navigating the interactions between Capital Acquisitions Tax (CAT), Capital Gains Tax (CGT), and Stamp Duty.
• VAT for Farmers: A practical look at ongoing issues and recent clarifications, with a particular focus on common problems encountered with the VAT 58 procedure.

By attending this session you will be able to:

• Effectively utilise the full range of income tax reliefs available to your farming clients to manage their liabilities.
• Understand the critical importance of correct stock valuation and identify potential issues in farm accounts.
• Advise clients on the most appropriate business structures (sole trader, partnership, or company) for their specific circumstances.
• Navigate the complex interplay of CAT, CGT, and Stamp Duty in the context of farm succession.
• Identify and resolve common VAT issues and confidently guide clients through the VAT 58 claim process.

This session will be of most interest to accountants, tax advisers, agricultural consultants, and solicitors who work with clients in the farming and agribusiness sector.

Course Level: Intermediate / Advanced