CPDStore Ireland

This session will provide a practical and technical update on Income Tax and VAT issues currently impacting farming clients, with a particular focus on stock values, volatility in farm profits and the increasing interaction between tax compliance and commercial decision‑making. With rising livestock prices, higher input costs and increased Revenue scrutiny, advisers need a clear understanding of how year‑end decisions affect taxable profits, cashflow and long‑term planning. This webinar will equip accountants with up‑to‑date guidance they can apply immediately when advising farming clients.

Declan McEvoy will cover the following topics during this webinar:

• Review of farm secretarial income and taxable farm profits for 2025, together with an outlook for 2026 across the main farming sectors.
• Rising livestock prices, stock valuations and closing stock movements, including the impact on taxable profits and cashflow.
• Managing tax liabilities through available deductions and reliefs, including stock relief, carbon tax considerations, income averaging, capital allowances and accelerated capital allowances.
• VAT in the farming sector – flat‑rate farmers versus VAT registration, machinery and fixed plant considerations, and common VAT traps for farmers.
• Recent developments including Tax Appeals Commission decisions on fixed plant, updates on online VAT 58 reclaims, changes to the flat‑rate addition, and an introduction to IFJ commentary on land values

By attending this session delegates will:

• Understand how changes in closing stock values can significantly affect tax liabilities.
• Be able to identify and maximise farm‑specific tax reliefs and deductions.
• Gain clarity on when VAT registration may be appropriate for farming clients.
• Recognise common VAT pitfalls and compliance risks within the farming sector.
• Be better equipped to advise clients on forward planning and structural decisions.

This session will be of most interest to accountants, tax advisers and practitioners advising farming and agri‑business clients.

Course Level: Intermediate