The back end of 2023 saw a day of reckoning when the income tax liabilities for 2022 became due, writes agricultural accountant and farmer Kieran Coughlan.

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

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

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

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

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

Transitioning to a farming company is an option and can spare a farmer from lofty tax bills, most especially where a farmer is exposed to tax at the higher rate on a larger portion of their income.

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

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

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