Kieran Coughlan: Dairy farmers left exposed by income averaging for tax

Many farmers are now facing difficulties meeting substantial income tax bills for year 2014, with farm income having plummeted over the past number of months.

Milk prices are below 30 cent per litre across the board, leaving farmers under severe pressure; this is especially the case for those who have invested heavily in expansion.

Volatility of farm incomes has increased substantially over recent years.