JP Egan & Company

How we help Farmers with their Accounts

Farming businesses come with their own set of challenges, from managing fluctuating incomes to handling the complexities of tax regulations, subsidies, and capital allowances. 

At JP Egan & Company, we specialise in providing expert accounting services tailored specifically to the agricultural sector. 

Whether you're running a family farm, a large-scale operation, or diversifying into new areas, our team is here to help you manage your finances, optimise your tax position, and stay compliant with all relevant regulations.

JP Egan & Company

Advantages of a Farming Business:

Farming as a business offers unique opportunities and challenges. Here’s a look at the advantages and potential pitfalls of running a farming business:

  • Access to grants and subsidies: As a farmer, you may be eligible for various government grants, tax reliefs, and subsidies designed to support the agricultural sector. We help ensure you claim all available benefits.
  • Capital allowances: Farmers can benefit from capital allowances on farm equipment, machinery, and buildings, reducing taxable profits and improving cash flow.
  • Ability to claim tax reliefs: We work with you to maximise available tax reliefs specific to the agricultural industry, such as tax exemptions for certain farming activities.
  • Long-term asset growth: Farmland can be a solid long-term investment, with the potential for capital appreciation and additional income from land leasing or farming operations.
JP Egan & Company

Challenges of a Farming Business:

  • Fluctuating income: Income from farming can be unpredictable due to factors like market prices, weather conditions, and changing regulations. Managing your finances carefully is key to smoothing out those fluctuations.
  • Complex tax regulations: The agricultural sector has unique tax laws, including specific rules around VAT, subsidies, and farm income. Without the right guidance, it can be easy to miss important tax benefits.
  • Labour and payroll issues: Managing seasonal workers, farm employees, and contractors can involve complex payroll calculations, including tax and PRSI.
  • Succession planning: Many farming businesses face challenges when it comes to passing the farm to the next generation. Succession planning is key to ensuring the future of your farm.

Simplifying the Complexities of Farming Accounts

JP Egan & Company

How can we help

At JP Egan & Company, we provide a full range of accounting and advisory services to farmers, helping you navigate the financial aspects of your farming business. Our expertise allows us to simplify complex tax matters, optimise your finances, and ensure that your farming business is positioned for success.

01.
Farm Income Tax Returns:
We handle all aspects of farm income tax returns, ensuring accurate reporting of income and maximising eligible deductions and reliefs.
02.
VAT Returns & VAT Advice:
If you’re VAT-registered, we ensure timely and accurate VAT returns, offering advice on how to manage VAT for farming operations.
03.
Tax Planning & Reliefs:
We help you identify the best tax planning strategies, including capital allowances, subsidies, and tax reliefs tailored to the agricultural sector.
04.
Succession & Estate Planning:
Planning for the future is vital in farming businesses. We provide expert advice on succession planning, including how to pass the farm onto the next generation while minimising tax liabilities.
05.
Farm Accounts & Financial Reporting:
We keep track of all financial records, ensuring your farm accounts are up to date, accurate, and in line with regulatory requirements.
06.
Grant Applications & Compliance:
We assist with the application process for government grants, subsidies, and compliance with agricultural funding requirements.

Our Simple 3-Step Process to Switch:

JP Egan & Company

Switching Accountants is Easy

Changing accountants doesn’t need to be complicated or stressful. At JP Egan & Company, we’ve made the process seamless, with no tax implications. Our experienced team will guide you through every step of the transition, ensuring there’s no disruption to your business operations.

01.
Get in Touch:
Contact us for a free initial consultation. We’ll understand your needs, explain the process, and discuss how we can help your business.
02.
Talk to an Expert:
One of our experienced accountants will work with you to review your current setup and offer advice on how we can best manage your financial affairs going forward.
03.
Get a Quote:
We offer transparent, fixed-fee pricing based on your needs. You’ll know exactly what to expect — no hidden costs, just the services you need to succeed.
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