Trusted Accountants Limerick
Farm Accountant
Between early mornings, unpredictable weather, and milk prices that seem to change weekly, the last thing you need is tax paperwork keeping you up at night. We understand. At Coffey & Co., we’ve spent over 35 years working alongside farming families across Limerick, Clare, Tipperary, and the Golden Vale region. We know that your time is better spent on the farm than wrestling with Revenue forms.
Here’s the reality: farm accounts aren’t like other business accounts. Income averaging, stock relief, the VAT flat-rate addition, agricultural relief on inheritance – these are reliefs specifically designed for farmers that many general accountants simply don’t know inside out. That’s where having a specialist farm accountant makes all the difference to your bottom line.
Why Choose a Specialist Farm Accountant?
Why does it matter who does your accounts? Because farm finances have challenges that other businesses simply don’t face. Your income might swing dramatically from one year to the next depending on weather, disease outbreaks, or commodity prices. You’re dealing with assets that grow and multiply. And you need to plan not just for this year’s tax bill, but for eventually handing the farm on to the next generation.
A farm accountant who truly understands agriculture will ensure you claim every relief available. We know the difference between the standard 25% stock relief and the 100% relief available to young trained farmers. We understand when income averaging makes sense and when you might benefit from the temporary step-out option in a difficult year. And we can guide you through farm succession planning so your family doesn’t face an unexpected tax bill when it’s time to pass on the land.
Farm Accounting Services We Provide
Farm Tax Planning and Compliance
Irish farmers have access to several valuable tax reliefs, and we make sure you benefit from every one that applies to your situation. Income averaging allows you to smooth your taxable profits over five years, which can significantly reduce your tax bill in good years. If you’re not VAT-registered, the flat-rate addition (4.5% from January 2026) compensates you for VAT paid on inputs. Stock relief provides a 25% deduction on increases in livestock value, with enhanced rates of 50% for registered farm partnerships and 100% for qualifying young trained farmers. We handle all your Revenue filings through ROS, ensuring you never miss a deadline. Learn more about our tax advice services.
Annual Accounts and Financial Reporting
Whether you operate as a sole trader, partnership, or limited company, we prepare clear financial statements that give you a true picture of your farm’s performance. Good accounts aren’t just about compliance – they’re a tool for making better decisions about your enterprise. We can show you which parts of your operation are actually profitable, where costs are creeping up, and how you’re tracking against previous years. If you’re applying for bank finance or grant funding, properly prepared accounts make that process far smoother.
Bookkeeping and Record-Keeping Support
We know you’re busy. Between milking, feeding, fieldwork, and everything else that needs doing, paperwork often gets pushed aside. Our bookkeeping services take that burden off your shoulders. We’ll organise your receipts and invoices, reconcile your bank accounts, and keep your records in order throughout the year. If you’d prefer a more hands-on approach, we can set you up with Xero cloud accounting and show you how to keep track of things yourself.
Farm Succession Planning and Tax Advice
Transferring a farm to the next generation is one of the biggest financial decisions your family will make. Get it right, and you can pass on the land with minimal tax impact. Agricultural Relief reduces the taxable value of farm property by 90% for Capital Acquisitions Tax, while CGT Retirement Relief can eliminate capital gains tax entirely for qualifying transfers. The Succession Farm Partnership Scheme offers a tax credit of up to €5,000 annually for farmers who bring a young trained farmer into the business. We work closely with solicitors to ensure your succession plan is properly structured. Our business advisory team can guide you through these options.
Farm Payroll Services
If you employ farm workers – whether full-time staff, seasonal help, or relief milkers – you need to comply with PAYE Modernisation. That means reporting every payment to Revenue in real-time. Our payroll services handle all of this, producing payslips, filing returns, and keeping you compliant without adding to your workload.
We can help, just follow these 3 easy steps.
Get In Touch
We offer a complimentary initial consultation to discuss your farm’s accounting needs. Meet us in person at our Limerick office or chat over a video call – whatever suits your schedule.
Talk To An Expert
We’ll review your current situation, identify any tax reliefs you might be missing, and explain how we can help. No jargon, no pressure.
Get A Quote
We’ll provide a clear, fixed-fee quote tailored to your farm’s specific requirements.
Are You Planning to Change Accountants?
We’ve been advising farmers in Limerick and surrounding counties for over 35 years. That experience means we understand the realities of Irish farming – from the seasonal cash flow pressures of a dairy operation to the record-keeping needs of beef, sheep, or tillage enterprises. We’re members of CPA Ireland and Chartered Accountants Ireland, so you can be confident your accounts are in qualified hands.
The beauty of working with us is our fixed-fee pricing. You’ll know exactly what your accountancy costs will be each year – no surprises, no hourly bills that spiral when things get complicated. And because we’re based locally in Annacotty, we’re always available for a face-to-face meeting when you need one. We explain everything in plain English, not accountant-speak.
Contact Coffey & Co. today for a no-obligation conversation about your farm accounting needs.
Contact Us Today
FAQ
What is farm income averaging and how can it save me tax?
Income averaging allows eligible farmers to be taxed on the average of their farming profits over five years rather than actual profit in any single year. This smooths out the peaks and troughs common in farming, preventing you from being pushed into a higher tax bracket after a good year. You can also temporarily step out of averaging in a particularly poor year to pay tax only on that year’s lower income.
Can I change accountants easily?
Absolutely. There are no tax implications to switching accountants, and you can do so at any time of year. We’ll handle the entire transition, requesting your records from your previous accountant and ensuring nothing falls through the cracks.
Do you work with farmers outside Limerick?
Yes. While we’re based in Limerick, we serve farming clients throughout Munster and beyond. Our online services mean we can work with you wherever your farm is located. See our full range of accountancy services.