Tax returns.

How does your profit and off farm income compare to previous years.

More income = more tax

To be honest, asking here is really going to be a waste of time as people here don't see your tax return nor last years.

This is what you are paying your accountant for (admittedly they aren't really charging you a lot). So if you don't understand why it's changed make an appointment to see them again and ask them to take you through the results and explain why they are different to the year before.

They should have no problem with that, and you'll understand where the differences are. Accountants should normally explain the result to you. They might have done so already but you didn't take it in at the time, or they might not have seen it as a big changes and not clarified why it had moved.

If your accountant refuses to explain the figures then you need a new accountant. No point in having one that won't explain the results to you. I'd be shocked if they refused to explain the differences to you.

Don't get high and mighty complaining about the bill. Just explain that you are shocked by the change and that you'd like to understand why it's different to the year before and would appreciate it if they could go through it with you.

That's all you have to offer? Insinuate that the accountant didn't do enough work to justify a fee of the huge amount of 600e? That's about the smallest fee any of our sole traders would pay.

Very difficult to give you advice OP, without knowing more details, but what I will say is that the vast majority of our farmer clients have substantially higher tax liabilities this year.

And next year will probably be worse.

Are you on income averaging?

Have you any teenage kids you could pay a wage to?

Are you interested in adding to a pension?

Out of curiosity, could you give us a very rough idea if you don’t, say your beef farmer that paid €2500 in tax in 2023, what do you think they will pay in 2024 and 2025? Someone in full employment

Impossible to say how your tax liability will work out. A lot of other variables to take into account.

But, your farm profits should be anywhere from 50% to 100% higher.

But, income averaging will help negate this. Every farmer should be in this.

I know my own profit will be a lot higher, but I'm doing some much needed enhancement work this year. The aim of which, shock horror, is to make more profit next year. And then more tax again. Its a vicious circle.