Kilroy's College

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Farm Accounting & Taxation course

Course Contents

Remember, you can complete this Farm Accounting & Taxation course within 12 months of enrolling. So take your first step by contacting us today !

Getting Started

P.A.Y.E

VAT/Taxation

Capital taxes

Income tax


Detailed Content

Getting Started

  • Introduction
  • What are Farm Accounts?
  • Starting a System
  • Cash Planning
  • Examples

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Controlling costs

  • Management/Cost Accounts
  • Acreage and Rent
  • Areas in which Cost Accounts should be Kept
  • Cost Accounts and Financial Accounts
  • Analysis

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Dealing with the Bank

  • Getting a Loan
  • Treatment of Interest in Accounts
  • Reconciling the Bank Statement

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A costing system

  • Introduction
  • Physical Records
  • Variable & Fixed Costs
  • Balance Sheet
  • Depreciation
  • Review
  • Example - Livestock on Farm
  • Planning
  • Example - Filing Systems

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Tackling tax issues

  • Income Tax
  • Schedule D - Cases I, II, III, IV
  • D.I.R.T.
  • Schedule D - Case V, Schedules E and F
  • Exemptions From Income Tax
  • Tax Year
  • Allowances
  • Rates of Tax
  • Farm Income
  • Commencement/Cessation Rules After Finance Act 1990

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Reliefs, Expenses, valuations

  • Introduction
  • Reliefs
  • Other Allowances and Reliefs
  • Medical Expenses
  • Self-Employed Pension
  • P.R.S.I. for the Self-Employed
  • Valuation of Stock
  • Valuation of Bloodstock - Stud Farms
  • Stock Relief for Farmers
  • Financial Year

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P.A.Y.E

  • P.A.Y.E.
  • Employer's Duties
  • Benefits-in-Kind
  • Tax Tables

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VAT/Taxation

  • VAT for Farmers
  • Farmers Taxed Partly on PAYE Basis & Self-Employed Basis
  • Taxation on Married Couples

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Profits / Capital allowances

  • Averaging of Farm Profits
  • Capital Allowances

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Capital taxes

  • Capital Acquisitions Tax
  • Capital Gains Tax

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Income tax

  • Self-Assessment - Income Tax

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