Profits on most Irish farms improved in 2021 but supply pressures and inflation are driving up input costs. Rising fuel and energy costs will erode profitability on many farms while in sectors like tillage, higher winter planting costs will potentially wipe out any price gains that farmers achieve. At times when input costs are rising, budgeting, cost control and cashflow management become more important than ever. This webinar was chaired by Jack Kennedy, Deputy Editor of the Irish Farmers Journal with ifac’s Declan McEvoy, Head of Tax, Philip O’Connor, Head of Farm Support, and Martin Glennon, Head of Financial Planning with insightful input from Ashleigh Fennell, Dairy Farmer and Olwyn Owens, Beef and Tillage Farmer.
Jack Kennedy is the Deputy Editor with the Farmers Journal which he joined in October 2002. His main areas of responsibility relate to outlining the best existing and emerging technology inside the farm gate to dairy farmers. He previously worked as a researcher at Moorepark Grassland and Dairy Research Centre. He hails from a farming background in Cahir, Co Tipperary. He has a degree from the University College Dublin in Agriculture and a doctorate from Moorepark and UCD. His interests outside of farming are cycling and following all sports.
An AITI Chartered Tax Adviser (CTA), Declan McEvoy is Head of Tax for Ifac. Declan has extensive experience and expertise in personal and corporate tax planning, estate and succession planning, tax based investment and financial structuring for family and farm businesses.
A leading authority on farm taxation, Declan has written and lectured extensively and is frequently quoted in business and farm publications and the general media. He recently was co-author of ‘Farming in a Limited Company – is it right for you?’ and was a key contributor to Ifacs recent information booklets on Farm structures and Succession. Declan is also an Irish Tax Institute Registered Tax Consultant and a Qualified Trust and Estate Practitioner and frequently speaks at national seminars and client workshops.
Head of Farm Support with ifac, Philip O'Connor has 20 years' experience working with farmers across Ireland to help them maximise their businesses. Philip is skilled in farm business planning, farm financial management, and farm business development. Hailing from a Dairy farm in South Tipperary, Philip was raised in a farming community and remains in a Partnership with his brother on the farm to this day.
Martin Glennon is ifac’s Head of Financial Planning. With the QFA, SIA and CERTIFIED FINANCIAL PLANNER™ designations under his belt, along with 30 years’ experience, Martin specialises in providing advice on retirement planning, protecting families & business, and investments. Martin is a past President of the LIA (the educational body for the life and pensions industry) and continues to lecture students who are studying to be Qualified Financial Advisers (QFA).