Staying ahead of the curve is vital when it comes to good tax advice

I joined ifac in January 2023 from a Dublin firm that specialised in private clients. Coming from a farming background I was keen to escape the city and also wanted to broaden my tax experience. Ifac has almost 40,000 clients across Ireland—from small farms to large SMEs - so there is enormous scope to work on a variety of different projects. 

Food and agribusiness is a fast-growing and very dynamic sector. It’s also one where the tax landscape is constantly evolving, so staying ahead of the curve is vital. For example, when new rules and regulations are on the way, we have to check which clients will be affected and whether we need to update our advice to them.

Whether they are launching a new venture, consolidating holdings, planning a merger or acquisition, entering into a partnership, leasing or franchise arrangement, diversifying or preparing to exit the business, clients always need good tax advice.

Obviously, we have a lot of farm clients but the businesses we support can be involved in anything from launching products into new international markets to succession advice or tax saving structures for existing businesses.

Clients often need to change their structure as their business develops. On a typical day, I could be helping a client devise and implement a strategic initiative, finding a solution for a specific tax problem or answering a tax query for a client or colleague. The problems that clients encounter vary and can be very specific to their individual circumstances. That’s partly what makes tax such an interesting area to work in.

Succession is a big issue for our farm clients and one where it’s crucial to get the tax planning right. Land values are also very topical at the moment because of the sanctions on fertiliser. While high values are beneficial for sellers, they can result in high tax bills for farmers transferring land to the next generation if transactions are not structured correctly.

I think the most rewarding element of my job is meeting a client for the first time, listening to their worries and then explaining the options available to them. “That’s a weight off my mind”, is a line we hear a lot on the tax team.

In my free time, I usually school one or two horses a year for showjumping and eventing and now that I’m back in Kilkenny I enjoy helping my brother who still runs our family farm. 

I hope to enrol for a Diploma Trust and Estate Planning later this year. Ifac is very supportive when it comes to obtaining additional qualifications and there are great opportunities to develop your career here.