Best Ways to Manage Inflation on the Farm
- While inflation is budgeted to run between 7 to 10%, the cost of fertiliser has increased by 250%
- Farmers need to assess their individual situation.
- Farmers should complete their 2021 accounts as soon as possible as it will let them see how the farm performed last year.
- By having their accounts completed they will be in a better position to budget for their tax liability.
Philip Salter is an accountant with FDC in Skibbereen.