The following are reliefs and exemptions available to young trained farmers: National Reserve Successful applicants receive an allocation of the new entitlements from the National Reserve on the basis of one entitlement for one hectare at the National Average of entitlements. Young Farmers Scheme Provides for an additional payment for a maximum of 5 years … Read moreYoung Trained Farmers
The land leasing exemption is available to land owners who let their land under a qualifying lease A qualifying lease: is in writing or evidenced in writing. contains the names and addresses of the lessor(s) and lessee(s). specifies the acreage, address, location etc of the land. sets out the terms of the lease. is signed … Read moreLand Leasing Exemption
The succession farm partnership scheme was first announced in Budget 2016. It was subject to EU state approval which was received. The succession farm partnership scheme provides a succession tax credit of €5,000 per annum. It is an initiative set up to encourage farmers to form partnerships with young trained farmers and to then transfer … Read moreSUCCESSION FARM PARTNERSHIPS
The succession farm partnership scheme was first announced in Budget 2016. It was subject to EU state approval which has now been received. The details of the succession farm partnership scheme are being finalised. It is hoped that the scheme will be ready to commence in January 2017. The scheme gives the farmer and their … Read moreSUCCESSION FARM PARTNERSHIP SCHEME
Milk quotas were abolished with effect from 1 April 2015. Section 538 of the Taxes Consolidation Act 1997 allows relief in respect of assets such as milk quotas. However for milk quotas purchased after 1st April 2000, the loss is restricted to the amount of capital allowances granted.