Registered Farm Partnership
Farm Partnerships, registered on the Department of Agriculture, Food & the Marine are becoming increasingly populaur and are viewed as being critically important to the future development of agriculture.
A Farm Partnership is where two or more farmers join resources and efforts in order to acquire various benefits.
Benefits of Farm Partnership Include:
Succession Farm Partnerships
The objective of succession farm partnerships is to enourage the transfer of farm assets to the next generation of farners, whilst providing a level of protection for the transferors by allowing them to retain 20% of farm assets.
Benefits of Succession Farm Partnership Include:
TAMS
Under TAMS III, individual farmers can apply for grant aid of 40% (60% on certain investments) on investments up to a ceiling of €90000.. A Farm partnership containing 2 partners can benefit from 40% (60% on certain investments) of €180000 i.e €90000 x2. Where one of the partners is a qualifying young farmer, they can benefit from grant aid of 60% on the first €90000 and 40%(60% on certain investments) on the remaining €90000.
Collaborative Grant
As an extra incentive to set up a Farm Partnership the department of Agriculture has a collaborative grant which allows you to potentially recoup 50% of the costs of setting up a partnership (Combination of Legal, Accountancy & Agriculture Advisory fees) to a maximum of €5000 cost i.e max grant of €2500 can be claimed.
If you are interested in forming a registered Farm partnership or would like more informaton Contact us