Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Query 're inheriting farm

  • 16-07-2015 8:56pm
    #1
    feardeas
    Registered Users, Registered Users 2 Posts: 307 ✭✭


    Hi. Early 30s here and from farming background. Up front hated the solid sight of working on the farm and havnt done it since I left for university 15 years ago. Since then involvement has been minimal stopping in animals and odd bit of feeding if my father wasn't well.

    Now just wondering about inheritance tax on farms. Know this may sound a bit like the greedy prodigal son but I'm not. There's two of us in the family and I assume the farm will be split between us. My father has said something about a green cert course to avoid paying a high rate. However I just noticed on another forum that that is about 2k and quite time intensive.

    I wouldn't have the time to give to it and from the above I would have no interest. I just wonder where the best place to get I go might be. I don't want to end up having to sell the farm to pay the tax. While I have little interest I'm minded to rent it out as I have a connection to it and appreciate the work put into it over the years.

    This would hopefully a long way away as my father is not an old man and is in good health. So much so that he doesn't believe in a will yet but sin sceal eile


Comments

  • #2
    Username John
    Closed Accounts Posts: 4,237 ✭✭✭Username John


    feardeas wrote: »
    Hi. Early 30s here and from farming background. Up front hated the solid sight of working on the farm and havnt done it since I left for university 15 years ago. Since then involvement has been minimal stopping in animals and odd bit of feeding if my father wasn't well.

    Now just wondering about inheritance tax on farms. Know this may sound a bit like the greedy prodigal son but I'm not. There's two of us in the family and I assume the farm will be split between us. My father has said something about a green cert course to avoid paying a high rate. However I just noticed on another forum that that is about 2k and quite time intensive.

    I wouldn't have the time to give to it and from the above I would have no interest. I just wonder where the best place to get I go might be. I don't want to end up having to sell the farm to pay the tax. While I have little interest I'm minded to rent it out as I have a connection to it and appreciate the work put into it over the years.

    This would hopefully a long way away as my father is not an old man and is in good health. So much so that he doesn't believe in a will yet but sin sceal eile

    http://www.revenue.ie/en/tax/cat/leaflets/cat5.html


Advertisement