renting out land?

carcof

Hi can anyone advice please I have inherited my late fathers property and roughly 20 Acres of land, whats the best way to rent out any land to local farmers for grazing, grass cutting etc and would I get a local agent to sort this out its in Co Kerry.

Belongamick

Unless you want to be chasing lads for a few bob every now and then, getting fobbed off etc.. Speak to an estate agent about renting using a contract stating when payment occurs, how may years, fencing arrangements etc. If you have no great love of the farm and PAYE, forestry may interest you. Good Luck..

tom_k

You may qualify for tax relief on leases of 5 years or more. This would necessitate a lease in writing.

http://www.revenue.ie/en/tax/it/reliefs/leasing-farm-land.html

Also, you should contact the Inheritance Inquiry Unit (if you haven't done so already) of the Dept. of Agriculture who can assist you with entitlements information and payment of any amounts owed to your late father under any scheme.

http://www.agriculture.gov.ie/customerservice/inheritanceenquiryunit/

ganmo

tom_k wrote: »

You may qualify for tax relief on leases of 5 years or more. This would necessitate a lease in writing.

http://www.revenue.ie/en/tax/it/reliefs/leasing-farm-land.html

Also, you should contact the Inheritance Inquiry Unit (if you haven't done so already) of the Dept. of Agriculture who can assist you with entitlements information and payment of any amounts owed to your late father under any scheme.

http://www.agriculture.gov.ie/customerservice/inheritanceenquiryunit/

Op is in the UK going from their other thread so I doubt the tax free lease will be available

tom_k

ganmo wrote: »

Op is in the UK going from their other thread so I doubt the tax free lease will be available

OK, can ignore that part so. Wasn't aware of another thread.