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Recently inherited farm. How can i get entitlements for it ?

  • 14-01-2018 10:50am
    #1
    techtom
    Registered Users, Registered Users 2 Posts: 83 ✭✭


    It is rough rush land in Tipperary and am considering forrestry.
    What is best way to get entitlements for the land ?

    Thanks for any help in advance.

    G


Comments

  • #2
    Siamsa Sessions
    Moderators, Society & Culture Moderators Posts: 4,175 Mod ✭✭✭✭Siamsa Sessions


    techtom wrote: »
    It is rough rush land in Tipperary and am considering forrestry.
    What is best way to get entitlements for the land ?

    Thanks for any help in advance.

    G

    This would be best explained over a coffee or a pint. Have a chat with a local advisor or maybe an IFA rep.

    In a nutshell, entitlements are a bit like shares. You either own them already or you try buy them. Then “activate” them on the land. You can also apply to the National Reserve for them if you’re under 40, have an ag cert, and earn less than €40k (check that amount).

    But if the land is not already in forestry you can’t activate new entitlements on a new plantation. If entitlements are already in place and being activated on the land, then you can plant it and still activate the entitlements on it.

    Trading as Sullivan’s Farm on YouTube



  • #3
    techtom
    Registered Users, Registered Users 2 Posts: 83 ✭✭techtom


    Thank you for taking time to answer Siamsa.

    How come there is so little trading of entitlements at the moment where can i buy them.


  • #4
    wrangler
    Registered Users, Registered Users 2 Posts: 11,431 ✭✭✭✭wrangler


    techtom wrote: »
    Thank you for taking time to answer Siamsa.

    How come there is so little trading of entitlements at the moment where can i buy them.

    I've entitlements that I'm not using this year, but selling them is a non runner.
    Haven't fully researched it yet but last year to sell them you had to give 20% of them back to National Reserve and then sell the rest and pay capital Gains Tax on the money


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