Taking over farm 2022

irishguy19772

Any advice on where to go to get some pointers on taking over farm?

Can chat to our accountant but wondered if teagasc would help?

Taking over a small family farm next year. 10 cows and a bull. Slatted shed and about. 40 acres of average marginal land. Selling weanlings, beep sceheme and Bps schemes are what are bringing in money

I work full time so planning to reduce herd by a couple of cows and try to get on new schemes.

Have introduced a camera for calving and improved fencing, added pasture drinkers

Any advice on anywhere in Clare Galway area I could go for advice?

mr.stonewall

You will have to complete a business plan that will be signed off by teagasc for young farmer stamp duty relief.

Good accountant, and good solicitor is a must. Also valuations of land, stock and other farm assets eg machinery.

You will have to have 90% of total assets after the transfer to get the stamp duty relief.

Give it lots of time to complete as these things tend to take time.

Its a few years since I did it but the bits and pieces take time to gather

irishguy19772

Thanks for the tips above

Unfortunately I am 36, so possibly too old now for the young farmer stamp duty relief.

I am trying to ascertain would it be best to transfer herd number or to have a joint herd number.

The assets will stay in his name for a while

This will probably be the first step in passing the farm over.

crackcrack30

Hi,

If you go into the irish examiner website there is a great article covering alot of your querys.... type in to search in site..

The farm transfer dilemma: Through your will or while you are still alive