Transfer herd number - form needed

irishguy19772

Can look into this with a farm advisor but anyone have any idea here?

Transferring herd number from father to myself in January ( to make it cleaner for tax purposes and payments in Dec)

The land is staying in his name and I will be farming it as a second income, so doubtful will earn anything from it as will be taxed 40%, but it will pay for itself. And will try to reinvest any little it makes in fencing, farm buildings etc.

I was told before I could download a form from the internet that might be accepted as a lease agreement. Anyone done this?

And I just need to fill out an Er1 form?

Thanks for any advice on this.

irishguy19772

Er1 or ER2

893bet

Are there entitlements with the land?

irishguy19772

Yes. Bps payment.

893bet

There might be a challenge there but someone else can advise better maybe as I may have wrong end of stick.

If he is not farming he can’t claim the BPS.

If the entitlements are transferred to you permanently with out land also transferred then there is a % clawback (or there used to be).

Though maybe you can rent them from him.

I would ring them. As the public service departments go the are usually very helpful on the phone.