With an array of tax exemptions and new schemes announced by the Government in the budget this week it’s important to highlight that many of the announcements are only relevant to what’s known as an active farmer.

Do you make the grade?

This definition is based on meeting one of the following criteria

Holding of a recognised agricultural qualifications (expected to be in line with young farmer stamp duty exemption qualifications listed in schedule 2B of Revenue Leaflet SD2B and section 81AA of SDCA 1999) or equivalent as certified by Teagasc; or,
Is an individual who spends not less than 50% of that individual’s working time farming; or,
Who leases out the land to a farmer on a long term lease (duration to be confirmed in the Finance Bill – but may be. for a minimum of six years as there is a minimum six-year holding period for land received by gift/ inheritance on which Agricultural Relief is claimed).