Farmers can earn up to €257/ac each year through forestry
A well-managed forest is a growing asset which primarily enhances wealth creation for farmers and provides a diversified income stream especially in times of uncertainty.
Two grant schemes are in place to plant forests for farmers, landowners and investors; the Afforestation Grant and Premium Scheme and the Native Woodland Scheme.
Farmers can earn up to €257/ac every year, depending on the species planted.
Establishment Premium Rates (€/acre)
10 key benefits of planting forestry on your land
- Planting is 100% grant aided by the Forest Service.
- Stable and secure income for up to 15 years from forest premiums.
- The forest premium can increase income from poorer land.
- Farmers can retain their single farm payment entitlements.
- Reduced farm input costs as planted land requires a lot less costly inputs.
- Forestry enhances the environment by increasing biodiversity, capturing carbon and use of fertiliser and pesticides.
- Forest owners benefit from having their own sustainable fuel source thus reducing fossil fuel costs.
- Provides shelter to the farm helping stock to thrive.
- Less time consuming than other farm enterprises allowing more time to be spent on more productive farm enterprises.
- Forestry is tax efficient. The forest premium and timber income are free from income tax. Stamp Duty and Capital Gains only apply to the land not the timber and forestry qualifies for agricultural relief for inheritance tax.
Veon undertakes all aspects of woodland and forestry management helping customers to achieve their objectives and maximise their property’s potential.
The company plants and manages a diverse variety of species from native species to commercial conifer plantations.
It is committed to helping develop Ireland into a powerhouse of forestry activity and promoting a culture of timber and a wider appreciation of the woodland sector and its importance to Irish society.
Veon’s specialist skills include:
- Planting and woodland creation.
- Protection and maintenance of young plantations.
- Planting design and species choice.
- Forest roading.
- Digital mapping and surveying.
- Preparation of plans and production forecasts.
- Grant aid applications.
- Forest Insurance.
Farmers can find out more about how they can plant a forest on their land and can work out how much income they can make from forestry, by using Veon’s online income calculator.