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Spouses can maximise tax reliefs by making their farm partnership official if neither has off-farm income


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Forward planning: Married couples should look at the possibility of maximising future reliefs available by recognising their farming partnership with the Revenue Commissioners and the Department of Social Protection early on in the business lifecycle.

Forward planning: Married couples should look at the possibility of maximising future reliefs available by recognising their farming partnership with the Revenue Commissioners and the Department of Social Protection early on in the business lifecycle.

Forward planning: Married couples should look at the possibility of maximising future reliefs available by recognising their farming partnership with the Revenue Commissioners and the Department of Social Protection early on in the business lifecycle.

The traditional husband-and-wife family farm structure is still prevalent in a time of farm labour shortages and increased childcare costs.

In a lot of these cases the farm profits are recognised and returned in the sole name of the husband, even when the business is clearly operated jointly by both spouses.

This type of pooled profit filing can arise for various reasons such as a husband already filing farm profits pre-marriage or the wife originally working off-farm in employment, before returning to assist full-time on the farm.