Top tips on maximising farm grant payments
There are different grant rates and limits available depending on a farmer's age and other factors, writes our expert
The Targeted Agricultural Modernisation Schemes (TAMS) have proven to be a very valuable incentive towards farm development since their introduction under the 2014-2020 Rural Development Programme.
With the expected increase in health and safety inspections on farms, an increased emphasis on improving Ireland's water quality and aims to reduce ammonia emissions from agriculture, the TAMS scheme will play a central role in achieving the relevant targets.
The advent of these schemes allied to the introduction of registered partnerships and the growth in limited companies as a trading entity for farmers has created a number of opportunities for farmers to maximise the level of grant aid available through collaborative farming arrangements. The level of aid can be further enhanced where a Young Farmer is part of such a collaborative arrangement.
The maximum grant entitlement will depend on two factors in the first instance, namely, the rate of grant and the investment limit. The rate of grant will be either 40pc or 60pc depending on whether the applicant is a 'Young Farmer' by definition. A 'Young Farmer' means a person who is not more than 40 years of age at the time of submitting the application, possesses adequate occupational skills and competence and is setting up for the first time in an agricultural holding as head of that holding. Such a person may be entitled to a 60pc rate of grant while persons other than young farmers may be entitled to a 40pc rate.
Registered partnerships where one partner is a Young Farmer will attract a grant rate of 60pc on the first €80,000 and 40pc on the remainder. In the case of collaborative structures involving Young Farmers, the rate of grant and the investment limit can vary depending on the nature of the structure and these are set out in Table 1.
The investment limit per holding is typically €80,000 for an individual or €160,000 for a registered partnership with two or more eligible partners, with the exception of the Low Emissions Slurry Spreading Scheme as detailed below. There are various collaborative arrangements that may or may not attract the maximum investment limit. These are detailed in Table 2.