Agricultural Relief

What is agricultural property?

Agricultural property is:

  • agricultural land, pasture and woodland (situated in the European Union or the United Kingdom)
  • crops, trees and underwood growing on such land
  • farm buildings and dwelling houses on the land
  • livestock, bloodstock and farm machinery on the property
  • entitlements to farm payments under EU Regulations
  • milk quotas where transferred with agricultural land (Revenue practice). 

Prior to 20 November 2008, agricultural property included land, pasture and woodland only.

The property must qualify as agricultural property on both the date of the gift or inheritance, and the valuation date. The valuation date is the date the property is valued for tax purposes.

Shares in a company deriving their value from agricultural property do not qualify for Agricultural Relief, but may qualify for Business Relief.

The Finance Act 2017 extended agricultural property to include land on which solar panels and additional equipment are installed. The area of land cannot be more than half of the land included in the gift or inheritance.

Next: What are the conditions for Agricultural Relief?