Revenue eBrief No. 140/19

15 July 2019

Tax credit for succession farm partnerships

A new Tax and Duty Manual Part 23-02-11 has been created to explain the operation of the succession tax credit. 

The succession tax credit is an annual €5,000 tax credit for succession farm partnerships.  It was introduced to encourage experienced farmers to form partnerships with young trained farmers and to transfer ownership of their farms to those young trained farmers.

The document explains who is eligible for the credit, how it is claimed and the circumstances in which it will be withdrawn.  It also includes a section on how the credit interacts with EU State aid rules.