BARRY HEALY & COMPANY SOLICITORS MONAGHAN T/A HEALYLAW

BARRY HEALY & COMPANY SOLICITORS MONAGHAN AGRICULTURAL SOLICITORS Succession Planning Advice Grant

From Department of Agriculture, Food and the Marine 

Published on 9 August 2023

Last updated on 15 August 2023

Minister for Agriculture, Food and the Marine, Charlie McConalogue T.D., has announced the launch of a new scheme - Succession Planning Advice Grant (SPAG).

Minister McConalogue said:

“While not unique to Ireland, I recognise that there are considerable demographic challenges in the agricultural sector and am therefore very pleased to announce this new support initiative under Ireland’s CAP Strategic Plan. This Scheme will help older farmers to plan for their future and the future of their farms, by providing financial support towards the costs of legal and financial advice for succession planning.

“It is very important to be able to assist farmers in making what can be very difficult but ultimately very important decisions about the future of their farming enterprise. This scheme will be an important addition to the range of supports for generational renewal already in place, including significant agri-taxation supports; and strong supports for young farmers and collaborative farming under the CAP Strategic Plan.”

The objectives of the Succession Planning Advice Grant Scheme are to:

● Encourage best practice in intergenerational land transfer to address, among other things, significant generational imbalances within farming.

● Encourage and support farmers aged 60 years and above to seek succession planning advice by contributing up to 50% of vouched legal, accounting, and advisory costs, subject to a maximum payment of €1,500.

An information webinar for the new scheme is scheduled for the 6th of September 2023 at 7pm.

A registration link for the webinar is available here , on all Department of Agriculture, Food and Marine social media platforms or you can contact your local advisor for the link to register.

The scheme will open from 19th September, paper application form will be available at the National Ploughing Championships and from the Department website. Application will be open until the end of 2023 and first tranche payment will be in Quarter 1 of 2024.

Eligibility and Who can Access the Grant

Farmers aged 60 years and above who are currently not in a succession farm partnership.

Farming at least a minimum of 3 hectares of land at the time of application.

Farming for a minimum of 2 years prior to application.

Call Barry Healy & Company, Solicitors Monaghan T/A Healy Law 047 71556

barry@healylaw.ie