If you dispose of land to make your farm more efficient then you may be able to claim this relief. Teagasc (the Agriculture and Food Development Authority) must issue a certificate in order for you to claim this relief.
This certificate must state that you carried out the transaction for farm restructuring purposes.
Conditions
- The first sale or purchase must be from 1 January 2014-31 December 2023.
- The next sale or purchase must be within 24 months of the first sale or purchase.
- You may also be able to claim relief where you exchanged land with another person.
The amount of relief you can claim will be reduced if the land has a higher value than either:
- Land you purchased
- Land you received in exchange for your land
Comments (0 comments)