Guide to farm partnerships welcomed

Ireland: The dos and don’ts of farm partnerships are outlined in a comprehensive guide just published by Teagasc.

It has been produced by an expert group drawn from Teagasc, the Department of Agriculture and Food, accountancy, taxation and legal experts. It was supported by ACC Bank, the Irish Co-operative Organisation Society (ICOS), the IFA and Macra na Feirme.

Called Partnerships and Farming, it was described as a landmark publication by Teagasc Director, Jim Flanagan.

“It will be of immense value to farmers contemplating a partner- ship and will be a vital reference source for solicitors, accountants and advisers involved in establishing partnerships,” said Mr Flanagan.

“The publication also includes ‘specimen’ farm partnership agreements,” he added. Mr Flanagan complimented the Law Society for its support for the new publication which has recommended its use by solicitors and has said it will obviate the necessity for a substantial part of the difficult negotiations leading to the formation of a partnership.

It has also made the specimen agreements available for downloading by solicitors from the Law Society website.

The Minister for Agriculture and Food also launched a Revenue Commissioners’ booklet on the taxation issues involved in setting up, operating and dissolving a farm partnership. A new dairy partnership finance package was also announced by ACC Bank.

Ben Roche of the Dairy Partnership Registration Office at Teagasc, Moorepark said these new initiatives are coming at a time of increasing interest in farm partnerships.

“This increased interest has resulted from changes in the milk quota regulations last year which enable partnership arrangements between a parent and a son or daughter, in addition to partnerships between unrelated dairy farmers,” he said.

Partnerships and Farming is available from the Teagasc Publications Office for €10. Phone: [phone], email: [e-mail] It can also be ordered from www.teagasc.ie