20% CGT on all entitlement sales

PROCEEDS from the sale of entitlements will be subject to 20% Capital Gains Tax on the entire sum, according to the ACA Farmers’ Handbook, 2005, as the entitlements are deemed to have no base cost.

The handbook, which includes a comprehensive guide to entitlements and the Single Payment Scheme, has been compiled for the Agricultural Consultants Association (ACA) by Tipperary-based farm and forestry consultants, O’Sullivan & Co.

The handbook’s 375 pages also advise farmers and landowners on the full range of farm schemes and planning for farm families.