Kieran Coughlan: Accelerated capital allowances are back on the table
The allowances are available over a wider defined description than simply ‘slurry storage’.
It seems like a lifetime away since Ireland’s farmers were able to claim accelerated capital allowances under so-called "farm pollution control allowances", covering buildings and structures such as soiled water storage tanks, tank fences, dungsteads and walled silos.
With farm buildings and structures, usually the cost of such work is allowable for tax purposes over a seven-year period at a rate of 15% per year and 10% in year seven. However, with accelerated allowances, the write-off against profits can be much quicker.
