Kieran Coughlan: The advantages of operating a farm partnership

There are effectively three types of partnership when it comes to farming

Operating as a partnership has many advantages. On the tax side, there is enhanced stock relief and on the grants side, double TAMS. 

For those looking to go into partnership or formalise their partnership arrangements, there are about four weeks left for those looking to get on the Farm Partnership Register before applications are suspended ahead of this year’s Basic Income Support Scheme (or BPS as formerly known) deadline in May.

Each year, the Department of Agriculture ceases processing applications for several months out from the deadline to ensure those that are received are processed ahead of the BISS application date. The expected closing date for applications to become a Registered Farm Partnership is February 10.