10 August 2023
Scheme to help with succession planning costs unveiled
The Succession Planning Advice Grant (SPAG), a scheme to help older farmers plan their future and the future of their farms, was announced by the Minister for Agriculture, Food and the Marine, Charlie McConalogue T.D., yesterday, August 9th.
The objectives of the Succession Planning Advice Grant Scheme are to encourage best practice in intergenerational land transfer to address significant generational imbalances within farming. It also aims to encourage and support farmers aged 60 years and above to seek succession planning advice by contributing up to 50% of vouched legal, accounting, and advisory costs, subject to a maximum payment of €1,500.
Those eligible to apply are: farmers aged 60 years and above who are currently not in a succession farm partnership; are farming at least a minimum of 3ha of land at the time of application; and are farming for a minimum of two years prior to application.
The scheme will open from September 19th, a paper application form will be available at the National Ploughing Championships and from the department’s website. Application will be open until the end of 2023 and first tranche payment will be in Quarter 1 of 2024.
An information webinar for the new scheme is scheduled for the 6th of September 2023 at 7pm. A registration link for the webinar is available here.
Commenting at the launch of the scheme, Minister McConalogue said: “While not unique to Ireland, I recognise that there are considerable demographic challenges in the agricultural sector and am therefore very pleased to announce this new support initiative under Ireland’s CAP Strategic Plan.
“This Scheme will help older farmers to plan for their future and the future of their farms, by providing financial support towards the costs of legal and financial advice for succession planning.
“It is very important to be able to assist farmers in making what can be very difficult but ultimately very important decisions about the future of their farming enterprise. This scheme will be an important addition to the range of supports for generational renewal already in place, including significant agri-taxation supports; and strong supports for young farmers and collaborative farming under the CAP Strategic Plan,” he said.
Also read: Farm succession and inheritance planning