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Herdnumber/Agricultural lease question

  • 12-04-2023 6:38pm
    #1
    ceistamhain
    Registered Users Posts: 10 ✭


    Hi all,

    I want to take over my fathers herdnumber. We have about 6 acres and I want to rear a few calves every year. Have been doing this since last year, but using his herdnumber. He has no animals, and hasn't for a few years.

    I've got the ER1 form and it says i have to provide proof of ownership or a lease agreement. I haven't either. Land is in his name and will remain so.


    Do I have to get a lease drawn up? Someone mentioned it having to be stamped by revenue for stamp duty purposes? No money will be changing hands and he'll be holding onto whatever entitlements held.


    If anyone could help or give any info, I'd really appreciate it.



Comments

  • #2
    148multi
    Registered Users, Registered Users 2 Posts: 1,589 ✭✭✭148multi


    I think the reason for a lease to be stamped is so the owner can claim tax free income from it and perhaps a agri scheme.

    Could be totally wrong though.



  • #3
    ceistamhain
    Registered Users Posts: 10 ✭ceistamhain


    There won't be any money changing hands, maybe €1 per annum. So would I still need to have it stamped?

    I didn't think we would need all this to change names on an existing herdnumber



  • #4
    Hard Knocks
    Registered Users, Registered Users 2 Posts: 4,064 ✭✭✭Hard Knocks


    https://www.boards.ie/discussion/comment/120470879#Comment_120470879

    I think you and your father should go to an Agri advisor. They can sort all that for you



  • #5
    893bet
    Registered Users, Registered Users 2 Posts: 9,115 ✭✭✭893bet


    https://www.boards.ie/discussion/comment/120470879#Comment_120470879

    no need to stamp for tax reasons as you cant avail of that tax free allowance from father to son but I expect for the heard number transfer the lease needs to be stamped still as they want evidence if tax compliance typically.


    If rent is nominal then there is potentially gift tax consideration but 6 acres will be below the threshold.


    But if the lease and herd number are in your name I don’t think he can claim the entitlements as he is no longer an active farmer.



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