The new Succession Planning Advice Grant (SPAG) for Farmers

A new grant scheme to help farmers with the costs of legal and financial succession planning advice is to be launched from Tuesday 19th September 2023.

The Succession Planning Advice Grant (SPAG) aims to encourage best practice in intergenerational land transfer to address, among other things, significant generational imbalances within farming.

The scheme will help vouched legal, accounting, and advisory costs, subject to a maximum payment of €1,500.

To qualify for this grant,

·       the farmer must be 60 years or over,

·       must be farming for a minimum of two years prior to the application and

·       must have drawn down payments on at least a minimum of three hectares of land.

It is essential for every farmer to have a farm succession plan in place. There are complex legal and taxation rules that, if planned for, can be managed easily. With this new scheme in place, it will encourage farmers to avail of this grant and help plan the future of their farms

Paper application forms will be available at the National Ploughing Championships and from the Department of Agriculture, Food and the Marine (DAFM) website.

The first tranche payment will be in Quarter 1 of 2024

For any more advice on this, please get in touch with Aoife at reception to organise a meeting with Declan on 051 421212 or by email on info@kellycolfer.ie