Cork Agriculture Tax Consultant

[Peppi]

Hi,

Can anyone advise on a agricultural taxation adviser in the Limerick Kerry area who would specialise in land inheritance?

 

[Ravima]

try IFAC. You should be able to find their number in the phone book.

I could certainly tell you who NOT to go for, but don't want to get into trouble for publicly naming him.

Anyway, despite what some of them will tell you, its not rocket science. You have your tax free exemption and you may qualify for what is called 'agricultural' relief or 'business' relief, which brings down the amount of tax payable.

If you get any of these reliefs though, you must continue to run as a farm for a defined period, that is you cannot rent the land or you change from a 'farmer' to a 'landlord' and the tax saved initially must then be repaid.

 

[Vanilla]

I would highly recommend Pat Lane in the cork FDC office. I have found him to be excellent. He will also travel to the client's home where this is easier for a farmer.

 

[Ravima]

I'd recommend against him, but I'll say no more.

 

[T McGibney]

Anyway, despite what some of them will tell you, its not rocket science. You have your tax free exemption and you may qualify for what is called 'agricultural' relief or 'business' relief, which brings down the amount of tax payable.

Its not rocket science but errors in this area can be extremely expensive. Hence the need for extreme care in determining eligibility and ensuring that all conditions are complied with

If you get any of these reliefs though, you must continue to run as a farm for a defined period, that is you cannot rent the land or you change from a 'farmer' to a 'landlord' and the tax saved initially must then be repaid.

Sorry, this is utterly untrue. The circumstances which give rise to CAT clawback are listed on this Revenue webpage. There is no requirement to actively farm the land, either before or after transfer.