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The purpose of this exemption is to encourage the transfer of agricultural land from one generation to the next.

Agricultural land includes the land, farm houses, and farm buildings.

A zero rate of Stamp Duty applies to farmers who qualify.

Qualifying Conditions

There are a number of conditions that must be complied with by the young farmer at the date of the execution of the deed of transfer:

  1. The “young trained farmer” must be under 35 years of age;
  2. He/she must have attained one of the necessary qualifications as listed in the Revenue leaflet (e.g.  at the date of transfer, must be under 35 years of age and be the holder of a letter confirming satisfactory completion of a course of training approved by Teagasc for persons who, in the opinion of Teagasc, are restricted in their learning capacity due to physical, sensory, intellectual disability or to mental health. Where Teagasc certifies that any other qualification corresponds to a qualification as set down and that other qualification is deemed by the National Qualifications Authority of Ireland to be at a level on the National Framework of Qualifications, equivalent to that of the listed qualifications, then that other qualification will be treated as a qualifying one by the Revenue Commissioners for the purposes of the relief.
  3. The farmer must undertake to spend not less than 50% of his/her working time farming the land after the transfer; and
  4. The land cannot be sold for five years unless such lands are replaced within one year of disposal

Important matters to note:

  • If the land is being transferred into joint ownership, all joint owners will need to satisfy the criteria set out above.
  • If the land is being transferred to a young trained farmer that has a restricted learning capacity, a letter from Teagasc will need to be furnished to the Revenue Commissioners confirming in their capacity satisfactory completion of a Teagasc approved course for those who in the opinion of Teagasc are restricted due to physical sense or intellectual disability or mental health.

Note: in relation to Stamp Duty, there is a full exemption from Stamp Duty in the case of a transfer to a young trained farmer.

For further information, or to discuss any aspect of farming law, please Contact Us for a consultation.

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