Hugh Phelan Solicitor & Notary Public — Douglas, Cork
Wills · Probate · Enduring Power of Attorney · Notarisation & Apostille
📞 021-489-7134 Book Appointment →Farm succession in Ireland is one of the most complex areas of estate planning — involving agricultural relief, CAT, stamp duty, and often family dynamics that require careful handling. Hugh Phelan Solicitor advises Cork farming families on farm inheritance.
Agricultural Relief — The 90% CAT Reduction
Agricultural relief can reduce the taxable value of agricultural property (including farmland, farm buildings, farm machinery and livestock) by 90% for qualifying beneficiaries. This is one of the most valuable reliefs in Irish tax law for farming families.
Who Qualifies for Agricultural Relief?
The beneficiary must be a "farmer" — meaning that after receiving the gift/inheritance, at least 80% of their total assets (at market value) must consist of agricultural property. This is known as the "farmer test."
Additionally, since 2014, the beneficiary must either:
- Hold a relevant agricultural qualification; OR
- Farm the land on a commercial basis for at least 6 years after receiving it (using 50%+ of their time on farming)
Farm Succession Planning — Key Considerations
| Issue | Planning Point |
|---|---|
| Which child gets the farm? | Only one can claim agricultural relief unless split |
| Other children's entitlements | Section 117 — must "provide for" all children |
| Spouse's legal right share | Must be considered — cannot be ignored in will |
| Retirement planning | Farm transfers during lifetime can also benefit from relief |
| CAT thresholds | Group A (child): €400,000 threshold before any tax |
Frequently Asked Questions
What is agricultural relief for inheritance tax in Ireland?
Agricultural relief reduces the taxable value of qualifying agricultural property by 90% for a beneficiary who meets the 'farmer test'. It is one of the most valuable CAT reliefs available.
Who qualifies for agricultural relief in Ireland?
The beneficiary must pass the 'farmer test' — 80%+ of their total assets must be agricultural property after the inheritance, and they must have a farming qualification or farm the land commercially.
Do I need a solicitor for farm succession planning in Cork?
Yes. Farm succession involves complex interactions between CAT, the Succession Act, agricultural relief and family law. Hugh Phelan Solicitor advises Cork farming families. Call 021-489-7134.
Hugh Phelan Solicitor & Notary Public — Douglas, Cork
Wills · Probate · Enduring Power of Attorney · Notarisation & Apostille
📞 021-489-7134 Book Appointment →