Kildare farmers reminded of upcoming TAMS III scheme deadline
The closing date for the next tranche of the Targeted Agricultural Modernisation Scheme (TAMS III) is April 12
Ifac Ireland’s farming, food and agribusiness specialist professional services firm, is reminding farmers across Kildare that the closing date for the next tranche of the Targeted Agricultural Modernisation Scheme (TAMS III) is April 12.
The grants available under TAMS III are 40% of €90,000 and this increases to 60% if an applicant is a Young Trained Farmer. Registered farm partnerships also allow for an increased ceiling of a grant claimable on a total spend of up to €160,000. The next tranche will open on April 13.
Alvin Soden, Partner at Ifac’s Naas office said, “The Low Emissions Slurry Equipment grant is another grant that is often forgotten about. The grants available here on certain slurry spreading equipment are 40% of €40,000 and this increases to 60% if an applicant is a Young Trained Farmer (must apply through YFCIS). And, registered farm partnerships are allowed an additional ceiling with a total spend of up to €60,000.
“But the key advice is not to rush the decision on investment for the sake of meeting a deadline – this could be far more costly than delaying your application and making the right investment for your farm. Always get expert advice to help you plan for the future.”
The following are three key areas when looking at capital investment:
Should You Make the Investment?
- Will the capital expenditure give a Return on Investment?
Cash flow Pressures
- Have you adequately financially planned the investment?
- If borrowing, have you the required borrowing capacity?
Tax Planning Issues
- Consider the Value Added Tax (VAT), Income Tax and Capital Repayment Trap.
A top-ten accountancy firm with a 30-office footprint and a dedicated team of 500 professionals, Ifac has been committed to serving its farming, food, and agri-business clients across the country for the past 49 years.