Budget 2009 - Farming Taxation

Farmers’ Flat Rate Addition

The farmer’s flat rate addition is being maintained at 5.2% for 2009. The flat rate is designed to recoup non-VAT registered farmers for the VAT they incur on their inputs.

Extension of Stamp Duty Relief for Young Trained Farmers

Stamp duty relief is available for farmers acquiring land, who are aged under 35 and have specific agriculture training. The relief is due to terminate on 31 December 2008. This relief is now being extended for a further period of 4 years and the relief will apply in respect of instruments executed no later than 31 December 2012

Extension of Farm Duty Relief for Farm Consolidation

Stamp duty relief is available to a farmer consolidating his/her holding. The relief is due to terminate on 30 June 2009 and this termination date will be extended to 30 June 2011.

Farmers’ Stock Relief

Provision is being made to renew the 25% general farming stock relief and the special 100% stock relief for Young Trained Farmers for a further 2 years to 31 December 2010.

Farm Pollution Control Relief

Provision is being made to extend the 31 December 2008 deadline of the scheme of capital allowances for expenditure on certain pollution control measures relief to 31 December 2010.