Deadline looms for registered farm partnerships

CHANGING farm structures is a big decision for any farmer and all Department of Agriculture, Revenue and legal aspects should be reviewed before entering. Once your accountant and /or solicitor have examined the structure and it makes financial, succession and legal sense the next step is to deal with the Department of Agriculture.

The current deadline for applying for a Registered Farm Partnership number in 2021 is the February 26. While you can 100 per cent be in a registered farm partnership after this date, your BPS will remain in your name for the 2021 scheme year.

Your accountant/solicitor must decide on the exact partners in the partnership before you apply to move your herd number to the new partnership name. However, be aware that you cannot move a herd number to a partnership if you have applied for, and have not been granted approval for, a TAMS II grant or GLAS. You must wait until approval has been granted and then transfer the herd number. The other option is to not apply for TAMS II or GLAS in existing herd number name and wait for the Registered Partnership number to be granted and then apply using new structure – enhanced double ceiling for TAMS II. Once the herd number has been moved to the new structure and all other relevant partnership documentation is compiled and completed you are now ready to submit your partnership application to the Department of Agriculture. BPS must follow before the 15th of May. This again is a straight forward process and involves completing the Transfer of Entitlements Form and indicating you are involved in a partnership. If your partnership has been registered with the Department of Agriculture and you have received your Partnership number it is this new Registered Farm Partnership number you use to apply for BPS. If you submitted your registered farm partnership after February 28 then your BPS application will be completed in either your / joint names.