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Buying or Selling a Farm

At John A. Sinnott & Co. Solicitors, we recognise that farming and agri-business is vital to our community and our economy.

We have extensive experience in this area and can help you with the buying and selling of agricultural property from the initial stages of establishing the property boundaries, right through to signing the contract and completing the transaction.

Buying a Farm or Land

It is important to seek advice from your solicitor and accountant early when embarking on the purchase of agricultural land.  Points to consider are:

  • Whether it is better to buy the land in your own name or to purchase it using a company structure.
  • If you are borrowing to fund your purchase, only the interest on your loan is allowed as a tax deduction.
  • All costs and not just the purchase price.  These will include land registry fees, VAT and stamp duty.  The current rate of stamp duty is 6% of the purchase price, however, this cost can be reduced if you qualify for certain stamp duty reliefs.

Selling a Farm or Land

If you are disposing of an entire farm, a parcel of land or a site, it is important to consider what the land will be used for once you sell it.  The intended use of the land will have implications for you in respect of tax and the value of the land. 

Is it being sold for agricultural purposes, as development land or for a private residence? Does it have planning permission for the intended purpose?  Capital Gains Tax at 33% is chargeable on the sale of land in Ireland.  However, certain reliefs apply depending on who you sell it to (family member, non-family member) and the intended purpose of the land.

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