The announcements featured a range of supports in recognition of the importance of agriculture and the agri-food sector in the economy.
Accelerated Capital Allowances: Farm Safety Equipment
Accelerated capital allowances for expenditure incurred by farmers on certain farm safety equipment, and adaptive equipment for farmers with disabilities are available at 50 percent per annum over two years for eligible equipment.
Under Budget 2025, this measure is being broadened to allow for relief in respect of expenditure by famers on certain Targeted Agriculture Modernisation Schemes (TAMS).
Stock reliefs are given as a deduction from trading income and are available in respect of the computation of farming profits. Subject to meeting certain conditions, a person carrying on the trade of farming is entitled to a stock relief deduction for an accounting period in which there is an increase in the value of the trading stock of the farming trade over the accounting period.
The following three stock reliefs, which were due to expire on 31 December 2024, are now being extended for a further three years to 31 December 2027:
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