Revenue has updated the Tax and Duty Manual on leases of farmland to reflect a Commission Regulation increasing the allowable ceiling of de minimis aid from 16 December 2024.
Section 81D of the Stamp Duties Consolidation Act 1999 provides relief from stamp duty for a lease of farmland whose term is not less than six years and does not exceed 35 years. In addition, the lands must be used exclusively for farming carried on by the lessee on a commercial basis and with a view to the realisation of profits.
This relief is considered a State Aid therefore the manual has been updated to increase the allowable ceiling from €20,000 to €50,000 with effect from 16 December 2024. The manual has also been revised to note that the ceiling applies to the amount of all de minimis aid that is granted in accordance with the Regulation, whether given by way of tax relief or direct grants.
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