Expanded TAMS III deadline
Extended scheme is a welcome boost to the local farming community
7th of March is the closing date for the next tranche of the Targeted Agricultural Modernisation Scheme (TAMS III). The Department has also announced closing dates for further 2025 tranches. These include June 6th, September 5th, and December 5th.
In addition, the new Minister for Agriculture, Food and the Marine has also announced a new TAMS III grant for all of the 2025 tranches. This is a separate TAMS III payment with grant aid paid at 60% of €90,000 and is ring-fenced from all other TAMS grants. Qualifying investments include a manure pit (60%); a mass concrete tank (60%), including precast tanks; circular slurry stores (60%); or a geo membrane lined store (60%).
The grants available under the other TAMS III grants are 40% of €90,000 and this increases to 60% if an applicant is a Young Trained Farmer or Women in Agri. Registered farm partnerships also allow for an increased ceiling of a grant claimable on a total spend of up to €160,000.
Philip O'Connor, our Head of Farm Support said:
“The addition of the new separate targeted slurry storage grant to the existing TAMS III portfolio is a welcome boost to the local farming community to assist with the modernisation of facilities and the collective effort to improve water quality.
“There are now numerous grants, and associated ceilings, in the overall TAMS scheme making it more complex to navigate. At ifac, we always advise farmers to get expert advice to help you decide on the right investment at the right time rather than rushing the decision for your farm. Your agri advisor will help you to plan for the future and help with your application if that’s the right option for you.”
The key considerations for farmers are as follows when looking at capital investment:
Should you make the investment?
Will the capital expenditure give a Return on Investment?
Cash flow pressures
Have you adequately financially planned the investment?
If borrowing, have you the required borrowing capacity?
Tax planning issues
Consider the Value Added Tax (VAT), Income Tax and Capital Repayment Trap.