Video recorded with 2019 Newbie competition winner and a video is released on “Long term land leasing”
Just ahead of the introduction of Covid-19 restrictions a video was recorded with Steven Ryan, winner of the 2019 Irish NEWBIE competition. In the video Steven gives a comprehensive overview of his experience as a new entrant into snail farming. Having worked as a barber in Galway city Steven along with his family decided to move home to the family sheep and beef farm. After much research Steven decided to enter snail farming as an additional enterprise to compliment the beef and sheep enterprises. In the video filmed on-site Steven outlines the hurdles overcome and the milestones along the way. Read all about Stevens farm and winning entry at https://www.teagasc.ie/news–events/news/2020/steven-ryan-snail-farmer-.php
With covid-19 restrictions introduced to suppress the spread of the virus filming on-site became difficult for a period. NEWBIE consortium member and Teagasc collaborative farming specialist Gordon Peppard overcame this obstacle by recording a video on the topic of long term land leasing in his own back garden. Video clips and images held on file by Gordon and within Teagasc were then used as cutaways to build and enhance the video.
The video details the advantages and incentives relating to long term land leasing arrangements which run for a minimum of five years. Long term land leasing is incentivised through income tax and maintaining capital gains tax reliefs that benefit the lessor. Security of tenure, affordable access to land, time to recoup investment and access to farm infrastructure are among the benefits for the lessee.
The land lease is an individual agreement that needs to be stamped by revenue to avail of tax reliefs; both parties should seek expert legal and financial advice before signing any lease. The video and accompanying article can be viewed at; https://www.teagasc.ie/publications/2020/long-term-land-leasing.php