Revenue eBrief No. 133/24
14 May 2024
Relief for certain income from leasing of farm land
Tax and Duty Manual Part 23-01-23 - Relief for certain income from leasing of farm land - has been updated to reflect amendments to section 664 Taxes Consolidation Act 1997 by Finance (No.2) Act 2023. This includes a new section 5 to explain the amendment to the definition of a 'qualifying lessor' to impose a 7 year holding requirement on farm land purchased under a contract entered into on or after 1 January 2024, and the anti-avoidance rules that may apply to prevent avoidance of the 7-year holding requirement.