Farmers interested in submitting applications in the current (11th) tranche of TAMS II should be aware that the deadline for submission is this Friday 7 September.

The 12th tranche opens the following day and will remain open until early December for applications. Once a tranche closes, all the applications in the tranche are assessed and approvals are issued when these applications pass all the necessary checks.

As of 31 August, there were 15,978 approvals issued to farmers giving them the go-ahead to make various investments, including slurry-spreading equipment, dairy parlours, tillage machinery, slatted sheds, livestock handling equipment and sheep fencing.

Since the scheme launched, the Department has reduced the time available to farmers to make an investment and submit a payment claim. All works must now be completed and payment claims must be submitted within six months of approval in the case of certain equipment and 12 months in the case of structures and fixed equipment from the date of issue of approval or by a date specified in the letter of approval, whichever is earlier.

There have been 6,020 payment claims submitted so far and the Department has issued 5,180 payments for approved works amounting to €73.7m.

Grant rate

For general applicants, the rate is 40% grant aid to the €80,000 investment ceiling, excluding VAT. There are specific investments included in the Young Farmer Capital Investment Scheme (YFCIS). Eligible young farmers will be entitled to 60% grant aid to the €80,000 investment ceiling. For farmers in a registered farm partnership, the investment ceiling doubles to €160,000 and the rate of grant aid is paid depending on each partner’s eligibility.