1. Blood relative relief:

This relief has been enhanced so that any transfer of farm assets between blood relatives is subject to 1% stamp duty instead of the new 6%.

Age restrictions on this relief have been removed. Other conditions still remain and should be reviewed before any transfer takes place.

2. Farm consolidation relief:

A 1% rate of stamp duty applies for a period of 24 months from 1 January 2018 to 31 December 2020 for instruments executed after 1 January 2018.

To qualify, the person purchasing must retain ownership and use the land for a period of five years from the date in which the relief is claimed.

3. Young trained farmer relief:

This only applies for young, trained farmers under 35 at date of the transfer.

The young trained farmer must have the relevant agricultural qualifications or must acquire the qualifications within four years of the date of execution of the transfer instrument.

The young trained farmer must spend 50% of their time farming the land to qualify.