Michael McGrath (Cork South Central, Fianna Fail)
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667D of the Taxes Consolidation Act 1997 provides for a tax credit for Succession Farm Partnerships. The measure came into effect in 2017.

To avail of the tax credit, the farm partnership must be entered onto the register of Succession Farm Partnerships, maintained by the Minister for Agriculture, Food and the Marine. Each partner in a registered Succession Farm Partnership is entitled to an annual tax credit for up to five years of the lesser amount of:

€5,000 per year of assessment divided between the partners in accordance with their profit-sharing ratio; and

the assessable profits (after deducting any capital allowances) of that partner’s “several trade”, meaning the assessable profits arising to the partner from the succession farm partnership.

The table below provides a breakdown of the number of taxpayer units claiming this credit, showing the number of years for which taxpayer units had benefited from the credit (up to end 2021).

Number of Years	Number of Claimants (Taxpayer Units*)
1 Year	169
2 Years	136
3 Years	127
4 Years	115
5 Years	82

* A “taxpayer unit” is either an individual with any personal status who is singly assessed or a couple in a marriage or civil partnership who have elected for joint assessment.

The estimated annual cost and number of taxpayer units claiming the Succession Farm Partnership tax credit, broken down by year for 2017 to 2021, the latest year for which complete data are currently available for analysis, is included in the ‘Cost of Tax Expenditures’ publication. For the ease of the Deputy the following table sets out data from the Cost of Tax Expenditures publication.

Year	Numbers	€m
2021	260	1
2020	410	0.9
2019	350	0.8
2018	290	0.6
2017	175	0.4