The Targeted Agricultural Modernisation Scheme (TAMS II) Tranche 25 closed to applications on April 8th, 2022. Tranche 26 opened on April 9th, 2022 and will close on 1st July 2022. Additional tranches may be announced at a later date.
Updates to TAMS II Reference costings:
In April, the Minister for Agriculture, Food and the Marine, Charlie McConalogue T.D. announced an increase to the TAMS Reference Costs. Increases ranged from 5-15% across investment items listed under TAMS; this is in addition to the increases of 5-20% introduced to costings in July 2021. This is the third increase to be implemented in costs in the last 3 years.
Updates to investment ceilings:
The Minister also announced an increase to the investment ceiling within Tranche 26 for the Pig and Poultry Investment Scheme (PPIS). PPIS applicants can now apply for items listed under TAMS to a ceiling of €200,000, the ceiling was €80,000 in previous tranches.
When discussing applications with their clients, TAMS II agents and advisors need to ensure they have the most up-to-date version of TAMS II Terms & Conditions and Reference Costings.
It is open to individual applicants to withdraw an application under the scheme and submit a revised application, should they decide that they wish to avail of the increased reference costs from Tranche 26 onwards.
Scheme Payments Update (up to 1st April 2022):
- There have been 48,995 approvals issued to farmers since the scheme’s inception. Of these, 28,257 payment applications have been submitted.
- The total payment amount made to the scheme participants to date: €337.704M plus €11.513m Transitional Spend = €349.468m
More information on Scheme Payments here.
