The Government has announced new farming grants that offer funding for specific equipment and technology. Our farms and landed estates tax specialists explain how the Farming Equipment and Technology Fund 2023 will work.
Following the success of the first Farming Equipment and Technology Fund in 2021 and 2022, the Government has announced a second round of funding for farmers in the UK.
If you are a farmer, forester, grower or related contractor, the Farming Equipment and Technology Fund 2023 gives you the opportunity to apply for a grant that will cover the costs of certain equipment and technology.
What is the Farming Equipment and Technology Fund 2023?
Like its predecessor, the Farming Equipment and Technology Fund 2023 provides grants within the farming industry. Grants from £1,000 to £25,000 are available to claim on eligible equipment and technology.
Through the new farming grant, the Government aims to boost productivity and incentivise more environmentally sustainable approaches to farming. It also hopes to improve animal health and welfare.
The scheme consists of two themes:
- Productivity and Slurry – open for applications now (until midday on 4th April 2023)
- Animal Health and Welfare – expected to start accepting applications from March 2023
What items qualify for the Farming Equipment and Technology Fund?
A wide range of items qualify for the Farming Equipment and Technology Fund, including 87 additional items that were not included in the first round of funding.
Productivity and Slurry
Eligible items within the ‘Productivity and Slurry’ theme fall into the following categories: horticulture, forestry, slurry management, arable, livestock and resource management.
View a full list of eligible items on the Government website.
Animal Health and Welfare
The assets that quality for the ‘Animal Health and Welfare’ theme are categorised into cattle, sheep, pigs, poultry and general livestock.
View a full list of qualifying assets on the Government website.
It is important to note that not all eligible items are equal. Each item has a separate score, according to how well it meets the overall objectives of the fund. If the scheme becomes oversubscribed, grants will be given to applications with the highest scoring items first.
How do I apply?
You can apply for the Farming Equipment and Technology Fund via the Government website. To claim for items within the ‘Productivity and Slurry’ theme, visit the online application portal and complete the series of questions.
If your application is successful, you will need to purchase the equipment and then claim reimbursement using the receipt.
Applications for the Animal Health and Welfare grants do not open until March.
Speak to an expert
Our private client tax team are specialists in farms and landed estates, understanding the unique opportunities and challenges that businesses within the sector face. Contact us today for more support and guidance on the Farming Equipment and Technology Fund and other farming grants available.