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TAMS (Targeted Agricultural Modernisation Scheme) 3
The TAMS (Targeted Agricultural Modernisation Scheme) is a subsidy program in Ireland that provides financial assistance to farmers for on-farm improvements and modernization. The program is aimed at promoting sustainable farming practices, improving animal welfare, and enhancing farm safety.
Farmers can apply for TAMS funding to support a range of investments, including the construction of new farm buildings, the purchase of new equipment, and the implementation of environmentally-friendly measures. The program is funded by the Irish government and administered by the Department of Agriculture, Food and the Marine.
The reference costs are used to determine the maximum amount of financial assistance that can be provided to farmers under various subsidy programs, including TAMS. Reference costs are calculated by the Department of Agriculture, Food and the Marine and are based on the average cost of eligible investments over a certain period of time. The department uses a range of sources to gather data on costs, including surveys, industry data, and expert opinion. Once the reference costs have been established, they are published and used as a benchmark for calculating the maximum level of funding that can be provided for each eligible investment. It’s worth noting that the reference costs are reviewed periodically to ensure that they remain up to date with changes in the farming sector, including new technologies and equipment.
TAMS To help farmers determine the amount they are entitled to claim under the program, for new equipment purchases we have compiled a simple excel calculator based on the Department of Agriculture, Food and the Marine published data on eligible investments and their associated reference costs.
Based on this published data, you can simple enter the equipment size or quantity and the spreadsheet will provide you with the maximum entitlement you are eligible to claim for, you can also select if you are entitled to 40 or 60% and this will alter the eligible amount.
By using these calculators, farmers can get a quick estimate of the financial support they can expect to receive, which can help them plan and budget for their on-farm investments more effectively.
It is worth noting that the money paid out is based on the maximum reference cost or invoice value which ever is lower value.
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