The second round of farm productivity grants has been announced following the first round of the scheme in 2018.
In total, £15 million has been allocated for grants of between £3,000 and £12,000, with the deadline for applications being 3 September 2019 at 12 PM. The grants are awarded for specifically listed items of equipment at 40% of the standard cost, irrespective of what is actually paid for the item.
The aim of the grants is to encourage farms to invest in advanced technology that will meet targets to improve the quality of water, air, soil as well as improving animal welfare.
There are more than 80 items of equipment eligible for a grant. The equipment has been extended since the 2018 grant scheme, with 26 new items, including:
- Livestock monitoring cameras
- Auto-steer conversion systems for older tractors
- Robotic silage pushers
- Calving gates
- Sophisticated vaccination guns
The scheme only applies to new equipment, with the application being made via an online form.
If a grant is awarded, the applicant has 150 days to find and purchase the items and must provide photographs and invoices to claim the grant.
Martin Johnson, Manager at Milsted Langdon, said: “The announcement of the farm productivity grants is positive – with £15 million being set aside to help the farming industry invest in innovative and specific equipment to aid their production, farmers can harvest the benefits of technological advances with an attractive 40% cost saving.
“However, the deadline for applications is fast approaching. Over the busy harvest period, it could be a missed opportunity where potential applicants are stuck in the tractor cab, hence we are keen to publicise this valuable scheme to ensure farmers get some financial assistance in purchasing new equipment.
“For advice on accounting and tax matters relating to the agricultural industry, contact us today.”