Taxes Consolidation Act 1997 section 221

Certain payments to National Co-operative Farm Relief Services Ltd and certain payments made to its members

Section 221 provided a corporation tax exemption for certain government grants and related payments made to and through the National Co-operative Farm Relief Services for the support of farm relief services, but this exemption was abolished for payments made on or after 1 January 2011.

• Grants and payments made by the Minister for Agriculture to the National Co-operative Farm Relief Services Limited under two specific agreements (dated 1991 and 1995) were disregarded for corporation tax purposes.
• The exemption also covered moneys transferred onward by the National Co-operative to its member co-operatives, which are societies registered under the Industrial and Provident Societies Acts that provide farm relief services.
• Two agreements were involved: the first (1991) provided financial support for farm relief services, and the second (1995) provided financial support for the development of agricultural services.
• The exemption was abolished by the Finance Act 2011 and does not apply to any grant, payment, transfer or transmission of moneys made on or after 1 January 2011.