Advice, Article, Basic Payment Scheme
The Welsh Government announced on Monday that its new system of support payments for Welsh farmers will be postponed until 2022. The Basic Payment Scheme (BPS) was due to be transitioned to a new Land Management Program, but has been consistently delayed as a direct... 
Basic Payment Scheme, VAT
Following an unsuccessful appeal by HMRC, farmers should be able to continue to reclaim VAT against purchases of Basic Payment Scheme (BPS) entitlements. HMRC argued against farmer, Frank Smart, that the VAT incurred on the purchase of his BPS entitlements had a... 
Basic Payment Scheme, News
Basic Payment Scheme payments for 2017 will be just under 5% higher than in 2016 due to the currency exchange rate. Under the rules of the Common Agricultural Policy (CAP), support payments for the UK are set in Euros and then converted to Sterling by using the... 
Basic Payment Scheme, News
The Rural Payments Agency (RPA) has managed to spark outrage with its latest gaffe. More than 600 letters have been sent out to farmers who they think were overpaid under the Basic Payment Scheme in 2015 or 2016. The fact that really grates is that some claimants have... 
Basic Payment Scheme, News
Fears have been expressed by some land agents that agricultural land prices may fall in the UK, as a direct result of Brexit. It is expected that the amount of subsidies, such as the Basic Payment Scheme, will decline once Britain leaves the EU, causing some farmers... 
Basic Payment Scheme, HMRC, Tax
Farmers claiming the BPS are being reminded by HM Revenue & Customs that these support payments must be included on their tax returns to avoid possible fines. Several farmers have been written to by HMRC reminding them that subsidies are taxable and need to be...