Prepare For Delays In Receiving Basic Payment Scheme
Due to the complexity of the new Basic Payment Scheme there is a risk that payments may be delayed which will have a major cash flow impact for farm businesses. The payment window is 1 December 2015 to 30 June 2016.
It is very important to prepare for this as part of your cash flow planning for this year. In particular you may need to arrange extra funding facilities.
NatWest and RBS have just announced that they are making interest only loans available to farming customers across the UK to bridge this gap.
Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.
Photo credit: lendingmemo.com
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