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Single Payment Scheme Entitlements Transfer Deadline

Single Payment Scheme Entitlements Transfer Deadline

Farmers have less than a week  to transfer entitlements ahead of the new deadline set by the Rural Payments Agency (RPA) later this month.

Farmers have less than a week  to transfer entitlements ahead of the new deadline set by the Rural Payments Agency (RPA) later this month.

The RPA has brought forward the deadline for transferring single farm payment (SPS) entitlements in advance of changes to SPS in 2015 - the new cut-off date for transferring SPS entitlements is now midnight on Tuesday 21 October 2014. If you own SPS entitlements, you can transfer them to someone else by filling in a RLE1 form.

The RPA must receive your form at least 6 weeks before the transfer is due to take place. The deadline is midnight on 21 October 2014 and the ‘effective date of transfer’ must be on or before 3 December 2014.

From 22 October to 1 January 2015, the RPA will be converting current SPS entitlements into Basic Payment Scheme (BPS) entitlements, so it will not be possible to transfer SPS entitlements during this period.

From early 2015 farmers will be able to transfer these new BPS entitlements. Go to www.gov.uk/cap-reform to find out more.

If you are buying or selling entitlements this year (with or without land) then check out the RPA’s guidance on their website https://www.gov.uk/transfer-sps-entitlements or for further information, contact Burnetts’ Head of Agriculture Richard Miller 01228 552222 or rm@burnetts.co.uk.
 

About the author

Joanne McKenzie profile photo

Joanne McKenzie

Joanne is a Senior Associate in the firm's Agribusiness team.

Published: Tuesday 14th October 2014
Categorised: Agribusiness

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