Commentary

B5.122 BPS—taxation issues

Business tax
Business tax | Commentary

B5.122 BPS—taxation issues

Business tax | Commentary

B5.122 BPS—taxation issues

From January 2021 the Agriculture Act 2020 determines policy in respect of funding for farmers and the BPS will be phased out1. The Government roadmap sets out the changes that will come into force over a period of seven years to help farmers adapt and plan for the future. There will be a transition away from the basic payment scheme (BPS) in 2021. Direct payments will be reduced fairly, with the money released being used to fund new grants and schemes.

The basic payment scheme entitlement (BPSE) has several special features that are relevant to taxation. In

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