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9th February 2022
Yesterday the Government published further information regarding the Lump Sum Exit Scheme and delinked payments in England.
The Lump Sum Exit Scheme, is still planned to be released in 2022, allowing Farmers to access this funding if they wish to still exit the industry through this opportunity. The idea behind this as such is to increase the availability of land for either New Entrants or for existing Farmers wishing to expand. As it stands currently there is no deadline on when the Farmers need to submit their forecast statement for, but we are advising that if farmers are contemplating the idea of using the Lump Sum Exit scheme for either wishing to retire or leave farming to take up a different occupation, to contact us as soon as possible to submit a forecasting statement to take matters further, allowing the lump sum pay-outs to start from April 2022.
For applicants applying, you must have either:
Calculation of the Lump Sum Payment will consider the BPS payments made to the farmer over the last few years the BPS scheme has run, in relation to their English entitlements (before any penalties or progressive reductions were applied in this period).
On the total money available there will be a cap of £42,500, which then will be multiped by 2.35 to give the value of the lump sum. Overall meaning no farmer will be eligible or will not receive more than £100,000.
For more information please call:
Oswestry Office: 01691 655334
Welshpool: 01938 554499
Shrewsbury Rural: 01743 791336
Llanidloes: 01686 449222