Don’t leave BPS application until the last minute
The Basic Payment deadline is May 17. Philip O’Connor, Head of Farm Support at ifac, advises farmers not to leave the application until the last minute.
The 17th of May is one of the most important dates in the farming year - the deadline for declaring the land you are farming in the year 2021 and therefore receive your Basic Payment Scheme (BPS) monies in October/December.
BPS is crucial to the financial viability of a lot of farms in Ireland. It can be an incredibly stressful time for farmers if this application is incorrect and monies are withheld next Oct/Dec.
Some basic questions farmers should ask themselves and their Agri advisors before submitting applications:
Am I farming more/less land than last year?
Am I leasing in/out land that wasn’t previously on an application?
If leasing in/out new land have I leased in/out the BPS correctly with this land?
Have you bought/ sold/ inherited/ gifted land in the last year – have I transferred in BPS correctly?
Have I declared all of the land I am farming correctly on my BPS application?
Have I changed the farming structure – limited company, registered farm partnership, joint herd number?
If so I must transfer BPS to the new structure – always seek accountant’s advice on how to transfer BPS, so as not to inadvertently incur taxes
Have I declared all of the land correctly in the name of the new business structure?
The best advice to farmers at this time when completing a BPS application is to employ a good Agri advisor to help you complete your application.