The young farmer payment can be worth an extra 25% on your Basic Payment Scheme, (BPS), paid on a maximum of 90 hectares for a maximum of five years.
To qualify for the young farmer payment the following criteria need to be satisfied:
1. You are at least 18 years old but no more than 40 years old in 2015 when you make the BPS application.
2. You are in ‘control’ of the farm business that is applying for BPS. ‘In control’ means a person has more than 50% of the shares and votes in the business, takes the majority share of any profits and makes the key business decisions. More than one person can ‘control’ the business if one of the following applies:
- there is a formal agreement between them to vote together, giving them a majority of the business votes and shares;
- they jointly own shares, giving them overall majority control.
3. You set up or took control of the business for the first time on 1 January 2010 or later.
A certification form completed by an accountant or solicitor will need to be submitted to RPA to support the claim.
For further information please refer to the Rural Payments Agency guidance which can be found by clicking here.
For any further advice or assistance please contact Heidi Bradley on 01242 680000 or email heidi.bradley@hazlewoods.co.uk