CLA responds to consultation on changes to BPS

Responding to Government’s consultation on exit payments to farmers, Country Land and Business Association President Mark Bridgeman said:

“We welcome the launch of this long-awaited consultation on the lump sum exit scheme and the administration of direct payments as the scheme is phased out.

“The consultation does give much-needed information on the exit scheme. But for those considering the scheme, there are still many questions to be answered that will only be available after the consultation. The scheme will not be for everyone, but if the scheme is to contribute to industry restructuring and create opportunities for new entrants and those wishing to expand, there are some critical issues to be addressed – including clarity on tax treatment of lump sums payments, and the eligibility and exit conditions. The biggest challenge is the timing, and there can be no further delays in launching the scheme later this year.”