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Farm Business
Tenant Farming, Subsidies, BPS & Legal Issues
Bps and Buying Property
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<blockquote data-quote="farmerm" data-source="post: 6556069" data-attributes="member: 7195"><p>Some clever dick land agent figured out they could turn entitlements into a commodity that they can trade and take a cut from! Say you are looking to purchase 20Ac, the seller owns 20ac of land and they own 20ac of BPS entitlements which they have been activating against the 20acre. Nothing links 20ac of entitlements to a specific 20ac parcel of land. </p><p></p><p>Someone may know better than me but as a guide I think trading of 2019 entitlements for non SDA land was in the region of £125/ha +Vat It is pretty small beer compared to the land price, knock £130/ha off what you are willing to pay for the land and then offer £130/ha for the entitlements. Where the purchase is of significant size I wouldn't be surprised if there might be some tax effect to be had for one or both parties depending on the agreed entitlement value to land value ratio.</p><p></p><p>However... if you are a new entrant or between 18 and 40 I think you may be able to apply for new entitlements from the national reserve..</p><p></p><p><a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/814208/BPS_2019_scheme_rules_v2.0.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/814208/BPS_2019_scheme_rules_v2.0.pdf</a> see page87</p></blockquote><p></p>
[QUOTE="farmerm, post: 6556069, member: 7195"] Some clever dick land agent figured out they could turn entitlements into a commodity that they can trade and take a cut from! Say you are looking to purchase 20Ac, the seller owns 20ac of land and they own 20ac of BPS entitlements which they have been activating against the 20acre. Nothing links 20ac of entitlements to a specific 20ac parcel of land. Someone may know better than me but as a guide I think trading of 2019 entitlements for non SDA land was in the region of £125/ha +Vat It is pretty small beer compared to the land price, knock £130/ha off what you are willing to pay for the land and then offer £130/ha for the entitlements. Where the purchase is of significant size I wouldn't be surprised if there might be some tax effect to be had for one or both parties depending on the agreed entitlement value to land value ratio. However... if you are a new entrant or between 18 and 40 I think you may be able to apply for new entitlements from the national reserve.. [URL]https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/814208/BPS_2019_scheme_rules_v2.0.pdf[/URL] see page87 [/QUOTE]
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