delinked payments statement

[Badshot]

Have received it yesterday, followed the link to the reduction calculator and it doesn't appear to have been updated for the 2024 year, it only shows reductions for 21,22,23 years.
Have I missed something?

 

[Pan mixer]

I thought the same although I have only the delinked statement for a farm down the road that I did the SFP for an old chap who has subsequently died and the executors claimed the 'ending farming lump sum' payment a year ago so I don't suppose that they have got joined up thinking, again.

Must have just been sent to everyone on the 2021 claim list

 

[ISCO]

My understanding was that we would receive an email with the delinked statement showing what we will receive for the next 3 years.
The calculator is not relevant after this year.ļ

 

[leveled]

Several pages of maybe"gobledegook" maybe we should be told what we are getting This is suposed to be simplified We are barely computer literate elderly and have a poor connection

 

[Hfd Cattle]

Will just wait to see what I get ..... I will know then !

 

[Jo28]

Presumably we don't need to fill in the forms then?

 

[farmerm]

Will just wait to see what I get ..... I will know then !

As a guide the next 3 years payments will in total be about the same as your single payment in 2020... it may arrive as 6 equal amounts (2 payments per year) or it might be front loaded with more than 33% next year and less than 33% in the last year.. they haven't decided...

Then factor in inflation has eroded the value like a stick of chalk in a bath of hydrochloric acid and what is left might be enough to fund a tank of diesel.

 

[serf]

Presumably we don't need to fill in the forms then?

Don't think so

 

[ISCO]

Received my statement today with reference figure which enabled me to use the calculator to work.out 2024 payment only. Reductions buying 24 not confirmed yet.

 

[farmerm]

Presumably we don't need to fill in the forms then?

Replaced with SFI forms.....

 

[4course]

As a guide the next 3 years payments will in total be about the same as your single payment in 2020... it may arrive as 6 equal amounts (2 payments per year) or it might be front loaded with more than 33% next year and less than 33% in the last year.. they haven't decided...

Then factor in inflation has eroded the value like a stick of chalk in a bath of hydrochloric acid and what is left might be enough to fund a tank of diesel.

so, about £28 ish /acre for each of 3 years based on your historic claim front loaded with more in the first year and very little in the third . Am i way out ?? in what others think it is how its going to workout.?

 

[ISCO]

so, about £28 ish /acre for each of 3 years based on your historic claim front loaded with more in the first year and very little in the third . Am i way out ?? in what others think it is how its going to workout.?

50% in 24 if under 30k.

 

[Pan mixer]

so, about £28 ish /acre for each of 3 years based on your historic claim front loaded with more in the first year and very little in the third . Am i way out ?? in what others think it is how its going to workout.?

That is what I thought, HMG will have to prepare themselves for me not recirculating any of that into the Income Tax department.

 

[4course]

That is what I thought, HMG will have to prepare themselves for me not recirculating any of that into the Income Tax department.

what is this income tax department you speak of ?

 

[Pan mixer]

what is this income tax department you speak of ?

It is a sort of saving club that pig farmers pay into once every 5 years and then get back in the next 2 years without interest.

Not very fair really, I would be better off buying premium bonds every 5 years and then cashing them in.

 

[4course]

It is a sort of saving club that pig farmers pay into once every 5 years and then get back in the next 2 years without interest.

Not very fair really, I would be better off buying premium bonds every 5 years and then cashing them in.

we jest, but is it such a bad idea the way things are, weather ,politics ,defra ,rt ,noroso ,hgca , cop, et al oh and not forgetting the new van ,( no not the one to drive ) ho ho

 

[Steevo]

Received my statement today with reference figure which enabled me to use the calculator to work.out 2024 payment only. Reductions buying 24 not confirmed yet.

Every year the reductions have increased by 15% i.e 30%, 45%, 60%, 75% etc.

It’s highly likely that will continue.

 

[Steevo]

Tried working payments out the other day. It’s mad how complicated it is.

Year 1: Full BPS payment

Year 2: Full payment multiplied by different reductions depending on which amounts fall into categories (like income tax thresholds)

Years 5-7: Take the un-discounted amounts used to calculate the previous three years. Add together and divide by three. Then multiply by reductions as per Years 2/3/4.

Some of the above years are also then divided by two before being paid into the bank account.

I’m pretty sure every farm business will receive a maximum £1500 split into two payments of £750 in the final payment year.

“What payments will the 1000ha farmer receive between 2020 and 2027 and when will he receive them?” could make for an hour long GCSE maths question.