JULIE BUTLER provides a practical guide to the tax implications of the new single payment scheme.
THE INTRODUCTION OF the Single Farm Payment is considered by many to be the most fundamental change to farming since the repeal of the 'corn laws'. It essentially means that farming subsidies are no longer 'coupled' to production, but are based on area and historical entitlement. The burning question has been: how will this impact upon the taxation of farmers and landowners?
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