More than 90,000 English farmers received their single farm payment by the end of December 2010, according to the Rural Payments Agency.
The latest figures published this week showed 85.5% of eligible claimants had been paid, ahead of the agency's target.
RPA interim chief executive Richard Judge said: "Achieving our 85% target is an important milestone. We remain firmly focused on progressing the outstanding claims, accurately and as quickly as possible."
In Wales, 86% of farmers received payments on 1 December, the first day of the payment window. A Welsh Assembly Government official said 90% of farmers had now been paid a total of £228m.
The payment window for the 2010 single payment scheme closes on 30 June 2011.