The transfer deadline for Basic Payments Scheme entitlements has been extended by a month to 15 June.
With many entitlements on the market and the BPS claims system still in disarray, this will allow buyers and sellers more time to check and arrange entitlements.
Transfers must be done using an RLE1 form, which the RPA must receive by midnight on 15 June 2015. The person receiving the entitlements must complete the “active farmer” declaration (Part F) on the BP5 application form.
As the original 15 May deadline approached, some sellers had begun to consider offers slightly below the £100/ha mark to secure a sale of English non-SDA entitlements, said Townsend Chartered Surveyors of Exeter, Devon.
“SDA entitlements continue to trade at about £135/unit and Moorland at £60/unit,” said the firm’s Ashley Taylor.
“Both these markets have seen high demand in previous weeks, which has now balanced out, with a similar number of vendors and purchasers in both the SDA and Moorland markets.”