May 2 is the deadline for trading of Single Farm Payment entitlements, which staff from Cavanagh Kelly Chartered Accountants have been reminding farmers at a well attended meeting in Corick House, Clogher, recently.

They said that the existing Single Farm Payments (SFP) entitlements scheme will be abolished on December 31 2014 with new Basic Payment Scheme (BPS) coming in on January 1 next year. The deadline for selling or transferring entitlements is, however, much closer with decisions having to be taken now and transfers complete by 2 May 2014.

Speaking at the SFP information event, Des Kelly of Cavanagh Kelly Chartered Accountants, highlighted the financial impacts of the changes ahead and the options available to landowners.

“Conacre has been a widely used trading scheme in Northern Ireland for many years,” said Mr Kelly. “With up to one-third of Northern Ireland farmlands set out in conacre, and landowners having to be active farmers to claim BPS from next year, there are major considerations for all farmers, active and not,” he said.

Farmers speaking at the event highlighted their concerns at the changes that are around the corner as well as expressing their discontent at the lack of uncertainty on the final position, given that the DARD proposals have not yet been formally adopted. “From our discussions with DARD,” Mr. Kelly continued: “The August 1 deadline for reaching agreement is not up for debate. The EU default position of €329 per hectare will be introduced across the board if agreement is not reached - it is, therefore, in everyone’s interest to have agreement reached before then.”