Draft legislation accessible version
Published 20 July 2022
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1 Tax treatment of payments to farmers under the lump sum exit scheme etc
(1) An amount paid to a person (바카라 사이트淧바카라 사이트�) under the lump sum exit scheme is바카라 사이트�
(a) in a case where P satisfied the eligibility conditions when the payment was made, to be treated as amount of capital nature that is treated as a chargeable gain accruing to P on the disposal of an asset for the purposes of TCGA 1992;
(b) in a case where P did not satisfy the eligibility conditions when the payment was made, to be treated as an amount of a revenue nature.
(2) Where바카라 사이트�
(a) a person (바카라 사이트淧바카라 사이트�) makes an application for a lump sum under the lump sum exit scheme,
(b) P satisfies the eligibility conditions at any time during the interim period, and
(c) during the interim period, an amount is paid to P under the basic payment scheme,
the amount is to be treated as amount of capital nature that is treated as a chargeable gain accruing to P on the disposal of an asset for the purposes of TCGA 1992.
(3) Where바카라 사이트�
(a) a person (바카라 사이트淧바카라 사이트�) makes an application for a lump sum under the lump sum exit scheme,
(b) P does not satisfy the eligibility conditions at any time during the interim period, and
(c) during the interim period, an amount is paid to P under the basic payment scheme,
the amount is to be treated as an amount of a revenue nature.
(4) For the purposes of this section바카라 사이트�
the 바카라 사이트渓ump sum exit scheme바카라 사이트� means the Agriculture (Lump Sum Payment) (England) Regulations 2022 (S.I. 2022/390);
the 바카라 사이트渂asic payment scheme바카라 사이트� means Regulation (EU) No 1307/2013 of the European Parliament and of the Council of 17 December 2013 establishing rules for direct payments to farmers under support schemes within the framework of the common agricultural policy and repealing Council Regulation (EC) No 637/2008 and Council Regulation (EC) No 73/2009;
바카라 사이트渆ligibility conditions바카라 사이트� means the conditions in regulation 5 of the lump sum exit scheme; the 바카라 사이트渋nterim period바카라 사이트�, in relation to P, means the period바카라 사이트�
(a) beginning with the day on which P makes an application for a lump sum under the lump sum exit scheme, and
(b) ending with the scheme end date;
the 바카라 사이트渟cheme end date바카라 사이트� has the same meaning as in the lump sum exit scheme (see regulation 2(1) of that scheme).