BIM55140 - Farming: De-linked Payments: Tax Treatment/Basic Charge
S5, S9, S25 and S687 Income Tax (Trading and Other Income) Act 2005, S996 Income Tax Act 2007,
S35, S36, S46 and S979 Corporation Tax Act 2009, S1125 Corporation Tax Act 2010Â
The delinked Direct Payments are in place of the BPS
payments and linked to the fact the recipient is/was a farmer
and would
therefore be subject to the income tax rules, (depending on each recipient바카라 사이트™s
circumstances), either:
     i)  as trading receipts of an ongoing business or
     ii) post cessation receipt
       receipts arising from the carrying on of a
trade which are received after a person permanently
       ceases
to carry on a trade and arises from the carrying on of the trade before the
cessation.
     iii) or miscellaneous income
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In summary, the de-linked payments (same as BP scheme) may be taxable under:Â
     i)  section 9 ITTOIA 2005 (farming),
     ii) section 10 ITTOIA 2005 (non-farming trade), or
     iii) Chapter 8 of Part 5 of ITTOIA 2005 as miscellaneous income.
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