BPS 2020 payments - the top 5 things to know now
On this page, the NFU's BPS advisers set out the key things you need to be aware of now about revised BPS payment arrangements for the 2020 scheme year.
1. How is BPS 2020 funding going to work this year?
The government, via the Treasury, confirmed the level of funding available for BPS 2020 back on 30 December 2019 by stating that the funding pot would be the same as for BPS 2019. You can read more about this at the Gov.uk website here.
It is important to note that the UK Treasury will be funding BPS payments in their entirety for the first time in 2020 as the UK has opted out of paying into and taking money from the forthcoming new EU budgetary cycle following its decision to formally leave the EU.
2. Does the euro to sterling exchange rate in September 2020 still matter?
The government confirmed in March that it