specialist's IN THE TRANSFER trading OF AGRI ENTITLEMENTS NATIONWIDE
HMG Business was set up in 1999 as HMG Agri Quota by Helen McGee and since then has established itself as the leading entitlement trading business in the country.
The business is now run by her son John McGee McGee Auctioneers and has expanded substantially over the years due to the efficiency and integrity which we pride ourselves in.
We at HMG originally traded in Quota which was a direct subsidy on the animal. This payment changed in 2005 to Single Farm Payment Entitlements and was in place until 2014.
Where the previous scheme was drawn down on the Animal the Single Farm Payment required a hectare of land for every entitlement drawn down.
Payment Scheme Entitlements (BPS) replaced the Single Farm Payment Entitlements in 2015 and ran until 2022.
The big change in transferring for the Basic Payment Entitlements was that entitlements could be leased with or without land.
This was the most popular way of trading for the Basic payment Entitlements as any farmer who sold their Entitlements not attached to a land sale was subject to a 20% claw back to the National reserve.
The new scheme BISS (Basic Income Support for Sustainability) started in 2023. Transfers of payment Entitlements continued to operate as they did in the previous scheme. The most significant change in 2023 was that there was no claw back on the sale of Entitlements. This will continue for 2024.
SALES was the most popular way of trading in 2023 and it looks like it will be the same for 2024 with farmers taking advantage of the last year before clawback will be reintroduced
If you are interested in trading your Entitlements by way of sale or lease please do not hesitate to contact us.
There are many reasons why a farmer would want to Buy/Sell Lease in/Lease out Entitlements and we at HMG would recommend that all farmers consult with their Agri advisers in order to maximize their payments.
It is very important that all farmers are aware of changes in the new scheme and meet all current criteria set down by the Department of Agriculture in this in order to draw down their payments.
An example of this is any Entitlements that are not activated in a two year period will be lost to the national reserve.
Where before in previous schemes entitlements could be rolled over from year to year this is now not possible under new guidelines laid out by the Department.
These entitlements must now be leased out to active farmers or sold in order not to forfeit them to the National reserve.
We at HMG specialize in the trade of Entitlements and currently have many orders from farmers looking to buy or lease in BPS entitlements for 2024.
Please see our other tabs for further information on all of the above.
Please click on the Contact tab in order for us to discuss your requirements for entitlements in 2024
Disclaimer
HMG Entitlements accept no liability for any information provided on our website that may have errors or omissions. We do not accept any liability that may cause loss to anybody who uses information that we have provided. This information should not be used in any way as legal advice.
