188体育

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 2010听

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 recipient鈥檚 circumstances), either:

听 听 听 听 听i)听 听as trading receipts of an ongoing business or

听 听 听 听 听ii)听 post cessation receipt
听 听 听 听 听 听 听receipts arising from the carrying on of a trade which are received after a person听permanently
听 听 听 听 听 听 听ceases to carry on a trade听and arises from the carrying on of the trade before the cessation.

听 听 听 听 听iii) or miscellaneous income
听

In summary, the de-linked payments (same as BP scheme) may be taxable under:听

听 听 听 听 听 i)听 听section 9 ITTOIA 2005 (farming),

听 听 听 听 听 ii)听 section 10 ITTOIA 2005 (non-farming trade), or

听 听 听 听 听 iii) Chapter 8 of Part 5 of ITTOIA 2005 as miscellaneous income.

听