08 May, 2023

Basic Income Support Scheme (BISS) Deadline 29th May 2023

Our Head of Farm Support, Philip O'Connor, talks about the importance of the new Basic Income Support Scheme, ahead of its looming deadline on 29th May.

The new Basic Income Support Scheme has been launched this year to replace the BPS form previous years. Traditional the deadline for the basic payment scheme is 15th /16th May however as BISS is a new scheme for 2023 the Department have extended the deadline to the 29th May. This is one of the most important dates for farmers in the farming year. This is the deadline for declaring the land you are farming in the year 2023 and therefore receive your Basic Income Support Scheme (BISS) monies in Oct/Dec.

As shown in numerous farming reports, BISS is crucial to the financial viability in a lot farms in Ireland. It can be an incredible stressful time for farmers if this application is incorrect and monies are withheld next Oct / Dec. The following are some basic questions farmers should be asking themselves and their Agri advisors before submitting their applications:

  1. Am I farming more / less land than last year?

  2. Am I leasing in /out land that wasn’t previously on application?

  3. If leasing in / out new land have I leased in /out the BISS correctly with this land?

  4. Have you bought / sold / inherited / gifted land in last year – Have I transferred in BISS correctly? 

  5. Have I declared all of the land I am farming correctly on my BISS application

  6. Have I changed farming structure – Limited Company, Registered Farm Partnership, Joint herd number?

    a.     If so I MUST transfer BISS to the new structure – ALWAYS seek your accountants advise on HOW to transfer BPS so as not to inadvertently incur taxes 

    b.     Have I declared all of the land correctly in the name of the new business structure.

The best advice I can give farmers at this time when completing a BISS application is as follows:

  1. Employ a good agri advisor to help you complete your application. This is money very well spent considering the importance of the payment to the financial wellbeing of the farm. 

  2. If transferring BISS to a new entity (LTD, partnership, joint herd, family member etc) please ensure that BOTH your accountant and Agri Advisor are aware of what’s happening. One of the most common mistakes with farmers changing business structure is neither accountant nor agri advisor is aware of what each one applying for. This can have very serious impacts with BOTH revenue and Dept. Of Agriculture and could result in significant taxes and losses in BISS if completed incorrectly

  3. Give yourself time – do not leave this application until the last minute and complete on the 29th May. 

In ifac it is standard practice that we consult with our members' Agri Advisors in times of change in the farm to ensure that BPS is not jeopardised in anyway and also ensure no undue taxes are incurred in the change. 

Note: This year the Department of Agri require all applications to be made on-line. The Department of Agri are running a number of helplines nationwide to assist farmers in this regard. No extension of the