FX Solutions for Single Farm Payments
Protect the Value of Your Single Farm Payment
Our Single Farm Payment solution can help you to get the most out of your valuable EU subsidy.
Single Farm Payments are a subsidy that UK farmers receive from the European Union. The amount your farm receives is based on the amount of land you own. For large farmers this subsidy can amount to hundreds of thousands of GBP.
When you make your application for Single Farm Payments, you have to specify whether you wish to receive the subsidy in Euros or GBP. If you elect to receive the payment in GBP, the exchange rate used to calculate the GBP value of your payment is set by the EU on the last working day of September. So when you receive your payment in December (or perhaps later), the payment you receive will be based on an exchange rate from at least 3 months earlier. This means that you could potentially receive a smaller subsidy, because of currency fluctuations that have taken place in the previous months.
Our dedicated foreign exchange specialists can work with you to develop an incoming payment plan that will enable you to receive your Single Farm Payment in Euros, which we can hold for you for a period of 90 days.
This innovative solution allows you far greater control over the rate of conversion that you receive, and can help you to get the most out of your Single Farm Payment. The solution also allow you to know ahead of time the exact GBP value you will receive from your subsidy, meaning that you can budget more effectively for the year ahead.
Find out more about how we can help you to protect the value of your Single Farm Payment.
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