New EU legislation was implemented in December 2013 to introduce a new agricultural subsidy, the Basic Payment Scheme
Budget 2014 extends the categories of assets eligible for capital gains tax. Business asset roll-over relief have been extended to include acquisitions and disposals of entitlements under the basic payment scheme.
The legislation is retrospective and will apply to acquisitions and disposals of Basic Payment Scheme entitlements on or after 20 December 2013, which was when the scheme was introduced.
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