Single Payment Scheme - Finance
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Payments In Euro
Applicants are able to receive the SPS and other direct aid scheme payments they have applied for in euros, if they wish.
Each year, farmers will be invited to indicate on their SPS application form (SP5) whether they want to be paid in sterling or euros. Having made their choice, it will apply to all payments they receive under direct aid schemes they apply for on their SP5 form. They will then not be able to alter their decision until making an application in a subsequent scheme year. Farmers wishing to receive payments in euros must have a UK euro **** and must advise RPA Customer Service Centre of the details.
Exchange Rates
All payments for direct aid schemes are set in euros. Rules on how to convert these rates into the national currencies of Member States that do not use the euro are detailed in EU Regulations.
The Regulations allow the European Commission to set in advance the date on which the exchange rate will be calculated. It is expected that for the 2006 scheme year the rate for all schemes will be calculated on the last working day of September. We will let you know if this position changes.
See the table below for 2005 exchange rates.
Direct Aid Scheme Conversion Rate ? to £
Aid for Energy Crops 0.694111 (Dec 04 average)
Nuts payment scheme 0.694111 (Dec 04 average)
Protein premium scheme 0.669118 (June 05 average)
Single payment scheme 0.68195 (30 Sep 05)*
* this exchange rate has been confirmed since the Single Payment Scheme
Applicants are able to receive the SPS and other direct aid scheme payments they have applied for in euros, if they wish.
Each year, farmers will be invited to indicate on their SPS application form (SP5) whether they want to be paid in sterling or euros. Having made their choice, it will apply to all payments they receive under direct aid schemes they apply for on their SP5 form. They will then not be able to alter their decision until making an application in a subsequent scheme year. Farmers wishing to receive payments in euros must have a UK euro **** and must advise RPA Customer Service Centre of the details.
Exchange Rates
All payments for direct aid schemes are set in euros. Rules on how to convert these rates into the national currencies of Member States that do not use the euro are detailed in EU Regulations.
The Regulations allow the European Commission to set in advance the date on which the exchange rate will be calculated. It is expected that for the 2006 scheme year the rate for all schemes will be calculated on the last working day of September. We will let you know if this position changes.
See the table below for 2005 exchange rates.
Direct Aid Scheme Conversion Rate ? to £
Aid for Energy Crops 0.694111 (Dec 04 average)
Nuts payment scheme 0.694111 (Dec 04 average)
Protein premium scheme 0.669118 (June 05 average)
Single payment scheme 0.68195 (30 Sep 05)*
* this exchange rate has been confirmed since the Single Payment Scheme
05 Sep 2006 06:39
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