[HMRC Tax Bulletin 14, December 1994]

The general principles for dealing with timing issues relating to grants and subsidies were set out in the article on Arable Area Payments page 108 of Issue 10 of Tax Bulletin [TB02/94-2].

That article did not comment on animal grants as, at that stage, we were awaiting accounting evidence.

We have now received representations from accountancy bodies about the correct time to recognise the following animal grants/subsidies;

Suckler Cow Premium Scheme

Beef Special Premium Scheme

Sheep Annual Premium Scheme

Hill Livestock Compensatory Allowances

Extensification Payments

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