The Single Farm Payment Scheme (SFPS) was introduced on 1 January 2005. This is part of the package that reformed the Common Agricultural Policy (CAP). The scheme replaced the following production based support schemes:
- Arable Area Payments Scheme
- Beef Special Premium Scheme
- Dried Fodder
- Extensification Payment Scheme
- Seed Production Aid
- Sheep Annual Premium Scheme (including the Less Favoured Area supplement)
- Slaughter Premium Scheme (including the Veal Calf Slaughter Premium Scheme)
- Suckler Cow Premium Scheme
Farmers and crofters who were paid under one or more of these schemes in 2000, 2001 and/or 2002, were automatically eligible to claim under the SFPS 2005.
Exchange rate for SFPS
The exchange rate for the 2014 Single Farm Payment Scheme will be £0.7773 to the euro. The rate, set by the European Central Bank, will apply to all direct aid scheme payments - such as Single Farm Payment and Scottish Beef Scheme.