The 2024 Sustainable Farming Incentive (SFI) is about to open, offering a greatly expanded selection of options tailored for both new and existing scheme-holders.
Key Highlights:
> New entrants welcome: For the first time, farmers and landowners who haven’t previously claimed subsidies can now join the scheme.
> Compatibility for existing agreement holders: Those with current environmental agreements (Countryside Stewardship and 2023 SFI claimants) can also participate, provided their new choices align with existing commitments. Furthermore DEFRA announced yesterday that existing scheme-holders will no longer have the opportunity to add land and options to their current scheme, and will have to enter a new scheme to do so.
> Income opportunities: The scheme allows for ‘stacking’ options on the same area of land, providing an opportunity to generate significant income whilst maintaining a focus on agricultural production.
Income examples:
Spring-sown cereal crop:
- CSAM2 Multi-species winter cover crop @ £129/ha
- AHW10 Low input harvested cereal crop @ £354/ha
- SOH1 No-till farming @ £73/ha
- PRF1 Variable rate application of nutrients @ £27/ha
Total £583/ha (£236/ac)
Low-input permanent pasture:
- CLIG3 Manage grassland with very low inputs @ £151/ha
- GRH7 Haymaking Supplement @ £157/ha
Total £308/ha (£125/ac)
Additionally, higher-paid options for habitat creation or retention can be applied on up to 25% of your farmland, ideal for less productive areas.
While the flexibility of the SFI offers significant financial benefits and wider eligibility, it also introduces more complexity. Despite DEFRA’s promise of a simplified scheme, careful planning and understanding are essential to make the most of these opportunities.
At Newton LDP, we are here to help you navigate these changes and maximise your benefits from the SFI. Contact Charlotte Gore to learn more: Get in touch