When you submit your application for funding you are asked to specify when you intend to claim the funding (i.e. the claim year). It is very important to get this right as activities for Options with capital costs must be claimed in the year in which it is scheduled in your contract and Schedule of Works.
You can only make a capital claim for costs incurred, and claim must be in the year that you have said you will claim in your contract.
The claim year for capital items for 2011 will run from 1 January 2011 to 29 February 2012, For example, claims for capital items which are scheduled, according to the approved contract, for 2011, must be submitted between 1 January 2011 and 29 February 2012 along with all the supporting documentation.
Claims will not be processed for payment until the full supporting documentation is received.
Claims for grants relating to interest rate relief for Setting Up Young Farmers must be supported by a statement from the lending institution setting out the capital and interest payments. This statement may be calculated to end November 2011 to allow you to meet the claim deadline of 29 February 2012 .
Payments for capital items will be made on a continuous basis throughout the year, as soon as possible after receipt of a valid claim and in any case within 3 months of receipt of a valid claim. A valid claim is a claim that has been completed correctly in full and all the supporting documentation is submitted.
You will need to schedule works on Options to ensure that it is financially viable to submit the required claim documentation within the correct claim year. Claimants should also schedule their claims in such a way that they will be able to supply all the relevant supporting documents within the timeframe, including any provided by a third party. If you find you are going to be unable to submit your claim before 29 February 2012 you must write and request a Variation in order to make Changes to Claim Years. Variations will only be approved in exceptional circumstances.
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