News - Townsend Chartered Surveyors

For over 38 years, Hugh Townsend has been the country's "go-to" commentator on farm quotas and intangible assets sold off-farm. Having become the country's leading and most innovative quota agent he was broadcast to 3.8 million listeners on Radio 4's PM programme, interviewed by Eddie Mayer on the 1st April 2015 – the “Dawning of Europe without Milk Quotas”, click here.In 2016, BBC1 interviewed Hugh Townsend on the future of farming following the Referendum, click here. In 2021 he published the first book of its type “the UK Environmental Credits User Guide” , and more recently in 2024 ITV filmed at one of our BNG Habitat Banks which was broadcast on Monday 3rd June (click here) To view the uncut footage of the interview click here

Hugh Townsend developed the most creative arrangements to promote an efficient market in farm quotas, in the early eighties, including leasing milk quota without land, before the Milk Marketing Board introduced leasing for a part of the milk year. He has represented clients in leading court and arbitration cases successfully defending transfers of milk quota, and developed the new system of second TQ1 forms protecting the transfer of quotas with land.

In 1991, Farmers Weekly published the first sale price index from Hugh Townsend, countrywide, and started to publish farm quota sales and leasing graphs, which can be seen on our Milk Quota & Entitlements pages. Prices for intangible assets are still published weekly from this UK leading Brokerage House.

On BBC television, he has defended dairy farmers who have been taken advantage of by unscrupulous individuals in the farm quota market, and was again on television to comment on the "footballers buy milk quota" rumpus.

In 1990, the firm held the first auction of sheep and beef quota making the market in these new intangible assets and is still the leading BPS entitlement broker in the UK regions following England abolishing their scheme in 2023.

The firm also now sells Biodiversity Net Gain and Nutrient Neutrality units, Woodland and Peatland Carbon, in addition to Water Abstraction Licenses, and holds National Sales by tender every six weeks.

3.8.23 – BNG – Latest DEFRA Publications – Statutory Credits and Responsible Bodies

As we get closer to the 11th November 2023, Biodiversity Net Gain is set to become mandatory with a range of developments required to demonstrate a 10% uplift in habitat biodiversity before their planning permission is approved. It is encouraging to see DEFRA showing signs of gearing up for this deadline with two publications issued…

2.8.23 – Western Morning News – Nutrient Neutrality

Nutrient pollution causes many environmental issues, especially in freshwater habitats and estuaries which suffer from ‘eutrophication’ when excess levels of nitrogen and phosphorus are present. This process speeds up the growth of certain flora such as algae, adversely impacting other plant and wildlife. Common sources of excess nutrients include sewage treatment works, septic tanks, grey…

21.6.23 Western Morning News – English BPS Delinkage Trading

English entitlement trading goes out with a bang and whilst we knew Scotland, Wales and Northern Ireland were continuing trading entitlements for a further two years, no-one expected BPS delinkage reference amounts would be tradeable in 2024. Register your interest now. Delinkage in England: trading of reference amount Delinkage reference amounts (based on claims from…

25.5.23 Farmers Weekly – Right to delinked payments can be traded in 2024

A late rule change means that businesses which did not make an English Basic Payment Scheme (BPS) claim in 2023 may now benefit from delinkage by selling their reference amount, which is based on claims made in 2020 to 2022. Updated guidance from the Rural Payments Agency (RPA) recently set out how delinked payments will…

15.3.23 – Farmers Weekly – New factors emerge in final trading year for BPS entitlements

The final year of being able to buy and sell English Basic Payment Scheme (BPS) entitlements is seeing a slow start to trade in a market that is very difficult to call. Trade can take place at any time in a claim year up to the 15 May BPS application deadline. However, it tends to…

15.3.23 – Western Morning News – Market for Biodiversity Net Gain is confirmed

This latest announcement on Biodiversity Net Gain provides certainty that the mandatory BNG market will be starting in November and the marketplace will be left to existing independent selling agents with a hands-off approach from the Government. Local Planning Authorities’ (LPA’s) involvement in the market’s operation will be restricted ensuring this new environmental credit will…

2.3.23 – Farmers Weekly – Biodiversity unit and nutrient credit stacking – What we know

Landowners and occupiers will be able to stack biodiversity net gain alongside nutrient mitigation measures and other environmental payments on the same land. Biodiversity net gain (BNG) requires that the effect on biodiversity of a new development is quantified, and the natural habitat is enhanced and left in a measurably better state. Confirmation that stacking…

24.2.23 BIODIVERSITY NET GAIN – BREAKING NEWS – LATEST GOVERNMENT GUIDANCE

25.1.23 UK MARKETS 2022 – BNG – CARBON – NITRATES & PHOSPHATES – BPS ENTITLEMENTS – WATER ABSTRACTION LICENCES

We have published our 2022 UK Market Report (click here) which we hope you will find of interest. START OF 2023 TRADING As we approach the final trading year for English BPS entitlements, it is good to see the Environmental Credit markets starting to provide other revenue streams for you and our 2022 report as…

18.1.23 – Western Morning News – Taxation of Environmental Credits

TAXATION OF ENVIRONMENTAL CREDITS – SOME THOUGHTS As environmental credits become more prominent and more markets open for them, questions are increasingly arising about their tax status. Are they capital assets whose sale is subject to CGT? Do they actually qualify as income instead? What is their significance for inheritance tax? Are they subject to…