Grant for fencing?

Muckit

I didn't want to hijack the 'FRS fencing' tread, so...

can anyone tell me if there is a grant for fencing materials or can you claim VAT back or something?

How would a lad go about getting it and is there certain specifications you have to work to?

Thanks

Muckit

reilig

Muckit wrote: »

I didn't want to hijack the 'FRS fencing' tread, so...

can anyone tell me if there is a grant for fencing materials or can you claim VAT back or something?

How would a lad go about getting it and is there certain specifications you have to work to?

Thanks

Muckit

You can claim back the VAT on fencing materials. You have to be registered for tax in respect of the farm in order to be able to reclaim the vat. Its as simple as filling out this form

I don't know if there are any specific grants for fencing. There was something to do with fencing for sheep, but that may be gone now.

bogman_bass

fencing counts as capital expenditure same as buildings but if you claim the VAt back you have to spread it out over 3 years I think. somebody correct me if I'm wrong with the number of years

reilig

bogman_bass wrote: »

fencing counts as capital expenditure same as buildings but if you claim the VAt back you have to spread it out over 3 years I think. somebody correct me if I'm wrong with the number of years

I don't think this is so. I claimed vat back last year for drainage and fencing and did it all in one go.

Lakill will know!!

Username John

reilig wrote: »

I don't think this is so. I claimed vat back last year for drainage and fencing and did it all in one go.

Lakill will know!!

Same here - I just sent in the invoices (they have to be original, and mark paid) and they processed them and put the VAT into my bank account. It was processed pretty quick too I remember...

Farmer Pudsey

bogman_bass wrote: »

fencing counts as capital expenditure same as buildings but if you claim the VAt back you have to spread it out over 3 years I think. somebody correct me if I'm wrong with the number of years

Strictly speaking it has to be replacing or new fencing as opposed to maintenance. It is then classed as capital expenditure and the Tax relief (not the Vat) has to be spread over a specfied number of years however some accountants just put all the cost through in the one year unless it is a large amount of money

rancher

Muckit wrote: »

I didn't want to hijack the 'FRS fencing' tread, so...

can anyone tell me if there is a grant for fencing materials or can you claim VAT back or something?

How would a lad go about getting it and is there certain specifications you have to work to?

Thanks

Muckit

As far as I know the sheep fencing grant is still available, look it up under 'Targeted Agriculture Modernisation Scheme' (TAMS) on dept website

grange mac

Dont have to be registered for vat, you clan claim vat back for land imrovments cap ex, fencing, piping, stones machine hire. Done it last yr.

Delber

One thing that may not not be known is that if you plant hedging with the sole use of stock proofing your land then the VAT can be claimed back on the hedging. This could be applicable to any REPS plans, but i would stress that professional advice should be sought. I have previously reclaimed successfully from revenue.

lakill Farm

fill in the vat 58b form
enclose all orginal vat receipts/invoices
post to the address in limerick (Freepost)

they will contact you within 2 weeks to confirm vat refund amount
receive a cheque/transfer for the full amount to your bank within 6 weeks of sending in the full form
receive back stamped invoices maybe 8 weeks after sending in the form

Vandy West

Bit confused between claiming VAT and tax relief on capital expenditure.

If I spend €1500 on fencing/drainage/etc , of which 23% is VAT (€280) then i can either

a) claim the €280 VAT back and get tax relief on (1500-280) = €1220, which at 20% = €244. Which would be a total 'savings' of €280+€244 = €524
or
b) get tax relief on the whole amount €1500 at 20% = €300

Or am i missing something??

May need a new accountant.....

lakill Farm

you get to claim capital allowance over 8 years (12.5%) some cases such as the new slatted sheds had capital expenditure over 3 years (33.3%)

So your fence is €1500 (incl)

VAT refund year 0 refund to your bank of €280 (23% on materials or 13.5 if a contractor does the work for you)

Year 1 - 8 Capital allowance of €1220/8 =€152.50 per each year

So over 8 years you get the tax benefit of the full €1,500

New accountant . PM me for a real good quote :rolleyes:

Pharaoh1

Sorry I'm not familiar with this issue and always assumed that only those registered for VAT could reclaim VAT.
But looking at the revenue site it seems that I (not VAT registered) could reclaim VAT on the new fences, fencing repairs, buying steel to fix my machinery shed etc..
Am I correct?
I've never done this.

How far back can you go with this claim?

Could I for example just get all 2011 receipts for posts, wire, insulators, gates, steel and timber for the shed etc...
What about the work I did in previous years like underground piping for paddocks for example, reseeding and land levelling?? Thinking though this would mess up my tax returns where all costs/expenses were included at the VAT inclusive amount.

Am I missing out on a sizeable refund and am wondering why my accountant never said anything?

lakill Farm

[
Am I missing out on a sizeable refund and am wondering why my accountant never said anything?[/QUOTE]

Probably, i had a new client and over 4 years had 16.5k refund. Why? his old accountant didnt do it and i went to his farm had a look around and he had built new sheds and fencing. Nice refund.

You cant claim vat on refiars to machinery or sheds. Only new structures, fences, tanks, lagoons, crushes etc.

Max you can go back is 4 years. some revenue offices may let you go 2008,2009,2010 & 2011 as the 4 years now, others will say 2009-2012

Pm me if you want.

milkprofit

ill in the vat 58b form
enclose all orginal vat receipts/invoices -===-Must be signed and dated in your name==
Must be invoice not statment
If u send one not allowed they will deduct same
post to the address in limerick (Freepost)
Very easy and efficient do that your self no need a/c

larrywithalorry

lakill Farm wrote: »

fill in the vat 58b form
enclose all orginal vat receipts/invoices
post to the address in limerick (Freepost)

they will contact you within 2 weeks to confirm vat refund amount
receive a cheque/transfer for the full amount to your bank within 6 weeks of sending in the full form
receive back stamped invoices maybe 8 weeks after sending in the form

I know that i have to have the invoices marked paid but can i just write 'paid' on it or do i have to go back to the supplier and get him to do that. Also i have invoices going back to July '08 can i claim these.

ppn

As long as you have the original invoice. They don't accept copies or redrafts for some 'Irish public service' reason no doubt.

JohnBoy

lets be honest.

if they accepted copies lads would reclaim the vat today, then again next year, and the year after.

snowman707

not wishing to go off topic here but a quick query

is VAT refundable on a forestry roadway, ?

the work will be grant aided , if can get it complete before the end on this month:eek:

Viewtodiefor

lakill Farm wrote: »

fill in the vat 58b form
enclose all orginal vat receipts/invoices
post to the address in limerick (Freepost)

they will contact you within 2 weeks to confirm vat refund amount
receive a cheque/transfer for the full amount to your bank within 6 weeks of sending in the full form
receive back stamped invoices maybe 8 weeks after sending in the form

Lakill just wondering if it is possible to claim vat back on new roadway and write off against tax? Eg building new road this month. Cost digger hire. 3000+vat
Fencing materials 1000+vat
Binding from quarry 1800+ vat

Any info a help! Thanks

Username John

Viewtodiefor wrote: »

Lakill just wondering if it is possible to claim vat back on new roadway and write off against tax? Eg building new road this month. Cost digger hire. 3000+vat
Fencing materials 1000+vat
Binding from quarry 1800+ vat

Any info a help! Thanks

I am am not an accountant - but in this case I would think it is.

The vat58 form states
NB: VAT is not refundable on:
- repairs to farm buildings, structures and farm roadways
- outlay on roadways to dwelling house
So your new roadways not to dwelling houses (I assume) should qualify.

Also - I sent off the vat58 form previously - and one item on it didn't qualify - they returned the receipts, and included a note saying which item didn't, and the reason why. No problems...

KCTK

Username John wrote: »

I am am not an accountant - but in this case I would think it is.

The vat58 form states
NB: VAT is not refundable on:
- repairs to farm buildings, structures and farm roadways
- outlay on roadways to dwelling house
So your new roadways not to dwelling houses (I assume) should qualify.

Also - I sent off the vat58 form previously - and one item on it didn't qualify - they returned the receipts, and included a note saying which item didn't, and the reason why. No problems...

Yep, farm roadway is allowed, underpasses also.

Just remember though that if you reclaim VAT on something it is then a Capital expense so you cant write the whole cost off in your accounts in the year, you will bring it through as Capital allowances instead (usually over 8 years now seeing as excellerated capital allowances no longer available) and the Capital amount is the cost net of VAT.

larrywithalorry

larrywithalorry wrote: »

lakill Farm wrote: »

fill in the vat 58b form
enclose all orginal vat receipts/invoices
post to the address in limerick (Freepost)

they will contact you within 2 weeks to confirm vat refund amount
receive a cheque/transfer for the full amount to your bank within 6 weeks of sending in the full form
receive back stamped invoices maybe 8 weeks after sending in the form

I know that i have to have the invoices marked paid but can i just write 'paid' on it or do i have to go back to the supplier and get him to do that. Also i have invoices going back to July '08 can i claim these.

Hi.
I applied 2 reclaim vat. I sent off da invoices last Wednesday. I got da stamped invoices back today - couldn't believe it. It had a note in it saying da dere was €50 deducted because was not eligible(mainly because i put everyting in dere.)
The invoices are going back to May 08.
They said that the money will be on soon :-)

snowman707

larrywithalorry wrote: »

Hi.
I applied 2 reclaim vat. I sent off da invoices last Wednesday. I got da stamped invoices back today - couldn't believe it. It had a note in it saying da dere was €50 deducted because was not eligible(mainly because i put everyting in dere.)
The invoices are going back to May 08.
They said that the money will be on soon :-)

any chance you could ask a couple of the staff in Charolette Quay to move to Johnston Castle

the idi%$s there are currently making life a little difficult for me

larrywithalorry

Hi.
I applied 2 reclaim vat. I sent off da invoices last Wednesday. I got da stamped invoices back today - couldn't believe it. It had a note in it saying da dere was €50 deducted because was not eligible(mainly because i put everyting in dere.)
The invoices are going back to May 08.
They said that the money will be on soon :-)[/Quote]


Just got the cheque in the post today. That is some turn around. You can't complain about that. Pints are on me this weekend.:-):-):-)

Uggoon

Sorry to post on this thread, but can anyone inform me about VAT on timber sales.

KCTK

Uggoon wrote: »

Sorry to post on this thread, but can anyone inform me about VAT on timber sales.

Standard rate (currently 23%) http://www.revenue.ie/en/tax/vat/rates/decision-detail-01564.jsp

Uggoon

I sold timber standing to a VAT Reg'd contractor, does this class as a flat rate sale. IE if I sell cattle or milk I get a 5.2% VAT add on to compensate for VAT I pay and cant claim as i'm not VAT reg'd. According to the IFA web page I should get 5.2% added to my sales, but no one else can clarify this for me.

KCTK

Uggoon wrote: »

I sold timber standing to a VAT Reg'd contractor, does this class as a flat rate sale. IE if I sell cattle or milk I get a 5.2% VAT add on to compensate for VAT I pay and cant claim as i'm not VAT reg'd. According to the IFA web page I should get 5.2% added to my sales, but no one else can clarify this for me.

Yes is the answer to your question, the sale of standing timber by you (a non registered farmer) to a VAT registered person is treated as a sale of an agricultural produce and so you should receive the flat rate addition, paragraph below taken from Revenue website on this.
5. Flat-rate farmers

5.1: A flat-rate farmer is a farmer who is not registered for VAT in respect of his/her farming activities. In order to compensate for VAT paid on supplies to him/her, such a farmer is entitled to a flat-rate addition (at present 5.2%) to the prices at which his/her agricultural produce or agricultural services are supplied to VAT-registered persons including marts, agricultural co-operatives and meat factories. A flat-rate farmer is also entitled to reclaim VAT incurred in respect of the construction, extension, alteration or reconstruction of farm buildings, and land drainage, from the VAT Repayment (Unregistered) Section.

Uggoon

Thank you for your advice & help.

ziggerd

i was browsing and under the revenue's website you will find a form Vat 58 for use on non registered farmers for claiming vat back on new farm buildings, fencing, land drainage etc.....
it says reclamation of land as well but i'm wondering does the land have to be non-usable before re-seeding or can your claim on farm land that was being farmed and you just want to make it more productive

Ashill5

I keep a couple of sucklers and was thinking of getting a small number of sheep but the cost of fencing was putting me off. Even though I have no sheep currently would I still be able to apply for fencing grant.