herd number

jockey joe

Can 2 brothers use the same heard number or can you get a joint herd number

Bizzum

jockey joe wrote: »

Can 2 brothers use the same heard number or can you get a joint herd number

You can get a herd number in joint names.

jockey joe

I have theheard number in my name allready can I just get the brothers name put on my one or hve we to apply for a new one

1chippy

you can just get him added on. do it early though, sometimes they use it to drag out paying sfp and such saying that its more paperwork.

jockey joe

1chippy wrote: »

you can just get him added on. do it early though, sometimes they use it to drag out paying sfp and such saying that its more paperwork.

Sound for that would it matter if the cattle were not kept in the same yard he lives a bit away from my place he has sheads at his own place but no land

1chippy

jockey joe wrote: »

Sound for that would it matter if the cattle were not kept in the same yard he lives a bit away from my place he has sheads at his own place but no land

wont matter, they will see his sheds and your land as a combined unit, once your not mixing in with another herd.

delaval

jockey joe wrote: »

Sound for that would it matter if the cattle were not kept in the same yard he lives a bit away from my place he has sheads at his own place but no land

Two brothers can have one no..
One will need to become the keeper and all business will be done in that name. You can have cattle wherever you like as long as you work in one herd no.
Cards and all correspondence will be in the name of the keeper. They used to issiue cards etc in both names though not any more

jockey joe

Thanks for that info lads

agcons

Be sure to transfer the SPS entitlements to the new entity before May 15th

ace86

what is the maximum amount of names you can have on any herd number??

Midlandsman80

Another question on this, does it get messy when it comes to tax purposes? if both people were PAYE workers and farm was loss making while investing/growing who can claim the PAYE claw back/rebate? Is it just the "keeper" or do you need contract saying the split? It one was paying a good bit of high tax it would make sense for him to be taking the hit on a lot of costs...cant imagine its that easy though so presume revenue would have some fairly detailed rules around it...

milkprofit

Midlandsman80 wrote: »

Another question on this, does it get messy when it comes to tax purposes? if both people were PAYE workers and farm was loss making while investing/growing who can claim the PAYE claw back/rebate? Is it just the "keeper" or do you need contract saying the split? It one was paying a good bit of high tax it would make sense for him to be taking the hit on a lot of costs...cant imagine its that easy though so presume revenue would have some fairly detailed rules around it...

the dept. of ag issue herd nu. mainly concerned with cattle movement not worried with split of profits or loss for tax
Tax sorted with revenue consult Tax consultant
U canot keep changing split just to save tax

Midlandsman80

milkprofit wrote: »

the dept. of ag issue herd nu. mainly concerned with cattle movement not worried with split of profits or loss for tax
Tax sorted with revenue consult Tax consultant
U canot keep changing split just to save tax

Never suggested Dept of Ag cared about the tax side, just asked if how the Herd number was set up would have any impact on the taxation side of the business. Surely it is something to be considered for two people going to jointly be involved in a farming business. Would it not make sense to also see accountant/tax planner, who specialises in farm accounts so they carry out their business in a tax efficient manner? No point realising in 5 years time that if it was properly structured they could have been much more tax efficient, this is even more so the case in a relatively new enterprise where a lot of investment may be required...

grimbergen

Have you looked into a farm partnership? Some tax benefits associated with that. Your teagasc adviser or local office can advise.