farming.

Blue bull

Hi. I have some land which is lying empty. Was thinking of getting some calves for grazing. maybe angus calves. Anyone any suggestions? Havent farmed the land for a few years but would like to get back into it on a part-time basis, initially. Thanks for any suggestions.

Kovu

Firstly, you'll need a herd number., If yours is dormant/you haven't got one, you'll have to contact the dept to set yourself up. You need a 'recognised holding', and I think this needs to be more than an acre. You'll also need to show that you have separate housing and facilities from neighbouring herds, and appropriate handling facilities and shelter/housing.

Couple of handy pages to download

Herd no info
Herd no application

Reggie.

Blue bull wrote: »

Hi. I have some land which is lying empty. Was thinking of getting some calves for grazing. maybe angus calves. Anyone any suggestions? Havent farmed the land for a few years but would like to get back into it on a part-time basis, initially. Thanks for any suggestions.

Hang around here for a while and you'll pick up a few tips

Base price

If the land has not be utilised for a few years be very careful about putting calves on it as it may harbour ticks that can cause "red water" in cattle.
I know of 2 cases where people from a non farming background bought a few acres got their herd numbers etc, bought a few calves/weanlings to graze and had issues with red water.

Scarymary13

Hi guys, just got back in to farming myself after 3 years. I had to re-activate the herd no at the time. Thank god there was no problems and was just a matter of phoning them. I have a quick question but a lot has changed since I last had animals so I was just wondering what is the current position on farming accounts. Does everyone have to submit these or is it for big farms who actually make a living out of farming? I have beef but just buy a few here and there and then after 1-2 years sell them on.

Any advice is gratefully accepted.

20silkcut

Scarymary13 wrote: »

Hi guys, just got back in to farming myself after 3 years. I had to re-activate the herd no at the time. Thank god there was no problems and was just a matter of phoning them. I have a quick question but a lot has changed since I last had animals so I was just wondering what is the current position on farming accounts. Does everyone have to submit these or is it for big farms who actually make a living out of farming? I have beef but just buy a few here and there and then after 1-2 years sell them on.

Any advice is gratefully accepted.

Everyone, oh lord jaysus don't fall in to that trap of I'm a small farmer making nothing. They will get you eventually .its worse now than ever. They are ravenously chasing people.
It's like cars on the road big or small old or new they all have to be taxed and insured.

Scarymary13

That's what I was wondering but I actually have no income from them whatsoever. I don't get REPs or single farm or anything. The only income I get is when I sell them. If I have to pay tax on that, its not worth it.

I said

Your in the wrong job if ya think there is money in it and tax free lol

20silkcut

Scarymary13 wrote: »

That's what I was wondering but I actually have no income from them whatsoever. I don't get REPs or single farm or anything. The only income I get is when I sell them. If I have to pay tax on that, its not worth it.

Your grand you probably won't owe anything but you will still have to prove that you don't by doing accounts. You will owe your accountant a few hundred euro.
The revenue will know you sold cattle if you sell through a mart and will send you a letter.

Scarymary13

Its more of a hobby than a profession as I work full-time in an office. The concept of keeping accounts does not bother me.

farawaygrass

Scarymary13 wrote: »

Its more of a hobby than a profession as I work full-time in an office. The concept of keeping accounts does not bother me.

It could be in your benefit to do accounts, for a few years anyhow. Might reduce your overall tax bill

pedigree 6

Scarymary13 wrote: »

Its more of a hobby than a profession as I work full-time in an office. The concept of keeping accounts does not bother me.

Even if you just sell one animal a year you have to do accounts.
The dept of ag know already that you sell animals and it could be only a matter of time before revenue find out. You have to declare accounts every year to the revenue otherwise they will come back at you for the years since you had a herd no and selling stock for interest and penalties on top of your tax. Better contact the revenue commissioners or if you don't want to do that another accountant for advice and see what the story is since your not talking of a big amount of livestock a year.

If you think the revenue won't find out. Think again they always find out and then comes the interest and penalties.
Better be proactive with them instead of reactive.

DownOneTourist

Scarymary13 wrote: »

I don't get REPs or single farm or anything.

Take a good read over the schemes that are offered. It all comes down to ticking some boxes in the end. We are getting into organics this year.

Scarymary13

Hi pedigree6 its not that I am evading tax to seeking to. I was just wondering if every farmer even those who are not in receipt of schemes, milking etc. had to do it. I had some great replies so thanks guys Best of luck with the organics DownOne

Jimlh86

Base price wrote: »

If the land has not be utilised for a few years be very careful about putting calves on it as it may harbour ticks that can cause "red water" in cattle.
I know of 2 cases where people from a non farming background bought a few acres got their herd numbers etc, bought a few calves/weanlings to graze and had issues with red water.

I stand to be corrected but red water isn't as much of an issue in younger cattle?

pedigree 6

Scarymary13 wrote: »

Hi pedigree6 its not that I am evading tax to seeking to. I was just wondering if every farmer even those who are not in receipt of schemes, milking etc. had to do it. I had some great replies so thanks guys Best of luck with the organics DownOne

No business or self employed seeks to evade tax it just happens.

I'm reminded of a farmer who lives about 8 miles away from me who used to laugh at everyone having an accountant and paying tax. He said they were all eejets and he never filed a set of accounts as he was only a poor sheep and cattle farmer. His name was in the paper 2 years ago the revenue were looking for 800,000 euro off him including interest and penalties.

As I say you'll have to file a set of accounts and probably from when you got the herd no in your name. Even if you made profit or not you have to show them.

tractorporn

pedigree 6 wrote:

. Even if you made profit or not you have to show them.

You will definitely have to file accounts to the taxman. But if it's just a hobby like you say and you make a loss that can lessen your prsi tax burden.

Miname

Scarymary13 wrote: »

Hi guys, just got back in to farming myself after 3 years. I had to re-activate the herd no at the time. Thank god there was no problems and was just a matter of phoning them. I have a quick question but a lot has changed since I last had animals so I was just wondering what is the current position on farming accounts. Does everyone have to submit these or is it for big farms who actually make a living out of farming? I have beef but just buy a few here and there and then after 1-2 years sell them on.

Any advice is gratefully accepted.

Get an accountant and get your accountants done, even if they are zero. make sure you get one that knows a bit about farming and you probably will be able to use the farm accounts to work with your paye to your advantage. This great info from a lad whos behind on his own returns.

Scarymary13

Well I am going to do my own accounts and get an accountant to check them and sign off. The hard task will be keeping all the receipts! All my taxes are paid in the North so it will be interesting to see how that one plays out.

Username John

Scarymary13 wrote: »

Well I am going to do my own accounts and get an accountant to check them and sign off. The hard task will be keeping all the receipts! All my taxes are paid in the North so it will be interesting to see how that one plays out.

There are items that are allowed expenses as well, which you can write off against the farm (% of electricity, % of phone, % of car maintenance, etc)

So you are aware of them. I know an accountant is another expense, but they are worth it, at least initially to find out whats allowable / acceptable...

Scarymary13

Thanks John and Miname!

Robeman

Scarymary13 wrote: »

That's what I was wondering but I actually have no income from them whatsoever. I don't get REPs or single farm or anything. The only income I get is when I sell them. If I have to pay tax on that, its not worth it.

If you don't make a profit then you don't pay tax. If you make a profit then you pay tax.

There are ways of reducing or even eliminating tax but this involves spending cash. E.g. invest in better drainage, fences, reseed for better grassland, invest in slatted shed, handling facilities, buy a tractor, machinery etc.

Its up to you whatever you decide.