Failing badly at this Dairy lark

td5man

frazzledhome wrote: »

That is so so true.

You don't need to know the tax codes but need to be informed enough to ask questions.

No point panicking when ROS form arrives and then blaming your accountant. Tax planning is a constant medium term decision process.

Your accountant needs to know what your plans and goals are re your business. If they don't there can't be a plan.

How many have their 2014 accounts finalised and how long ago?

Need to get the whip out.

darragh_haven

frazzledhome wrote: »

That is so so true.

You don't need to know the tax codes but need to be informed enough to ask questions.

No point panicking when ROS form arrives and then blaming your accountant. Tax planning is a constant medium term decision process.

Your accountant needs to know what your plans and goals are re your business. If they don't there can't be a plan.

How many have their 2014 accounts finalised and how long ago?

Submitted last week. Paperwork was always a strong point here. Have to give my dad credit for it.

jetfiremuck

Another way to look at it is if you add up all the outstanding debt and outgoings ....then apply that against the value of the land, would you go to a bank and take a mortgage out to buy it if you would consider it a good deal it's the layout of the outgoing and outstanding debts that's causing the hassle. As long as you are making payments to reduce the debt you are making progress. You are turning around a farm setup that has been badly run and managed for years. Some parents though blamed are helpless individuals. If you could muster some confidence in your mother (sounds like a good working grafter) in spite of her husband can give you help and maybe get your father excited about farming again. Keep at it it'll come right. I'd set a goal list and start clearing the easy stuff first to give you a boost. Good luck

kowtow

Farmer Pudsey wrote: »

Your accountant is only as good as yourself.

If he was, I think I'd pack it all in and take up basket weaving.

lakill Farm

Farmer Pudsey wrote: »

Your accountant is only as good as yourself.

so true.

kerryjack

Interesting tread this looking in I think a lot of lads looking in are drooling at what you have got here no siblings nosing around the place looking for there share a good working farm with very modest debt per cow your ould lad certainly hsd a few problems but it was common enough for farmers back then to lash in to the porter on mart days or whatever day took there fancy but farming can be a very lonely occupation at times and I know back then the public houses would be hoping I know because I was there trying to get my ould lad home to milk the cows my ould lad is nearly 90 now so the porter didn't kill him my advice OP is forget about the past and look to the future some fine evening milk early have a BQ with family including your parents and don't talk farming

Markcheese

kerryjack wrote: »

Interesting tread this looking in I think a lot of lads looking in are drooling at what you have got here no siblings nosing around the place looking for there share a good working farm with very modest debt per cow your ould lad certainly hsd a few problems but it was common enough for farmers back then to lash in to the porter on mart days or whatever day took there fancy but farming can be a very lonely occupation at times and I know back then the public houses would be hoping I know because I was there trying to get my ould lad home to milk the cows my ould lad is nearly 90 now so the porter didn't kill him my advice OP is forget about the past and look to the future some fine evening milk early have a BQ with family including your parents and don't talk farming

That's all true but not as easy to see it that way when you're asset rich but very cash poor .
And lads telling you what a great job you've got when you're struggling to have cash to pay simple house hold bills- ain't gonna do much either..
But hang in there - a bit of effective planning -farm and business - possibly restructuring debt and maybe taking more to make life easier-

Aska

Well a lot of soul searching has gone on over the past few weeks (that wont put any cash in the account though!) and to be honest I was still on the fence, had an adviser out and he recommended that I get more cows before spending money on reseeding etc... he reckons I am understocked by approx. 30-35 cows, now the problem I have with that is, 30 odd cows will cost a fair chunk them factor in another shed will be required to house them and also the 6 unit parlour will be a challenge with almost 90 cows if that was to be come reality.

So I said to myself I would get the heard test this week out of the way first, well low and behold I had 7 inconclusives in the herd. 4 cows and 3 maiden heifers (bringing my grand total of maiden heifers to the mighty figure of 4 remaining for this year (remember the tax man already got a bunch of them these a few months back)

So after that bombshell I have decided to get shot of these and do the test again in 42 days and try and come clear then and ship all off then.

mahoney_j

Aska wrote: »

Well a lot of soul searching has gone on over the past few weeks (that wont put any cash in the account though!) and to be honest I was still on the fence, had an adviser out and he recommended that I get more cows before spending money on reseeding etc... he reckons I am understocked by approx. 30-35 cows, now the problem I have with that is, 30 odd cows will cost a fair chunk them factor in another shed will be required to house them and also the 6 unit parlour will be a challenge with almost 90 cows if that was to be come reality.

So I said to myself I would get the heard test this week out of the way first, well low and behold I had 7 inconclusives in the herd. 4 cows and 3 maiden heifers (bringing my grand total of maiden heifers to the mighty figure of 4 remaining for this year (remember the tax man already got a bunch of them these a few months back)

So after that bombshell I have decided to get shot of these and do the test again in 42 days and try and come clear then and ship all off then.

Aghh ****e ,sorry to hear that .try and stay positive anyway even though easier said than done I know

whelan2

Aska wrote: »

Well a lot of soul searching has gone on over the past few weeks (that wont put any cash in the account though!) and to be honest I was still on the fence, had an adviser out and he recommended that I get more cows before spending money on reseeding etc... he reckons I am understocked by approx. 30-35 cows, now the problem I have with that is, 30 odd cows will cost a fair chunk them factor in another shed will be required to house them and also the 6 unit parlour will be a challenge with almost 90 cows if that was to be come reality.

So I said to myself I would get the heard test this week out of the way first, well low and behold I had 7 inconclusives in the herd. 4 cows and 3 maiden heifers (bringing my grand total of maiden heifers to the mighty figure of 4 remaining for this year (remember the tax man already got a bunch of them these a few months back)

So after that bombshell I have decided to get shot of these and do the test again in 42 days and try and come clear then and ship all off then.

Did you ask the advisor what would you be paying for the 30 extra cows with?

Sam Kade

whelan2 wrote: »

Did you ask the advisor what would you be paying for the 30 extra cows with?

Get it off the money tree

Aska

whelan2 wrote: »

Did you ask the advisor what would you be paying for the 30 extra cows with?

I think he could see the flaws in his statement once he looked at the books.

I get his idea, it was that you want milk going out the gate which in turns brings a few quid back in but there's nothing I can sell to get such numbers in

Aska

mahoney_j wrote: »

Aghh ****e ,sorry to hear that .try and stay positive anyway even though easier said than done I know

feck off I had enough positives for one day haha

Bullocks

Aska wrote: »

feck off I had enough positives for one day haha

Fair play to you Aska, at least you can pick a joke out of it ! Hopefully you will go clear in the next test

Aska

Bullocks wrote: »

Fair play to you Aska, at least you can pick a joke out of it ! Hopefully you will go clear in the next test

You have to laugh at time, else you would go crazy, I was crazy earlier in the day but it's time to carry on now.

I am going down the official 'quick slaughter' route which will probably annoy some here, but that's my choice now and I will take the hit on them.

cute geoge

Aska wrote: »

You have to laugh at time, else you would go crazy, I was crazy earlier in the day but it's time to carry on now.

I am going down the official 'quick slaughter' route which will probably annoy some here, but that's my choice now and I will take the hit on them.

IT is probably the best bet with that no. of doubtfulls . You get the ball rolling so u get the herd tested again in 60 days and hopefully get all clear for next spring

Aska

cute geoge wrote: »

IT is probably the best bet with that no. of doubtfulls . You get the ball rolling so u get the herd tested again in 60 days and hopefully get all clear for next spring

No 42 days and if clear then all is good to sell.

The DVO said get the permit to slaughter and you have 3 options, one await valuation etc, another is slaughter and request they look at the glans and the last is tick the box not to check the glans. But those two ways I only get piss poor factory price but could be clear after one test.

Not sure why the 'don't check the glans' option is even available really, seems weird to me.

greysides

I've known seven inconclusives to come okay on a retest but it would be well against the odds. Getting rid is sensible from a TB point of view, although it's very poor help in the bigger scheme of things.

jimmy G M

Aska wrote: »

So after that bombshell I have decided to get shot of these and do the test again in 42 days and try and come clear then and ship all off then.

So you intend to sell all stock if clear?

cute geoge

What would be the worst case scenearo if you retested these cows and they went down , would you have to wait long to retest the herd after reactors being removed and would you have to test herd twice to get allclear
I had a couple of doubtfulls last year and got them retested clear after 42 days so it might be worth a gamble.
Its most important in spring to be clear to sell and buy so do your maths and work back from mid feburary the no. of days locked up if your cows show up with tb'
It is most convienent for dept. if you slaughter these doubffulls immediately

Bscan86

Aska believe it or not you're doing good, as others have mentioned could you gather all your debts into 1 long term loan? With the extra available money you wud have you could by degrees reseed field by field and starting from the yard lay an affordable amount of road year after year and in 5 years think of the work you would have done. I'm not for a minute saying its a piece of piss but there are options out there. Also and I could be wrong but maybe the justified anger you have towards your father is preventing you from seeing things ain't all bad. If you can be paying out over €4,000/month you must be doing something right! Quit the winter milking and go driving a lorry: dry warm conditions and guaranteed income which would keep the wolves from the door easily. Keep up the good work