Dairy Chitchat 4, an udder new thread.

Pinsnbushings

https://www.boards.ie/discussion/comment/121769283#Comment_121769283

Pricy enough to get going so, I'm just after being through the transfer process and I have my full of fees from solicitors and accounts for the time being. With off farm income and hopefully if the thing stays profitable I'd say it may suit.

whelan2

Would the calves not be very warm with the jackets on in this clammy weather?

wrangler

https://www.boards.ie/discussion/comment/121769621#Comment_121769621

Yea, I'd be thinking the same,

We used to use a false ceiling at the back of the pen for warmth and you'd see them under it when cold and lying around the front of the pen when warm.

davidk1394

https://www.boards.ie/discussion/comment/121769621#Comment_121769621

Going taking them off some of the calves here. Their sweating underneath them.

ginger22

https://www.boards.ie/discussion/comment/121769821#Comment_121769821

Calves definitely thrive better with the jackets. Can't say I have ever seen a problem with them sweating. Last year was our first time with them. Didn't have one sick calf since but we took some other precautions also.

mahoney_j

https://www.boards.ie/discussion/comment/121769538#Comment_121769538

Cost me 7 k vat inc including first year accounts )plus solicitor to draw lease and auctioneer to do valuations on equipment ,yard and land …cost is steep I thought but there is a fair bit of work in it …new limited company bank account to be set up too

whelan2

Only ever use the jackets on sick calves here. It's another job if you've to put them on all calves

mahoney_j

https://www.boards.ie/discussion/comment/121769850#Comment_121769850

I’ve jackets on all my calves on auto feeder ….actually checked to see if any were sweating this morning and none ….I’ve breathable jackets …cheap ones may not be

straight

I wouldn't buy a jacket for myself not to mind for the calves. Although I have heard nothing but good about calf jackets in fairness. Like my calves to be tough and hardy like myself 🤣🤠.

I think the less you interfere with nature the better really.

mahoney_j

https://www.boards.ie/discussion/comment/121769902#Comment_121769902

Anything to keep calves healthy and trouble free is worth it imo

Jack98

https://www.boards.ie/discussion/comment/121769458#Comment_121769458

We’d basically no cap allowances, bought land before Christmas will make it easier to pay for that and works better with me being in a partnership with parents and keeping salary from off farm job seperate to the farm. It made sense for us but might not for others.

alps

https://www.boards.ie/discussion/comment/121770001#Comment_121770001

Sometimes a twist in you going in partnership with the company. Talk through that.

Say my name

https://www.boards.ie/discussion/comment/121769863#Comment_121769863

Have jackets on all the calves here bar the three oldest ones as I thought they'd be right. This morning those three are slow drinking up their milk and the rest have never missed a beat.

They'll be going on those too now.

Edit: When their rumen is not going, they're very susceptible to everything going as they can't generate their own body heat. When their rumen is working generally be fine in themselves.

Jack98

https://www.boards.ie/discussion/comment/121770124#Comment_121770124

Accountants had a farm advisory facility too went through all that with them and our own advisor too, hopefully it all works out now was a big jump to make.

K.G.

Just on the limited company thing.dont go in to avoid tax.only go in to invest in your business.if you are fully reliant on a farm for income I'd be slow enough to go in a company.if say I was young with all the costs of life ahead house family partners etc I d be slow going in to a company.if however there was a partner with a good income and the back broke on a house and some land came for sale locally I'd consider it.i repeat do not go in for tax.go in for investment

green daries

https://www.boards.ie/discussion/comment/121770749#Comment_121770749

Why explain the reasons please

K.G.

https://www.boards.ie/discussion/comment/121771647#Comment_121771647

It's sounds great 12.5 % versus maybe 48 % tax but not only are you keeping money from the tax man you're keeping money from yourself as well.if you have to take a relatively high wage to sustain yourself the benifits are very marginal as you are doubling the structures and you lose a lot of privacy as regards your business. Basically it's a tax efficient way to buy land but outside of that it doesn't offer alot as to be fair as bass has often pointed out sole trading farming does offer some tax advantages over a paye taxpaying.its important to remember that the company owns any assets bought through it when it would come to division of assets in the future

yewdairy

Farming in a company 7 years, delighted with it, has allowed us to retain a lot of cash for reinvestment. Also gives a very clear line between the farm finances and the personal finances.

It's was a long term decision for us basically it's the structure we will farm in for our entire farming career.

Company's are obviously an entirely separate legal entity. On the tax saving when the money goes to the taxman, it's gone there are no more options. However if the money is retained in a bank account you control you have lots of options

Bass Reeves

https://www.boards.ie/discussion/comment/121771885#Comment_121771885

What kind of retained profits are you holding onto, 10-20k/ year......50k/ year or 70-100k+.

If its less than 50k/ year you are wasting your time unless you are investing in land or something else and even at 50k retained profits its probably border line

https://www.boards.ie/discussion/comment/121771835#Comment_121771835

I see someone was listening in class

green daries

https://www.boards.ie/discussion/comment/121771835#Comment_121771835

That's a ridiculous statement kg 🙄 I completely agree with yewdairy

green daries

Bass your away again on one

What's the latest cost of production bass are we down to 15 cent a litre yet and sure give the gobshite 10k a year he'll be happy with that ( the wife will keep the rest going)

K.G.

https://www.boards.ie/discussion/comment/121772280#Comment_121772280

How so?.it can do different things for different people but I ll just pose a question.time moves on and you have 3 children so you want to do something for all of them.if one is continue farming and you have retained alot of your cash within the company how do you look after the other 2 children.

K.G.

https://www.boards.ie/discussion/comment/121771885#Comment_121771885

When you say cash for reinvestment are you saying infrastructure and facilities spending or asset purchase?

ginger22

For once I agree with Baas. If you are reinvesting in the farm there is no point being in company structure because you can claim capital allowances anyway. You would have to be throwing off substantial free cash before even thinking about company structure, perhaps if you bought land it would make it easier to make capital repayments. If it is just to avoid paying tax there are lots of other thing you could do with your money to keep it out of the tax man's hands. A good pension being number one.

green daries

https://www.boards.ie/discussion/comment/121772320#Comment_121772320

There's lots of ways and means that should be explored long before that. Time comes. A really good accountant is required when setting up and managing a company just for instance you know that all lands owned before incorporating are only leased into the company ...........there are farmers with director loans running into close to the million mark.

( tax free money owed to the directors by the company) That's a couple of examples...and I'm not that bright god help us.

Mooooo

I see on ear to the ground there they mentioned increasing the minimum storage requirements by 20% and the extra cost but no mention of the fact that if dero goes the cows to pay for it may be gone. Be nice if they covered all aspects for a change. Yer wan Holly cairns harping onon newstalk talking shite as well when it's the reg changes are the causes of the problems she's giving out about now

Siamsa Sessions

Design question for feeders in the parlour - would individual feeders be safer for slow/shy cows rather than one big long trough where the bigger/faster cows could hoover up more than their share?

I think I saw Farm Theory saying he thought this but it turned out not to matter in his new parlour.

K.G.

https://www.boards.ie/discussion/comment/121772702#Comment_121772702

Just to deal with the loan s .in a dairy setup a substantial part of the loans would be stock which if it was accounted for properly was already available tax free on sale or retirement to the best of my knowledge.my fear is people just look at the tax number and don't understand that you can't spend it on coke and hookers anymore

K.G.

https://www.boards.ie/discussion/comment/121772853#Comment_121772853

One long one here. Adjustable breast rail a must

atlantic mist

do the people here in limited companies now call themselves company directors as oppose to farmers?

siamsa - if ruinning low cost system/animal go with one, if going with hol type breeding id go with separate...how much meal are you budgeting to feed?