£200000 Suffolk

[Anymulewilldo]

How does this tax dodge work?

You utilise money from your non farming business too find lavish spending on stock for your farming enterprise. Because your other business is very successful and you are good at making money, you can afford too run the farm at a severe loss therefore not getting taxed too death whereas if that capital stayed in the non farming business account it would be subject too the full wrath of HMRC.
the main fault with the system is I don’t have a big non farming business generating millions of pounds too enable me too join!!

 

[sheepwise]

Looked like the auctioneer knew it was to finish up at 200k. Going slowly at 32k then bids went up in5s then suddenly 10k bids. All done and dusted very quickly

Was actually replying to post about Charollais sale. Sorry.

 

[andybk]

Have you any proof to back up your statements. Very cheap comments to make without having any evidence. I was at the sale and would say that for most of the headline prices both buyers and under bidders were genuine and easily identifiable at the ringside. Didn’t think many sold online at all.

re the faults or genuine prices ?

 

[sheepwise]

re the faults or genuine prices ?

Genuine prices.

 

[andybk]

Genuine prices.

of course not , but do you think £200,000 is a genuine sale ? Just a number plucked out the air , the cliques in every breed fix the prices for the best to capitalise on semen sales .

 

[sheepwise]

of course not , but do you think £200,000 is a genuine sale ? Just a number plucked out the air , the cliques in every breed fix the prices for the best to capitalise on semen sales .

Wasn’t talking about the Suffolk. You said that you didn’t think any of the 3000gns plus sales at Worcester Charollais sale would be genuine. It’s that statement I’m asking you for evidence for!

 

[Estate fencing.]

Same thing every year. If the man wants to spent £200k on a tup that’s fine, it’s his money after all . There was county tractor that made that couple of weeks ago and hell i wouldn’t want that on a baler for 12 hours. nor would I want a massive Suffolk with perfect ear and legs.

 

[Woolless]

How does this tax dodge work?

Why don't you come and buy a tup off me for £50k and we'll talk accountancy afterwards?

 

[andybk]

Wasn’t talking about the Suffolk. You said that you didn’t think any of the 3000gns plus sales at Worcester Charollais sale would be genuine. It’s that statement I’m asking you for evidence for!

so a new breeder visits someones farm buys some ewes , then goes to a high profile sale same year and buys a record priced ram of same person , (headlines) then surprise next year original breeder buys an offspring of his own progeny for a near record price, The same happened in another breed i had a bit to do with , buyer visited farm agreed a price but it still went to its prem sale and sold in excess of its purchase price so new buyer could sell semen from this record priced lamb
walks like a duck and all that ! and thats going on in every popular breed , is there any wonder buyers are staying away from prem sales

 

[sheepwise]

so a new breeder visits someones farm buys some ewes , then goes to a high profile sale same year and buys a record priced ram of same person , (headlines) then surprise next year original breeder buys an offspring of his own progeny for a near record price, The same happened in another breed i had a bit to do with , buyer visited farm agreed a price but it still went to its prem sale and sold in excess of its purchase price so new buyer could sell semen from this record priced lamb
walks like a duck and all that ! and thats going on in every popular breed , is there any wonder buyers are staying away from prem sales

Sorry you’ve lost me and still haven’t backed up you original claim.

 

[andybk]

Sorry you’ve lost me and still haven’t backed up you original claim.

i dont need to , to quote "i doubt" ie my own opinion,
i know for sure at least two headliners were put out in inspections , and after protest were allowed to sell , now what genuine pedigree breeder (or group) would buy an animal for high prices with knackered shoulders or bad feet or teeth , it insults the intelligence bearing in mind people at that sale arnt novices , By the time you take those prices out the average looks a lot less , maybe £3500gns is a bit more like it

 

[muleman]

Cant see a problem with £220,000 or whatever it is being pumped into farming circles from an outside business.

 

[Wooly]

You never see a Suffolk ram in the cull pens at Ashford market........... and they sell thousands of sheep.

Rumour has it, Suffolk rams die along time before they get old...........so the best of luck to the buyer who paid £200k for one of them !!

 

[Frank-the-Wool]

I have just watched the video and I was horrified that anyone would contemplate breeding from what couldn't be further away from a commercial sheep if you had tried.
It is almost deformed with legs like tree trunks and it has no back end conformation. About the only EBV it has is for its black head which has probably been touched up with boot polish.

 

[LTH]

Buying a sheep won’t be that much of a TAX dodge will it, there classed as an asset and don’t have relief like machinery? It’s stupid, makes it impossible to purchase the best rams using actual farming money, looks a bit round arsed to me as well

 

[Sheepfog]

That type is about as far removed from commercial prime lamb production as its possible to be, and explains why Suffolks fell in popularity so quickly.

Fortunately there are some progressive breeders producing functional sheep that are rally gaining traction with prime lamb producers. It's just a shame that these prices (and type of Suffolk) undermine the good work being done by these commercially focused breeders.

For balance, I sold some of my pure Suffolk ewes after 5 crops a couple of weeks ago for £140. They had served me well, with many of them producing 10 lambs in that time.

 

[LTH]

That type is about as far removed from commercial prime lamb production as its possible to be, and explains why Suffolks fell in popularity so quickly.

Fortunately there are some progressive breeders producing functional sheep that are rally gaining traction with prime lamb producers. It's just a shame that these prices (and type of Suffolk) undermine the good work being done by these commercially focused breeders.

For balance, I sold some of my pure Suffolk ewes after 5 crops a couple of weeks ago for £140. They had served me well, with many of them producing 10 lambs in that time.

It’s the same with nearly all breeds, and it’s the top breeders which set the fashion which everyone then follows as you want to try and get your own break unfortunately

 

[Bongodog]

You utilise money from your non farming business too find lavish spending on stock for your farming enterprise. Because your other business is very successful and you are good at making money, you can afford too run the farm at a severe loss therefore not getting taxed too death whereas if that capital stayed in the non farming business account it would be subject too the full wrath of HMRC.
the main fault with the system is I don’t have a big non farming business generating millions of pounds too enable me too join!!

So its not a "tax dodge" then as the business has bought an asset for real money, a tax dodge is a scheme that enables you to both keep your money and get out of paying tax.

 

[Skintagain]

I’d call it a rich mans game that’s nearer the mark

 

[neilo]

Buying a sheep won’t be that much of a TAX dodge will it, there classed as an asset and don’t have relief like machinery? It’s stupid, makes it impossible to purchase the best rams using actual farming money, looks a bit round arsed to me as well

Livestock purchases are 100% tax deductible, quite rightly, even if their value surpasses the £250k you can/could spend on capital purchases recently. Livestock is most definitely not treated as capital expenditure, probably because most ‘capital’ purchases don’t turn their toes up at a moment’s notice.