How do you …. Get out of farming?

yoki

Member
To turn your question on it's head.

Lemmy Kilmister was once asked how Motorhead managed to keep going for so long. He said it was simple, they just didn't quit.

I think your dilemma is simple, you either continue to farm or you don't.

Furthermore, although the question is simple, I don't think answering it will be easy.

However, once you do answer it, I think everything else will suddenly become much clearer.
 

Rich_ard

Member
Tax is a big issue, but what is the point in avoiding it if you want change
I'm not anti tax but I'd give it serious thought. I don't know how to avoid it but wouldn't like to do something that then counts as some taxable income or whatever if it was easily avoided by doing somthing different. It could be as simple as the wording of a sale or dispersal.
 

czechmate

Member
Mixed Farmer
To turn your question on it's head.

Lemmy Kilmister was once asked how Motorhead managed to keep going for so long. He said it was simple, they just didn't quit.

I think your dilemma is simple, you either continue to farm or you don't.

Furthermore, although the question is simple, I don't think answering it will be easy.

However, once you do answer it, I think everything else will suddenly become much clearer.

to mix that with my early post.,, you could use the Stones and yes, for example Charlie Watts carried on… until he died 🙁
 

Lakes Nash

Member
Mixed Farmer
Location
South lakes
Well if going to retire and come to cumbria, lovely view was the lakes this morning, all white! But the ground is pi$$ wet through, my mate just started lambing, his f**k up fortnight has started, weather at the moment is enough to get most folk down!!!
 

fgc325j

Member
My Mrs is on a decent wage , I feel guilty she pays the household bills, the farm just wipes its nose
I am 60 this year , and was always jealous of my time , meaning if I wanted to go up the hills or out on my old bike nothing stopped me , now the livestock ( rightly) come first .
I suppose if we could change things to get better value for the stock then at least I would be able to pay my own way rather than relying on the boss
60 this year, my advice have a look at those around you in their 70's who are still farming, because that'll be you in 10-12 years time.
 

som farmer

Member
Livestock Farmer
Location
somerset
not that much simpler if you have family to carry on.

you really have to make sure all kids are happy, about what's in your will, otherwise you will leave a nightmare behind you.

and farms and stock are highly valuable commodities.

i'm 68 and crippled, so actual 'farming' is out, son does all that, and both my two know what's going to happen, whether partners agree, different matter.

but if no-one to follow, come to a share farming agreement, with a youngster keen for a chance, and fade out over a few years. Really depends what the finances are like.
 

czechmate

Member
Mixed Farmer
Well if going to retire and come to cumbria, lovely view was the lakes this morning, all white! But the ground is pi$$ wet through, my mate just started lambing, his f**k up fortnight has started, weather at the moment is enough to get most folk down!!!

I havé an old school friend as a face book friend who is something of a card. Yesterday, being the first of March he wrote, « well, December came around bloody quick »🙄
 

toquark

Member
If your current place is bitty, would you consider selling up and moving to a smaller, better farm down the hill? 50 acres of arable in one place is a lot less tying and probably as if not more productive than 200 acres of grass with mouths on it. You could always grass it down and stock it until you’re ready to give up then just rent it out.
 

czechmate

Member
Mixed Farmer
60 this year, my advice have a look at those around you in their 70's who are still farming, because that'll be you in 10-12 years time.

An English guy moved to our farm, it was a run down sheep farm with delapidated house when he bought it. He set out and set up a pedigree limmi herd, altered the buildings and yards for cattle, oh and he was 83 when he bought and didn’t speak French 😳
would of loved to of met him
 

DRC

Member
I'm not anti tax but I'd give it serious thought. I don't know how to avoid it but wouldn't like to do something that then counts as some taxable income or whatever if it was easily avoided by doing somthing different. It could be as simple as the wording of a sale or dispersal.
That’s where good accountants come in. In our situation we had our own land to sell, tenancy surrender and machinery etc to dispose of. A very good chap at WR, walked us through the exact order that things needed doing to mitigate tax. You won’t avoid it altogether but if you get a very good price for the land compared to its purchase price, then it’s ok.
As for retiring from farming, I can recommend it wholeheartedly as it doesn’t mean you just do nothing. There’s some interesting part time jobs out there. I do two jobs that are completely different and also have time time to enjoy pastimes, have holidays and actually enjoy a summer ( weather permitting), without being stuck on a combine or tractor.
 

Kiwi Pete

Member
Livestock Farmer
Considered selling the lot and farming for someone else? Neither had I up until 12 months ago.

We had a really good thing going but in my crystal ball I could see things going several ways and each one was worse... think that's really the problem sometimes: trajectory ?

Eg if you were on £100/hr you'd be grumpy if you knew next year was "only" going to pay £99, you'd be happier if £9 was going to be £10 one day ?

Anyway 5th of March last year I came had a look at here and it was just like that, had no idea how to manage a big dryland station but realised I couldn't end up with less cover on it than the last dudes had managed... did it via a 100 mile commute, quit my trucking job in May, still pondering selling up at that point.

Then the interest rate did a jump and I realised I knew the answer, called a neighbour and asked if he'd like a bit more, he came round 4 hours later with a spade, dug two holes and offered me more than I was inclined to ask for, settled privately before Christmas and been on holiday ever since.
Skipped most of the old stuff, brought the cows and few sheep up with us, filled the house and workshop with new stuff and have not even .1 of a regret, it's not til you get out of it you see how silly it was ?
You think you do, especially if you surf TFF and get to choose from 10 pages of whinge and cringe, but this is about you and yours.

Say you got crushed tomorrow, what are you leaving behind you (other than some stains) is it something only you can wind up ?
In my case it was and I didn't want that "ball and chain"
 

Wood field

Member
Livestock Farmer
Well if going to retire and come to cumbria, lovely view was the lakes this morning, all white! But the ground is pi$$ wet through, my mate just started lambing, his f**k up fortnight has started, weather at the moment is enough to get most folk down!!!
But far far better ground than here… just unaffordable
You will know where I mean when I say ..
If I were to sell up I would like a little bungalow with a garden along the coast road , Baycliff Bardsea type place
 

SFI - What % were you taking out of production?

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    Votes: 105 40.5%
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  • 100% I’ve had enough of farming!

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