- Location
- Yorkshire
A man from Liverpool asking what machinery you have on your farm
Grey fergy cut orchard ,and plays in garden , 3130:restored ,might move combine header road run tractor ,its done 0000 of hours sat flat out on irrigation pump before last electric pump put in ,but just to give it arun ,old 2140:game keeper and into woods ,little jd averdex and game strips 6610:hedger ,6610 irrigator tractor ,6620 ,beet drill ,rolling ,drill game strips and spare corn cart , 6900 on sprayer permanant., 2 main 215 r do all heavy work , all gone up in value apart from last two , and pinch wifes 230 at harvest to drag compressor around ,somthey all do a bit of something , so much easier it jump off one onto another than time dropping hedge cutter or sprayer offHow many tractors in the working fleet?
One of my boys plays it on the iPad, drives me mad.I saw a friend playing Farm Simulator. I asked how big his loss was and he replied that he was in profit. I then realised it was only a game.
I’ve formed a limited company and put all the machinery in as a directors loan , so I can legally take it out of the company tax free to pay me back the loan. A legal loophole , I’ve no intention of paying a heap of tax.might not be so good once the tax man gets his nose in to the written down values
good and i hope it works for youI’ve formed a limited company and put all the machinery in as a directors loan , so I can legally take it out of the company tax free to pay me back the loan. A legal loophole , I’ve no intention of paying a heap of tax.
So the company makes a massive loss of £90k when £100K of machinery is worth £10k, and pays you back the £100k... then what happens?I’ve formed a limited company and put all the machinery in as a directors loan , so I can legally take it out of the company tax free to pay me back the loan. A legal loophole , I’ve no intention of paying a heap of tax.
The company makes no loss , I’ve given a directors loan of €700 k to the company , the company pays that back to me tax free . I didn’t make the rules but that’s the way it works here.So the company makes a massive loss of £90k when £100K of machinery is worth £10k, and pays you back the £100k... then what happens?
Still puzzled??, you could give me the £700k and I will give you it back... its tax free to both of us... but if i bought some Fendts and lost half of it, i would be £350K down and not sure how it helped me?The company makes no loss , I’ve given a directors loan of €700 k to the company , the company pays that back to me tax free . I didn’t make the rules but that’s the way it works here.
Since you have deferred the tax over the years the tax man will take most of it.I’m farming 160 acres and doing hire work, I am delighted to have a shed full of machinery and every year I change or buy extra machines , they all have to pay for themselves . The day I retire I will call an auction of all the machinery , if I did it today I’d have about €7-800,000 worth over what I owe on finance . Won’t be a bad payday.
I think another interesting question could be, how many engine hours a year per acre ?
The directors loan comes out tax free and company tax is only 12% . So 12% is the worst case .Since you have deferred the tax over the years the tax man will take most of it.
It’s ok I’m waiting for the inevitable “well if you went to DD it would be considerably less” type commentDoesn't it depend on how much work is done in house and how much is contracted out?
You may only have 100hp but a large contracting bill?
Total power cost per acre/litre/ton/kg of meat is more of a comparison.
365hp over 450 acres. Pit silage,raking and slurry tanking is done by contractors