Newbie Farmer Questions

sobs

Hi

I inherited a small farm about 10 years ago. Having never really worked on a farm, I thought it would be best to lease it out. There have been 3 tenants since. The current lessee will be leaving the land in a months time and I would like to begin farming it.

I want to get the farm sheep wired and want to know if it is possible to reclaim the vat on the cost of wiring. A neighbor, who is a farmer told me that I could not reclaim the vat as I was a PAYE worker. I work as a full time postman with an post BTW. I have applied and received a flock number from the Dept of agriculture. Does anyone know if I will be entitled to reclaim the vat on the cost of wiring.

Thanks

MDFM

Do you have a VAT number? If you do, then you can claim VAT - but you mentioned you have job - i take it your not on contract but in permanent employment as a paye worker? then, unless you have another income as a self-employed individual, making you own returns, then you have a VAT no??

reilig

sobs wrote: »

Hi

I inherited a small farm about 10 years ago. Having never really worked on a farm, I thought it would be best to lease it out. There have been 3 tenants since. The current lessee will be leaving the land in a months time and I would like to begin farming it.

I want to get the farm sheep wired and want to know if it is possible to reclaim the vat on the cost of wiring. A neighbor, who is a farmer told me that I could not reclaim the vat as I was a PAYE worker. I work as a full time postman with an post BTW. I have applied and received a flock number from the Dept of agriculture. Does anyone know if I will be entitled to reclaim the vat on the cost of wiring.

Thanks

Hey,

Best of luck with your farming venture. You are quite right with your question, you can reclaim the vat on fencing - even if you don't have a vat number.
You can also reclaim vat on new buildings on land drainage and reclaimation. You need to go onto www.revenue.ie and download a form VAT 58, fill it out with your receipts and bob's your uncle.

sobs

Thanks for the comments

I have downloaded the vat form and it looks pretty straight forward. It is a costly job, sheep wiring, so it will help if I can reclaim the vat.

Cheers

reilig

sobs wrote: »

Thanks for the comments

I have downloaded the vat form and it looks pretty straight forward. It is a costly job, sheep wiring, so it will help if I can reclaim the vat.

Cheers

I have a bit of fencing to do myself , but I think I will wait until after christmas. I heard on the grapevine that the price of steel will be well down by January because of poor demand for it. I will probably get a contractor to do it - and I suspect by then they will be keenly priced. Not much industrial or domestic fencing happening at the moment.

il gatto

Check out your local farm relief office. They are very reasonably priced, and you know the lads doing the work are getting a fair wage for their time. They rattle through the fencing fairly quickly.