Hello from Simon and Caroline. We have a small holding, by which I mean we have the smallest possible herd of cattle (...2). But we have ambition and some knowledge of husbandry (i used to work on a rare breed farm 10 years ago. We have some fantastic friends (about 5 miles away) who have around 80 beef steers and are helping us in terms of land, equipment etc. We have no money to speak of for this, just enough to buy a cow every now and then, and vet bills when they come.
We have a couple of questions and wonder if anyone might be able to help.
I work as a self employed musician and music teacher. My wife is at home with the kids (we homeschool them). Given that we have outgoings at the moment, but no income for a year or so, what is the best business model for us at the moment? It looks to us as though setting up a partnership would be tax efficient as I can offset expenditure against my personal tax as a musician.
Also, when does it make sense to register for VAT? I have read posts on this on the in the AS 'Coffee room' but get a feeling that everyone is much bigger than we are.
Before you ask, we do have an outlet for our beef; selling it, in the quantities we are producing won't be a problem for a long time.
Any advice or tips to these or any other points would be very welcome. We really want to make this work and want to be in it for the long term.
Cheers,
Simon
Topic: Greetings (Read 1973 times)
