In the last of his series of articles based on the book 'Making Profits With Dairy Cows and Quotas', Gordon Throup looks at the ins and outs of retiring from dairy farming. Dairy farming these days is very opportunistic and 1995 would seem to be the year in which the opportunity should be taken to retire from farming, judging by the number of dispersal sales that are taking place at the present time. The high price of milk quota is a major reason for these decisions that have been taken, but farmersneed to beware of the dangers of Capital Gains Tax, particularly in relation to the sale of milk quota. They also need to remember they are not selling the cows on a good market and they could be losing pound 300-400 per head, tax free, if they are on the herd basis, which for a 100 cow herd would be pound 30-40,000.
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