Case Study Questions Flashcards
When did the LDT between the two trusts commence, and what was the initial term?
28th May 2003 with an initial term of 25-years
Why did the Rawburn farm manager leave?
The farm manager found a job closer to the village in which he was brought up. This prompted the change in location.
What is Roxburghe Estates long term strategy?
JAAP.
You mention investment into machinery. What machinery?
The current John Deer tractor was due to replaced, as well as the Rawburn quad bike. The two combined would likely see an outlay of £80 - £100k with little trade in.
What grade ground is the in-bye ground at Rawburn?
Predominantly grade 4.1
What are the Scottish land classifications?
National scale land capability for agriculture
1 - Land capable of producing a very wide range of crops.
2 - Land capable of producing a wide range of crops.
3.1 - Land capable of producing consistently high yields of a narrow range of crops and/ or moderate yields of a wider range. Short grass leys are common.
3.2 - Land capable of average production though high yields of barley, oats and grass can be obtained. Grass leys are common.
4.1 - Land capable of producing a narrow range of crops, primarily grassland with short arable breaks of forage crops and cereal.
4.2 - Land capable of producing a narrow range of crops, primarily on grassland with short arable breaks of forage crops.
5.1 - Land capable of use as improved grassland. Few problems with pasture establishment and maintenance and potential high yields.
5.2 - Land capable of use as improved grassland. Few problems with pasture establishment but may be difficult to maintain.
5.3 - Land capable of use as improved grassland. Pasture deteriorates quickly.
6.1 - Land capable of use as rough grazings with a high proportion of palatable plants.
6.2 - Land capable of use as rough grazings with moderate quality plants.
6.3 - Land capable of use as rough grazings with low quality plants.
7 - Land of very limited agricultural value.
Urban
When did the LDT become an MLDT?
30th November 2017
What are the TAX implications relating to the sale of the Rawburn farm stock?
As farm animals are recognised as ‘trading stock’, the proceeds recognised by their sale would be eligible for income tax @ 47%.
Herd basis acts as a tax barrier and sees proceeds of the sale of a whole herd (or significant number) non-taxable. Unfortunately, the stock at Rawburn were not elected for herd basis, and income tax was payable upon sale.
Describe a typical sheep calendar?
November - tups out with breeding ewes
January - scan ewes
February - crutch in-lamb ewes
March/April - lambing
June - shear and treat with a fly repellent
July - wean
August -
What are store lambs?
Lambs not yet ready for slaughter, sold for further fattening.
What are fat lambs?
Lambs sold from farm straight to slaughter. Fat lambs are typically sold at 40-45kg.
