Farrier's annual income

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perryhillbay

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I was googling what a UK farriers annual income is last night, and I found something saying that a qualified farrier earns around £16000 per year, but an experienced farrier could earn up to £30000. wtf? Surely they are earn waaaaaaay more than that?

My old farrier I'm sure had a portfolio of 15 houses and was going balls-out ot be able to retire and live off the income from these houses at 35. When I say that, I mean that he worked LONG hours and put a lot of effort in, but still must have been raking it in.

Does anyone have an idea? I would have put a farrier on more like £60k per year, maybe more, depending on the amount of clients?
 
Hmmm I guess it depends - you have to remember the outgoings too - the van, tools, equipment, bad payers, insurance, do they pay assisstants/apprentices etc. My farrier was telling me at the weekend that he went 50 miles out of his way to his furthest away client just to knock a shoe back on for £15. The trip there and back, plus putting the shoe on took him almost 3hrs. BUT then you have the fact he was at mine for three hours, did one set and loads of trims, and walked away with nearly £200. I guess it's swings and roundabouts. I probably would have put them on 40-50k before tax and expenses.
 
Im not sure but i reakon a lot more than 30k! I even think more than 60k!

Ive just worked out roughly what my farrier would be on if he does as much work as he say's he does! He would get well over the 100k mark!
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Remember thats a gross income....when my OH was self-emp-loyed people thought he was loaded....but as someone says you have to deduct tax, NI,insurance...tools, nails,shoes,van diesel, van insurance and upkeep, accountants fees, pension. etc etc etc.

What you pay him for his work doesnt all end up in his pocket. .....
 
Yeah, I'm sure their over-heads for fuel etc. would be plenty, but surely they can claim for tax-relief for that through the business?

I'm just being nosy really, although, I don't think I've ever met a hard-up farrier!! LOL
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Also remember it is knackering on the back, so anything they make will have to include some money set aside for when they can't work anymore.
 
I think they deserve a good income they are highly skilled its also hard work if its 50k or more great would say they are worth it if the goverment sorry tax payer can pay nearly 10 million to that RBS boss its mad what some people are paid and are useless at what they do ,, a farrier would last how long if he was crap??
 
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Yeah, I'm sure their over-heads for fuel etc. would be plenty, but surely they can claim for tax-relief for that through the business?

I'm just being nosy really, although, I don't think I've ever met a hard-up farrier!! LOL
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me neither lol!

You can claim a certain amount back on tax for fuel and depreciation on the van and tools, but its not great.

PS my OH wasn't a farrier unfortunately- that would have been vv useful
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I'm a self employed plumber gas fitter, people think we make lots, well lots has to be spent on running everything so it's not as brill as it sounds.
 
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I think they deserve a good income they are highly skilled its also hard work if its 50k or more great would say they are worth it if the goverment sorry tax payer can pay nearly 10 million to that RBS boss its mad what some people are paid and are useless at what they do ,, a farrier would last how long if he was crap??

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Dead right.
 
That is probably the amount they are declaring
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You are not telling me that every trim they do with no overheads is put through the books?
I say no overheads meaning that they are not using shoes which they have to account for.
 
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Im sure they earn a lot more than that most are VAT registered so they are earning over £70000 a year (you can VAT register under that but most dont tend to)

[/ QUOTE ]No, the vat threshold is based on income before the deduction of outgoings,so the 70,000 is not earnings.I dont think it is nearly as lucrative a job ,as people immagine. My horse Lance was difficult to shoe,yet the farrier said he was nowhere near as bad as some he did. He was big and very powerfull,and a "shiverer". He was quite capable of scooping up the farrier with a back leg ,and flinging him across the yard(and unfortunately did so on one occasion). I think farriers earn every penny they get,and good luck to them
 
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Im sure they earn a lot more than that most are VAT registered so they are earning over £70000 a year (you can VAT register under that but most dont tend to)

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Vat registation is based on turnover not earnings...
 
i don't think anyone is saying farrier's don't deserve the money they earn...

all of the farriers i know are very well off, and even after all costs have been deducted they are still earning a huge amount.
 
By "earnings" i meant turnover no need to get so defensive about it ..jeez...

If the farrier is a good one they get well over £70000 turnover my farrier is nearing £200000 turnover
 
Right. upir farrier probably takes home around 15-30k in his own pocket depending on their workload, milage, and overhead costs.

I will give here a very basic break down using some generalisations (i have excluded trims for this breakdown)

Say your farrier charges £50 for a set of shoes(so i dont have to add VAT to this). And he or she shoes 6 horses in a day taking roughly an hour per horse so thats six hours of work and probably as much as two hours spent travelling between the clients. so this becomes 66k turnover. I have done this on an 11month basis to allow for holidays etc. Of course we dont work we dont earn.

Now for expenses
liability insurance is about£ 300-350
a pair of shoes is anywhere between £2-5
Tools are around £80-100 per tool and are replaced 1-2yearly depending on care and quality.
Rasps cost about £10 per rasp and last a few days to a week
Nails cost around £100 pounds for a case
Gas to heat the shoes is £15 per bottle and i use at least two per month
My truck costs me £400 a month on repayments but of course once its paid off those payments stop
my insurance for my truck is £600 per anum
An anvil/forge etc cost around £400-500 for both
CPD (continuous professional development) for the minimum ten points a year is £250plus
Fuel costs around 3-5k per year depending on mileage done. My truck does 300-400miles per tank at £60-70 to fill her up each time
My chiro appt each month costs me £30
New tyres are £100per tyre
And of course then there is professional insurance, Work clothing, protective gear, boots etc


I dont really have time for anymore, but i would say that for the single man band 15-30k take home is probably correct. and of course we then pay tax on that.

I would say that for most farrier they are closer to the 30k plus.

For a more comprehensive (although done in US dollars) please read this article: http://www.horseshoes.com/advice/raymillr/tctofsna.htm
 
I think farriery is bl**dy hard work and takes a lot of skill and patience and they deserve a good return. But I cannot believe a good established farrier takes home less than £30,000 a year after expenses. All the ones I know live in large fancy homes and go abroad a lot and have sailing boats etc. None of which I can afford (mainly because I have got a horse with expensive shoes
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Last time I paid about £50 for a set of shoes was 10 years ago!! Now between £75 for an ordinary set and £117 pounds for mine minimum as he has remedial shoeing.
 
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By "earnings" i meant turnover no need to get so defensive about it ..jeez...

If the farrier is a good one they get well over £70000 turnover my farrier is nearing £200000 turnover

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Jesus!!! How many does your farrier shoe a day!!
 
my farrier shoes far more than 6 a day... particularly as he does a lot of work for big yards where they line up a conveyor belt for him!
 
Hi I can tell you that being married to a farrier it is darned hard work for the reward. It's long hours and lots of mileage. Any farrier is limited to the number he can shoe in a day if he does them well even if they are in the same yard. It's physically too tiring to do a dozen a day!!! Don't believe otherwise. The there are all the cancellations on the day or the day before because the horse doesn't ned shoeing. Believe me it's not a job for the faint hearted. You have to be very dedicated and there is as with any self employed no holiday pay, no sick pay (unless you pay for very expensive insurance). It doesn't pay as well as you think unless you employ a bank of apprentices.
 
But, how much of their income is declared?,
i have always paid our farrier in cash and i would bet that a good chunk of his customers do too
 
The Inland Revenue are very hot on the "cash payment" trades these days and have been having a blitz on undeclared income. I expect that many farriers declare a far higher proporation of their income than in times gone past.
 
The tax office are not stupid you know they know exactly what a farrier can earn solo or what they can earn with an apprentice. Just because they are paid cash means nothing - the overheads need to be met. The big department stores take cash all the time - do you think they pocket this cash??
 
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The tax office are not stupid you know they know exactly what a farrier can earn solo or what they can earn with an apprentice. Just because they are paid cash means nothing - the overheads need to be met. The big department stores take cash all the time - do you think they pocket this cash??

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Exactly this.

I would not NOT declare my income because the tax man would have me for it... like a proverbial ton of bricks. they are not stupid and neither am i.
I mainly get paid in cash. It makes no difference.
 
your talking crap...

Unles your farrier hve 4 or 5 lads and it making em do 20 sets a day.. in which case hes a bad farrier and a bad boss..

About 30k is the mark i would say.. Going up to probably 50k If hed got a coupld of good apprentises..

Lou x
 
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