Before you register your ownership you will need to decide what sort of ownership you intend to embark upon.
You will own 100% of the horse and it will run in your name and in your colours. Any costs or profits will be yours alone.
Owners that secure sponsorship for their horses can register for and reclaim VAT on training costs. If 100% of a horse is owned by a Racehorse Owners Association (ROA) member then the ROA will arrange sponsorship of your horse allowing you to reclaim £000's per year.
This form of ownership can consist of between 2 and 12 individuals. Each person will need to be a registered owner. The percentage of the horse(s) owned will be registered against each individual's name. The horse(s) can run in either a joint ownership's name or in the name of one of the owners.
If you are part of a Joint Ownership and a ROA member then you will automatically be covered by their Third-Party Liability Insurance for your share of the horse(s) owned.
A partnership or syndicate can consist of any number of individuals of which at least 2 must become, or already be, registered owners. The two registered owners will be known as the Nominated Partners or Syndicators and they will be responsible for the administration for the partnership.
If you are one of the two Nominated Partners/Syndicators and you join the ROA, you may be eligible to join the Racecourse Badge Scheme for Owners which allows free entry to over 1,200 fixtures each year.
The horse will be in the sole ownership of the company and the company's shareholders. The company must appoint a Registered Agent to act on its behalf.
If your horse is registered in your Company's name it may still be beneficial for the Company to join the ROA so that you benefit from a 20% discount on registration fees. If a Company joins the ROA this still counts as one membership and you will receive one of every benefit of membership.
Leasing involves ownership of a racehorse for a set period of time. Costs that the horse incurs become the responsibility of the lessee for the lease period and in return the horse will run under the ownership of the lessee.
At the end of the lease agreement, the ownership of the horse returns to the lessor/the legal owner.
It is important that an agreement is made between the lessor and lessee with regard to the lease period, prize money split if any, and any exceptional costs that may remain the lessor’s during the period.
If you would like to be involved in ownership but leave all the administration to someone else, then why not consider the Neil Mulholland Racing Club. Full details can be found on the racing club page.
All fees are subject to VAT