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 Ownership News
Click here to go to the ROA website
Vat Scheme (Note to current owners)
Customs and Excise reviewed the VAT Scheme in 2005/6 and have
granted the scheme an extension, with no date currently set
for further review. This scheme is a major benefit to racehorse
owners and it is vitally important for the industry as a whole
that all owners sign up to this scheme. You can register your
racehorse interests for VAT and claim up to the equivalent of
two month’s training fees back per annum.
Please make sure that you or your yard are sponsored and signed
up to the VAT scheme for Racehorse owners. Click
here for more information on the VAT Scheme.
The Bloodstock Industry Code of Practice.
The Code of Practice sets out the principles which apply to
all sales of bloodstock and sales of stallion shares and nominations,
be they private sales or sales at public auction, ensuring that
sales of bloodstock in Britain set and maintain a high standard
of integrity and transparency, which will safeguard the interests
of vendors, consignors, bloodstock agents, owners, trainers
and the sales companies. Click
here for a download of the code.
Dispute Mediation Service
A voluntary dispute resolution scheme (DRS), backed by the ROA
and NTF, is now in operation, allowing owners and trainers who
are prepared to resolve disputes out of court to go for mediation.
In order to take this route, both parties have to be willing
to attend a half-day or day session in London. An up front fee
is payable - based on the complexity of the case, with every
case additionally carrying a minimum administration fee of £150.
Owners interested in the DRS should contact the ROA office,
while trainers should contact the NTF.
HRA TRAINERS CODE OF CONDUCT
APPENDIX V UNDER THE ORDERS & RULES OF RACING
The Horseracing Regulatory Authority have introduced new measures
designed to be of significant benefit to the interests of both
racehorse owners and trainers. A Code of Conduct for trainers
which outlines the minimum standards the HRA expects of them
with regard to their dealings with owners. It is hoped that
the initiative will increase the retention of existing owners
and also make the sport more attractive to potential investors.
Notes regarding the Code of Conduct
- In short, the Code of Conduct is intended to prevent
misunderstandings between owners and trainers, in particular,
in relation to the dissatisfaction that can occur as a consequence
of the purchase or sale of horses, for example arising from
undisclosed commissions or other financial interests.
- The Code also makes it clear that the trainer must inform
the owner promptly of any injury which will require a prolonged
period of box rest for the horse.
- Other areas covered include the entering of horses into
selling and claiming races, as well as for sale at public
auction
- In all cases it will be the responsibility of the owner
to make a complaint to the HRA if they feel a breach of
the Code of Conduct has occurred.
- Copies of the full wording of the Code of Conduct and
the requirements of Training Agreements are available on
request from the HRA Press Office. They are also reproduced
in full on the HRA website and are included in the Rule
book.
Below are other industry bodies that you may find useful as an existing owner:
Racehorse owners Association (ROA)
Fifth Floor
60 St James's Street
London
SW1A 1LE
Tel: 0207 4080903
Fax: 0207 4081662
Email: info@roa.co.uk
www.racehorseowners.net
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National Trainers Federation (NTF)
9 High Street
Lambourn
Berkshire
RG17 8XN
Tel: 01488 71719
Fax: 01488 73005
Email: info@racehorsetrainers.org
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Weatherbys Group Ltd.
Sanders Road
Wellingborough
Northants
NN8 4BX
Tel: 01933 440077 Fax: 01933 440807
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Departments including:
Registration of colours/ horse/ owner
VAT helpdesk
Owners Helpdesk
Email: email@weatherbys-group.com
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Ownership
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