The Tote and Britbet have partnered to sponsor the Racehorse Owners Sponsorship Scheme from Jan. 1. Under the scheme, members of the Racehorse Owners' Association can register as a business for VAT purposes and can thus reclaim VAT on their racing activities as well as on the purchase price of horses. The scheme's beneficiaries have claimed back an estimated £6-million annually since 2004.
Charlie Liverton, Chief Executive of the ROA, said, “This agreement is fantastic news for racehorse owners, and we extend our gratitude to the new team at the Tote and Britbet and their racecourse partners for coming together to support this important scheme. We were keen that a new sponsor was from within the racing family and are pleased to be working with Britbet and the Tote as they develop the pool betting experience for racing fans.
“With the number of horses in training remaining under pressure, this is a vital mechanism and the fact that Tote and Britbet have committed to support the scheme secures its future.”
Not a subscriber? Click here to sign up for the daily PDF or alerts.
