Invaluable advice on the major direct tax and VAT issues within the Bloodstock industry is contained within the latest edition of the Bloodstock Taxation Guide.
The Guide, last published in 1999, is available for downloading in full from within the Reports section of stage.britishhorseracing.com.
Whilst not intended to provide a definitive answer to every tax query which may arise to both those working within the industry and their professional advisers, the Guide deals with a wide range of subjects, from basic tax principles surrounding bloodstock breeding to the valuation of stallions as stock, and from VAT refund schemes to issues concerning international trade. There is also a chapter dedicated to employee issues.
The Guide was produced by BHB’s Taxation Group, which is Chaired by Donald Adamson, a former Partner at KPMG.
BHB Industry Marketing Manager James Oldring said: “The Guide is intended as a reference tool to help those involved in the Bloodstock industry comply with, and make the most of, the taxation regimes applied to them. I am very grateful to the BHB Taxation Group for all their efforts with this; their work, alongside that of the VAT Working Group, helps enhance further the excellent working relationship that the industry enjoys with HM Revenue & Customs.”