one of its investors and to work in partnership with the organisation which presents thousands of racehorse owners in the UK.
Since 2020, the Tote has sponsored the ROA/Tote Racehorse Owner Sponsorship Scheme. This important scheme enables ROA members to recover VAT on racing-related expenditure, putting many millions of pounds back into British racing each year.
On behalf of the Racehorse Owners Association (ROA) and our fellow stakeholders across the sport, thank you for choosing to be part of British racing. Your support as an owner is not just valued – it is essential to the future of our sport.
Racehorse owners are the backbone of British racing. Whether you are taking your first step into ownership, returning after a break, or expanding your involvement, the ROA is here to support, guide and represent you. We understand that every ownership journey is unique and every owner plays a vital role in securing the future of this remarkable industry.
British racing can initially seem like a world of costs, acronyms, and complex stakeholders, but it’s so much more than that. This is a global sport, rich in history and heritage and offering an experience other sports are unable to rival.
With this guide, and the support of the ROA, you’ll be equipped to navigate the world of British racing with confidence.
As the Owners’ Stakeholder we’re here to make sure that as an owner you are recognised, supported and rewarded throughout your journey. Furthermore, as a shareholder in the British Horseracing Authority (BHA), we work to keep owners – the sport’s key contributor – front and centre in every decision and objective. We ensure your voice is heard, your interests protected, and with the added benefits of our ROA membership, we strive to enhance your ownership experience at every step.
We are here to help – on course, online or at the end of a phone, whenever you need guidance, advocacy, or simply someone to answer a question.
Welcome once again, and good luck in your ownership journey. We look forward to supporting you every step of the way.
Louise Norman Chief Executive Officer, Racehorse Owners Association
Owning a racehorse – a unique journey of passion, connection, and unforgettable raceday moments.
Racehorse ownership in Great Britain (GB) blends tradition, accessibility, and evolving trends. Owning a racehorse elevates your engagement with horseracing, turning interest into an immersive experience. As an owner, you step closer to the heart of the sport, gaining access to the racing world and witnessing the dedication behind every stride.
The journey of ownership is captivating — from selecting a promising horse to the thrill of raceday, where anticipation and excitement peak. Each step unveils a new chapter, deepening your connection to the sport.
Beyond the racetrack, ownership fosters connections and friendships. You’ll bond with trainers, stable staff and fellow owners, becoming part of a community united by a shared passion. Horseracing invites you to move beyond being a spectator and become part of the sport.
♦ Great Britain has over 14,000 racehorse owners, from syndicates to individuals.
♦ Maintaining a racehorse varies in cost, but syndicates offer accessible entry points.
♦ Owners receive the majority share of prize-money, enhancing the thrill of each race.
♦ Horseracing is the UK’s second most popular spectator sport, offering a vibrant social scene.
♦ Ownership grants access to exclusive raceday experiences and behind-the-scenes insights.
The ROA is here to help you on your exciting journey into racehorse ownership. Our experienced and dedicated team is ready to assist you in all aspects involved in the sport.
Discover the ownership model that suits you best as you embark on your journey into racehorse ownership in Great Britain.
You are the sole owner, registering in your name and colours. All costs and the majority of prize-money are yours alone, giving you complete control over the horse’s racing career.
The horse is owned by a company and its shareholders, running under the company’s name. Bills are paid by the company, but tax implications may apply. Review the Bloodstock Taxation Guide for details
Share the thrill and costs of ownership with other owners, each with a defined share. All members are registered owners, with costs and prize-money divided based on ownership percentage.
Shared ownership between its members, managed by a Syndicator. Only the Syndicator registers as an owner, handling finances and administration. To benefit from ROA third-party liability cover, each syndicate member will need to be an ROA member.
Pay a subscription to be part of the Club and to enjoy some of the benefits of racehorse ownership without the financial responsibility.
Choose the best fit for you between sole ownership, company ownership, partnership, syndicate and racing club.
Design and then register your racing colours online via the BHA or Racing Admin System
Easily manage fees and prize-money with a BHA Direct Debit or Weatherbys account – contact the ROA for expert guidance.
Register with the British Horseracing Authority (BHA) as a racehorse owner.
Budget, location, and form matter. Online tools can help you choose the best trainer for your needs.
Explore trainers, agents, auction houses (eg Goffs & Tattersalls), claiming races, or online platforms.
After purchase, register your horse with the BHA to confirm its name, ownership, and eligibility to race.
Check in with your trainer to assess your horse’s readiness and have them identify suitable races for your horse.
Once a horse is entered and declared for a race, the trainer typically books the jockey, either directly or through a jockey’s agent.
Register for VAT and have a sponsorship agreement in place to reclaim VAT on racing costs. Contact the ROA VAT team for advice.
TRAINING
Ensure you have a training agreement in place. Now it’s time to enjoy the buzz of ownership: from the build-up to raceday itself!
Travel to the course and gain paddock access, raceday hospitality, and experience the thrill of seeing your horse compete.
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The total average cost of owning a racehorse in Great Britain, across both Flat and Jump codes, is estimated at £25,011 per year.
The figure of £25,011 includes VAT and is based on the most reliable data available from the BHA and the ROA, supplemented by insights from ROA VAT clients. It includes typical ownership expenses such as basic training fees (including gallops), keep costs when the horse is not in training, veterinary, medical, and farrier fees, transport and racing expenses, registration fees, jockey fees.
While every ownership experience is different, this estimate offers a realistic benchmark to help new and prospective owners plan financially. It’s important to factor in both fixed and variable costs, as well as the potential for prize-money and resale value.
As a key stakeholder in British racing, the ROA plays a vital role in supporting owners — not only by representing their interests at the highest levels of the sport, but also through practical tools like VAT recovery support, financial guidance, and exclusive member benefits. With the proper guidance and the right support in place, owning a racehorse can be both an emotionally rewarding and fulfilling journey.
Racing finances made simple – choose the right account for your ownership journey.
Under BHA rules, all registered racehorse owners must hold a racing account. This is used to process prize money, registration fees, jockey payments, and other racing-related costs. The ROA highlights two options: the BHA Invoicing Account and the Weatherbys Racing Bank (WRB) Account.
The BHA Invoicing Account is simple and free. Owners receive a monthly statement, with payments collected via Direct Debit on the 15th of each month. However, the account offers limited flexibility— prize money cannot be accessed early and is automatically transferred to the owner’s nominated bank account. No interest is paid on balances.
♦ Free of charge.
♦ Monthly statement issued, with a Direct Debit on the 15th of each month.
♦ No facillity to withdraw prize money early – prize money is automatically paid to the nominated bank account. Typically within 3 weeks.
♦ No interest earned.
By contrast, the Weatherbys Racing Bank Account operates as a full banking service tailored for owners. It offers instant access to funds, the ability to pay trainers and suppliers directly, and includes online/ mobile banking, monthly statements, and potential interest on funds held. Weatherbys charges monthly fees and transaction costs for these services.
♦ A full banking service tailored to owners.
♦ Access funds anytime; make direct payments to trainers, vets, etc.
♦ Offers online/mobile banking, statements, and there is potential for access to deposit accounts.
♦ Charges apply – monthly fees and transaction costs.
In summary, the BHA Invoicing Account is best for those wanting a no-cost, low-maintenance option.
The Weatherbys account is ideal for owners who value financial flexibility, especially those involved in syndicates or managing frequent transactions. The ROA provides clear guidance to help owners choose the account that best suits their racing needs.
Discover how to choose a trainer who aligns with your ownership goals and preferred level of involvement, laying the foundation for clear communication and a successful partnership.
1. Define your goals:
♦ Decide between Flat or Jumps racing.
♦ Establish a realistic budget and targets.
♦ Identify preferred racecourses.
2. Research trainers:
♦ Browse the BHA Licensed Trainer Directory
♦ Visit the National Trainers Federation (NTF) for insights.
♦ Use RacingPost.com to review trainer statistics, form, and horse types.
3. Ask key questions:
♦ How are owners involved in planning and decisions?
♦ Can I visit the yard or attend gallops regularly?
♦ How do you communicate with your owners?
4. Arrange yard visits & assess facilities:
♦ Visit the yard: Schedule visits to meet the team and observe daily operations.
♦ Evaluate communication: Discuss how they update and involve owners.
♦ Inspect facilities: Review the quality of stabling, gallops, and turnout areas.
♦ Watch training sessions: Observe horses in work to gauge training style and attention to detail.
5. Review contracts & terms:
♦ Training agreement: A formal contract outlining responsibilities, authority, and expectations.
♦ Training fees: Understand all monthly costs, including extras like veterinary, farrier, gallops, and transport fees.
♦ Payment structure: Clarify payment frequency and method (monthly, per race, etc.)
♦ Termination clauses: Know the notice period and any financial obligations for ending the agreement.
♦ Communication plan: Agree on how and when you’ll receive updates about your horse.
After clearly defining your goals, researching thoroughly, asking the right questions, visiting yards, and carefully reviewing terms, you’ll be well-prepared to choose a trainer who aligns with your vision.
A strong, communicative relationship with the right trainer will enhance and elevate your ownership experience.
From the planning to the parade ring, raceday is where the magic of ownership truly comes alive.
For most owners, the raceday is the highlight of the ownership experience – a culmination of planning and anticipation to the thrill of watching your horse compete. From the initial conversation with your trainer and the race entry being made, to declarations, studying the going, and assessing the opposition, the excitement steadily builds with each passing day until the horse lines up at the start.
With 59 racecourses across Great Britain, each offering its own atmosphere and facilities, no two raceday experiences are quite the same. Before your horse runs, it’s well worth checking what’s available to owners at that particlar fixture and booking in ahead of the raceday, if need be. The level of provision can vary between tracks and details are typically outlined in a pre-race letter or email from the racecourse.
If anything is unclear, whether it relates to access, dining, badge allocation, or parking, it’s always best to contact the racecourse directly. A quick check in advance ensures you make the most of what should be a memorable and enjoyable day.
The Racehorse Owners Association exists to promote and protect the interests of racehorse owners in Great Britain.
Founded in 1945, the ROA represents and supports racehorse owners across Great Britain. As a key stakeholder in British horseracing, the ROA works to enhance the ownership experience while advocating for owners’ interests. Without owners, there is no racing – a principle that drives our mission.
Not only does the ROA represent its owners at the top table of British horseracing, we also offer a comprehensive range of benefits designed to support and enhance the racehorse ownership experience in Great Britain.
♦ Third-Party Liability Insurance: Automatically protecting owners against claims involving their horses. (T&C’s apply)
♦ 20% Discount on BHA Fees: Members benefit from a 20% discount on annual BHA fees associated with re-registration, such as colours, and more.
♦ Owner-Sponsorship & VAT Reclaim Assistance: Reclaim racing expenses, potentially saving owners thousands of pounds annually.
♦ Racecourse Badge Scheme: Complimentary entry to over 90% of GB race meetings, with guest passes at selected fixtures.
♦ VIP Car Park Label: Convenient raceday parking for ROA members.
♦ Raceday Curtailment Scheme: Coverage for unforeseen disruptions affecting race participation. (T&C’s apply)
♦ Owner Breeder magazine: Monthly publication offering interviews, industry insights and comment.
Racehorse owners can reclaim VAT on racing expenses through the HMRC Racehorse Owners VAT Scheme. To qualify, owners must register with the BHA, have a sponsorship agreement in place, and the racehorse must be officially registered with a trainer.
The ROA/Tote Owner-Sponsorship Scheme helps members gain sponsorship to qualify for VAT reclaims. Eligible horses include those solely owned by ROA members, syndicates with ROA-member managers, and partnerships where all owners are members.
The ROA VAT Solution simplifies the reclaim process, handling VAT registration, HMRC submissions, and refunds directly to the owner’s account. Fees are invoiced after each submission.
Available to members and non-members, the service leverages 20+ years of expertise, maximising returns with minimal hassle. Contact the team at vat@roa.co.uk
Launched in 2019 by the ROA, the Racecourse Accreditation Scheme builds on the long-running ROA Gold Standard to provide a consistent, independent assessment of raceday experience for owners across British racecourses.
Assessments are carried out by AA Hospitality Services, who visit each racecourse annually and score around 38 core areas, including arrival, parking, facilities, viewing, hospitality, and communication. Each racecourse receives a score out of 100.
To receive Accreditation, a racecourse must score at least 70. To achieve the Gold Standard, a venue must:
♦ Score 85+ on the AA assessment.
♦ Achieve an owner feedback average of 4.0+ (out of 5).
♦ Receive at least 40 owner feedback forms in a season.
2024 was a solid year for the programme, with a record 46 racecourses achieving the Gold Standard, up from 31 in 2023. The average accreditation score was 85, and the average owner feedback was 4.4/5. Owners play a central role in shaping results through real-time feedback during and after race days.
Recently, the scheme has refined its approach, reducing the number of questions from 62 to 38 owner-prioritised criteria, with added focus on elements such as seating, post-race experience, and catering.
This scheme empowers owners by putting their experience front and centre while helping racecourses target meaningful improvements. It’s a benchmark of quality and a badge of honour —showing who’s truly delivering for owners.
Owners can submit feedback directly via racecourses or online through the ROA, ensuring their voice shapes the future of UK racing.
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Racehorse ownership is vital to British racing, with owners contributing £500 million annually. In 2025, the industry introduced the Owner Relations team to enhance owner attraction, retention, and recognition, ensuring every ownership experience is rewarding and enjoyable.
The Owner Relations team seeks to actively engage with owners to gather insights, feedback, and address questions. Through direct discussions and wider-reaching surveys, the team aims to shape the future of ownership in British racing.
Owner Relations is not just about addressing immediate concerns; it’s about building a sustainable future. By aligning with broader industry initiatives, the service fosters a cohesive strategy that benefits all owners and strengthens the sport.
The team is eager to hear from you. Whether you have questions, feedback, or ideas, they welcome direct communication. Reach out via email at: info@roa.co.uk to help make racehorse ownership the most rewarding and enjoyable way to be part of British racing.
“I’d recommend it to anyone – get a group of friends together, take some professional advice, go to the sales and buy a yearling. It may not be a world-beater, but you’ll have a lot of fun!” says Stephen Antram, whose ownership journey took off after purchasing Caburn for 24,000 guineas at Tattersalls in 2023.
Partnering with trainer Jack Jones, he sold a 25% share to three friends. Caburn quickly delivered, winning on debut at Salisbury before claiming the £129,000 Weatherbys Super Sprint at Newbury, with the total purse being £250,000. “Winning at Salisbury was so emotional – my wife cried. And at Newbury, I still can’t believe how he got up!” says Antram.
Antram chose Jones after being impressed by his communication and training style. “Jack makes owners feel involved. I get videos from the gallops and visit the yard monthly,” he says. “I didn’t want to be just another small owner in a massive yard. Jack keeps it personal.”
Interestingly, Caburn wasn’t the first choice. “We originally tried to buy another (son of) Twilight Son, but he failed the vetting. Jack went back and
bought Caburn – it was lucky he didn’t sell at the breeze-ups,” Antram recalls.
Caburn’s success has led Antram to expand into breeding. He now owns three broodmares, including Chapelli, in foal to Pinatubo. “If it wasn’t for Caburn, I wouldn’t have ventured into breeding,” he says. “Jack and I both owe a lot to that horse.”
You can enjoy more stories like this in Owner Breeder magazine, delivered to your door every month as part of your ROA membership.
Under BHA rules, racehorse owners are responsible for the care and welfare of their horses after their racing careers end. While many horses retire fit and healthy, ensuring they transition into safe and fulfilling second careers requires thoughtful planning and support.
Retraining of Racehorses (RoR) is the official charity responsible for the welfare of former racehorses in GB. It plays a key role in supporting horses as they transition into second careers, whether in showing, dressage, eventing or as leisure companions. RoR works closely with a network of charitable partners, professional retrainers and owners to uphold high standards of welfare and to promote structured retraining and responsible rehoming.
The ROA is a committed supporter of RoR, contributing over £250,000 each year and playing an active role in shaping its long-term strategy through a seat on the board.
Determining a horse’s suitability for life after racing is a crucial step in the transition process:
♦ RoR’s Retrainer Approval Scheme provides a trusted network of approved professionals who can assess, retrain and rehome horses on behalf of the owner.
♦ In some cases, where a horse’s future is uncertain, RoR’s Retrainer Assessment Programme offers
a structured assessment framework and retraining programme for those horses that meet its criteria. Funded initially by the owner, these assessments help inform the most appropriate next steps—whether retraining, rehoming or, when no other options are viable, making humane decisions in the horse’s best interest.
By supporting owners with practical advice and access to trusted professionals, RoR is working to achieve the best possible outcomes for former racehorses. To discuss the options available for your horse, please contact RoR’s welfare team at welfare@ror.org.uk or call 01488 648998.
Legally, once a horse leaves training, the new owners must update the horse’s passport withing 30 days via Weatherbys.
Additionally, in 2025, RoR and the BHA launched a data-sharing agreement to improve traceability. When a non-racing agreement is signed, RoR invites the owner to complete a short survey confirming the horse’s status and future plans. We encourage all owners to complete the survey if contacted.
The Racehorse Owners Association (ROA) represents racehorse owners in the UK, providing support, resources, and advocacy to enhance ownership experiences and promote the interests of members in British racing.
Find out more at: www.roa.co.uk or call: +44 (0)1183 385680
The Racehorse Syndicates Association (RSA) supports racehorse syndicate owners, offering guidance, resources, and support to promote responsible ownership and a positive experience in British racing.
Find out more at: www.racehorsesyndicates.org or call: +44 (0)1234 567890
The Thoroughbred Breeders’ Association (TBA) champions and supports British Thoroughbred breeders, safeguarding the future of the breed through education, advocacy, welfare, and policy engagement.
Find out more at: www.thetba.co.uk or call: +44 (0)1638 661321
The British Horseracing Authority (BHA) regulates British racing to maintain integrity, fairness, and sustainability, overseeing all aspects of the sport and supporting its development and public trust.
Find out more at: www.britishhorseracing.com or call: +44 (0)20 7152 0000
Racing Welfare (RW) works with the workforce in British racing, offering vital services in mental health, housing, financial aid, and career transition to current and former industry employees.
Find out more at: www.racingwelfare.co.uk or call: +44 (0)800 6300443
Retraining of Racehorses (RoR) assists retired racehorses, promoting new equestrian roles and welfare through rehoming, education, and events to give former racehorses a second chance.
Find out more at: www.ror.org.uk or call: +44 (0)1488 648998
The Racecourse Association (RCA) represents British racecourses, advocating for sustainable growth and industry issues while providing resources to enhance the racing experience and future of the sport.
Find out more at: www.racecourseassociation.co.uk or call: +44 (0)1344 873536
Weatherbys / Racing Bank handles race registrations, programmes, and pre-race data, ensuring smooth operations in British racing through comprehensive data management and administrative services.
Find out more at: www.weatherbys.co.uk or call: +44 (0)1933 440077
The National Trainers Federation (NTF) represents and supports licensed racehorse trainers in Britain, providing legal advice, resources, and advocacy to promote fairness, welfare, and professionalism across the industry.
Find out more at: www.racehorsetrainers.org or call: +44 (0)1635 30307
The Professional Jockeys Association (PJA) advocates for and supports professional jockeys in Britain, safeguarding their interests, welfare, and careers both on and off the racecourse.
Find out more at: www.thepja.co.uk or call: +44 (0)1635 778108
The National Association of Racing Staff (NARS) is the certified trade union that represents stable and racing staff, advocating for fair pay, improved working conditions, welfare support, training, and professional recognition across the industry. Find out more at: www.naors.co.uk or call: +44 (0)1638 663411
We provide confidential, non-judgemental support to all racing industry workers—from recruitment to retirement—o ering expert guidance on physical and mental health, finances, housing, careers, retirement, and addiction to help them thrive in work and life.
