Charlie Parker is new ROA President Charlie Parker will succeed Nicholas Cooper as ROA President with effect from June 30. Confirmation of the election in March will see Parker serve a three-year term as President, which follows two three-year terms after election to the ROA board in 2015. He has been closely involved with the work of the ROA business as Chairman of the Membership Committee and a member of the Audit Committee. On his appointment Parker said: “I am honoured to have been elected as President of the ROA by my colleagues on the board. “The ROA is a vital component within the British horseracing industry and I am determined to continue the outstanding work of Nicholas Cooper in not only keeping owners at the forefront of discussions and decision making, but also to help the wider industry bodies face up to the enormous challenges that we will face over the coming months.” Chris Wright was elected last year for a three-year term as Vice-President. The board recognised the contribution of Nicholas Cooper during his four-year term as President, which was extended
REGISTER FOR UK VAT It is now more important than ever to ensure that you are registered for UK VAT and reclaiming your VAT back under the ROA’s scheme. In this unprecedented time, it’s important to know that the VAT scheme can save you approximately £4,000 per horse per year excluding the VAT that can be reclaimed on the original purchase price of your racehorse. The scheme was introduced in March 1993 and enables racehorse owners to recover UK VAT incurred on their racing expenses e.g. training fees, vets’ fees, keep fees, transport costs, 10% of your mobile phone and telephone bill. To qualify you must be a registered owner with the BHA, have a horse in training and have a valid sponsorship contract registered with the BHA. As a member of the ROA you automatically qualify to join our sponsorship scheme, which is run in partnership with the Tote. Owners’ silks sport a Tote logo and
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industry and the ROA has made significant strides during that time.”
ROA board election and AGM
Charlie Parker: term as ROA President begins on June 30
by one year. Chief Executive Charlie Liverton said: “On behalf of the ROA board I would like to convey thanks and gratitude to Nicholas Cooper for his contribution to the board over the past seven years, and for his commitment over the past four years as ROA President. “His leadership has been a constant during a period of evolution for the
annually owners receive £100 plus VAT once registered with HMRC. For further details please email info@roa.co.uk. Even if you own a share of less than 50%, you may be eligible to register for UK VAT with the other partners to validate a VAT registration of 50% or above – again if you have any questions please contact the ROA team at info@roa.co.uk. Once registered, each owner submits quarterly VAT returns to HMRC, including all racing related income and expenditure. You can also continue to recover your racing related VAT when your racehorse is at rest, providing you intend to re-enter your horse into training the next season. If you decide to retire your horse from racing, and recovered the VAT on the original purchase, then you will need to value the horse and declare the VAT to HMRC on this value at the point of retirement. If you decide to sell your racehorse please ensure you bill the purchaser with VAT and include your UK VAT number on any sales entries and invoices. If you forget to do this then the sales value could be deemed as VAT inclusive by HMRC.
Members showed significant interest in standing for election to the ROA board this year, with 15 candidates contesting three places. Members are being sent details of voting, which will be available online for the first time this year. The 15 candidates standing this year are: Mark Albon, Donald Clark, John Corsan, Simon Double, Colleen Ford-Ellis, Edward Goodwin, Amanda HamiltonFairley, Sam Hoskins (re-standing), Gay Kelleway, Mary Philpott, Ged Shields, Alan Spence (re-standing), Graham Triefus, Martin Warren and Randy Weeks. New for this year, a security code will be sent by post to members, inviting them to vote online. Where we don’t hold an email address, voting details will be sent by post. To register your email address please email info@roa.co.uk. The ROA AGM, which was scheduled to take place at York on June 30, has now been changed to an online event. Further details will be announced in due course.
HMRC now operates a making tax digital platform, and currently only VAT registrations above the HMRC VAT threshold (more than £85,000) must comply – however, the likelihood is that this will be extended to all VAT registrations in the future, and therefore it is worth looking at and researching digital packages to submit your quarterly VAT returns seamlessly. Details of online packages can be found at https://www.roa.co.uk/ resource/help/mtd.html
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