Bloodstock industry benefits from Streets Bloodstocks’ new Taxation Guide for 2024

The Thoroughbred Breeders’ Association, working with industry specialists Streets Bloodstock, are excited to announce the publication of the 2024 Bloodstock Tax Guide.

This specialist guide has been produced in response to the members of the association seeking advice and guidance on the specific tax implications and treatments for those involved in the sector and in particular breeders. This new guide supersedes the Horseman’s Group guide for bloodstock taxation advice.

Commenting on the launch of the guide, Juliet Frost, Chief Operating Officer with the Thoroughbred Breeders’ Association (TBA) said:

“We are delighted to have worked with Streets Bloodstock Chartered Accountants and tax advisers on producing the guide. Taxation continues to be an important element of all participants in the industry, not least due to the different regimes that apply depending on the status of bloodstock and the structure of ownership.

“We are extremely fortunate and grateful to the team at Streets. This includes Jennie Brown, Rob Skilton, Andrew Cockman, Robert Levitt and Andrew Diplock for their expertise and knowledge in producing the guide, as well as the firm’s Managing Partner Paul Tutin’s support and commitment.  

“We also appreciate the support and contributions from industry colleagues including Peter Mendham, Lifetime Honorary Member of the TBA”

When asked about Streets involvement in the guide, Bloodstock specialist and Partner Andrew Diplock said:

“As sector specialists based in Newmarket, the home of racing, it was an honour to be asked to produce the guide. We sought to provide handy references including details on major direct tax and VAT issues that need to be considered by those working in the industry and their professional advisers. The guide does not seek to provide a definitive answer to every query that may arise. As you might expect we do advocate advice is sought from a professional adviser like Streets Bloodstock before acting on it.”