IF, like many Irish owners you have a horse in training in the UK, then you may not be aware that you could save over £3,700 per year on your UK racing-related expenses.

The Racehorse Owners VAT Scheme enables registered owners to recoup the VAT on their racing expenditure in the UK. This scheme was introduced in 1993 after months of discussion between HM Customs and Excise, now known as HM Revenue & Customs (HMRC), and the UK racing and breeding industry.