Types of racehorse ownership
Sole ownership
Sole ownership – owning a whole horse – is the simplest way of getting involved with racing. As the sole owner, you're responsible for all the expenses associated with owning a horse – but you also receive all the benefits, from selecting your horse and choosing his name to designing your own racing colours. When your horse runs, you'll go racing with complimentary badges for you and your guests. If your horse wins, you'll meet him in the winner's enclosure and receive the trophy and prize money for his efforts. And if your horse is sold, you'll receive the profit from his sale, tax free.
Racing partnership
In a racing partnership, up to 20 partners jointly own the horse – reducing the cost per head to a very affordable level. At least two members of the partnership must provide their details to the Jockey Club, and one of these partners will deal with the partnership's financial matters. These nominated members also act as coordinators for the partnership.
Partnerships are entitled to choose their horse's name and the partnership colours, and complimentary raceday badges are also available when the horse runs. The partnership can also name itself – based on the names of the partners if there are fewer than four, or with another name – such as John Best Racing's 'Heading For The Rocks' partnership. Prize money is shared between the partners, and as with sole ownership, any profit from the sale of the horse is tax free.
Find out about John Best's innovative Hucking Horses partnership >
Racing clubs
Racing clubs or syndicates offer a range of lower-cost options for you to get involved with racing. The exact terms vary from club to club.
Company ownership
With company ownership, the company's shareholders own the horse. All the expenses associated with the horse's training and racing are paid out of the company's pre-tax income. The horse can even be named after the company if the name hasn't been used before!
However, if the horse is successful, the profit from his sale is subject to tax.
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