Tote supports sponsorship scheme for 2023
The ROA is delighted to announce that we have renewed the Racehorse Owners Sponsorship Scheme with the Tote for 2023. This is the fourth year the Tote has sponsored this scheme, which has evolved into one of our most popular and important owner benefits.
The Tote Racehorse Sponsorship Scheme is offered to the ROA’s membership base and enables owners to register as a business for VAT purposes. This means that owners can reclaim VAT on their racing activities, as well as on the purchase price of their horse. The Tote gives members an annual sponsorship payment of £100 to each horse for joining the Scheme and wearing the logos. The whole scheme benefits owners to the tune of £7.5m a year in reclaimed VAT.
The Tote have agreed to support owners by continuing to fund the Scheme which will see ROA owners continue to carry Tote logos on their silks. For 2023 Tote has launched a new range of logos to be carried on owners’ silks highlighting Tote’s most popular bet and its digital platform: TOTE, TOTE PLACEPOT and TOTE.CO.UK. These three logos will be available on a rotational basis as horses join the Scheme.
Charlie Liverton, Chief Executive of the ROA, said: “This agreement is fantastic news for our members. We are delighted to continue working with the team at the Tote to allow owners to benefit from this scheme. Owners collectively spend over £30m a month on training fees and with the financial cost of having a horse in training continuing to rise, it is hugely beneficial for owners to have the ability to reclaim VAT on both the purchase of the horse and the associated training and racing costs”.
Alex Frost, Chief Executive of the UK Tote Group, said: “At a crucial time for British racing, we are as committed as ever to ensuring the Tote maximises the positive contribution it can make to the sport. As an owner and breeder, I know how valuable the Racehorse Owners’ Sponsorship Scheme is and the Tote is delighted to continue to support it. We hope as many owners as possible will choose to benefit from the Scheme and everyone at the Tote is incredibly proud to see our logo carried across owners’ silks throughout the year. We wish every owner a safe and successful 2023.”