Commentary

BB/13A/00 Bloodstock—sale of additional nominations by stallion syndicates

Part V16 Forms and other HMRC material

BB/13A/00 Bloodstock—sale of additional nominations by stallion syndicates

BB/13A/00 Bloodstock—sale of additional nominations by stallion syndicates

Business Brief, Issue 13. 28 September 2000

This Business Brief explains changes to the VAT treatment of additional nominations sold by stallion syndicates. The changes will take effect from 1 November 2000.

Background

When a colt is to become a stallion standing at stud, it is often syndicated, usually into 40 shares. Each share entitles its owner to one nomination. This lets the owner nominate one mare to be covered by the stallion each breeding season. Each syndicate appoints a secretary, usually a bloodstock agency or a firm of solicitors, to deal with its financial

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