Up to 20 people can form a Partnership and therefore share the costs and profit from any winnings. Vat is also recoverable through Weatherbys vat services. This is a very popular way for a group of friends to become involved. Two partners need to be registered owners with the others being registered as non nominated partners. The Partnership can choose the horse's name if you choose an unraced horse and additionally you select the colours you wish your horses to race in along with your partnership name. A Joint Ownership can consist of up to 12 people, all of whom must be registered owners. Separate registration is required for each horse within a joint ownership.
COSTS OF OWNING A RACEHORSE
When you join a partnership, you will be responsible for paying your share of the racehorse. For example if there are ten people in a partnership then you will be responsible for paying ten percent.
Each month you will be sent a training invoice which shows the costs of your horses in detail.
In addition to the training invoice racing expenses for transport and staff at the races are charged out per horse and this is dependent on the race meeting.