Following continued representations to Her Majesty's Revenue and Customs (HMRC) by the Thoroughbred Industries Brexit Steering Group, a change to customs procedure has been made which will facilitate movement of horses into Britain for breeding and racing.
A new, industry-specific, facilitation has now been agreed by HMRC to the Temporary Admission procedure, allowing intermediaries (such as a transporter or shipper) to apply for an authorisation enabling them to move Thoroughbreds under multiple ownerships, without the need for a financial guarantee. Previously, in the majority of cases, Thoroughbreds entering Great Britain on a temporary basis had to be accompanied by a financial guarantee, equivalent to 20% of its value. The change follows similar procedure enacted by the Irish Revenue for movements of Thoroughbreds into Ireland for racing earlier this year.
Julian Richmond-Watson, Chair of the Thoroughbred Industries Steering Group, said: “The Thoroughbred Industries Brexit Steering Group has been engaging and offering proactive solutions on this matter, which has been causing significant industry concern, in discussions with HM Treasury and HMRC.
“We are therefore very grateful to HMRC for this industry-specific facilitation which recognises both the financial value and importance of international movement of thoroughbreds, and the challenges which the requirement for a guarantee was posing to owners and breeders looking to run their horses or breed them in Great Britain.”
Following Brexit, The Group's overall objective is to secure a settled future framework in which there are reduced administrative burdens on the movement of Thoroughbreds.
“We are committed to improving the situation and delivering a lasting settlement under which movement of Thoroughbreds for international competition and breeding, underpinned by the highest standards of equine health and welfare, is realised,” added Richmond-Watson.
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