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Equine

Whichever equestrian discipline you work in, we know your time is always at a premium. So we’ll work closely with you to find ways to run your business more efficiently and make the best taxation decisions.

We don’t just help prepare your annual accounts; our specialist equine team can provide invaluable advice across a whole range of tax planning issues, as well as well-informed strategic business planning support.

Meet the team

Working together

Our advisers have specialist in-depth knowledge of the equine and equestrian sector and will help you make both the strategic and pragmatic financial decisions you need to achieve your immediate and long-term goals.

We believe professional can be personal: you’ll always find us friendly, easy to get hold of and quick to respond. As well as our day-to-day teams you’ll have access to our senior partners as well to support your personal or business objectives.

How can we help you?

Our services for our Equestrian clients include:

  • Preparation of annual accounts & tax returns
  • Strategic business & tax advice
  • Capital gains tax (CGT) planning
  • Inheritance tax (IHT) planning
  • Consideration of benefits of incorporation
  • Capital allowances
  • Assistance with payroll & PAYE matters
  • VAT advice
  • SDLT advice
  • The tax implications of diversification
  • Trust advice
  • Introductions to other specialist professionals
  • Advice on the choice of accounting software and its operation.

Client story: Dressage training centre

Background: A new client came to us after meeting Lucie at a presentation at Hartpury seeking specialist advice to support their new ideas.

How we helped: We worked with the owner to take the business apart and fully restructure, taking into consideration their growth aspirations. Since coming on board, the business has been able to grow from a ‘small’ to medium-sized business very quickly and can now focus on what they do best. The have achieved the finance they were looking for to build an indoor riding school.

Client story: Eventing/livery yard looking to improve profitability

Background: We were approached by a professional event rider wanting to improve the profitability of their business.

How we helped: We spent time with the owner to get a full understanding of the fixed and variable costs of the business, which lead to a change in the charging structure for both horses kept on livery and syndicate horses. This enabled the owner to make key decisions about the mix of horses to ensure the business grows profitably.

Client story: Competition/stud and livery business breaching VAT registration threshold

Background: A new client came to us as their previous accountant had retired. They had traded around the VAT threshold for a number of years and the business had stagnated, as they were concerned that if they registered for VAT the business would be unviable.

How we helped: After an initial review of the previous accounts and current books and records, we were able to identify significant capital expenditure which would qualify for a full VAT refund on initial registration. Additionally, due to the various different types of supply, some of the income streams would be exempt from VAT. The initial VAT refund was over £20,000 and in nine VAT quarters out of ten the business continues to receive VAT refunds.

Client story: Succession planning for a family farming and equestrian business

Background: A new client wanted guidance on structuring their combined farming and equestrian business activities to allow for succession of the businesses in a tax efficient manner.

How we helped: From a review of the business and asset ownership we identified that both businesses were not always profitable and all the land and buildings were owned by one member of the family. We implemented a structure involving partnerships which allows the flexible use of income profits and losses around the family. The land owning member is an active partner in both partnerships allowing a situation where valuable assets can be gifted to the next generation at the appropriate time without incurring substantial capital gains tax or inheritance tax charges.

Client story: Expert witness and business review for livery yard

Background: Hazlewoods was recommended by another professional services firm that the client was working with; after arranging a meeting, we met with the client in order to construct a business plan to prove the viability of the business.

How we helped: Hazlewoods acted as an expert witness in court and the client was very impressed with how we represented them. Our knowledge of the industry was a real plus in this instance too. As well as acting as an expert witness and producing a business plan, we also reviewed all operations and were able to advise on business grants and how to claim them.

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