Understanding you

Whichever equestrian discipline you focus on, being able to concentrate on producing your horses or running the business is critical to success. Time is always at a premium so we will work with you to allow you to run your business efficiently.

How can we help you?

Being in a position to make a well informed, quick decision is vital to a successful business, our experts will provide you with timely and constructive advice. 

Our tailored business and tax services for the equestrian and equine industry include:

Case Study

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.

Case Study

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.

Case Study

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.

Case Study

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.