Author Topic: Get on NOW  (Read 1009 times)

Offline john m

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Get on NOW
« on: January 15, 2021, 08:48:54 am »
Have an anty Post Bet at Cheltenham Today .News just broke that if  Irish horse going to Cheltenham worth  lets say 500,ooo the owner must pay VAT on the value of the Horse he gets it back 3 months later as long as the horse travels back to ireland .So there wont be a lot of Irish horses from small owners traveling to England .If I was betting in any of the Handicaps at Cheltenham I would be backing British Horses E/W You might be able to get four places but the fields could be smaller than normal .

https://www.racingpost.com/news/?authme
« Last Edit: January 15, 2021, 09:03:55 am by john m »

Offline john m

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Re: Get on NOW
« Reply #1 on: January 15, 2021, 10:13:20 am »
Keep an eye on Irish trained runners in England .If you have to pay the VAT to race you would really want to fancy the horse .

Offline john m

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Re: Get on NOW
« Reply #2 on: January 15, 2021, 10:43:23 am »
Having looked at Cheltenham .Paddy Power are betting money back if your horse dosent run .Taking into account that Irish trainers will have to pay VAT to bring horses over only our good ones will travel .So I have one for you to back no run money back its in the Foxhunters Chase ,most foxhunters are not owned by wealthy owners so most Irish Hunters wont travel and English hunters are usually a poor lot .Billaway @4/1 .I think if he runs he will be about a 6/4 shot .

An added bonus with this horse .English point to point racing is cancelled so english hunters wont have raced .This horse is trained by Williy Mullins .
« Last Edit: January 15, 2021, 11:03:11 am by john m »

Offline Rat Catcher

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Re: Get on NOW
« Reply #3 on: January 15, 2021, 12:18:50 pm »
Will the English soccer teams have to pay VAT on players travelling to Europe to compete?

Offline john m

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Re: Get on NOW
« Reply #4 on: January 15, 2021, 12:30:33 pm »
Will the English soccer teams have to pay VAT on players travelling to Europe to compete?

Interesting but possibly racist .Think of the poor Bolivian Center Back having to be appraised by his Director of Football possibly even weighed to be valued by the Kilo .Then as he ages and his value drops his English team mates s[]ing at him thinking they are better than Jonny Foreigner .That would be Brexit in a Nutshell .

If you have to pay VAT on Horses would European Whores have to pay VAT on their British Earnings ?

Offline markmiwurdz

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Re: Get on NOW
« Reply #5 on: January 15, 2021, 01:03:10 pm »
Keep an eye on Irish trained runners in England .If you have to pay the VAT to race you would really want to fancy the horse .

You get it back eventually but you have to find a chunk of change from somewhere alright,another brexit spin off.

Offline john m

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Re: Get on NOW
« Reply #6 on: January 15, 2021, 01:25:03 pm »
WORLDS BIGGEST BOOKIE HAS A £50 limit .

Offline Punter

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Re: Get on NOW
« Reply #7 on: January 15, 2021, 06:26:47 pm »
Item on 6.1 news--Willie says there will be no requirement for VAT  -

Offline john m

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Re: Get on NOW
« Reply #8 on: January 15, 2021, 10:46:14 pm »
Racing Post this Morning said Willy Said now the Irish Field says ....THE view that Irish racehorse owners and trainers will face a Herculean task in sending runners to Britain from now on has been rubbished by Willie Mullins, who says his team has managed to dispatch a horse to Market Rasen today without any fuss.

Grangee will be the first Irish-trained runner in Britain since the end of the Brexit transition period and therefore the journey involves leaving and re-entering the European Union. Next week’s edition of The Irish Field will carry details of the process involved but on Friday Mullins reported that it had gone smoothly so far.

There were – and still are – fears that every movement of horses between Ireland and Britain (in either direction) is now liable to Value Added Tax (VAT). Some tax experts have said that even if the horse is only travelling for a race or to be covered, VAT must be paid on entry – in case the horse is actually being sold and moved permanently – and the VAT can be reclaimed once the animal returns to its original country.

This would potentially involve millions having to be lodged with revenue commissioners ahead of major racing festivals and the breeding season. Getting clearance for youngstock heading to the sales in Britain would be even more complicated.

However, Mullins said his experience so far was good. “There were no problems and no VAT implications in the end. You can send a horse over to race on a temporary admission document. You need to organise the health certificate in advance – the Department of Agriculture needs five days’ notice - and it’s important to use an experienced transport company, but it was much simpler in practice than I had been led to believe.

“Everyone was saying it was near impossible, so I just said to my office team ‘go ahead and do it’. There were no hold-ups, once we did the paperwork. As far as I’m concerned, we’re all good for Cheltenham.”

His view was backed up by Ciara Dillon of leading accountancy firm BDO Ireland who said: “With regard to the UK import VAT issue that has arisen on bringing Irish horses to Britain for racing, I have been speaking with BDO Ireland and understand that there is a solution (i.e. temporary admission procedure) such that no VAT cost should arise. The BDO Brexit team are working with the industry to help them ensure they have right procedures in place.”

However, a senior industry figure warned against any early celebrations. “It’s a learning process. My understanding is that sending a horse to Britain, even temporarily, is still deemed to be a VAT event. It remains to be seen how the UK and Irish authorities will interpret that. The problem arises if, for some reason, the horse did not come back. This weekend’s Irish runner in Britain will tell us something but it is the sales which will be the most complicated.”

Ann Munnelly of BBA Ireland said: “We haven’t moved any horses yet but it will be nothing like it was before, either logistically or cost-wise.” She recommended that horse owners engage the services of a trusted shipping specialist when sending horses to Britain and start the process at least five working days ahead of the intended departure date.

IN THE IRISH FIELD THIS WEEKEND

Offline john m

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Re: Get on NOW
« Reply #9 on: January 16, 2021, 09:37:34 am »
Grangee in the 3.15 @Market Rasen is the Horse Willie Mullins was willing to pay VAT on to send to race in England when he thought he had to pay VAT .That could be a clue to how good he thinks this horse might be 13/8 with Powers 5/2 last night with other bookies .

Offline watty

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Re: Get on NOW
« Reply #10 on: January 16, 2021, 05:35:26 pm »
https://www.racingpost.com/results/35/market-rasen/2021-01-16/773837

Looks like it came 3rd to win stg£2k.  Hardly seems worth it? 

Offline markmiwurdz

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Re: Get on NOW
« Reply #11 on: January 16, 2021, 05:41:14 pm »
Winner looks like a decent animal,Mullins yak looked very one paced.

Offline Punter

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Re: Get on NOW
« Reply #12 on: January 16, 2021, 06:55:41 pm »
He now has a mark to judge those at home against --which was probably the thought behind expedition  !

Offline john m

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Re: Get on NOW
« Reply #13 on: January 16, 2021, 08:02:03 pm »
I didnt back it when I saw the Price I missed the 5/2 .Have the UK banned Amateur Riders all the bumpers today were ridden by Professional Drivers .Are they trying to get jobs for the Pros?

Offline Punter

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Re: Get on NOW
« Reply #14 on: January 16, 2021, 08:53:40 pm »
They have banned all point to points also--no amateur sport permitted !

 


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