Case Study – Kelso Racecourse
May 25, 2023

Case Study – Kelso Racecourse

Kelso Racecourse was built in 1822 by the Duke of Roxburghe, and the original stand is still used today. Located just North of the town of Kelso, this sporting ground attracts large crowds to several race meetings every year and is at the heart of the Scottish Borders community.

In addition to providing standard accounting services for the racecourse over many years, tax planning expert Victoria Ivinson advised the team when they began a premise restyling project. One particular area of tax savings was capital allowances, which are often overlooked or underutilised when tax planning for building refurbishments.

Victoria commented, “We undertook a review of case law to gain an understanding of allowances granted by HMRC for other racecourses. This allowed us to ensure we took advantage of all most recent tax opportunities”.

Managing Director of Kelso Racecourse, Jonathan Garratt, commented, “EQ (formerly Douglas Home & Co) have provided us with excellent service over many years and when we commenced a major project to improve the facilities at the racecourse in 2018 Victoria stepped into offer valuable advice regarding tax relief that has enabled us to get the most out of our money. Everyone that visits the racecourse will have enjoyed some benefit as a result.”

Due to the cutting-edge innovative work done by Jonathan and the team, Victoria recognised the potential to claim Research and Development tax credits. Following a comprehensive report to HMRC, she secured a fantastic result.

Jonathan commented, “While I was aware of Research and Development credits before taking on the role of Managing Director at Kelso Racecourse, it was Victoria who spotted the opportunity for us to claim this tax relief; her close involvement with the racecourse meant that she had a good grasp of the activities we were planning to undertake. We gave Victoria all the relevant figures, and her team did all the rest – the process was really very easy.”

“We have significant plans for future projects to further enhance the racecourse. We note that the Government is introducing new tax incentives to encourage businesses to invest for the future and so we will be consulting with DH&Co to ensure that we take maximum advantage of these. With careful financial and tax planning we believe that we can complete the many improvements we wish to make to the racecourse that will bring lasting benefits for everyone involved in our sport as well as the Scottish Borders community.”

We encourage any businesses who are looking to invest in their infrastructure or who are undertaking innovative work within their sector to speak to our team at the earliest opportunity. This can allow for greater levels of tax relief because we can document the expenses with greater detail from the very beginning to ensure they can spot every tax saving opportunity.

For more information about our services, contact our dedicated team by calling one of our offices.