Financial Statements

Notes to the Consolidated Financial Statementsfor the year to 31 December 2008

36. Related party transactions

Transactions between the Company and its subsidiaries, which are related parties, have been eliminated on consolidation and are not disclosed in this note. Transactions between the Group and its joint ventures are disclosed below. Transactions between the Company and its subsidiaries and joint ventures are disclosed in the Company's separate financial statements.

Trading transactions

During the year, Group companies' purchases from joint ventures totalled £8.1m (2007: £21.4m). Purchases were based on open market values.

Remuneration of key management personnel

Details of the remuneration of the Directors and the Group Company Secretary and General Counsel and the President and Chief Executive Officer of Taylor Morrison, Inc., who are the key management personnel of the Group, are contained in the audited part of the Remuneration Report of this report and form part of these financial statements.