Ed Vaughan, who helped prepare the 2013 Melbourne Cup winner Fiorente for an Australian career, will quit training later in the season.

The UK trainer cited economic concerns as the driving force behind the decision to relinquish his licence.

"I haven't just woken up and decided to do this. It's been on my mind for a while and now seems the right time to finish up training here in the UK," he said.

"As everyone is aware, with the reductions in prize money and the cost of running a business being so high, the economics of training in Britain are not good.

"I'm taking this decision now because I can see things getting worse in the next year."

When Gai Waterhouse purchased Fiorente from leading UK trainer Sir Michael Stoute, she turned to Vaughan to have the stayer ready for a first-up Australian run in the 2012 Melbourne Cup.

Fiorente went close when second to Green Moon before returning to Flemington 12 months later to claim Australia's greatest race.

Vaughan has based a part of his business model on trading horses, in particular to Australia through his association with bloodstock agent Paul Moroney.

"I've trained horses here to continue their careers in places like Australia after putting a European-style base to their training," he said.

"I have a good idea of the type of horse that's required and the level and style of racing you need for various jurisdictions.

"We've also done well selling horses to Hong Kong and America."

Vaughan spent four years in the United States after graduating from the Irish National Stud course and then broke in Dubai Millennium when working for Darley in Ireland.

He served as assistant trainer to dual Cheltenham Gold Cup-winning trainer Noel Chance, before joining the late Alec Stewart in Newmarket.

Following Stewart's death in 2004, Vaughan started training in his own right and he moved to the historic Machell Place Stables at Newmarket in 2011.