Zing
Well-known member
Note it is actually more than 18 months if you haul out and get the haul out time properly recorded.
Used Prices cooling?
- Thread starter Mr Googler
- Start date
gordmac
Well-known member
Not many boats in the CI compared to the EU. My point is simple, if a UK buyer couldn't find what they wanted in the UK they had the option of looking in the EU. Certainly the fall of the pound made pricing higher and transport would be more, but now you need to add 20% and paperwork on top of all that. Prices the EU out of the game unless you are very wealthy!
jrudge
Well-known member
Only if you want to bring it to the uk!
Hurricane
Well-known member
Think of it the other way round.
If you are a UK resident and you want to use your boat in the warmer waters of the Med, you would pay 20% less for a boat that is in the EU because the VAT is already paid.
MapisM
Well-known member
Excuse my French M, but if I were a UK resident, I'd rather be boating in the Med regardless. 
Mr Googler
Well-known member
OK....100k euro boat in the Med is VAT paid......how am I going to buy it 80k euro vat unpaid without being a company and paying £100k euro but then claiming the VAT back.
I’m guessing as a private individual, I would be limited to boats already VAT not paid?
this is not my area of expertise at all so just looking at it from a numpty perspective
I’m guessing as a private individual, I would be limited to boats already VAT not paid?
this is not my area of expertise at all so just looking at it from a numpty perspective
MapisM
Well-known member
Simple, you can't.
That's the wrong question, though.
I'd suggest to ask yourself if that boat ticks your boxes, AND if it's worth 100k to you.
If you answer yes to BOTH , go for her, otherwise keep looking - as simple as that.
VAT is irrelevant, unless you are in the market with the aim of making a business out of buying and selling boats.
In which case, my suggestion would be different - i.e., forget it. But that's a different matter, of course.
gordmac
Well-known member
Obviously when I said UK buyer I wasn't clear enough. I would imagine relatively few boat owners living in the UK will have their boat out with the UK.
Moonstruck
Member
Not sure this is correct. I think there are quite a few U.K. boat owners who keep their boats in EU waters? We certainly do, and there must be several hundred in our marina alone. I think it also depends upon what sort of boat you are looking for or own. If it is say 65‘ plus then it would probably be more likely to be suited to the Med due to a shortage of suitable berths in the UK . Arguably may be shorter than this . So what has happened will not have a huge effect if it is now classed as EU VAT paid. If on the other hand you have say a 40’ boat then this is more suitable for both EU and U.K. use. In this case it could cost more to buy one from abroad and bring to the U.K. now. However if you own one and sell to an EU resident then no change.
Hurricane
Well-known member
If you are saying that there are relatively few UK residents with boats in the Med, there are lots of us.
The weather is the biggest difference.
When we go out for a couple of weeks, we can, more or less guarantee good weather that we didn't get when we boated in UK waters.
I speak from experience.
Portofino
Well-known member
Carrying on thinking this 20 % less thing for the “ thousands “ in the Med .In order to take full advantage of this newfound 3 p status in the future where would folks say are the best locations ?
Thinking ease of access to outside the EU to re zero the 18 month s.
Or will theses areas gradually end up with an increase of Brit boaters in there marinas being reasonable close to none EU easily gotten to destinations.I wonder ?
I can think of S Spain for N Africa.
Parts of Greece for Turkey .
Anywhere in the Adriatic or elsewhere?
Thinking ease of access to outside the EU to re zero the 18 month s.
Or will theses areas gradually end up with an increase of Brit boaters in there marinas being reasonable close to none EU easily gotten to destinations.I wonder ?
I can think of S Spain for N Africa.
Parts of Greece for Turkey .
Anywhere in the Adriatic or elsewhere?
Mr Googler
Well-known member
Yes Porto.....but I can’t get 20% off unless I buy a boat that is not VAT paid.
Not many in the sub £100k sector id suggest. Maybe ex charter bashed up stuff
Not many in the sub £100k sector id suggest. Maybe ex charter bashed up stuff
Portofino
Well-known member
Southern Italy + Corfu area + Croatia seem to me good candidates as it’s an easy could be annual summer cruise into a pale blue area .
Cyprus ( flights ) and as said S Spain too are good places to escape EU waters .
I think the VAT question will factor more greatly going Fwds for U.K. boaters thinking of the Med .Why not ?
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Portofino
Well-known member
Plenty about esp at boat shows new .
Why buy a vat paid new boat for the Med now .
I mean Corfu or Majorca ? Much of a muchness is being kind to Majorca btw .
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jrudge
Well-known member
I agree the VAT unpaid boats are generally larger.
However to the poster above saying there are not many UK boaters in the Med - there are lots! To give you an idea Mallorca is roughly 40% Brits, 40% German and 20 % other.
If you look at high value boats I cant really see why someone would keep a large boat in the Uk due to the weather - so whilst the volume of UK boats maybe higher I would imagine the value of the UK owned Med boats could well be similar if not more.
Cala Dor for example is packed with £1-£2m boats owned by brits - and I do mean packed. It is the same in pretty much all of the Mallorca marinas. They are used as holiday homes and few are sub 50 feet.
However to the poster above saying there are not many UK boaters in the Med - there are lots! To give you an idea Mallorca is roughly 40% Brits, 40% German and 20 % other.
If you look at high value boats I cant really see why someone would keep a large boat in the Uk due to the weather - so whilst the volume of UK boats maybe higher I would imagine the value of the UK owned Med boats could well be similar if not more.
Cala Dor for example is packed with £1-£2m boats owned by brits - and I do mean packed. It is the same in pretty much all of the Mallorca marinas. They are used as holiday homes and few are sub 50 feet.
Portofino
Well-known member
Going Fwds you could end up with U.K. prospectives seeking a used VAT free boat from another U.K. guy moving on .
Along with demand blips by U.K. boaters with marina berths near the edges of the EU in the map posted above ^^ .
My post #37 ^^^ is a quote from a Ferretti dealer .It’s not even a month since Jan 1st and the marketing guys are “at it ” creating sales opportunities.No moss and all that .
Sorry for the TD ( MapishM) ideally if Italy left the EU , it would be very convenient for U.K. Med based boaters looking at the map .
Along with demand blips by U.K. boaters with marina berths near the edges of the EU in the map posted above ^^ .
My post #37 ^^^ is a quote from a Ferretti dealer .It’s not even a month since Jan 1st and the marketing guys are “at it ” creating sales opportunities.No moss and all that .
Sorry for the TD ( MapishM) ideally if Italy left the EU , it would be very convenient for U.K. Med based boaters looking at the map .
Chris H
Active member
Am I understanding this correctly........this VAT saving is only if you buy a new boat or a used boat that is VAT unpaid, if you are a U.K. citizen using the boat in the EU.
jrudge
Well-known member
Yes. The boat must be vat unpaid either as it is new and supplied in the eu to a non resident or was previously so hence tax has not been paid.
Chris H
Active member
So happy I didn’t purchase an ex demo sunseeker last year.......VAT was almost £200 k !
Portofino
Well-known member
Wonder how many have held off ? Covids not exactly been stoking up the U.K. to Med market .
Now a route out via the vax is visible and tenable , next July / August could be very busy with the pent up spend + losing the VAT for the more astute Prospects .