Bigplumbs
Well-Known Member
Reading several of the post above are we still sure that this thread is not discussing ways to get out of paying tax that might properly be due
Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit
- Thread starter petem
- Start date
Portofino
Well-Known Member
As I said you nonimate a none Eu guy usually on a tropical island living in a tin roofed shack .
How ever if it’s large , grey has flappy ears and a trunk looks like an elephant then it’s probably IS an elephant.I agree with you on that .
Bit like this - shows the “beneficiaries “ point I made above .looks like an elephant too
Last para is the hint .
http://www.nauticalegal.com/en/reports/644-embarcaciones-en-importacion-temporal-criterio-en-espana.
I,am not advocating it btw and “where’s there muck there’s brass “ there’s money in garbage
Last edited:
Portofino
Well-Known Member
No I,am putting up alternative views on JFMs suggested after Brexit a U.K. citizens 3p status could open up a loophole so U.K. residents could buy “ tax not paid “ boats and successfully operate them in the Med under TA .
If you read my posts .
They will trade / deal that away to close it for ex U.K. folks .
There will generally develope a new place / name for a post Eu state along with a new set of special rules .
Sos to nullify any real / perceived benefits of leaving .
jrudge
Well-Known Member
Dear oh dear Bigplums you do seem to have a chip on your shoulder.
As it stands today if we crash out of the EU next week we are now all non EU citizens. Porto - you can speculate about changes to the rules etc but that is all it is, we don't even know if we are leaving on the 29th ( which is frankly unbelievable - and it seems we wont get an answer open that until the 28th - you could not make it up).
If we did leave then we could legitimately get a boat delivered to say Jersey, then temp import it into the EU for 18 months. You could not bring it to the UK - that would make VAT due on the assumption you are a UK resident.
There is no evasion / tax properly due - tax is simply not due under the rules if we crash out next week and it is delivered to an offshore location.
Until such time as we do crash out without a deal, or there is a deal and that deal says XXX about the situation ( or more likely says nothing changes for 2 years until we figure it out) then it is a pretty academic discussion. That said if I was about to pay for a new boat and take it to the med I think I would wait a few weeks .....
Finally remember there is only a part free lunch here. A tax paid boat is worth more than a tax not paid boat. The difference is not usually the whole tax as not tax paid attracts non EU buyers, and of course if you do pay it down the line then you pay based on the second hand value as opposed to the new price - so there is a nice cash benefit but it will be worth less when you come to sell.
As it stands today if we crash out of the EU next week we are now all non EU citizens. Porto - you can speculate about changes to the rules etc but that is all it is, we don't even know if we are leaving on the 29th ( which is frankly unbelievable - and it seems we wont get an answer open that until the 28th - you could not make it up).
If we did leave then we could legitimately get a boat delivered to say Jersey, then temp import it into the EU for 18 months. You could not bring it to the UK - that would make VAT due on the assumption you are a UK resident.
There is no evasion / tax properly due - tax is simply not due under the rules if we crash out next week and it is delivered to an offshore location.
Until such time as we do crash out without a deal, or there is a deal and that deal says XXX about the situation ( or more likely says nothing changes for 2 years until we figure it out) then it is a pretty academic discussion. That said if I was about to pay for a new boat and take it to the med I think I would wait a few weeks .....
Finally remember there is only a part free lunch here. A tax paid boat is worth more than a tax not paid boat. The difference is not usually the whole tax as not tax paid attracts non EU buyers, and of course if you do pay it down the line then you pay based on the second hand value as opposed to the new price - so there is a nice cash benefit but it will be worth less when you come to sell.
Hurricane
Well-Known Member
As you say - we don't know anything at the moment.
But taking your point above, if a hard Brexit happens, we could see our EU based boats worth more than a UK based boat to someone who wants to keep a boat in the Med.
Just a thought.
jrudge
Well-Known Member
Agree given it will have free circulation and an EU buyer of a UK boat will have to pay VAT / IVA etc on import. Quite odd really that is location on a date makes a difference but you have to draw a line somewhere I suppose.
I think we can probably all agree that the whole thing is a mess and given an extension seems plausible I suspect we will not know one way or another for a long time yet.
MapisM
Well-Known Member
LOL, I guess it is delusional to find out that you are not alone in trying to avoid taxes.
And the funny thing is that your small purchases from the People's Republic, deceptively declared as gift/samples/whatever, are for all intents and purposes illegal, while folks who buy Maltese Falcon and the likes (most of whom could write books on tax avoidance) actually do that without breaking the law.
Welcome to modern capitalism.
Bigplumbs
Well-Known Member
No chip on my shoulder you mistake a person speaking their mind as such and you are incorrect. You missed out the b by the way which is very significant in my screen name
In simple terms this thread will be read by many I am sure who will not dane to comment as Rich Boys trying to get out of paying their dues oh and also trying to surpress the views of normal Joe as they also like to do
No reason to be surprised it happens the world over and will continue. No reason however not to speak out
Perhaps this is not what the thread was supposed to be but that is what it will be seen as by many
Last edited:
Bigplumbs
Well-Known Member
Many assumptions there most incorrect as usual. Be proud of your modern capitalism never mind morals
Lloydroberts
Well-Known Member
Bigplumbs
Well-Known Member
I doubt that very much.......what is there to fear?
Your plumbs ain't that big.
Oh dear you put the b in then used it without the b...…… 0/10 can do better
Lloydroberts
Well-Known Member
Look again
Bigplumbs
Well-Known Member
Too subtle for me unless you are supporting what I said by the highlighted bit
stelican
Well-Known Member
Please do not feed the Troll
Blue Sunray
Well-Known Member
MrB
Well-Known Member
No please do, it's hilarious watching the Green-Eyed monster come out against successful people spending their money. If you use an accountant, you embrace tax avoidance after all.
:encouragement:
MapisM
Well-Known Member
Of course my assumptions may be wrong, but they are based on what you wrote here in the asylum, nothing else.
Ref. being proud of these things and moral/ethic implications, while I can't claim to have jumped off that particular bandwagon for those reasons alone, they did play a part in my choice.
Which doesn't mean that I'm unable to call a spade a spade, though.
jfm
Well-Known Member
And as I said you're delusional if you think that works. You're writing like a daily mail reader or a guy who thinks if something is in the internet then it must be right.
Portofino
Well-Known Member
I never said that works !
We don,t get the daily mail or take any EN newspapers here in Switzerland so you have lost me on that one .Nether mind I suspect it’s not particularly relivent and it’s your option to elaborate further if you think it helps the thread .Suprised at the derogatory comment “ delusional “
I,am writing married to a recently retired HMRC tax investigator .
Moving on if I may ?
Seeing as this thread is Brexit related and initially focused on U.K. VAT .
Widening it quite far for some ( sorry if I loose a few ? ) I fear just bear with me ........
In the EU the IOM and CI dependency’s have sat under the wing so to speak of the mother country GB .
Similarities can be drawn with other tax efficient dependency’s either in or surrounded by other member states sat round the table at EU summits etc .A sort of friendly stand off .
I wonder if after Brexit if the Eu might challenge stuff , start pushing back etc tax policy coming out of those UK dependency’s if there’s no or minimal influence of the UK or any current lobbying from team GB is lost ??
How reciprocal are those current arrangements gonna be post Brexit ?
A shift in motivation occurs from the Eu as well arguably revengeful.
Speculation sure but I can’t see the status quo holding and suspect the Eu will drive an adverse direction of travel .
Bigplumbs
Well-Known Member
That's original I am sure you could do better if you really try your hardest