Buying a boat from France/Belgium

[aquaholic]

Not sure if anyone can help but I am thinking about buying a boat from either of these two countries and wondered what the implications might be if any. What tax would have to be paid etc...also any help with which payment methods would be best and advice on money exchange.
Thanks in advance.

 

[Koeketiene]

We bought our previous boat in Belgium

1. If you're buying used - there are no extra taxes. Just make sure you obtain "VAT paid "-proof.
2. If you buy new, Belgian VAT applies (21.5% - ouch)
3. We paid electronically - ask for seller's IBAN & BIC code. Your bank should be able to help with that. They will, of course, charge costs for the transfer abroad.
There's no way to avoid this - do NOT turn up with a wad of cash. Belgian banks have to report any cash deposit over €25k. We did & we were made to feel like criminals for having so much cash money.

 

[danera]

My only tip from experience of buying a french yacht is to make sure you cancel the foreign registration correctly. I didn't & had an irate ex-owner chasing me for dues 6 months later!

 

[RJD393]

If you are buying new abroad and bringing it back to the UK (I think within 2 months)you can purchase it without paying the VAT then pay it in the UK when you bring her over. This saves the difference - 17.5% to 19.5% in the case of France. HM Customs and Excise have a downloadale sheet about the procedure - if I can find it will post the link

 

[RJD393]

The relevant information is in Revenue and Customs notice 728 this may provide the link http://customs.hmrc.gov.uk/channelsPorta...tyType=document

 

[weaver_fish]

Call the RYA - they have a little booklet with all the advice you need for buying a boat in the EU.

 

[Koeketiene]

[ QUOTE ]
Call the RYA - they have a little booklet...

[/ QUOTE ]

... stating the bleeding obvious.

 

[poter]

are you buying new or secondhand?

If new then not a problem see above....
secondhand (same as me last year) not a big hassel I purchased thru Ancasta, & they did a brill job, sorted all the documentation VAT etc.
I would strongly advise you do it thru a reputable broker as there have been some horror stories........

Mony, Exchange etc....... DO NOT USE your bank, they are rip off merchants of the first order!

Use a good internet exchange, you will get a much better rate of exchange & a tiny fee. I use Dosh
You have to set up an account then request an exchange quote.
There are others but I still use these guys to pay marina fees etc.
No hassel.

Oh one thing your bank may not let you take out more than £10,000 at a time, because of money laundering problems.......well thats what they told me, Bankers!!

poter /forums/images/graemlins/wink.gif