AnnelyR
Member
Thanks, Dulls, we're flying out to do exactly that.
Hopefully nothing dodgy.
Buying a boat in Italy
- Thread starter AnnelyR
- Start date
Hopefully nothing dodgy.AnnelyR
Member
Most probably have it shipped to UK as Covid may cause issues with sailing it back. Another topic for the forum!
dulls
N/A
I hope it is the boat of your dreams!Thanks, Dulls, we're flying out to do exactly that.
AnnelyR
Member
What happened?
What happened? We’ve run into the same problem: they don’t seem to be able to prove that VAT has been paid, even though it’s advertised as VAT included.
dulls
N/A
The advert does not have to be true and the agent puts a disclaimer at the bottom of their web pages. You can understand why as they cannot tell if the owner is telling the truth or not.
crown22
Well-Known Member
Boats sold new may not have VAT paid because the first owner states that the boat is being exported outside of the EU.Also a
new boat purchased with the intention of charter might have had all the Input Tax reclaimed.Subsequent owners might never check and the boat could pass between several owners before somebody asks the question.Any boat made after 1983 for supply in the EU should have an original VAT invoice with evidence of the full VAT inclusive price being paid over.Best to check with HMRC if in doubt.
new boat purchased with the intention of charter might have had all the Input Tax reclaimed.Subsequent owners might never check and the boat could pass between several owners before somebody asks the question.Any boat made after 1983 for supply in the EU should have an original VAT invoice with evidence of the full VAT inclusive price being paid over.Best to check with HMRC if in doubt.
AnnelyR
Member
Yes, already did and answer is the same: all boats in private ownership should have VAT paid - in EU and in UK. You said you got burnt. What happened? Did you buy a boat without VPS (even in unknowingly) and got caught out? I wonder what are the chances? As you say, a boat can pass between several owners before anyone checks, if ever...
crown22
Well-Known Member
I had to sell at less than market value because other buyers withdrew.
AnnelyR
Member
Sorry to hear that, not fair. We may need to do the same and simply walk away if they cannot provide VPS.
dulls
N/A
You would have to look this up but is your boat an ex charter yacht or was it owned by a business or company in some way? If so it may have not had VAT paid. It possible means you have to pay it if you buy the yacht. Or maybe they have to pay it if they sell it privately....I dont know but you should investigate it. I would walk away if they cant produce the VAT. I know hard to do or knock 20% off your offer to cover your selves. I am no expert on this but i was looking at a boat a few weeks ago with no proof of VAT and did some off the cuff research which may have made me dangerous with advice.
Sinbad1951
Well-Known Member
Depends on the year of construction and its whereabouts on specific dates. This may help and just needs the boatyard at the time in question to formally provide a letter stating the boat was in ‘such and such’ a port/marina/hardstanding on 31/dec/92.
All yachts built in or brought into the EU on or after 1 January 1985 must be able to prove their VAT paid status. A boat built before this date is deemed to have VAT paidstatus if it was in private ownership and within the EU at midnight on 31 December 1992.
All yachts built in or brought into the EU on or after 1 January 1985 must be able to prove their VAT paid status. A boat built before this date is deemed to have VAT paidstatus if it was in private ownership and within the EU at midnight on 31 December 1992.
