dunedin
Well-known member
Don’t know, but certainly well before Brexit. In theory should have been used to/from Channel Islands, and we certainly used to/from Norway (being in Schengen but not in EU) 5 years ago.
Dual VAT status?
- Thread starter Tinto
- Start date
dunedin
Well-known member
Yes, most tax evasion is pretty easy to do. But in this case would need to explicitly lie on the C1331 form about the VAT aspect which could get serious if ever checked and found out.
Two things tend to discourage tax evasion - honesty, for most of us, and severe penalties for the less honest.
I know a few tax inspectors who have been very busy over the past few years. And whilst they are not involved in this sphere, I would be very surprised if both HMRC and Border Force don‘t keep a quiet eye on forums like these. Most investigations are intelligence triggered.
sailaboutvic
Well-known member
It's a good job I'm not planning to bring mine back then ?
Tinto
Active member
this is what I am finding. not many good uk boats about at sensible money. Their prices have gone the way of campervans. Maybe they will settle back once people can fly away for holidays again?
Chris_Robb
Well-known member
I think you will find that the mad rush to buy yachts in the UK and in Europe is to do with people getting desperate to have somewhere to holiday or weekend. Once they find out how much work and costs are involved, I suspect once the pandemic is over and things return to norm, we will find a lot of badly maintained yachts back on the market!
Tranona
Well-known member
This is the new "real" on the supply side the UK is now effectively a small closed market cut off from the EU - although in reality in the recent past the flow of secondhand boats was biased towards the EU so depleting the stock in the UK. There are now effectively no domestic suppliers of new boats and the UK is now a low priority market for EU builders who have already reduced capacity. There are essentially no new boats available in the UK market until 2022, and even then almost none in the 30-36' size range. No new boats means no trade ins.
As to demand, the new restrictions on movement around the EU for UK citizens have effectively killed demand for owning and keeping a boat in the EU. Everything you read about the current market is true. My late model boat went on the market a week ago and already one (silly and rejected) offer, one viewing today, another next Wednesday and a third for new year's eve..
The supply and demand conditions added to the uncertainty from Covid will be here for at least the next couple of years, probably longer. On the holiday front, the lack of incoming visitors will free up capacity for staycations. Not convinced that today's buyers will tire of their boats quickly when the alternatives are limited.
Tinto
Active member
yes, I think it will be quite some time before people are confident enough to book holidays abroad and decide to sell their boats. they also have to get bored of them, which may not happen.
Hopefully Omicron is the first step towards the virus being less deadly. but while it is still putting pressure on hospitals there is still going to be the need for testing before/after international travel which adds stress and cost. So as you say, it will be a few years until it all settles down.
Tinto
Active member
The more I look into this the more of a minefield
it looks to be.
it looks to be.
Graham376
Well-known member
Since the earlier postings, the VAT situation has been simplified by the RGR time limit being scrapped, allowing boats to to be returned to UK by (or on behalf of) the person who exported it. The delivery crew could include someone who has agreed to buy the boat once it has returned to the UK.
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st599
Well-known member
But only for boats that have previously been in the UK.
Tinto
Active member
That’s great, thank you very much for the update
Seven Spades
Well-known member
If you bring a British registered boat back to the UK it is unlikely to be picked up. If however you bring a foreign flagged vessel to the UK, I think the chances are high that questions qwill be asked when you try to enter it onto the SSR etc.
BoyBlue49
Active member
So what if purchasing an EU vat paid boat in the EU, register the boat on ssr while still in EU then bring boat to UK as a British citizen ?
syvictoria
Well-known member
If you don't declare and pay the VAT due, you'll be breaking the law.
Chris_Robb
Well-known member
Dead duck springs to mind.
Graham376
Well-known member
Marina receipts or other proof of UK berth may be required plus the C1331 should be on file from when it left. If recent purchase (new SSR) they may want to see, bill of sale, details of previous owner etc. If you're lucky it could work but OTOH if caught maybe seizure of boat or, hefty fine + VAT + UK compliance etc.
Chris_Robb
Well-known member
EDITED - Read the questions! You have to prove this yacht has been to the UK at some point in its life, but it still remains that if the sale takes place outside the UK you will not have any right to UK VAT.... So If it has been in the UK, and you must remember that one day you will need to sell the boat as Vat paid, you will need to prove that it really is VAT paid. Just to lie on the forms is fraud, in which case those of us who pay our taxes would hope you went to jail and had the yacht impounded!
As the sale has taken place outside of the UK, UK VAT status is permanently lost. If the sale has not yet taken place and the yacht has been to the UK, then complete to sale in the UK. The new C1331 has one specific question. Has the vessel ever been to the UK. If the answer is no, then no vat. You will have to pay vat.
The C1331 on now in spreadsheet format in addition to being down loadable pdf form. I suggest you look at it. I don't think it still asks "Were you the exporter" But that is still in the law.
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Graham376
Well-known member
Why tell me? Tell the guy who asked the question to which most of us already know the answer.
Chris_Robb
Well-known member
sorry - that was message to myself as I had not seen it was a EU Vat paid yacht!!!!
