HMRC to drop 3 year RGR

[goeasy123]

See here... https://www.rya.org.uk/news/rya-wel...he-3-year-condition-for-returned-goods-relief

 

[nortada]

This is already being covered in the thread below.

Latest from HMRC re retuning boats.

A classic example of an organisation (The RYA) starting a rabbit running (asking HMRC for a ruling on RGR, post Brexit) and then claiming they sorted a problem, which was of their making in the first place. Nevertheless, it will impress advocates of the RYA - their aim in the first instance?

A classic example if you may not like the answer, don’t ask the question and an example that the RYA has little interest it it’s members overseas.

 

[Baggywrinkle]

My interpretation is that the 3 years are only waived for UK VAT paid boats that were once in the UK and travelled to the EU, being there on 31.12.2021 ... and for future trips to the EU where they can enter the EU under TA, stay indefinitely (doing the 18 month TA reset), and as long as they don't get a major refit or change hands outside the UK they can return any time they like under RGR.

Boats bought in the EU with EU VAT paid, owned by UK residents, are not covered.

The RYA appear to be campaigning to have these boats classified as being UK VAT paid and exported to the EU on 01.01.2021 whereupon the 3 year rule applies, so can be bought "home" by their original owner under RGR until 31.12.2024

After that, once they have been in the UK, then they can go back to the EU, under TA, free of the 3 year limit.

Or is this wrong?

 

[sailaboutvic]

My interpretation is that the 3 years are only waived for UK VAT paid boats that were once in the UK and travelled to the EU, being there on 31.12.2021 ... and for future trips to the EU where they can enter the EU under TA, stay indefinitely (doing the 18 month TA reset), and as long as they don't get a major refit or change hands outside the UK they can return any time they like under RGR.

Boats bought in the EU with EU VAT paid, owned by UK residents, are not covered.

The RYA appear to be campaigning to have these boats classified as being UK VAT paid and exported to the EU on 01.01.2021 whereupon the 3 year rule applies, so can be bought "home" by their original owner under RGR until 31.12.2024

After that, once they have been in the UK, then they can go back to the EU, under TA, free of the 3 year limit.

Or is this wrong?

Basically correct , the big downer is boats that paid vat in the UK but been sold aboard are still vat liable if they are brought back to the UK by their new owner.