Importing from outside EEC - VAT rates

[scotty123]

Many yachts imported from outside EEC, use Azores as Port of Entry, because of low VAT Rates, apparently 15%.

What other Ports of Entry, are available at low or lower rates?

 

[Twister_Ken]

There's a list on page 2 of this document.

Cyprus & Luxembourg appear to be cheapest at 15%.

 

[JREdginton]

I have just been doing a lot of research into this myself.

Looking at the supplied link VAT in the Azores at standard rate is 21% (Portugal) /forums/images/graemlins/frown.gif However, at the boatshow this year I was advised by HMC&E of a revision to 6% for Azores if the vessel was sailed in /forums/images/graemlins/grin.gif Would love to know if this is so?. Looking at the tables the reduced rates are 5% & 12%.

VAT in the UK is based on a 'comodity code'. For a yacht this bumps VAT to 21%, ouch /forums/images/graemlins/mad.gif

Also, be aware VAT is chargable on ALL costs incured in delivery the goods to the EC. So insurance, survey, fuel, crew flights, hotel bills, food too could all be VATable! The VAT payable is not bound to the purchase price either but may be revised to reflect market values for the goods transported /forums/images/graemlins/confused.gif

Also be aware the paper trail is different dependent on the value of the goods, over £6500 involves more paper.

Mind you, on most boats RCD/CE marking is going to cost than VAT more unless you spend over £50K if over 12Mtrs (ball park, under 12Mtr £5K, over 12Mtr as much as £10K) /forums/images/graemlins/shocked.gif A nice cop out for RCD is if the vessel has been in EC waters prior to June 1996 and can be proved to have been here (or built) though this needs more than the work of an ex-owner though, log books, photos, receipts.

All this has been gleaned talking to HMC&E, surveyors, taking the RCD apart. If I have got it wrong please let me know as I am seriously thinking of dropping a pot of loot for a US vessel.

 

[scotty123]

"Looking at the supplied link VAT in the Azores at standard rate is 21% (Portugal) However, at the boatshow this year I was advised by HMC&E of a revision to 6% for Azores if the vessel was sailed in Would love to know if this is so?. Looking at the tables the reduced rates are 5% & 12%."

Where did you get the 6% figure from in HM Customs?

 

[JREdginton]

@ this years london boat show on thier stand, verbally only I am sorry to say! Like I said, I'd love to get htis confirmed, the loverly lady I spoke too was adamant that a vessel sailed into the Azores would only get hit with 6% and advised me to import personally via Horta.

 

[alant]

Yacht Importation VAT rates - contact HM Customs & Revenue on 0117 984 3454,

Would love to hear how you get on.

 

[bedouin]

It's worth pointing out that some countries are reputed to be more amenable to low valuation on the yacht than others

 

[JREdginton]

Or on 0845 010 9000, this one is a free-phone /forums/images/graemlins/wink.gif Already spoken to them, advise of comodity code would place imported yacht (from US) at a rate of 21% (ouch) I have to say, they were really open and helpful, advised about C88 too.

 

[alant]

Tried that number, but was told only for yachts just about to enter UK waters.