He was referring to his boat in the original post - which is British flagged. The flag of the boat has nothing to do with where IVA was paid or not paid
. ) because this is such an easily confused topic that many writers get it wrong. The two articles posted in images above in this thread are pretty poor, tbh. There are plenty of incorrect statements on RYA's website over the years - do not assume RYA is a source of truth on this. I'm posting from a position of reading and knowing how to read the actual law, not regurgitating the internet.
Thanks for clearing that up.Crikey, what a thread. This is very complex, and this thread has done sterling work to make it even more confusing than it need be
On insurance (nothing to do with VAT), it is generally the case that an insurer covering EU located risks must be regulated/have an office in the EU. The location of a risk is complex topic but for a boat it is where flagged. Nothing to do with VAT etc. For a person wanting holiday insurance, it is where that person normally lives, to answer the first sentence of julians' post 19.
On VAT, a completely separate topic from insurance, Tranona is 100% correct and several others are incorrect. People (except Tranona!) are conflating 2 separate things:
- Boats on which UK VAT was originally paid, that were exported from UK to EU, then brought back to UK by the same owner who was the original exporter - for this so called "RGR" relief there is no longer a 3 year limit or other Brexit related deadline by which the boat must be returned to UK without paying UK VAT a second time. Tranona is 100% correct that the previous "discretionary" extension of the 3 year time limit has become "automatic". Tranona is also correct on his "duality" point, which is a point that virtually no other public commentators on the planet (yachting magazines and associations, and forum posters) have ever got correct. I think Tranona has described this duality before on here, and I certainly have, somewhat to no avail!
- Boats that are EU (not UK) VAT paid being brought into the UK - for this situation there is a Brexit deadline time limit and that is what all the RYA and CA kerfuffle has been about, but they tend not to make clear that the kerfuffle applies only to this "para 2" situation and not to para 1 above.
In my book the RYA and others associations have done a terrible job communicating this (and I've criticised them before on here). Don't believe everything you read on the internet (apart from Tranona's posts and this post
Just to grease this wheel .The U.K. brokers tend to act for ins Co with offices ( not exclusively) in the EU .
Sheesh - every word of that is incorrect, on multiple levels.
Son has it what they did successfully.Dublin + Amsterdam. All the decisions are taken and movers and shakers are in London .
On reading my own post again, I want to add an edit - I'm not correcting anything I wrote; I'm just adding another (rare) category of boats that can be brought back to UK with RGR without any time limit.
As you wish. If your son has tons more experience at owning/running financial services businesses than me, I'll happily concede.
Talking crossed purposes here .As you wish. If your son has tons more experience at owning/running financial services businesses than me, I'll happily concede.
His employer (or he, if he owns the business) might not appreciate your last sentence being posted on public internet though, because you're basically accusing them of breaking the law. Post away though...