New boat depreciation - approx %s?

[GrahamM376]

That is all guesswork. There have been no hints even of what the position will be in respect of VAT when we leave the EU. Risky basing a buying strategy based on zero hard information.

Everything is guesswork but, there have been more than hints that we will be leaving the Customs Union, in which case grubby officials will be looking to maximise tax income as goods move across borders. Best to hedge bets and cover as many eventualities as possible.

 

[Tranona]

Everything is guesswork but, there have been more than hints that we will be leaving the Customs Union, in which case grubby officials will be looking to maximise tax income as goods move across borders. Best to hedge bets and cover as many eventualities as possible.

VAT is not related to the customs union, and the rules on VAT payment and movement of pleasure boats are specific and not related to VAT rules for movement of goods in general.

As we have seen in the last 24 hours, predicting what might happen on the basis of what currently exists or what existed in earlier times is a mugs game.

 

[xcw]

Have you sold the Starlight then or are you just thinking of it? Anyway, its some time since I was last in the market but at that point it was clear, as a broker pointead out, that HR had the depreciation issue beaten but all other makes suffered and the closer you got to the bottom makes like Bav, the greater the value fall.

Very difficult to generalise about these things. I bought a new Bav in 2002 and sold it in 2014 for what I paid for it. Much of this was due to the value of the Euro when I bought and sold and also that I traded it against a new Bav. Since buying in 2014 the cost of new Bav has increased significantly so I would expect if I sold now (which I don't plan to do) the level of depreciation would not be that great. Personally I don't worry too much about these things as it's down to what I am prepared to pay for the considerable pleasure I get from boat ownership - it's worth every penny!! Now depreciation on car ownership - that's a different issue!!

 

[GrahamM376]

.........the rules on VAT payment and movement of pleasure boats are specific and not related to VAT rules for movement of goods in general. As we have seen in the last 24 hours, predicting what might happen on the basis of what currently exists or what existed in earlier times is a mugs game.

I think you will find that in practice, the Customs Union and the VAT Union are inseparable when we leave and yes, as you say, rules about VAT on transport (which includes boats) are specific and aren't good for those outside the EU club, which the UK will be.

Events in the last 24 hours are quite amusing, maybe if some of our politicians had experience in proper jobs, they would be better negotiators. Could well be the time to dump N Ireland and save some money.

 

[pagoda]

Personally I don't worry too much about these things as it's down to what I am prepared to pay for the considerable pleasure I get from boat ownership - it's worth every penny!! Now depreciation on car ownership - that's a different issue!!

I think that sums it up nicely. On balance , boats are a fairly costly pastime, but the enjoyment/return on the outlay is worth it I feel. I could do other things with the money but we enjoy sailing and cruising and pottering about. We're certainly not deliberately hanging back to "pass on " the cash.... As far as anybody knows you only get one shot at life, so you might as well try to make what you want of it?? I'd hate to be saying 10 years down the line " I wish we had decided to get that boat while we were in a position to enjoy it" .

 

[Tranona]

I think that sums it up nicely. On balance , boats are a fairly costly pastime, but the enjoyment/return on the outlay is worth it I feel. I could do other things with the money but we enjoy sailing and cruising and pottering about. We're certainly not deliberately hanging back to "pass on " the cash.... As far as anybody knows you only get one shot at life, so you might as well try to make what you want of it?? I'd hate to be saying 10 years down the line " I wish we had decided to get that boat while we were in a position to enjoy it" .

+1

 

[Quandary]

There’s a fantastic starlight about to come on the market, great alternative to the Fingulf

Unfortunately, having permanently given up sailing, I divided the paltry outcome with the family, (why do we continue to subsidise our kids when we know it is really bad for them) then I tried a mobo for a few months and managed to get out of that decision comparatively unscathed and with enough to get a wee Moody S31 which has really pleased me much more than I expected.
A few more folk as daft as me and Scottish yachtbrokers wives will all be going to the supermarket in Aston Martins.