Next boat in the pipeline - VAT, Insurance etc ect

[martin]

Hi

After a few years off I am dipping my toe into the madness again

First question, if (for example) it was a 2008 boat with proof of VAT paid in the UK, but based in EU/Spain for the most part. Do i need to worry about VAT? what are the issues around movement etc..?

Also, wondering about Insurance...Was with Panteanas previously for my Princess 50, cant say I had a good experience despite high price, so looking for other popular options...Any thoughts welcome.

M

 

[Hurricane]

Depends if you are planning to bring the boat back to the UK or leave it in the EU.
This is all how I understand it.

The boat will attract VAT again upon entering the UK because you weren't the original exporter.

If you intend keeping the boat in the EU, there shouldn't be a problem.
However, it would be prudent to have some documentary evidence that the boat was in EU waters on the 31st December 2020.
Perhaps marina bills for example.
In Sant Carles, we managed to get a statement from the marina manager confirming that our boats were in his marina on the night of the 31st Dec 2020.
This proves that the boat was an EU Good at that time and, as such, will remain so.

I hope that helps

EDIT
Insurance.
Give Curtis Marine a call - very helpful brokers - they should give you an automatic broker discount - especially if you mention this forum.
Curtis Marine Insurance | Compare Boat Insurance Quote & Buy Online
They are brokers so are able to offer all the usual underwriters.
No problem if you are British and have a British Registered boat in EU waters

 

[martin]

Great information ! Thank you very much. We were based in Sant Carles for a while but never managed to meet up with you. We are aiming for further south Valencia / Denia this time, but may well venture up to Sant Carles this year if all works out well.

 

[timbad]

Small world I am in Sant Carles as well with my Phantom 48. for insurance try Gallagher Marine (used to be called Colemans)
www.ajg.com/uk/marine
Office - 01202 497410

 

[jfm]

You are ok on VAT if

1. You, in your ownership of this boat, keep it in EU other than short trips out of EU such as Gibraltar; and
2. You never bring it to UK; and
3. You get documentary proof that the boat was physically in EU at midnight 31/12/2020 ( there is no definition of what constitutes proof, so play safe

The devil is in the detail so I'm reading your post on the basis that your words "for the most part" are not there. If there is more information it might affect things but we need to know the information.

Insurance - when shopping around remember that different policies have different exclusions and this will affect the pay out in many common claim situations. Caveat emptor and cheapest is rarely best.

 

[martin]

Thank you JFM and Timbad.

Having thought about it I am sure we will ever bring it back to the UK now. I have asked for info on the 31/12 as condition of sale so should be good on that front.

As for Insurance, yes I get what your saying have never been a fan of cheapest = best. That said, I have never been able to decipher insurance contracts in satisfactory way and wanting to try something different from Panty this time, I was more trying to find out if I had missed something in the last few years and now everyone uses x

Have contacted Hurricanes people and waiting for a quote

 

[jfm]

Personally I would want to see the 31/12/2020 documentation before executing the contract, more than I would want it as a condition in the contract.

I have no idea on pricing but I like the wording of the most recent Pantaenius insurance contracts that I have seen. If you cant decipher, post links on here and we will give contracts marks out of 10

 

[martin]

Good plan. I have updated my request to see the 31/12/2020 proof before the contract is signed.

Will keep you informed of insurance progress . I am a simple IT mouse who can barely spell, so contracts and legal stuff just makes my head hurt