Paying Vat

[Tranona]

Then contact the pleasure boat unit in Portsmouth. The only variable with VAT is the value of the boat that is the base for the 25%. It would be sensible to get this agreed beforehand because the last thing you want is to get stuck in the port when you arrive on the ferry - particularly in these difficult times for travel.

 

[oldgit]

Just purchased an ex Guernsey boat.
The previous owner bought the boat into the UK with intention of basing it here and initiated negociations about paying the required 20% Brexit Tax on arrival.
Due to an unfortunate change of situation regards health, the boat was subsequently listed with a broker and tax would be due should any buyer wish to keep the boat in the UK.
Made an offer subject to the seller paying any duties due and a deal was done.
The broker retained the taxes due on the boat in their escrow account, they have just confirmed that the paperwork is now completed and on its way to me.
Has taken about 4 weeks since purchase.
Will find out soon just how many thousands of pounds No 10 has gained due to "taking back control"
Might even tell the forum.

 

[Tranona]

Just purchased an ex Guernsey boat.
the required 20% Brexit Tax on arrival.

Paying VAT on a Guernsey boat is absolutely nothing to do with Brexit. The Channel Islands have never been in the EU and VAT has always been applied to boats imported into the UK (and the EU) from there.

Always best to get facts right rather than make things up.

 

[AngusMcDoon]

.

 

[superheat6k]

Just purchased an ex Guernsey boat.
The previous owner bought the boat into the UK with intention of basing it here and initiated negociations about paying the required 20% Brexit Tax on arrival.
Due to an unfortunate change of situation regards health, the boat was subsequently listed with a broker and tax would be due should any buyer wish to keep the boat in the UK.
Made an offer subject to the seller paying any duties due and a deal was done.
The broker retained the taxes due on the boat in their escrow account, they have just confirmed that the paperwork is now completed and on its way to me.
Has taken about 4 weeks since purchase.
Will find out soon just how many thousands of pounds No 10 has gained due to "taking back control"
Might even tell the forum.

I suspect the result for the prior owner / vendor was as best as he could have possibly expected.

I suspect there was a real risk here that HMRC could have seized the boat when they became made aware of the failure to declare. Did the prior owner fancy losing his entire boat plus a massive fine ?

 

[oldgit]

Always best to get facts right rather than make things up.

French built boat originally based in France according to logbook paperwork .
Then sold to somebody resident in Guernsey who kept it in The Channel Isles
Subsequently sold it to a UK resident who had homes in both CI and UK, but kept it in Guernsey before bringing it back to UK

 

[Tranona]

French built boat originally based in France according to logbook paperwork .
Then sold to somebody resident in Guernsey who kept it in The Channel Isles
Subsequently sold it to a UK resident who had homes in both CI and UK, but kept it in Guernsey before bringing it back to UK

Does not change anything. The boat was imported from Guernsey which is outside both the EU and UK VAT areas, therefore VAT payable. Anything that happened before is irrelevant as leaving France for more than 3 years and/or changing ownership would lose its EU VAT paid status.

Remember VAT is NOT a tax on the asset, but on transactions involving the asset and importing anything into the UK from Guernsey is a "chargeable event" and subject to VAT.