Red diesel annual duty payment

[PCUK]

I've not had to buy any diesel since the loss of derogation so don't have any first hand knowledge of how the arrangement works for paying the duty annually. I need to do this as it will make my accounts simpler. Advice or directions to appropriate website appreciated.

 

[rafiki_]

If you buy at 60/40 propulsion/domestic, then no need to do anything, as the retailer does the rest.

 

[PCUK]

Isn't that for single transactions only?
How do I deal with one annual revenue payment?

 

[Solitaire]

Isn't that for single transactions only?
How do I deal with one annual revenue payment?

Not sure what you mean? Are you using your boat for commercial purposes? Under UK legislation you don't have to do anything in terms of revenue payments. You fill up and the fuel berth and as long as you abide by the 60/40 rule you don't have to declare anything. In fact even if you claim full commercial rate and sign a declaration to the that effect you still don't have to pay the revenue - unless they come knocking on your door and ask you to jsutify why you claimed at full commercial rate.

However since you have not filled up since the change I'm not sure what your problem is anyway.l

I think in Ireland you have to declare usage and pay annually, but not here in UK.

 

[goboatingnow]

I can confirm in Ireland you buy at red diesel prices at the pumps and remit the tax annually. In the UK you just pay the pricing on the 60/40 method and thats it,

 

[PCUK]

I understood there was an option to pay annually in the UK as well. As I said this would assist with my accounts on the part commercial side.
I don't want to go into details but the boat is 75% commercial and 25% private use.
It's an unusual situation but fully above board.

 

[neale]

I understood there was an option to pay annually in the UK as well. As I said this would assist with my accounts on the part commercial side.
I don't want to go into details but the boat is 75% commercial and 25% private use.
It's an unusual situation but fully above board.

Peter

When you are using the vessel commercially, just tell the fuel vendor and buy at 0/100. When you are using it privately buy at 60/40.

Keep good records and proof of your usage in case HMRC ever come calling.

 

[PCUK]

Thanks Neale, I'll do that.

 

[Solitaire]

If you are claiming commercial use, don't forget that you can claim back the 10.88p per litre duty as well. The claim must be in excess of £250 but can be backdated 3 years. But then you need to claim according to the duty change dates.

If you want chapter and verse then pm me.