Saguday
Well-Known Member
Have you considered all of the possible VAT implications re bringing her back to Europe? There have been many threads on this subject, and it is still a veritable mine field.
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Yes, I have contributed to many of them
Its not a "veritable mine field" its very simple. If the owner is a EU tax resident that VAT ( and customs duties) will be due when she arrives in the EU. That can be the azores or her final destination , ie the UK. The VAT will be based on some documented proof of the value of the boat as aggreed with Customs, where a sale has taken place they will use the sale value. Simple end of story.
Correct but...
We bought her when we were resident in the US. HMRC appraised me of the rules before we bought her: provided we were living outside the EU for at least two years and owned her for at least 6 months before we returned she is considered personal possession and is VAT and duty exempt provided she is not sold within 1 year of importation to the UK. I have asked them 3 times just to check about this and each time had the same response. There is a standard form to fill in to bring her into the country.
We meet the first two criteria and we have no plans to sell her that quickly, if at all.
OH also she must have a RCD cert, though I think all modern island packets do, the older ones did not though. shed needs a RCD cert even if she pre-dates the introduction of the RCD. You will have to get a post construction assessment, about 10K I think.
I spent a long time looking at boats in the US specifically with a view to one day bringing whatever we bought back to the UK at some point. Many new US boats are still not CE compliant and most of the secondhand market was eliminated for this reason as well.
Island Packet made many contributions to the development of the CE standard and to my knowledge was the only US boat builder to be involved. I understand the performance of an IP29 (I think it was) at sea which survived a hurricane off the US coast provided a lot of data used in the stability assessment (IP told me that in retrospect the IP29 was on the margins of Cat A).
We finally went for an IP370 because a) she is CE Cat A certified b) has an RCD certificate c) is shallow draft (we were thinking of basing ourselves on the UK east coast when we got back) d) we loved the boat e) we got a very good deal on a nearly-new boat with only about 30 days sailing on the clock f) we couldn't afford the IP485
We also spent 6 months live aboard on her and have complete faith in her build quality and behaviour on the water. She is exceptionally comfortable to live on for extended periods and a big hit with the rest of the family.
So I guess it's time she came home![]()