VAT importing boats...

[yachtie8]

Hi
I own a Corribee 21 in Jersey (UK!) and would like to sell it in the UK at some stage, I would therefore have to presumably pay VAT on it but:

- Is it excempt becasue it was built in 1973?

and

- It was built by Newbridge in Dorset so will it also be exempt because VAT would have been paid before presumably?

All very confusing!

Cheers
Yachtie8 /forums/images/graemlins/confused.gif

 

[dk]

You can try ringing the National VAT Yachtline on 0845 723 1110, but you might be making a rod for your own back!
IMHO I don't think HMC&E are likely to chase you very hard with a boat of that age and value. Most old, small boats I've bought/sold have had no paperwork at all!

 

[snowleopard]

[ QUOTE ]
... be exempt because VAT would have been paid before presumably?...

[/ QUOTE ]

An unwarranted assumption i'm afraid. Buy a boat VAT-paid in the UK. Sell it outside the EU. The new owner brings it back and has to pay VAT again. There is no limit to the number of times they can charge VAT on the same boat!!!

There are rumours that if you buy a boat here and go for a long cruise they can charge you again when you get back.

 

[jamesjermain]

For your particular set of conditions the following statement from tehRYA may help. The boat is obviously old enough to be VAT exempt, but the problem is, where was she on the key dates. If she has ben out of the EU - ie in Jersey, since she was built, or if you bought her over there, then you willalmost certainly have to pay VAT.

'Some boats may be deemed VAT paid under age-related relief. For this to be true, the boat must have been in use as a private pleasure vessel prior to the 1st January 1985 and have been in the EC on 31st December 1992, which was before the borders opened in the EU. Also, it must not have been sold in a non-EU country in since 1st January 1993. Documentary evidence must be produced to prove both cases.'

There is more on VAT on the RYA web site. Click on the FAQs link

 

[smee]

It would be exempt if you had proof it was built before 1st April 1973.

But without that it sounds like VAt is payable.