VAT

[rod]

Anyone had experience of importing a non vat paid second hand boat into UK?

I am trying to find out whether I can deduct the sellers brokers fees from the "valuation"

Any other ways to (legally) reduce tax position appreciated

 

[johnsomerhausen]

Une way, perfectly legal but not that easy, is to sail the boat to the Azores and pay the VAT there; it's only 13.5% and agood agent can "negociate" the value for you.... That was the case in Horta when I passed there in 1998.
john

 

[Guest]

VAT will be levied on the market value. The market value is what you paid for the boat, and this would include any brokers fees. It may be however that you can persuade the VAT people that the boat is where less.

If the boat is non EU and is first being imported into the EU now then you may have to worry about the Recreational Craft Directive as well.