vat

[kushy]

Can anybody tell me how much vat you pay when you import a yacht to the EC from outside the EC?
Is it based on the price you paid for the boat, the price of the boat when new or what the Tax authorities value the vessel at?

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[smee]

It depends where you bring it in!

Bring it in, in Spain and they will value it on a usually very favourable basis as no-one is inclined to pay full whack in Spain, so they have VAT values miles less than real value and the VAT rate will not be more than 16%.

Bring it into UK and you will pay the bill of sale price and 17.5% unless they feel inclined to come and value it and then God knows what it can be, but definately with the full 17.5% on it!!

And if you take it to France well their VAt is even higher!

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