SolentPhill
Well-Known Member
Post deleted by DoralPhill
whats involved to become a commercial fishing boat *DELETED*
- Thread starter SolentPhill
- Start date
chanelyacht
Well-Known Member
Re: whats involved to become a commercial fishing boat
Nothing is that easy!
You'll need to have the boat inspected and coded, including buying all the necessary kit coding will require. It will need to be insured for commercial use, and the skipper will need to be commercially endorsed if you're planning on carrying passengers. There may be quota issues.
If you're doing it just to reclaim fuel duty, expect HMRC to want evidence of trading, annual accounts, etc to show it is a genuine business.
Alternatively, you could look forward to a period of free accommodation, food and heating as HMRC bring fraud and conspiracy to pervert etc charges.
It ain't worth it!
Nothing is that easy!
You'll need to have the boat inspected and coded, including buying all the necessary kit coding will require. It will need to be insured for commercial use, and the skipper will need to be commercially endorsed if you're planning on carrying passengers. There may be quota issues.
If you're doing it just to reclaim fuel duty, expect HMRC to want evidence of trading, annual accounts, etc to show it is a genuine business.
Alternatively, you could look forward to a period of free accommodation, food and heating as HMRC bring fraud and conspiracy to pervert etc charges.
It ain't worth it!
Whitelighter
Well-Known Member
Re: whats involved to become a commercial fishing boat
It is this sort of ill considered comment that will give HMRC the excuse to just wack the full duty on for pleasure boats. DOnt forget, the announcment did say that there would be a period of evaluation and the duty rate would be reviewed.
It is this sort of ill considered comment that will give HMRC the excuse to just wack the full duty on for pleasure boats. DOnt forget, the announcment did say that there would be a period of evaluation and the duty rate would be reviewed.
SolentPhill
Well-Known Member
Re: whats involved to become a commercial fishing boat
thanks
thanks
Whitelighter
Well-Known Member
Re: whats involved to become a commercial fishing boat
Sorry, I didnt mean to be nasty, I just dont want to give the powers that be an excuse. I dont want to pay extra duty, but right now the 60/40 split as a given is better than keeping exhasutive records or paying £1.50 at the pump.
Sorry, I didnt mean to be nasty, I just dont want to give the powers that be an excuse. I dont want to pay extra duty, but right now the 60/40 split as a given is better than keeping exhasutive records or paying £1.50 at the pump.
SolentPhill
Well-Known Member
Re: whats involved to become a commercial fishing boat
[ QUOTE ]
It is this sort of ill considered comment that will give HMRC the excuse to just wack the full duty on for pleasure boats. DOnt forget, the announcment did say that there would be a period of evaluation and the duty rate would be reviewed.
[/ QUOTE ]
I asked the question, its a genuine question there are loop holes in most things and if this is one that will help and works why not?
Its amazing Ive seen so many people on here leave due to attitudes like yours, a genuine question does not deserve to be shot down like that.
This is why I compared it to the congestion charge, if you drive through London the place is full of cars with these stickers in the window to make them exempt from the con charge.
I hardly think HM reads this and if they do if its a legal loop hole whats the problem??There will be a lot of people who will slow down on their boating because of this, there are many old boys at my marina who go fishing once or twice a week in their small boats, all they use their boats for is fishing so why not.
But if my questions is so disturbing that it can damage us I will delete it.
[ QUOTE ]
It is this sort of ill considered comment that will give HMRC the excuse to just wack the full duty on for pleasure boats. DOnt forget, the announcment did say that there would be a period of evaluation and the duty rate would be reviewed.
[/ QUOTE ]
I asked the question, its a genuine question there are loop holes in most things and if this is one that will help and works why not?
Its amazing Ive seen so many people on here leave due to attitudes like yours, a genuine question does not deserve to be shot down like that.
This is why I compared it to the congestion charge, if you drive through London the place is full of cars with these stickers in the window to make them exempt from the con charge.
I hardly think HM reads this and if they do if its a legal loop hole whats the problem??There will be a lot of people who will slow down on their boating because of this, there are many old boys at my marina who go fishing once or twice a week in their small boats, all they use their boats for is fishing so why not.
But if my questions is so disturbing that it can damage us I will delete it.
Whitelighter
Well-Known Member
Re: whats involved to become a commercial fishing boat
I agree in looking for loopholes, but surely you can see claiming you are a fully paid up mackrel trawler is a bit much.
If you are looking for a loop hole, surely the Charter Vessel is a better choice. You have a suitable boat, easy to do the odd charter and provided you keep records would be commercial.
And for what its worth, I dont think I have 'an attittude' and I dont think I have ever caused anyone to leave. To me it just seemed like an obviuolsy stupid thing to say but I could of course be very wrong.
Please dont see it as a personal attack, it wasnt meant that way.
I agree in looking for loopholes, but surely you can see claiming you are a fully paid up mackrel trawler is a bit much.
If you are looking for a loop hole, surely the Charter Vessel is a better choice. You have a suitable boat, easy to do the odd charter and provided you keep records would be commercial.
And for what its worth, I dont think I have 'an attittude' and I dont think I have ever caused anyone to leave. To me it just seemed like an obviuolsy stupid thing to say but I could of course be very wrong.
Please dont see it as a personal attack, it wasnt meant that way.
chanelyacht
Well-Known Member
Re: whats involved to become a commercial fishing boat
Sorry you felt the need to delete the post - personally I think it was a legit question to ask. The fact that the answer is "it's not worth it" would in fact show HMRC they've done it right, not bring some unknown doom down upon us all. As you say, it happens in other areas of life, and if a perfectly legal loophole could be exploited, you'd be daft not to!
It's certainly more legit than a recent thread in the lounge about avoiding speeding fines which basically was aiding and abetting a criminal offence!
Sorry you felt the need to delete the post - personally I think it was a legit question to ask. The fact that the answer is "it's not worth it" would in fact show HMRC they've done it right, not bring some unknown doom down upon us all. As you say, it happens in other areas of life, and if a perfectly legal loophole could be exploited, you'd be daft not to!
It's certainly more legit than a recent thread in the lounge about avoiding speeding fines which basically was aiding and abetting a criminal offence!
chanelyacht
Well-Known Member
Re: whats involved to become a commercial fishing boat
[ QUOTE ]
If you are looking for a loop hole, surely the Charter Vessel is a better choice. You have a suitable boat, easy to do the odd charter and provided you keep records would be commercial.
[/ QUOTE ]
Actually, I think saying that is worse!
It woudl only be charter, i.e. eligible for rebate, when paying customers were on board. You can't have a charter boat, charter it 10% of the time and claim for 100% of the fuel! Think of it like private use of a company vehicle.
HMRC aren't daft. If you book £3000 of diesel against a company which shows £500 in charter receipts, you're stuffed.
[ QUOTE ]
If you are looking for a loop hole, surely the Charter Vessel is a better choice. You have a suitable boat, easy to do the odd charter and provided you keep records would be commercial.
[/ QUOTE ]
Actually, I think saying that is worse!
It woudl only be charter, i.e. eligible for rebate, when paying customers were on board. You can't have a charter boat, charter it 10% of the time and claim for 100% of the fuel! Think of it like private use of a company vehicle.
HMRC aren't daft. If you book £3000 of diesel against a company which shows £500 in charter receipts, you're stuffed.
Whitelighter
Well-Known Member
Re: whats involved to become a commercial fishing boat
FWIW I agree, but you have a better chance of confincing someone you are at least trying to use £150k Sports Boat as a charter business than you are as a fishing smack
FWIW I agree, but you have a better chance of confincing someone you are at least trying to use £150k Sports Boat as a charter business than you are as a fishing smack
rubberduck
Well-Known Member
Me thinks that if one has the need to run a second business to pay for ones hobby, one should keep it under ones hat, or radar arch in this case, you never know who's watching. Could be fifth columnists you know. /forums/images/graemlins/smirk.gif
oldgit
Well-Known Member
You will need the hull of your boat top be at least 3 different shades of whatever colour you fancy.A few old tyres masquerading as fenders and several deep gouges each side of the boat is vital.Top hamper should exibit a fine selection of rusty derricks festooned with chains and wire,most of which will not have been used for years.A years supply of the "Sun" should be spilling out of the wheelbox and put to further good use soaking up the hydraulic oil seeping out of the winch.
The stern will be a filthy sooty mess with the boats name lurking somewhere underneath,a really interesting pong should follow the boat wherever it goes.
Any copies of "Gin Palace Monthly" left lying around must only be used to wrap up tomorrows lugworm . /forums/images/graemlins/grin.gif
The stern will be a filthy sooty mess with the boats name lurking somewhere underneath,a really interesting pong should follow the boat wherever it goes.
Any copies of "Gin Palace Monthly" left lying around must only be used to wrap up tomorrows lugworm . /forums/images/graemlins/grin.gif
Solitaire
Well-Known Member
You are all way behind the times. There is going to be such a glut of coded boats next year that the price is going to plummet. Unless you have a boat capable of being coded for at least 10 then forget it. The cost of coding to this number is the thick end of £10k before you have even got a charter. Furthermore, the boat must be in tip top condition.
Then there is the marketing, and the only way you will get in is by doing silly deals that will make no money. It is not as easy as you think! And as has been said you will need to show accounts for the charters and fuels used. The Revenue are not fools and have seen it all before. Secondly, you will be required to employ a skipper who is suitably endorsed unless you put your self through the system and get up to YM power with commercial endorsement. Although Coastal Skipper can also be endorsed. Cost of skipper and crew - look to £400/day and that's got to be included in your charter cost.
You need to keep detailed records of fuel used on charter against what you can claim as your own useage.
The 60/40 split is not a bad deal so don't go pushing it.
Then there is the marketing, and the only way you will get in is by doing silly deals that will make no money. It is not as easy as you think! And as has been said you will need to show accounts for the charters and fuels used. The Revenue are not fools and have seen it all before. Secondly, you will be required to employ a skipper who is suitably endorsed unless you put your self through the system and get up to YM power with commercial endorsement. Although Coastal Skipper can also be endorsed. Cost of skipper and crew - look to £400/day and that's got to be included in your charter cost.
You need to keep detailed records of fuel used on charter against what you can claim as your own useage.
The 60/40 split is not a bad deal so don't go pushing it.
Giblets
Well-Known Member
Re: whats involved to become a commercial fishing boat
Another distinct advantage as a registered fishing boat would be that you could enter Portsmouth Harbour on the eastern side thereby going straight to Gunwharf/Camber Dock rather than have to do battle with other boats in the SBC and crossing at Ballast Pile. /forums/images/graemlins/grin.gif
Another distinct advantage as a registered fishing boat would be that you could enter Portsmouth Harbour on the eastern side thereby going straight to Gunwharf/Camber Dock rather than have to do battle with other boats in the SBC and crossing at Ballast Pile. /forums/images/graemlins/grin.gif
SolentPhill
Well-Known Member
Re: whats involved to become a commercial fishing boat
I was thinking more about those in the small fishing boats the ones who will be effected by an increase, they dont have the generators or heaters on board, but go out fishing for a few hours each week.
I was thinking more about those in the small fishing boats the ones who will be effected by an increase, they dont have the generators or heaters on board, but go out fishing for a few hours each week.
dsw
Well-Known Member
10k ?? well i dont know where you get your prices as when i got my boat coded it was £50 a meter .
GrowingLad
Well-Known Member
/forums/images/graemlins/grin.gif /forums/images/graemlins/grin.gif
Solitaire
Well-Known Member
[ QUOTE ]
10k ?? well i dont know where you get your prices as when i got my boat coded it was £50 a meter .
[/ QUOTE ]
Maybe just for the survey! Then count the cost of the kit required and any modifications needed. Production of the user manual etc etc.
10k ?? well i dont know where you get your prices as when i got my boat coded it was £50 a meter .
[/ QUOTE ]
Maybe just for the survey! Then count the cost of the kit required and any modifications needed. Production of the user manual etc etc.
alant
Well-Known Member
A mate of mine is selling one if you want it, pls pm me.