The VAT in Spain is currently 16 of a boats assessed value as opposed to eg.

Uk boat vat. We strongly advise that you get in touch with your marina or harbourmaster and get written confirmation that your boat was on her berth in the UK at this time. Ad Hall of Fame boat dealer with a full line of Cobalt Boats offering salesservice storage. Boats are either standard rated taxable at 20 or zero-rated taxable at 0 sometimes referred to as VAT free.

VAT on boats when buying second-hand The Association of Brokers and Yacht Agents ABYA recommends that its members should obtain the relevant paperwork from the vendor before listing a yacht as being VAT paid. British recreational boats can travel freely in EU and UK waters without paying customs duties if VAT has already been paid on the boat in the EU. Older boats built before 1985 are considered VAT paid if they were residing in the EU on 31 December 1992 although evidence for this needs to be twofold and can be trickier.

Boats built after 1 January 1985 should have had VAT paid by the first owner or importer and evidence of this should come in the form of a VAT certificate or invoice. A good illustration of the variability in assessed value is the recent sale of the 1984 Westerly Seahawk reported. Owners who bought their vessels in the EU that have not been located in the UK during their current ownership will have to pay UK VAT on their boat if they want to bring it back to the UK even if they have paid EU VAT.

As a consequence VAT is chargeable on boats imported into the EU and on boats purchased and owned by residents of the EU who are using their boat within the EU. Goods that are in free circulation in the UK on 31 December 2020 will be eligible for RGR providing that EU VAT has been paid. If nothing is said about VAT in the purchase documentation the price includes any VAT due.

VAT Exempt is different to VAT free zero rated. This applies to new and second hand boats. 175 in the UK and even higher percentages in some Scandinavian countries.

Value Added Tax VAT is a tax scheme that was established by the EU. Well help you find or build the Cobalt Boat of your dreams call us today to get started. As previously reported in PBO since 1 January 2021 British ownedregistered boats are only permitted free circulation VAT paid in EU countries under specific conditions.