400 yachts available for sailing in 26 bases around the world.

Uk yacht vat. British boats thrown lifeline over double VAT after Brexit The amount of VAT yacht owners could face runs into thousands of pounds depending on the market value of the vessel when it returned to. This applies to new and second hand boats. The general rule in the UK is that if the yacht has increased in value since the date of purchase by the seller VAT will be due on the amount by which the value has increased even if VAT was previously paid on the purchase of the yacht and has not been reclaimed.

Buying a pleasure craft in the UK for use in the EU. Interestingly a UK national would probably be able to then use his yacht whether new or ex-VAT and brought to the EU for 18 months without payment of VAT. 400 yachts available for sailing in 26 bases around the world.

Clarification on UK VAT rules following Brexit. This was originally 31 December. Ad Bare boats or crewed yachts Bavaria Lagoon Beneteau Jeanneau Fountaine Pajot.

The EU Commission has said that yachts located in the UK at the end of the transition period on which VAT was originally paid in an EU27 country may be entitled to an exemption to VAT payment if they enter the EU post-Brexit as returned goods. UK VAT paid yachts in the EU Yachts that are UK VAT paid will no longer be able to circulate freely in the EU from 1 January 2021. 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 Bare boats or crewed yachts Bavaria Lagoon Beneteau Jeanneau Fountaine Pajot. RATS has asked the EU Commission for clarification of this issue and is waiting for their response. 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.

VAT must be paid at 20 on all new vessels purchased in the UK by UK residents where the vessel is to be kept in the UK. Naturally boats owned by UK residents which are VAT paid and sitting within UK waters as at 23h00 hours on Thursday 31 st December 2020 will be accepted as VAT paid in the UK. The latest from UK HMRC states that a UK-flagged boat which left the UK must return before 30 June 2023 if the owner wishes to claim Returned Goods Relief RGR and retain the UK VAT paid status of the boat.