Temporary Admission TA after Brexit.

Yacht owners brexit. 44 01732 223 650. HMRC has confirmed to Yachting Monthly that customs checks would apply to all vessels regardless of size and documentary evidence would include the original invoice or receipt evidence that VAT was paid at importation or invoices for material used if owners built their own boat. On the 31st of December 2020 or whenever the transition period ends any UK VAT Paid yacht will maintain its EU Goods status if it is IN the remaining EU27 Customs Union.

Following the end of the Brexit transition period there should be no reason why a UK registered commercially registered charter yacht will not still be able to charter within the EU provided that the owning charter company follows all relevant fiscal obligations and provided that there are no regulations at a national level that specifically prohibit the charter of yachts registered in third countries for example Greece currently prohibits the charter of non-EU flagged yachts. Were proud to say our boat insurance is among the best in the business. This applies to any vessel of any flag where VAT was paid in the UK.

Its not all bad news. EU27 VAT Paid Yachts. It is important for yacht owners to ensure any relevant documentation that can be used to demonstrate their yachts location at 11pm UTC on the 31st December 2020 is retained in order that the status and movement of the yacht post-Brexit can be determined accordingly.

Many commercial yachts are owned within a company established in an EU country Malta is a popular one and they pay their taxes according to EU law. As the UK nears the end of its Brexit transition period on December 31 the situation for long-term cruisers and UK owners who keep their yacht in. Boat Owners Brexit Haven Knox-Johnston.

However if your boat remains in Greece through 31 December 2020 it will be deemed to be EU VAT paid. The first issue is to maintain your EU Goods Status. Sarnia are committed to providing an all-encompassing corporate and yacht management service including managing VAT so should you wish to discuss any aspect of Brexit or indeed anything else relating to your yacht ownership or operation then please feel free to contact us on 44 023 8212 6400.

If you return after this date you will be liable to pay VAT again based on a new valuation of your boat. The Cruising Association CA has warned skippers that they need to prepare now for the bureaucracy of sailing post-Brexit. The location of the yacht on the day of Brexit may affect the Customs and VAT status of the yacht and therefore the following scenarios may be possible as recently published by the Royal Yachting Association.