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  1. #101
    Join Date
    May 2001
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    Broken Brexit Britain
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    52,283

    Default Re: Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit

    Quote Originally Posted by jfm View Post
    Ref yr 2nd para, there is no reclaim on export. There is merely a zero rate of VAT ab initio if the goods are delivered outside the territory when new. Unless there are fundamental changes to VAT law, which I doubt will happen, then a boat used (by a normal end user consumer) for say 1 year in UK and UK VAT paid will require a second payment of VAT if then taken to EU, with no recovery of the first payment. I agree this problem probably doesn't occur if UK stays in a customs union.
    I bow to your greater knowledge but there is certainly a scheme by which non EU residents can reclaim VAT paid on goods bought in the UK on leaving the UK and presumably after Brexit this will apply to all non UK residents assuming we do not remain in the customs union? I guess there is a time limit on this?

  2. #102
    Join Date
    Mar 2002
    Posts
    16,960

    Default Re: Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit

    Quote Originally Posted by mikef View Post
    there is certainly a scheme by which non EU residents can reclaim VAT paid on goods bought in the UK on leaving the UK
    Nope M, such scheme wouldn't make sense for boats.
    As jfm said, when a boatbuilder exports a brand new boat, no VAT is charged, though actually it's a VAT exempt rather than a zero rated invoice IIRC - but this is academic, and I might be wrong anyway.
    Regardless, there's no VAT involved, so obviously you can't claim back what you didn't pay.

    Otoh, when the same boat is sold to a private individual in the domestic market, the VAT is charged and paid, and even if it is not recovered in any way (as it happens with a sale to a private individual), it becomes a lost cost, not recoverable in any manner in the future, regardless of who/where will purchase the boat next. So, if the future buyer would be a foreigner who will bring the boat to a Country where VAT is due, the fact that it was already paid and not recovered in the UK is irrelevant to the destination Country.
    In a sense, the fact that at the moment this IS indeed relevant within the EC is actually an exception, rather than the norm...

  3. #103
    Join Date
    May 2001
    Location
    Jersey/Antibes
    Posts
    22,357

    Default Re: Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit

    Quote Originally Posted by mikef View Post
    I bow to your greater knowledge but there is certainly a scheme by which non EU residents can reclaim VAT paid on goods bought in the UK on leaving the UK and presumably after Brexit this will apply to all non UK residents assuming we do not remain in the customs union? I guess there is a time limit on this?
    That's inapplicable Mike. Has 3 month time limit, applies only to goods you can carry rather than freight, and expressly doesn't apply to boats. It's basically for foreign visitors shopping in London.

  4. #104
    Join Date
    May 2001
    Location
    Broken Brexit Britain
    Posts
    52,283

    Default Re: Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit

    Quote Originally Posted by jfm View Post
    That's inapplicable Mike. Has 3 month time limit, applies only to goods you can carry rather than freight, and expressly doesn't apply to boats. It's basically for foreign visitors shopping in London.
    Yeah I thought it might not be that easy! In that case then, a Brexit outside the customs union is going to kill the used boat trade between the UK and EU or at least sellers engaged in such trade will have to accept lower prices to compensate for the double VAT liability. Of course it will also affect the trade in any secondhand goods between the EU and the UK between non VAT registered sellers/buyers and thats going to be a big problem. Ebay for example?

  5. #105
    Join Date
    Mar 2002
    Posts
    16,960

    Default Re: Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit

    Quote Originally Posted by mikef View Post
    Of course it will also affect...
    Glad to be erudited if I missed something, but is it still likely that there will be anything affected at all?
    Lately, my impression is that the main concern among most politicians is about how (rather than if) to arrange another referendum, without losing what still remains (no pun intended! ) of their personal reputation...

  6. #106
    Join Date
    May 2001
    Location
    Broken Brexit Britain
    Posts
    52,283

    Default Re: Brexit - latest on VAT Paid Status in the event of a 'no deal' Brexit

    Quote Originally Posted by MapisM View Post
    Glad to be erudited if I missed something, but is it still likely that there will be anything affected at all?
    Lately, my impression is that the main concern among most politicians is about how (rather than if) to arrange another referendum, without losing what still remains (no pun intended! ) of their personal reputation...
    If only

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