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  1. #1
    Join Date
    Jan 2012
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    East Sussex
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    9

    Default Selling a yacht post Brexit - UK or within EU

    Hi
    We have a yacht which we plan to sell in 12-18 months. VAT was paid on her original purchase when new - 25+ years ago. She is currently in the Canaries and we plan to sail her back to mainland Europe and perhaps to the UK.

    I know we don't yet know how Brexit will pan out but is it likely to better for her to be based within the EU or in the UK. This obviously depends on who purchases her, but the larger market is in the EU. So if back in the UK there could conceivably be duty if she was imported into the EU.

    Any views? Please do not turn this into a Brexit discussion!

    Thanks
    Paul Redstone

  2. #2
    Join Date
    Mar 2002
    Location
    Greenwich
    Posts
    7,566

    Default Re: Selling a yacht post Brexit - UK or within EU

    Quote Originally Posted by PaulReds View Post
    Hi
    We have a yacht which we plan to sell in 12-18 months. VAT was paid on her original purchase when new - 25+ years ago. She is currently in the Canaries and we plan to sail her back to mainland Europe and perhaps to the UK.

    I know we don't yet know how Brexit will pan out but is it likely to better for her to be based within the EU or in the UK. This obviously depends on who purchases her, but the larger market is in the EU. So if back in the UK there could conceivably be duty if she was imported into the EU.

    Any views? Please do not turn this into a Brexit discussion!

    Thanks
    The EU commission advice as interpreted by the Cruising Association says that in the event of a no deal every EU VAT paid boat will become UK only VAT on Brexit day if it is physically in the UK regardless of what flag it has, the nationality of owners or where the VAT was paid. If itís in the EU it will be EU VAT but not UK paid.

    If itís in the Canaries (as ours is now) we are expecting it to be counted as EU VAT still.

  3. #3
    Join Date
    Feb 2007
    Location
    West London
    Posts
    2,875

    Default Re: Selling a yacht post Brexit - UK or within EU

    Quote Originally Posted by PaulReds View Post
    Hi
    We have a yacht which we plan to sell in 12-18 months. VAT was paid on her original purchase when new - 25+ years ago. She is currently in the Canaries and we plan to sail her back to mainland Europe and perhaps to the UK.

    I know we don't yet know how Brexit will pan out but is it likely to better for her to be based within the EU or in the UK. This obviously depends on who purchases her, but the larger market is in the EU. So if back in the UK there could conceivably be duty if she was imported into the EU.

    Any views? Please do not turn this into a Brexit discussion!

    Thanks
    Where can you get the best price, is the only consideration when selling anything, a boat is no different

  4. #4
    Join Date
    Feb 2004
    Location
    Boat (now back in) the Clyde
    Posts
    5,640

    Default Re: Selling a yacht post Brexit - UK or within EU

    What type of boat? For example, a U.K. built boat like Westerly or Moody etc likely to find most buyers in the U.K.
    Many more specialist boats like an Amel, an Arcona or X Yacht, and any catamaran more likely in rest of Europe.
    Lots of variants in between.

    Location on Brexit day seems to be the key thing for VAT status. Sounds like unlikely to be in U.K. on B-day, so if still in EU will retain EU Goods status
    Last edited by dunedin; 16-09-19 at 15:23.

  5. #5
    Join Date
    Aug 2013
    Location
    SW Scotland
    Posts
    19,645

    Default Re: Selling a yacht post Brexit - UK or within EU

    Quote Originally Posted by RupertW View Post
    The EU commission advice as interpreted by the Cruising Association says that in the event of a no deal every EU VAT paid boat will become UK only VAT on Brexit day if it is physically in the UK regardless of what flag it has, the nationality of owners or where the VAT was paid. If it’s in the EU it will be EU VAT but not UK paid.
    Why would the EU Commission have any say over UK VAT paid status?
    "Seamen are always wanting to do things the proper way; and I like to do them my way."

  6. #6
    Join Date
    Apr 2018
    Location
    Mooring, Faro
    Posts
    1,673

    Default Re: Selling a yacht post Brexit - UK or within EU

    Quote Originally Posted by RupertW View Post
    The EU commission advice as interpreted by the Cruising Association says that in the event of a no deal every EU VAT paid boat will become UK only VAT on Brexit day if it is physically in the UK regardless of what flag it has, the nationality of owners or where the VAT was paid. If it’s in the EU it will be EU VAT but not UK paid.

    If it’s in the Canaries (as ours is now) we are expecting it to be counted as EU VAT still.
    If it returns to the UK after Brexit under the same ownership, it will retain its UK VAT status as well as EU status but, one or the other will cease, depending on where it's sold.

  7. #7
    Join Date
    Jan 2004
    Location
    Med
    Posts
    6,202

    Default Re: Selling a yacht post Brexit - UK or within EU

    If it was me I would be looking at having the boat in the EU , if by any chance you found a buyer in the UK that wanted to keep the boat in the UK then do the deal in the UK .
    In this way your covered both ways .
    By what is being said it more the EU your going to have a problem with then the UK , who not that interested in VAT boats .
    You could also keep it n the EU on B day , get the prove you need then take it to the UK ?
    Warning forumite dyslexia near by
    www.bluewatersailorcroatia.webs.com

  8. #8
    Join Date
    Jan 2004
    Location
    Med
    Posts
    6,202

    Default Re: Selling a yacht post Brexit - UK or within EU

    Quote Originally Posted by Graham376 View Post
    If it returns to the UK after Brexit under the same ownership, it will retain its UK VAT status as well as EU status but, one or the other will cease, depending on where it's sold.
    This arguement been going about for some time , unless it's sold through a broker , who to say where the boat was sold ?
    Warning forumite dyslexia near by
    www.bluewatersailorcroatia.webs.com

  9. #9
    Join Date
    Jan 2012
    Location
    East Sussex
    Posts
    9

    Default Re: Selling a yacht post Brexit - UK or within EU

    Good thoughts everyone.
    She is a Hallberg Rassy 36 - so widely owned across Europe including the UK.
    I think the VAT may sort itself out. I wonder if I should be more concerned about tariffs - for example if I am importing from the UK into Europe or vice versa. This if course depends on what deal if any is done.
    Paul Redstone

  10. #10
    Join Date
    Aug 2011
    Location
    On the Celtic Fringe
    Posts
    14,324

    Default Re: Selling a yacht post Brexit - UK or within EU

    An EU national who had his boat in the same marina has moved his boat to the EU zone before B-Day, sounds a logical move now I read this.
    Cynical Scottish very nearly retired engineer who sails a Gib'Sea 96.

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