Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 24-05-2015, 09:16   #1
Registered User

Join Date: May 2015
Posts: 1
VAT to pay or not to pay

Hi
I have recently purchased a yacht which is based in Greece. It is not VAT paid!
It is registered in the UK. Does anyone have information on how to pay the said
VAT. IE Greece or UK

Many thanks
__________________

__________________
phased out is offline   Reply With Quote
Old 27-06-2015, 08:41   #2
Registered User

Join Date: Jun 2015
Location: Bury, Lancashire
Boat: Lagoon 380 S2
Posts: 52
Re: VAT to pay or not to pay

Hi there. We are looking at a boat in Greece with the intention of buying. Spent ages looking into VAT issues - its a nightmare. I think we will pay VAT in the UK as this boat is also "VAT not paid ".

There are various schemes for avoiding the VAT but I have read the HMRC website and they are onto these schemes. If you are sailing in the Med, you could be asked to show VAT paperwork at any time. Thats why we think UK rather than Greek VAT ( Its bad enough dealing with our Tax people - god knows what it would be like dealing with Greece's ).

Also need to know about leaving the EU - if you leave for more than 3 years then return, you could have to pay the VAT again !!!! You must apply to extend the period with the HMRC BEFORE you leave !
__________________

__________________
Haywoods is offline   Reply With Quote
Old 27-06-2015, 20:39   #3
Registered User

Join Date: Dec 2013
Location: Rogoznica, Croatia
Boat: Bavaria Cruiser 40
Posts: 619
Images: 16
Re: VAT to pay or not to pay

How can it be non VAT if it is UK registered and in an EU nation? That is not physically possible from my understanding having been through the VAT situation when Croatia joined.

I would suggest you double check the documentation is it may have been that the vessel was rated as "zero" for VAT due to age. However this is Greece and it has become clear how lax they are at collecting VAT recently.

If you do have to pay VAT then it will be at the rate of the nation state the vessel is purchased or imported into. So you will have to pay Greek VAT on the value perceived at the time by the authorities.

If you subsequently leave the EU for more than 3 years you will then be subject to VAT on your return so it is well worth planning any long trips around this fact. For those planning on going to the Caribbean it is worth noting that Guadaloupe and Martinique are both considered part of the EU as they are "Domaine Outre Mer" territories and part of metropolitan France. Therefore you are enetering French national waters.

Keiron
__________________
kas_1611 is offline   Reply With Quote
Old 28-06-2015, 04:21   #4
Registered User

Join Date: Jun 2015
Location: Bury, Lancashire
Boat: Lagoon 380 S2
Posts: 52
Re: VAT to pay or not to pay

According to the HMRC website, it is possible to extend the three year limit by applying to them before you leave. The vessel must return within the new agreed time period, must be owned by the person who took it out of the EU and must not be altered or improved apart from general maintenance.

My understanding is that the actual position of the boat within the EU does not matter - The vessel can be registered and VAT paid in any EU country.

There are schemes being offered by certain individuals to register boats with a Company formed in somewhere like Malta. It is actually stated on the HMRC website that they are actively investigating these schemes so be extremely careful.
__________________
Haywoods is offline   Reply With Quote
Old 07-07-2015, 15:46   #5
Registered User

Join Date: Jun 2015
Posts: 462
Re: VAT to pay or not to pay

If the previous owner was an off shore company or a non resident of the eu, the boat even in european water it's possible that has no vat payed on it..is it greece flag alright?
__________________
stefano_ita is offline   Reply With Quote
Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
How To Not Pay VAT In The EU? watervan Training, Licensing & Certification 17 29-03-2015 09:36
To Pay or Not to Pay ... Crew brishear Our Community 56 04-03-2012 19:20
Who Decides How Much VAT You Pay ? pablothesailor Dollars & Cents 4 24-07-2011 19:35
Register now - pay VAT later??? SVLiv Rules of the Road, Regulations & Red Tape 6 12-09-2007 05:21
How long do I have before I pay vat on new boat? Ram General Sailing Forum 0 09-06-2006 14:17



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 18:13.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.