Can anyone help with VAT on a boat purchase
- looking at a 16m monhull which was purchased in Holland
some 2.5 years ago and VAT was paid at the time.
The owners sailed around Europe
and then onto the Caribbean
where it was then sold in Antigua
about 9 months ago to a new owner who never used it and it is back up for sale
The broker tells us we would need to pay VAT on it if we brought it back to the EU - is he correct?
HMRC Notice 8 :
- says vessels LESS than 12m in length are liable for customs
duty when imported for outside the EU - does this mean most boats are exempt???
It also states boats VAT paid and re-imported back into the EU may qualify for relief if done within 3 years of export.
All advice most appreciated.