I am considering several motor
yachts in the 30 m + size and most appear to be non VAT. However, a couple say VAT paid & European flagged. My question relates to the advantages of buying
a used vessel for which VAT has been paid and using it for charter
& private usage. Is the main benefit the ability to leave the vessel based in an EU location? I have duel Australian & UK passports, so does it help for visa free travel and duration in the Schengen area? Can I change registry to say Marshall Islands
without spoiling any current
advantage? The vessel of most interest in UK registered & paid.
I assume it means the vessel & crew can operate charters in EU waters under the current
arrangement, so long as VAT is paid on charter
bookings & remitted to the appropriate national tax authorities. If that is the case, are my fuel
, supplies & running VAT costs whilst on charter able to be claimed back as operating expenses against the VAT collected on the charters?
I understand that if I was purchasing
a new boat that the VAT could be claimed but I am only contemplating a used vessel.
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