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Old 16-02-2014, 11:28   #76
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Re: Flag of Convenience

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Let me state for the record that I am not looking to commit fraud, skirt the law or anything else of a similar nature. I am trying to educate myself and avoid a possible costly mistake.
I feel like a man who asks the speed limit on two roads to see what the best route between two towns is and folks want to tell him not to drive dangerously because it's against the law.
Welcome to CF - Tee hee .

But to be fair, folks also writing for the wider audience.
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Old 16-02-2014, 11:30   #77
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Re: Flag of Convenience

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…….folks also writing for the wider audience.
Me too :-)
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Old 16-02-2014, 11:37   #78
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Re: Flag of Convenience

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Let me state for the record that I am not looking to commit fraud, skirt the law or anything else of a similar nature. I am trying to educate myself and avoid a possible costly mistake.
I feel like a man who asks the speed limit on two roads to see what the best route between two towns is and folks want to tell him not to drive dangerously because it's against the law.
By no means was implying that, but was just responding to the imaginative word in connotation with lawyers. An attorney can readily help you identify that. Educating oneself on the internet can have great benefit but can lead to costly mistakes. It's that one small detail that might get overlooked. We went through a relocation nearly two years ago and there were major tax implications.
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Old 16-02-2014, 11:40   #79
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Re: Flag of Convenience

Capt L

Forgive me if you have already covered this but I don't always get notifications of a new postings... So might I ask the question, just how much is your budget.

If you are talking £ millions then it is worth paying a lawyer to get a (tax) deal for you, because when you are in the mega rich bracket it seems normal tax laws go out of the window. If you are talking £50k then trust me you can negoatiate down the amount you are going to pay in tax.
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Old 16-02-2014, 11:46   #80
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Re: Flag of Convenience

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Capt L

Forgive me if you have already covered this but I don't always get notifications of a new postings... So might I ask the question, just how much is your budget.

If you are talking £ millions then it is worth paying a lawyer to get a (tax) deal for you, because when you are in the mega rich bracket it seems normal tax laws go out of the window. If you are talking £50k then trust me you can negoatiate down the amount you are going to pay in tax.
I am going to be allocating something in the region of $200k for the boat.
Given that VAT in the UK is 20% it's worth considering what I am doing before I do it.
I could of course buy something in Europe and sail away never to return, but the Suez canal is a tempting gateway to the East and I'd undoubtedly stray into EU waters.
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Old 16-02-2014, 12:03   #81
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Re: Flag of Convenience

Okay, so $200k is the budget... About £119k in proper money. Start looking at boats in the £150k tax paid asking price bracket and make offers. You will get a few knock backs but somewhere out there is an individual who will be glad of your offer.

I have just paid a little over £105k for a boat that was originally advertised at £139k (tax paid). This is not about being hard or unfair, your are simply stating to a seller how much you can afford and leaving it up to them to decide how much they need/want a quick sale.

At this moment in time I could point you in the direction of a certain boat 40ft+ that has air-con, 9kv genny, water maker, up to date electronics, you name it, it has it gizmos, all well within your budget.

But then you are going to ask me what boat type is it and that will result in dozens of replies from people saying "You don't want one of them, buy one of these".
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Old 16-02-2014, 12:07   #82
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Re: Flag of Convenience

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Okay, so $200k is the budget... About £119k in proper money. Start looking at boats in the £150k tax paid asking price bracket and make offers. You will get a few knock backs but somewhere out there is an individual who will be glad of your offer.

I have just paid a little over £105k for a boat that was originally advertised at £139k (tax paid). This is not about being hard or unfair, your are simply stating to a seller how much you can afford and leaving it up to them to decide how much they need/want a quick sale.

At this moment in time I could point you in the direction of a certain boat 40ft+ that has air-con, 9kv genny, water maker, up to date electronics, you name it, it has it gizmos, all well within your budget.

But then you are going to ask me what boat type is it and that will result in dozens of replies from people saying "You don't want one of them, buy one of these".
Thanks for that, seems just like buying a house eh.

As to this boat…...Come on, don't tease :-)
(PM welcome)
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Old 16-02-2014, 12:12   #83
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Re: Flag of Convenience

Ludd-
Welcome to the internet, first time on a forum? (VBG)

Actually it is more like "That town has one traffic light, set to turn red in less than half the state-mandated time from yellow. And this town is on a 55mph road, but drops to 40mph then 20mph inside of two tight curves without the required double warning signs. Oh, and there's also a school zone posted, to double your fines, even though there is no school in town." (Maryland actually has several of those, in areas with no schools and no residences, no school children, just a craving for double income from fines.)

The US's double standard for motor vehicle and boating registrations can be quite confusing for aliens, the same way the VAT and Schengen and the entire EU can be confusing for us. In many ways it was simpler when "Europe" was a checkerboard of monopoly monies and border crossings.

Just think of the US in the same way, there are 50 sovereign states, each with different tax schemes and policies. And eleven more "insular possessions" and Washington DC, to make 62 separate regulatory venues, plus our federal laws.

Study hard, there'll be a quiz on Monday morning. (G)
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Old 16-02-2014, 12:16   #84
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Re: Flag of Convenience

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Ludd-
Welcome to the internet, first time on a forum? (VBG)

Actually it is more like "That town has one traffic light, set to turn red in less than half the state-mandated time from yellow. And this town is on a 55mph road, but drops to 40mph then 20mph inside of two tight curves without the required double warning signs. Oh, and there's also a school zone posted, to double your fines, even though there is no school in town." (Maryland actually has several of those, in areas with no schools and no residences, no school children, just a craving for double income from fines.)

The US's double standard for motor vehicle and boating registrations can be quite confusing for aliens, the same way the VAT and Schengen and the entire EU can be confusing for us. In many ways it was simpler when "Europe" was a checkerboard of monopoly monies and border crossings.

Just think of the US in the same way, there are 50 sovereign states, each with different tax schemes and policies. And eleven more "insular possessions" and Washington DC, to make 62 separate regulatory venues, plus our federal laws.

Study hard, there'll be a quiz on Monday morning. (G)
And you wasted your 9,000th post on that

Isn't it all crazy.
I just want to buy a boat in the most sensible way possible and clear off.
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Old 16-02-2014, 13:04   #85
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Re: Flag of Convenience

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And you wasted your 9,000th post on that

Isn't it all crazy.
I just want to buy a boat in the most sensible way possible and clear off.
As you have been looking at American boats then I guess you are not in the mind set that the your ultimate purchase has to weigh 40 tonne with a keel the length of the Titanic to be capable of crossing oceans.

As it has been stated here so many times before there are thousands of modern production boats that cross the Atlantic (and other oceans) on a regular basis as safely as can ever be expected. I don't doubt for a moment some, older, less 'fashionable' boats do it in more comfort but just keep in mind what Sir Francis Chichester, of Gypsy Month IV fame, thought his iconic boat with its long keel was more than a bit of a pig to sail.

Yes, I will gladly send you a PM with the details of the boat that I would have bought last year had she been on the market then, but first watch this series of video from two young people (one who has never sailed before) who have just completed the North West Passage against all the odds.



Personally, I will never complain about a faulty door catch ever again.

And no, the boat I would recommend to you has no resemblance what- so-ever to theirs!!!!
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Old 16-02-2014, 13:08   #86
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Re: Flag of Convenience

Ludd, I will add what may be obvious but perhaps forgotten. IF you find a non VAT paid boat and sail it outside the EU for a number of years, if and when you do return to EU waters, the VAT due would be on an older (and presumably) less valuable boat; hence a lower VAT.

Also, it may be worth mentioning that VAT and sales tax or GST are quite different. VAT is generally paid once when the item is new or imported, while a sales tax or GST (in North America at least) is paid every single time an item is sold.
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Old 16-02-2014, 13:18   #87
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Re: Flag of Convenience

Alenka

Fantastic, now I will be up half the night watching the rest of the tale.
What a great couple, I so wish I was young again.
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Old 16-02-2014, 13:47   #88
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Re: Flag of Convenience

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Hi David
As I have said before (I think) I have no intention of staying long term in the EU wherever the boat comes from. I'm just really trying to find out how long I have got if I bought one in the Med. At first I thought it was 18 months but that only applies to non EU citizens. It would seem that it is now 6 months if I am coming in for any repairs or refurbs. If the time comes I will make sure I have that in writing from the revenue, of course dealing with the UK revenue is one thing but I'm not sure I would be confident of explaining it to a Portugese official.

Best would be (as you say) to buy one already vat paid or buy something in the Caribbean and do any re-fitting there and don't come to the EU with it.
Actually under IPR you can have upto to 3 years. Processing must dominate over storage so it would need working in for 3 years !!!

Dave
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Old 16-02-2014, 13:56   #89
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Re: Flag of Convenience

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Actually under IPR you can have upto to 3 years. Processing must dominate over storage so it would need working in for 3 years !!!

Dave
Thanks for that.
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Old 16-02-2014, 13:57   #90
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Re: Flag of Convenience

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Alenka

Fantastic, now I will be up half the night watching the rest of the tale.
What a great couple, I so wish I was young again.
Just watched 1 to 4

It's a must watch, truly inspiring.
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