Vat on boat bought in guernsey

Discussion in 'General Business Forum' started by KJMale, Jan 26, 2013.

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  1. KJMale

    KJMale UKBF Newcomer Free Member

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    Hi, I am hopefully buying a commercial fishing boat from guernsey this week to bring back to the uk and was just wondering if anyone can tell me how i go about paying vat on the purchase?

    I am vat registered in the uk so would i have to pay it then claim it back or would it effectively cancel itself out?

    Thanks

    Kirk
     
    Posted: Jan 26, 2013 By: KJMale Member since: Dec 27, 2012
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  2. Chris Ashdown

    Chris Ashdown UKBF Legend Free Member

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    There is no VAT in the channel islands so how can they charge it to you
     
    Posted: Jan 27, 2013 By: Chris Ashdown Member since: Dec 7, 2003
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  3. Scalloway

    Scalloway UKBF Legend Free Member

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    There may be import VAT. VAT depends on the size of the boat. If it has a gross tonnage of not less than 15 tons and is not designed for pleasure use there will be no VAT.
     
    Posted: Jan 27, 2013 By: Scalloway Member since: Jun 6, 2010
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  4. KJMale

    KJMale UKBF Newcomer Free Member

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    thanks for your replies. unfortunately the boat is under 15 grt so is not exempt. Any idea how you pay import vat?
     
    Posted: Jan 27, 2013 By: KJMale Member since: Dec 27, 2012
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  5. Merchant UK

    Merchant UK UKBF Ace Full Member - Verified Business

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    can you not just keep it registered in the channel islands, then you wont have to pay import duty?
     
    Posted: Jan 27, 2013 By: Merchant UK Member since: Aug 15, 2010
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  6. Scalloway

    Scalloway UKBF Legend Free Member

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    In the days when I used to work with finance for fishing boats the registrar was part of the Customs and Excise so you would have been able to kill two birds with one stone. I guess that you would need to contact HMRC.

    @MerchantUK. There is a sea of legislation surrounding the fishing industry nowadays so a UK skipper using a non EU vessel would probably have a lot of problems.
     
    Posted: Jan 27, 2013 By: Scalloway Member since: Jun 6, 2010
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