May 14, 2019
In order to offer yachts for sale ex-VAT, the VAT needs to be accounted for here in the UK. In order to manage this effectively, we have built a ‘Customs Warehouse’ for the yachts that we have for sale and this is now operating.
This gives the option of offering yachts for sale that can be exported on sale ex-VAT to clients using them outside the EU or for those who are non-EU and who wish to take advantage of the temporary importation arrangements in place in the EU for non-EU residents. If a yacht is being purchased by an EU national VAT can be paid at point of sale.
We would like to say a big thank you to HMRC for helping us through the processes and forms.
Here are some pictures of our new area which is secure, where the yachts will be housed. They can be viewed by prospective clients on a 7 day a week basis.
If you would like to know more about the process and the rules around selling your ex-VAT yacht here in the UK please do let us know. Because yachts are portable, we are able to market them internationally with help from our offices in the UK, France, Scandinavia, Spain and the USA. Keeping the yacht’s ex-VAT status intact means that she attracts a wider client base. For those buying for use in Europe it allows the purchase of a great yacht that would not otherwise be able to enter the UK to be sold.
If you would like to have further information about how the Customs Warehouse works and have a yacht you wish to place her for sale, please do call.
If you are interested to buy a yacht that is ex-VAT, again do contact us to discuss how the purchase process is managed.