After years of trying to work out what Brexit means for yachts, there are still some annoying issues yet to be cleared up, a month into the new regime.
The most vexed question is still VAT. Most of us do have an answer, though not the one we wanted: our boats lost their EU VAT status if they were not moored in a continental port when the transition period ended. That means that in future they can only be temporarily taken to EU countries.
But a minority is still in a potentially expensive limbo. These are the owners who have been away from the UK for more than three years, who may have to pay VAT for a second time if they return with a boat they bought and paid VAT on here.Continue reading “January – Brexit blues”