The Treasury has finally decided that if a yacht is in the European Union on Brexit day, it will not be liable for VAT if it is brought back to the UK later.
As reported before, the Commission said recently that British yachts would lose their EU VAT-paid status unless they were in the EU on the day of a hard Brexit.
If they were in the UK they would no longer have the status of union goods and would be liable for VAT on visiting the EU, so the best they could do would be to apply for temporary importation for up to 18 months. Continue reading “Hard Brexit and boat VAT – Treasury response”
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