Buying a boat from the EU
Discussion
I think this has been done before but just wanted to check.
I found a boat I'm interested in, but it's in Holland. I asked the broker what the issues were with bringing it to the UK, and how a p/ex with my current boat would work. He said:
'Purchasing a EU vat paid yacht, lying in the EU means an automatic export to the UK. So you will have to pay VAT and import duties on your yacht when you bring into the UK. Taking your Shetland as part exchange automatically means extra 21% vat + import duties as she would be imported into the EU.'
So it seems I'd be paying 41% VAT + 2x import duty - is that right?
What if the boat I was buying had VAT paid when the UK was in the EU?
I found a boat I'm interested in, but it's in Holland. I asked the broker what the issues were with bringing it to the UK, and how a p/ex with my current boat would work. He said:
'Purchasing a EU vat paid yacht, lying in the EU means an automatic export to the UK. So you will have to pay VAT and import duties on your yacht when you bring into the UK. Taking your Shetland as part exchange automatically means extra 21% vat + import duties as she would be imported into the EU.'
So it seems I'd be paying 41% VAT + 2x import duty - is that right?
What if the boat I was buying had VAT paid when the UK was in the EU?
It doesn't matter what VAT was paid pre-Brexit. It could have originally have VAT paid in the UK.
It's now in a foreign VAT regime, and that 's the end of it.
Just like buying a boat from say America any time this century.
There are a few exceptions for UK people owning boats based in euroland and bringing them 'home' to the UK or returning expats personal boats.
You could look at owning the boat and keeping it on the continent.
Or buying a new boat.
There are other issues than financial, to import a boat, it may have to meet emissions regs. That may mean a new engine.
There are many superficially bargain boats in the US on Yachtworld, a few people import them but it's not trivial.
It's now in a foreign VAT regime, and that 's the end of it.
Just like buying a boat from say America any time this century.
There are a few exceptions for UK people owning boats based in euroland and bringing them 'home' to the UK or returning expats personal boats.
You could look at owning the boat and keeping it on the continent.
Or buying a new boat.
There are other issues than financial, to import a boat, it may have to meet emissions regs. That may mean a new engine.
There are many superficially bargain boats in the US on Yachtworld, a few people import them but it's not trivial.
Thanks. Turns out the boat I was after is sold and there are unlikely to be any like it for some time. The broker writes: 'I dont think you will find an Antaris like this anytime soon... But with 2 years of lockdown, it is slim pickings on the boating market. Boat=last freedom'. On which we agree!
It dawned on me that whilst I might cop VAT and duty on an import, any VAT and duty on my current boat is for that buyer to pay - it will just go on the price they have to pay.
Emissions are unlikely to be an issue I think, firstly because I doubt that UK and EU regs have diverged, and also because it was a river cruiser with a 75hp Yanmar (as used in this country).
It dawned on me that whilst I might cop VAT and duty on an import, any VAT and duty on my current boat is for that buyer to pay - it will just go on the price they have to pay.
Emissions are unlikely to be an issue I think, firstly because I doubt that UK and EU regs have diverged, and also because it was a river cruiser with a 75hp Yanmar (as used in this country).
OutInTheShed said:
There are a few exceptions for UK people owning boats based in euroland and bringing them 'home' to the UK
Do you mean that a boat could be bought but kept overseas for a qualifying period, then imported free of tax? I remember a friend using this to get a Jaguar XJS to Australia many years ago.I think you are right with regards to emissions on boats in the EU. As the UK is continuing with EU legislation for the foreseeable,
This is worth understanding though
https://single-market-economy.ec.europa.eu/single-...
Boats from the US, it’s a different matter, as imports must pass emissions and noise – see above. I think there is also the small matter of all the hoses for everything have to be EU specification, and the shore power is 110V. Then VAT, import duty, shipping, inspection.
Our little syndicate of 4 gave up. The costs just kept coming.
This is worth understanding though
https://single-market-economy.ec.europa.eu/single-...
Boats from the US, it’s a different matter, as imports must pass emissions and noise – see above. I think there is also the small matter of all the hoses for everything have to be EU specification, and the shore power is 110V. Then VAT, import duty, shipping, inspection.
Our little syndicate of 4 gave up. The costs just kept coming.
Currently there is no Import Duty on boats coming from the EU to the UK, so you will only be liable for 20% VAT on the value of the boat and any transport costs to get it here (if being delivered by truck/ ship).
Until the end of this year, you do not need to worry about RCD when importing a boat from the EU (so emissions is no concern). From 2023 onwards all boats imported from the EU (And rest of world) will have to meet current UK RCD (or whatever they are going to call RCD), so that will almost entirely shut down any used boat imports to the UK except for nearly new boats.
With regards to your boat purchase. You can keep the boat in the EU inevitably with its EU VAT paid status. You could for example keep it there for a couple of years and then import back to the UK and pay the 20% VAT at its market value at the time of import, which should be lower than present.
If the company buying your boat (Px'ing) is based in the EU, then I suspect they will want the boat there to sell, so they would have to pay local import duty/ VAT on import.
Until the end of this year, you do not need to worry about RCD when importing a boat from the EU (so emissions is no concern). From 2023 onwards all boats imported from the EU (And rest of world) will have to meet current UK RCD (or whatever they are going to call RCD), so that will almost entirely shut down any used boat imports to the UK except for nearly new boats.
With regards to your boat purchase. You can keep the boat in the EU inevitably with its EU VAT paid status. You could for example keep it there for a couple of years and then import back to the UK and pay the 20% VAT at its market value at the time of import, which should be lower than present.
If the company buying your boat (Px'ing) is based in the EU, then I suspect they will want the boat there to sell, so they would have to pay local import duty/ VAT on import.
Thanks for the detailed reply. I'll advise the broker of the import duty issue, though as the boat has sold it's academic.
Hard to believe that UK emissions regs would be worse than the EU from next year, but you know more than me.
Keeping it in Holland for two years makes no sense; it would cost ££ to keep it there, I couldn't use it (and would have sold my current boat) and I don't think the value is going to fall by anything worthwhile in that time. And again, it's all academic now as Antaris 950s seem so rare.
Do you know what the import duty % will be after this year?
Antaris really should set up a UK subsidiary!
Hard to believe that UK emissions regs would be worse than the EU from next year, but you know more than me.
Keeping it in Holland for two years makes no sense; it would cost ££ to keep it there, I couldn't use it (and would have sold my current boat) and I don't think the value is going to fall by anything worthwhile in that time. And again, it's all academic now as Antaris 950s seem so rare.
Do you know what the import duty % will be after this year?
Antaris really should set up a UK subsidiary!
Simpo Two said:
Thanks for the detailed reply. I'll advise the broker of the import duty issue, though as the boat has sold it's academic.
Hard to believe that UK emissions regs would be worse than the EU from next year, but you know more than me.
Keeping it in Holland for two years makes no sense; it would cost ££ to keep it there, I couldn't use it (and would have sold my current boat) and I don't think the value is going to fall by anything worthwhile in that time. And again, it's all academic now as Antaris 950s seem so rare.
Do you know what the import duty % will be after this year?
Antaris really should set up a UK subsidiary!
UK emission regs wont likely be any different to EU. However from 2023, any boat imported must meet the current standards, not the ones that were in place at the time of manufacture. So a 20 year old Beneteau's engine wont meet current standards for example. Boats already in the EU won't suddenly have to meet the new standards, its the import to the UK that triggers this requirement. Hard to believe that UK emissions regs would be worse than the EU from next year, but you know more than me.
Keeping it in Holland for two years makes no sense; it would cost ££ to keep it there, I couldn't use it (and would have sold my current boat) and I don't think the value is going to fall by anything worthwhile in that time. And again, it's all academic now as Antaris 950s seem so rare.
Do you know what the import duty % will be after this year?
Antaris really should set up a UK subsidiary!
I don't know of any plans for HMRC to impose Import duty (Above 0%) on EU to UK based boat imports.
Simpo Two said:
...
You'd have to DYOR but I think if you live abroad for long enough then come back you can bring all sorts of stuff with you.OutInTheShed said:
There are a few exceptions for UK people owning boats based in euroland and bringing them 'home' to the UK
Do you mean that a boat could be bought but kept overseas for a qualifying period, then imported free of tax? I remember a friend using this to get a Jaguar XJS to Australia many years ago.Antares is Beneteau?
What size/model?
I am less well informed about power boats than sail TBH.
Maybe the UK brands held their own better in power than sail.
What is it about the Antares you prefer over the alternatives?
There is loose talk of Norniron being a potential VAT free import route, I'm sure it's a lovely place to base a boat....
Audis5b9 said:
Also, take a look at Nimbus boats or a Saga 29 - they may fit the bill and more readily available here?
No dice unfortunately; they have a fixed wheelhouse as opposed to being convertible, and I can't see one with a rear cabin. OutInTheShed said:
Antares is Beneteau?
What size/model?
It's this: https://www.boat24.com/en/catalog/detail/8453/ (though that page is 134 months old!). I think the layout is genius.What size/model?
Simpo Two said:
Something in the £90Ks, but I'd need to sell or p/ex the Shetland 27 which would cover most of it. The Antaris is what the Shetland would have been if I'd designed it!
Keep an eye out for a Swordsman 37 (Not a wooden Fairey, but the GRP Swordsman Marine Swordsman 37). You should get one in budget and its not far from the Antares. We normally sell 1 of these a year, and I think we've sold every one of the Swordsman 37's built at least once, bar 2 of the boats. You've missed this years boat, but another one will come along.. they always do.
Audis5b9 said:
We normally sell 1 of these a year, and I think we've sold every one of the Swordsman 37's built at least once, bar 2 of the boats. You've missed this years boat, but another one will come along.. they always do.
Good looking, but this one's over budget: https://www.boat.ag/details.php?id=56780 Bear in mind this is for inland use (6mph) so I don't need big engines, 1x 75hp is plenty.Simpo Two said:
Good looking, but this one's over budget: https://www.boat.ag/details.php?id=56780 Bear in mind this is for inland use (6mph) so I don't need big engines, 1x 75hp is plenty.
True 400+Hp is going to be terribly wasted, and wont appreciate running at minimal revs...Also that advert isn't real... its an old advert.
OutInTheShed said:
Simpo Two said:
...
You'd have to DYOR but I think if you live abroad for long enough then come back you can bring all sorts of stuff with you.OutInTheShed said:
There are a few exceptions for UK people owning boats based in euroland and bringing them 'home' to the UK
Do you mean that a boat could be bought but kept overseas for a qualifying period, then imported free of tax? I remember a friend using this to get a Jaguar XJS to Australia many years ago.Antares is Beneteau?
What size/model?
I am less well informed about power boats than sail TBH.
Maybe the UK brands held their own better in power than sail.
What is it about the Antares you prefer over the alternatives?
There is loose talk of Norniron being a potential VAT free import route, I'm sure it's a lovely place to base a boat....
Ended up finding a great boat a few hrs away in Ireland which was being sold for not far off 10k euros than what people would normally be asking, so I snapped that up.
I still wouldn't rule out buying from there, although it seems I would need to turn up at their door with a chequebook before they would even entertain selling to me lol
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