Marine organisations within the UK and EU have come collectively to launch guidance on the EU VAT status of second hand boats following Brexit
Confusion over the EU VAT status of second hand boats following Brexit has led to main marine our bodies in Europe and the UK collaborating to problem new guidance.
The International Council of Marine Industry Associations (ICOMIA), European Boating Industry (EBI), European Boating Association (EBA), British Marine (BM) and the Royal Yachting Association (RYA) joined forces to supply clarification on EU VAT and customs for leisure boat house owners and corporations.
The group has created an inventory of eight key situations affecting boaters.
Their guidance and interpretation of how EU VAT needs to be utilized has been validated by the EU Commission, and may now be recognised by every EU nation.
Failure to take action might lead to formal complaints being made to the EU Commission.
The secretary basic of ICOMIA, Udo Kleinitz mentioned the trade ‘is affected by the adjustments in VAT regime via loss of boaters expenditure in marinas and tourism.’
‘Our members have requested us for assist on this matter which is why the collaboration with EBI, BM and the person organisations helps in elevating the profile and relevance of the subject with the relevant businesses,’ mentioned Kleinitz.
The following acronyms are used within the situations:
TPE = The time at which the transition interval ended – 31 December 2020, 23:00 UTC
VPS = VAT Paid Status: i.e. in free circulation
EU28 = EU earlier than TPE, i.e. together with UK
EU27 = EU after TPE, i.e. excluding UK
GB = England / Scotland / Wales excluding Northern Ireland
TA = Temporary Admission
RGR = Returned Goods Relief
UCC = Union Customs Code
The Union Customs Code referred to inside this doc can be found here.
Commenting on the collaboration, the secretary basic of the EBI, Philip Easthill, mentioned: ‘We are delighted to have obtained the responses from the Commission that firms and boaters urgently want.
‘Given the impression of Brexit on companies and provide chains, readability on VAT for second-hand boats is extremely necessary. The cooperation of EBI with our companions has been key and we are going to proceed to advocate for readability on VAT points via our channels at EU degree,’ he added.
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The CEO of British Marine, Lesley Robinson, mentioned the ‘readability obtained on VAT points post-Brexit will significantly profit British Marine members and the UK leisure marine trade.’
‘The solutions to those situations can be welcomed particularly by UK boat retailers and brokers to help in sustaining a wholesome commerce of second-hand boats throughout the UK and EU,’ she added.