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Displaying items by tag: marine transport

Rules determining UK owned boats’ VAT status will be subject to change after 31st December 2020 and Global marine transport and logistics provider Peters & May has is reminding UK boat owners with vessels outside the UK that as the Brexit transition period comes to an end at 11 pm 31st December 2020, the rules determining boats’ VAT status will be subject to change.

The latest information available from HMRC is that from 1st January 2021 the rule that yachts must return to the UK within 3 years of having last left the UK/EU in order to be entitled to Returned Goods Relief (RGR) on duty & VAT will be strictly enforced.

‘Whether RGR is applicable will be dependent on it not having undergone any repairs whilst outside the EU that increased its value when it last left the UK/EU and the amount of time it has been overseas, the date of its reimport into the UK and whether the place from where is it returning is inside the Customs Territory of the EU,’ says the company’s Sea Freight and Customs Manager Adam Towgood. He continues, ‘In order to claim the VAT relief element of RGR, it must also have not changed ownership since it last departed. Where a boat does not meet RGR criteria, duty and VAT will be payable to HMRC upon reimport’.

HMRC has recently announced the grant of a 12-month extension exclusively for boats that are currently within the EU, having departed the UK before 31st December 2017. These now have until 31st December 2021 to be reimported to the UK and claim RGR.

As Afloat reported previously, Ireland could see an influx after Christmas of visiting boaters from Northern Ireland seeking to secure the VAT and duty status of their vessels as the Brexit transition period ends.

Adam continues, ‘To ensure that there is no VAT payable to HMRC on the reimportation of their boats we are urging UK boat owners to take early action. Owners need to be aware of the dates of their boats’ movements and time away from the UK and act accordingly to claim Returned Goods Relief. A summary of whether HMRC will allow a claim to RGR according to the departure and arrival dates has been posted to our website and shared on social media channels.’

Peters & May has availability on sailing schedules from the Med which will arrive in the UK before the end of December 2020. Owners choosing Peters & May as their transport provide will benefit from the company’s experts managing the Customs clearance process on their behalf.

The Peters & May team has experience working with HMRC and understands the relevant VAT rulings. An integral part of the company’s yacht transportation service is the completion of complicated paperwork on behalf of the owner.

Adam Towgood says, ‘Navigating the import process and paperwork can be a minefield for owners not accustomed to the technicalities and governing rulings. We work closely with our customers to ensure their boat’s journey home goes smoothly and all relevant legal documentation is completed.’

Further information may be obtained by visiting the HMRC website or the website of the UK’s National Governing Body for sailing, the RYA.

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Coronavirus (COVID-19): Irish Sailing & Boating

Since restrictions began in March 2020, the Government is preparing for a 'controlled and gradual return to sport' and the 2020 sailing fixtures are being tentatively redrafted by yacht clubs, rowing clubs angling and diving clubs across Ireland as the country enters a new phase in dealing with the Coronavirus. The hope is that a COVID-19 restrictions might be eased by May 5th as Sport Ireland has asked national governing bodies for information on the challenges they face. 

Coronavirus (COVID-19) information

COVID-19 is a new illness that can affect your lungs and airways. It's caused by a virus called coronavirus.

To help stop the spread of coronavirus (COVID-19) everyone has been asked to stay at home. But some people may need to do more than this.

You may need to either:

You do these things to stop other people from getting coronavirus.

Read advice for people in at-risk groups

Read advice about cocooning.

Restricted movements

Everybody in Ireland has been asked to stay at home. You should only go out for a few reasons, such as shopping for food.

But you need to restrict your movements further if you: 

  • live with someone who has symptoms of coronavirus, but you feel well
  • are a close contact of a confirmed case of coronavirus
  • have returned to Ireland from another country

You need to restrict your movements for at least 14 days.

But if the person you live with has had a test and it is negative, you don't need to wait 14 days. You should still follow the advice for everyone - stay at home as much as possible.

Close contact

This is only a guide but close contact can mean:

  • spending more than 15 minutes of face-to-face contact within 2 metres of an infected person
  • living in the same house or shared accommodation as an infected person

How to restrict your movements 

Follow the advice for everybody - stay at home.

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