Ali Hai of Deloitte & Touche answers some VAT questions recently sent into The Tax Journal and Indirect Online. If readers have any further questions please address them to claudia.veneziale@butterworths.com
I intend to buy a yacht in the UK and then to charter it in Majorca Spain. Where will I have to account for the VAT on the charters?
Your purchase of a yacht in the UK is likely to be a standard-rated supply for VAT purposes unless the yacht is to be exported to a place outside the EU. This is because in the UK a yacht being adapted for use for recreation or pleasure cannot be zero-rated as a 'qualifying ship' under Customs' current interpretation of the relevant...
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Ali Hai of Deloitte & Touche answers some VAT questions recently sent into The Tax Journal and Indirect Online. If readers have any further questions please address them to claudia.veneziale@butterworths.com
I intend to buy a yacht in the UK and then to charter it in Majorca Spain. Where will I have to account for the VAT on the charters?
Your purchase of a yacht in the UK is likely to be a standard-rated supply for VAT purposes unless the yacht is to be exported to a place outside the EU. This is because in the UK a yacht being adapted for use for recreation or pleasure cannot be zero-rated as a 'qualifying ship' under Customs' current interpretation of the relevant...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
