Sailing Boats: VAT

(asked on 25th November 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to Returned Goods Relief, whether leisure yachts that have paid VAT in the EU will retain EU VAT registration after the transition period.


Answered by
Jesse Norman Portrait
Jesse Norman
This question was answered on 30th November 2020
At the end of the Transition Period (TP), goods moving into Great Britain (GB) from the EU will be subject to customs duties including import VAT, unless a relief is available. Returned Goods Relief (RGR) will be available for goods returning within three years, including pleasure craft, on which UK or EU VAT has been paid. The Government has recognised the challenges faced by owners of goods in returning their possession to GB before the end of the TP in order to qualify for RGR. Accordingly there will be a twelve month period of grace allowing goods located in the EU at the end of the TP that return in 2021 to qualify for RGR regardless of when they left the UK, provided the other conditions for relief are met.
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