Following the UK’s withdrawal from the EU, there have been many questions which have caused confusion and uncertainty for the leisure marine sector both in the UK and in the EU27.
Arguably, the biggest has been around the VAT status of yachts at the end of the transition period.
In an unprecedented declaration of unity, 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 provide clarification on VAT and customs for recreational boating companies and users.
The five organisations have taken the exceptional decision to release this guidance to members and non-members in an effort to clarify any uncertainty surrounding the VAT status of yachts following Brexit. A copy of this guidance can be found here on our website:
UK & EU VAT Status of Yachts Following Brexit
Please do not hesitate to contact us for further information.