The UK government has confirmed that from 1 January 2022, recreational boat owners will not be required to pay a second amount of UK VAT if their vessels have been outside the UK for more than three years.
Boat owners returning their vessels to the UK can claim relief from import VAT under returned goods relief (RGR) if they meet all the conditions for the relief. One of these conditions is that the goods or effects must normally be re-imported into the UK within three years of the original date of export. Continue reading “New VAT legislation is good news for UK boat owners”