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by ChrisH » 15 Apr 2018, 17:47

Thanks guys for the suggestions.

Views please on buying a boat without proof of vat paid?

Never saw it as an issue before but Richard from Southampton Waters for example will not sell a boat without it.?

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by Bigplumbs » 16 Apr 2018, 05:40

ChrisH wrote:Thanks guys for the suggestions.

Views please on buying a boat without proof of vat paid?

Never saw it as an issue before but Richard from Southampton Waters for example will not sell a boat without it.?

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Well on all my second hand boats I have just bought them like any other item. No mention of VAT at all as they are second hand. Not sure if I have done right but thst is what I did

Dennis
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by Bigplumbs » 16 Apr 2018, 05:41

ChrisH wrote:Thanks guys for the suggestions.

Views please on buying a boat without proof of vat paid?

Never saw it as an issue before but Richard from Southampton Waters for example will not sell a boat without it.?

Sent from my SM-G930F using Tapatalk


Well on all my second hand boats I have just bought them like any other item. No mention of VAT at all as they are second hand. Not sure if I have done right but that is what I did

Dennis
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by MartynG » 17 Apr 2018, 21:23

Without the original bill of sale and proof of VAT paid at the time the boat was new there is a potential issue if you take the boat abroad you may be required to pay VAT.
If bought and kept in the UK it is thought to be not a real problem .


However as said some brokers will not sell a boat without the required paperwork in place . Others will do so while stating no proof of vat in the advert which may effectively de-value the boat. If you think about it unless you are given the original receipts and documents and evidence of subsequent sales how do you know you are legitimately buying from the true owner of the boat.
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by ChrisH » 18 Apr 2018, 13:07

Offer on the Draco was rejected, and in fact someone else made an offer too rich for me.

Have now made an offer which is accepted on a Sealine 240 . Would prefer a diesel, but given my offer was low, I'm ok with that. She needs some tarting up. Will be needing reupholstering through out soon, cut and polish, and maybe some crazing sorting out. Looks like she has knocked the dock a few times too many.
But given what I want to pay I will not get a mint boat.
Last edited by ChrisH on 19 Apr 2018, 04:06, edited 1 time in total.
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by ChrisH » 18 Apr 2018, 18:11

MartynG wrote:Without the original bill of sale and proof of VAT paid at the time the boat was new there is a potential issue if you take the boat abroad you may be required to pay VAT.
If bought and kept in the UK it is thought to be not a real problem .


However as said some brokers will not sell a boat without the required paperwork in place . Others will do so while stating no proof of vat in the advert which may effectively de-value the boat. If you think about it unless you are given the original receipts and documents and evidence of subsequent sales how do you know you are legitimately buying from the true owner of the boat.
Yep. Agree . Must be tons of boats out there without vat paid proof though?

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by MartynG » 18 Apr 2018, 21:59

ChrisH wrote:. Must be tons of boats out there without vat paid proof though?


I find the lack of proper paperwork (and lack of service history) remarkable given the relatively high value of most boats.

But yes there are no doubt many boats with nothing to prove who owns them . Perhaps that is an intentional way to hide some money ?
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by Ianfs » 23 Apr 2018, 15:26

I find the lack of proper paperwork (and lack of service history) remarkable given the relatively high value of most boats.


I quite agree.

I think if you had managed to offer on the Draco, as it would have been built in Norway and they are not part of the EU, unless it was built before 1985 and proved to have been in the UK Dec '92 then I would want full details of its ownership and VAT paid docs. The Sealine is more likely to have first been sold in the UK and VAT paid then, as it was built here, but typically that won't actually prove anything to HMRC.

I'm guessing the Sealine is about a '94-'97 boat, is that right Chris? I would have thought there would be an original invoice with it, as prices new would have been about £25 - 35k depending on spec. therefore at those prices the owners should have kept receipts. Also guessing its current value at around £15-18k if HMRC did come after you that's a £3-4k bill if VAT hasn't been paid. There is also the problem that in the 21-24 odd yrs since it was built, it may have left the country and VAT claimed back or even that it was sold to business which also claimed vat back. However, this is very complicated territory and I am absolutely no expert.

For me these reasons are enough to make sure you have VAT paid evidence when you press the payment button on your PC and don't accept a Brokers word that paperwork is on its way. I've read a few posts from buyers who have been stung in this way.

Apart from that, I hope all goes well and we look forward to hearing from you. :D
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by ChrisH » 23 Apr 2018, 17:56

Ianfs wrote:
I find the lack of proper paperwork (and lack of service history) remarkable given the relatively high value of most boats.


I quite agree.

I think if you had managed to offer on the Draco, as it would have been built in Norway and they are not part of the EU, unless it was built before 1985 and proved to have been in the UK Dec '92 then I would want full details of its ownership and VAT paid docs. The Sealine is more likely to have first been sold in the UK and VAT paid then, as it was built here, but typically that won't actually prove anything to HMRC.

I'm guessing the Sealine is about a '94-'97 boat, is that right Chris? I would have thought there would be an original invoice with it, as prices new would have been about £25 - 35k depending on spec. therefore at those prices the owners should have kept receipts. Also guessing its current value at around £15-18k if HMRC did come after you that's a £3-4k bill if VAT hasn't been paid. There is also the problem that in the 21-24 odd yrs since it was built, it may have left the country and VAT claimed back or even that it was sold to business which also claimed vat back. However, this is very complicated territory and I am absolutely no expert.

For me these reasons are enough to make sure you have VAT paid evidence when you press the payment button on your PC and don't accept a Brokers word that paperwork is on its way. I've read a few posts from buyers who have been stung in this way.

Apart from that, I hope all goes well and we look forward to hearing from you. :D
Yep 1995. She has a vat invoice and a massive folder of paperwork. Owner accepted offer of 12k. So gave me room to get her tidied up. However. Over the weekend owner was checking her out post winter and found engine problems and a water leak probably from the water tank. As such has pulled out from the sale. So back to square one again.

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by shibbs » 23 Apr 2018, 19:38

That’s a shame to hear Chris, is it worth investigating and adjusting offer to reflect?
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