Changing registration from Canada to the UK

[seagypsywoman]

Just wondering if it is a good idea to change my boat registration from Canadian to UK (I have a UK address). I'm planning to stay in Europe for many years and not planning to take the boat to Canada. Also, the boat was built in 1980 - will I still have to pay VAT? What other options should I consider? Malta? I would prefer not having to leave Europe every 18 months. Thank you.

[The Quiet Assassin]

Do not do this without more research. Are you going for SSR or full registration, where will be your port of entry to the EEC, when do plan to change registration and what passport will you be presenting to customs/immigration. All of these will change the answers.

Expect to pay some form of VAT and possibly import duty as well. There will be hurdles at 6 months as well as 18 months.

[goboatingnow]

The issue is nothing to do with 6 or 18 months.

It depends on your residency status. If you are working and already living in the EU ( and that includes teh Uk) and you are a EU tax resident, iepaying taxes to an EU gov. then within 3 days of importing the boat , ie basically the minute it arrives you will be liable for VAT on the "financial" value of the boat. If the boat has been in your ownership for some time, you can apply normal depreciation rules ( and even some more) to argue down the value of the vessel and the resulting VAT. The VAT will be due wherever you land the boat ( which technically might be the azores).

If you are in the process of moving to the UK and you intend to become tas resident ie you have a work visa, then you can apply to import your boat VAT free as effectively transferring your personal possesions into the EU.

Again it all is determined by your tax status.

The 18 months rule only applies to people who are visitors to the EU, they can stay for 3 months in any 12 ( 6 months in the uk) but the boat can stay for 18 months in the EU!!. ( before VAt isapplied)

However the depreciation rules can be used to very significantly reduce the VAT. However if you have just bought the boat then thats a problem as the market value has just be established and its difficult to argue that the boat is worth less.

PS The Quiet Assassin The "EEC" is gone a long time.!!