MP dodges TAX

[motorbiking]

You didn't manage to think about all the extra benefits whilst you had 5 minutes to think about it?

Thought not.

We keep getting told, it's not much difference (which equals its actually worse) but never anything that's better.

Yes I of course. I start with the £100k+ I saved in French VAT

 

[JonathanM]

Yes I of course. I start with the £100k+ I saved in French VAT

That's intriguing! How did that come about?

 

[Notch7]

Yes I of course. I start with the £100k+ I saved in French VAT

When I bought stuff from EU, the invoice was paid net.

For cash flow purposes it was beneficial to buy materials from EU than it was from UK


In any case VAT registered businesses don’t pay VAT, so you must’ve saved it on a personal basis…..not sure how

 

[motorbiking]

Just as I was posting how, a tax expert popped up and told me it wasn’t possible. So I must have dreamed it.

I’ve posted before btw.

 

[Notch7]

Yeah brexit is terrible, like you I queued an extra 5 mins to get my passport stamped this week.

Brexit has significantly increased trade barriers:

Rules of origin
ATA carnets
Loss of cabotage rights
SPs controls
Transit documents
Customs declarations

I’d be interested to see how you think that’s a benefit.

 

[Notch7]

Just as I was posting how, a tax expert popped up and told me it wasn’t possible. So I must have dreamed it.

I’ve posted before btw.

I didn’t say it wasn’t possible

I’m sure you can explain how you did it.

I know it’s possible to reclaim vat on purchases in France etc, but It’s not particularly straightforward and as far as I know you have to go through a VAT refund provider, which charge a commission.

It would benefit very few people

 

[motorbiking]

I can only speak about my personal experience as someone who travels overseas several times a month. It’s really no bother.

Though my passport is getting a bit full with all the stamps.

 

[motorbiking]

I didn’t say it wasn’t possible

I’m sure you can explain how you did it.

Yes I can. Though I can’t take credit. I used a broker to sort it out.

 

[JonathanM]

Just as I was posting how, a tax expert popped up and told me it wasn’t possible. So I must have dreamed it.

I’ve posted before btw.

Can you explain again? I'm useless with VAT and import/export rules etc. I've done a quick search for old posts. I thought you were a lawyer. But is it something to do with yachts?

 

[motorbiking]

Yes you can export a boat vat free and keep it in the EU. This wasn’t possible when the U.K. was part of the EU.

Under EU rules as long as you take it out regularly you do not have to import it and pay vat. A few trips to turkey with a fuel top up is sufficient to prove you left and the clock stops and resets. You do this until you either sell it “VAT not paid” or permanently import it somewhere and pay VAT at the second hand value.

It’s called the sail away scheme

 

[carmanmemoranda]

Getting the £1500 into perspective.

Michelle Donelan's false Hamas claim about academic cost taxpayer £15,000​

 

[Notch7]

Yes you can export a boat vat free and keep it in the EU. This wasn’t possible when the U.K. was part of the EU.

Under EU rules as long as you take it out regularly you do not have to import it and pay vat. A few trips to turkey with a fuel top up is sufficient to prove you left and the clock stops and resets. You do this until you either sell it “VAT not paid” or permanently import it somewhere and pay VAT at the second hand value.

It’s called the sail away scheme

So a benefit that is essentially a loophole

It’s a benefit to about 0.00000001% of the U.K. population, the remaining 99.999999% are worse off

But then we always knew Brexit was simply a vehicle for the rich to make money out of the chaos.

 

[carmanmemoranda]

So a benefit that is essentially a loophole

It’s a benefit to about 0.00000001% of the U.K. population, the remaining 99.999999% are worse off

But then we always knew Brexit was simply a vehicle for the rich to make money out of the chaos.

Exactly that.

And yet more taxation (luxury goods) goes away from where its needed

 

[ajohn]

It’s called the sail away scheme

Do you have a cheaper one to get there? What are your travel costs.

Anyway it's not a saving that would appeal to a lot of people.

 

[JohnD]

Bra Baroness, perhaps.