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Yes I of course. I start with the £100k+ I saved in French VAT
MP dodges TAX
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That's intriguing! How did that come about?
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
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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’ve posted before btw.
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.
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
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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.
Though my passport is getting a bit full with all the stamps.
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Yes I can. Though I can’t take credit. I used a broker to sort it out.
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?
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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
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
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Getting the £1500 into perspective.
Michelle Donelan's false Hamas claim about academic cost taxpayer £15,000
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.
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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.
