A change to the VAT Sailaway Boat Scheme with effect from 1 January 2012 is explained in Revenue & Customs Brief 38/11. A concession allowing a VAT-registered business to zero rate the supply of a sailaway boat to a UK resident who intends to keep it outside the EU will be withdrawn, but a business can zero rate the supply of a boat to a UK resident provided that it meets the conditions for zero rating a direct export, HMRC said.
A change to the VAT Sailaway Boat Scheme with effect from 1 January 2012 is explained in Revenue & Customs Brief 38/11. A concession allowing a VAT-registered business to zero rate the supply of a sailaway boat to a UK resident who intends to keep it outside the EU will be withdrawn, but a business can zero rate the supply of a boat to a UK resident provided that it meets the conditions for zero rating a direct export, HMRC said.
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