Ongoing lack of clarity from HMRC threatens a disastrous ripple effect across the pleasure boating sector and the marine industry, warns RYA and British Marine.
Traded second-hand boats between the UK and EU will now be required to meet the obligations set out in either the Recreational Craft Directive in the EU or the Recreational Craft Regulations in the UK.
HMRC announce 6-month extension to grace period for Returned Goods Relief regardless of good’s exit date that will benefit boat owners and the marine industry.
Following the successful cooperation on VAT and customs, the leading European, British, and international leisure marine associations continue to provide clarity on the new post-Brexit trade relationships.
Immediately following the 2016 EU Referendum, the RYA started to assess the issues and implications for the recreational boating sector arising out of Brexit. It became clear that there would be complex customs and VAT implications for some boat owners, travel implications and the late publication of the NI Protocol continues to take time to assess and seek clarity on specific issues.