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we bought a widebeam boat in 2010 we were told by the boat…

we bought a widebeam boat...
we bought a widebeam boat in 2010 we were told by the boat builder we could claim back our vat. we contacted the customs and excise office they told us the boat builder had to do this but since buying it the builder has gone out of buisness. the boat is our home. can you advise?
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Answered in 32 minutes by:
7/9/2012
Tony Tax
Tony Tax, Tax Consultant
Category: UK Tax
Satisfied Customers: 15,982
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
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Hi.

Take a look here and here (section 7). If your boat met the criteria outlined in the links, then the purchase should have been zero rated for VAT purposes and you should not have been charged VAT when you bought it.

If you have the invoice which should show the VAT registration number then you can try to make a claim for repayment of the VAT if your boat meets the criteria but I doubt that HM Revenue & Customs will accept it at this late stage.

The only other way you can reclaim VAT on the purchase of a boat is when you intend to charter it and provide ancillary services such as food etc.

Let me know if you have any further queries.
Tony Tax
Tony Tax, Tax Consultant
Category: UK Tax
Satisfied Customers: 15,982
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
Verified
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