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Cabrinha06

Buying overseas

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Yes. Tax paid in another jurisdiction is irrelevant.  You are importing into NZ....

Not entirely irrelevant, you get to claim it back on departure. If you're exporting the boat from the UK you claim the VAT back and then pay the GST when you import the boat to NZ.

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unfortunately not so (from UK gov website):

 

Goods you can’t get a refund for

 

You can’t get a VAT refund for:

 

mail order goods, including internet sales

goods you’ve already used in the EU, such as perfume

service charges, eg hotel bills

new or used cars

goods worth more than £600 exported for business purposes

goods to be exported as freight

goods that need an export licence (except antiques)

unmounted gemstones

gold over 125g, 2.75 troy ounces or 10 tolas

a boat you plan to sail to a destination outside the EU

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As far as I can see you need to use the "sail away scheme"  the "retail export scheme" doesn't allow for car or yacht export. The berthon website has a good article on the position of the UK gov and it's new point of view regarding VAT. Since the global financial meltdown apparently they got a bit stingy and plugged a few leaky holes in the tax net. 

It is years and years since I was In the UK boat business and if some one was really serious about going to the UK and buying a boat to bring back here and they listened to advice from a bunch of people from an internet forum you'd have to wonder how they accumulated the money in the first place or how they would find their way back home.

It was interesting in the berthon article how the UK government is asking for proof of paid vat on boats and accessories. I don't know how many yachts in the NZ fleet have the original receipt showing the paid GST and for the dinghy, the outboard, the new cooker, the epirb etc etc.

 

http://www.berthon.co.uk/berthon-blog/yacht-sales-brokerage-yachts/vat-and-all-that/ 

https://www.gov.uk/government/publications/vat-notice-7032-sailaway-boats-supplied-for-export-outside-the-eu

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Hello

 

 

Does anyone know in what order all this charged, I think GST is last? I mean, let's say you paid $200,000 for a boat. Sailed it hear so no shipping costs.

 

$200,000NZD x 1.05 (Duty 5%) = $210,000

$210,000NZD x 1.15 (GST 15%) = $245,100

 

Plus of course MPI Biosecurity clearance fees which would be taxed as well.

 

If shipped here that would be added to the total cost of the vessel before charges applied.

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Here's an example

 

A particular vessel being sold here for $675,000NZD

 

Currently being offered overseas for $447,908NZD

 

$447,908 x 5% = $470,303

$470,303 x 15% = $540,849

 

MPI costs negligible

 

Savings $134,152NZD

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