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BARGES: All about barges and barging - building, buying, maintaining, equipment, handling on the water, etc.
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TOPIC: VAT Notice 744C interpretation help?

VAT Notice 744C interpretation help? 11 Mar 2020 15:37 #114354

  • Balliol Fowden
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Tam Murrell wrote: Strictly all that is required is a receipt marked that VAT has been paid. The fact that the UK rate for certain items including craft of a certain size is zero % is neither here nor there.

It will of course change for craft built after the end of the year when the UK becomes a 3rd world country, as VAT will not then have been paid within the EU.

Tam


Whilst not obligatory I would suggest that qualifying ships, certainly smaller ones, should carry a tonnage certificate or some form of declaration that the vessel exceeds 15 tonnes. If already UK Part 1 registered then you will of course have this already.

`Without wishing to embark upon any form of Brexit based argument in respect of our economic prospects, can I put my pedantic trilby on and remind Tam that we will not by definition become a Third World Country, just a Third Country, as are many Scandinavian countries.

Balliol.
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VAT Notice 744C interpretation help? 11 Mar 2020 14:38 #114350

Strictly all that is required is a receipt marked that VAT has been paid. The fact that the UK rate for certain items including craft of a certain size is zero % is neither here nor there.

It will of course change for craft built after the end of the year when the UK becomes a 3rd world country, as VAT will not then have been paid within the EU.

Tam
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VAT Notice 744C interpretation help? 11 Mar 2020 13:09 #114348

Actually on the topic of VAT, what paperwork is required for 0 rated (especially when going to EU.)
Is there a specific form that should be signed by the builder?
The boat builder has said the invoice which stipulates 0 rated, the signed conformity statement and the form we signed declaring it's use were all that is required.

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VAT Notice 744C interpretation help? 11 Mar 2020 12:13 #114347

  • Wren Montgomery
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Thanks, Andy!

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VAT Notice 744C interpretation help? 11 Mar 2020 12:11 #114346

Yes - the work is appropriate for zero-rating.
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Best Wishes
Andy Soper
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mv Neeltje
Coookham
0044 (0) 303 666 0636

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VAT Notice 744C interpretation help? 11 Mar 2020 12:01 #114344

  • Wren Montgomery
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Hi all--

We are a qualifying ship under 744C (that's not the question). Our existing engine (Lister JP3M) block is not in as good a shape as it could be, and we lucked into a spare engine. The bottom half of that engine is now with an engineer being reconditioned, with the goal of sticking the best bits of both together to have the best possible JP3M going forward.

The question then: is it appropriate to ask the engineer if they will 0% rate the work done, or have I misinterpreted 744C? (As an American I am prone to injecting complexity into the tax code.) Obviously they can say no anyway but I'd like to understand how the VAT notice applies (or doesn't) in any case.

Thanks! This is a little urgent as I would like to settle the first invoice promptly without being a difficult customer.

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