Aussie flagged, buying in Panama, Brit purchaser...

[boatman61]

Theres plenty of folks wandering around with the simple SSR.. it lasts 5years.. theres zero checks so whos to know.. just need a UK address and card to register.

[settlednomad]

Originally Posted by boatman61

Theres plenty of folks wandering around with the simple SSR.. it lasts 5years.. theres zero checks so whos to know.. just need a UK address and card to register.

My comment was a little tongue-in-cheek and light-hearted. The SSR option is less complicated and much cheaper. It's certainly the option I'd consider above others.

I am living/working/paying taxes in the UK so I'm about as resident as they come. Getting myself on the SSR should be fairly straightforward - it was for my last boat.

[El Pinguino]

Originally Posted by kryg

You guys are looking at this the wrong way, why go back the UK? Live where there is great sailing year round, (Mostly) Migrate to Australia.
Forget the VAT. the GST is paid and as the boat is an Australian boat it would be ship regirested. No duty and sunny skys no Brexit issues.

Heading off at a bit of a tangent... how long can a boat be out of Australia before it has to be re-imported? I have heard 8 years but have never had it confirmed....

[Nordboen]

Originally Posted by boatman61

For SSR its pretty straight forward.. just fill in rhe online form and pày by card..
Regarding VAT.. you will be liable on return.. if we are still in the EU.. if not.. who knows in 5years what the taxes will be.
Currently I believe 2years is the maximum one can be outside EU waters before becoming liable.

No its 3 years

[Nordboen]

No, its 3 Year

If you think EU

[Taichungman]

Originally Posted by settlednomad

Hi Forum,

The net has tightened on our perfect (to us) boat. We plan to fly to Panama next month to view and hopefully purchase. The question isn't about the boat, per se, more the process and pitfalls of the deal. It all seems a little complicated on paper!

The boat is Australian flagged, it is currently (will be sold in) Panama, I am British and will register it on the UK SSR. What should I be aware of with regards any taxes to be paid in that country and subsequent VAT implications when I eventually return to the UK? I will be buying through the broker. The boat is a Moody which I assume was built/registered/VAT paid back in 1991. Does this exempt me from VAT when returning in say 5 years time? I have read that there are certain conditions where they'll waive the charge. It all seems a bit grey...

__________________________________________________ _______

Please post the results of your trip next month and let us know how the transaction went. I have thought about buying in Panama also but worried about how it might turn out. Hope it all goes well for you.

[settlednomad]

Originally Posted by Taichungman

__________________________________________________ _______

Please post the results of your trip next month and let us know how the transaction went. I have thought about buying in Panama also but worried about how it might turn out. Hope it all goes well for you.

I absolutely will do. From speaking to both broker and owner - as well as continual research of my own - it seems fairly straightforward. I just hope she's all I've hoped for and that a deal can be sealed. Fingers crossed!

My only hang up is the amount of VAT to be paid on my return to the UK in a few years time. This is a chunk of money I'll need to put aside now as I don't intend working while travelling (even though I can).

[Taichungman]

Originally Posted by settlednomad

I absolutely will do. From speaking to both broker and owner - as well as continual research of my own - it seems fairly straightforward. I just hope she's all I've hoped for and that a deal can be sealed. Fingers crossed!

My only hang up is the amount of VAT to be paid on my return to the UK in a few years time. This is a chunk of money I'll need to put aside now as I don't intend working while travelling (even though I can).

++++++++++++++++++++++++++++++++++++++++++

Cheer up mate, maybe you'll never make it back to the UK.

[SimonV]

Originally Posted by kryg

You guys are looking at this the wrong way, why go back the UK? Live where there is great sailing year round, (Mostly) Migrate to Australia.
Forget the VAT. the GST is paid and as the boat is an Australian boat it would be ship regirested. No duty and sunny skys no Brexit issues.

Not quite, any vessel purchased outside of Australia even Australian registered, are required to be re imported even if bought by an Australian. Customs change the rules all the time.

[SimonV]

Originally Posted by El Pinguino

Heading off at a bit of a tangent... how long can a boat be out of Australia before it has to be re-imported? I have heard 8 years but have never had it confirmed....

there is no time limit as long as the returning boat is s still owned by the owner who took it out of the country. Make sure you have access to the departure documentation. I just delivered a hunter 46 from Asia where it had been for 11 years. All Customs officers were interested in was the boat was still owned by that person. Even better if you have the original "D" notice for its original importation if manufactured outside or Oz.