"They may not accept that as an export for VAT purposes… which means VAT is due." In this clip from episode 17 of the Berthon International podcast, Joe Francis (Director of VAT and Customs at PKF Francis Clark) breaks down that while the "12-mile dip" is widely used, it doesn’t always do what people think it does. From a customs perspective, it may reset Temporary Admission. From a VAT perspective, it can be a different story entirely. If it doesn’t qualify as an export, the VAT exposure can be significant. This is where assumptions start to get expensive. Full Episode: https://www.youtube.com/watch?v=MODo9VV_TTA Supporting Article: https://www.berthoninternational.com/berthon-blog/about-vat-is-the-uk-a-strategic-cruising-choice/ Guest: Joe Francis - Director of VAT and Customs at @pkffrancisclark Host: Tim Carbury, tim.carbury@berthoninternational.com, Tel: +44 (0)7780 221 282. #shorts #yachting #vat #yachtvat #hmrc #marineindustry #berthoninternational

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It was a spectacle that left the City of Livorno and even the Benetti Shipyard itself open-mouthed. Everyone there was amazed, bewitched and most importantly proud as they admired a stirring and unquestionably unique parade they are unlikely to ever see again. The three magnificent yachts, while preparing to cross the Atlantic on their way to the USA, showed themselves off in all their imposing and timeless beauty: mega yachts “Spectre” (69 meters long), “Seasense” (67 meters) and “11.11” (63 meters) paraded together in the waters off the Livorno Shipyard, inviting everyone to look out to sea and reflect on the result of long, impassioned and meticulous teamwork. It is a result the Shipyard decided to share with its co-citizens, who were captivated by this amazing sight and proud to be able to contribute in some way to it. The three exclusive models, representing an example of style admired the world over, enchanted and amazed everyone who had made a special trip or happened to be there by chance, and who are sure to treasure the emotions aroused by the three mega yachts for many years to come. There were also a few tears of disbelief and emotion to be seen on the faces of several shipyard workers who had contributed to these projects, and seen the fruits of their labour take shape day by day. The three magnificant works of art are tailor-made to satisfy the desires and represent the passions of their demanding, perfectionist owners; as well as embodying the dreams of every sea and yacht lover. Discover more: http://www.benettiyachts.it/

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Images embarquées de Fabrice AMEDEO

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