We understand that HMRC have put the IoM VAT office under considerable pressure to review their favourable views on the IoM Yacht Leasing Scheme, a deferment scheme, and that following that review the IoM VAT office has indicated that they will no longer support these structures and expects them to be wound up.
Whilst we will be speaking to our clients directly on this problem, anyone tied into an IOM lease that requires independent advice should contact us.
We must stress that this does not in any way effect the Malta VAT leasing scheme or bring it’s effectiveness into doubt. The Malta Scheme now remains the most attractive option for VAT mitigation.
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Recent News
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ECOSuperyacht Emissions Managment, a specialist in providing energy efficiency and emission management services throught it’s ECO Seas Programme, have appointed Ward & McKenzie to act as it’s exclusive surveyor to undertake all technical inspections on the yachts participating in this programme.
We would be interested to hear from anyone who has experienced a catastrophic failure of such an engine.
The French Customs authorities are conducting rigorous checks on all yachts in the Cote d’ Azur. The status of non EU domiciled owners is being checked. Residence in the EU, however temporary, by an individual or his family has given rise to claims for VAT and large penalties levied, even in circumstances where the TA [...]
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Why Ward and McKenzie ?
There are many ‘yacht surveyors’ on the market, what should you the client look for and why should you choose Ward & McKenzie? Marine surveys and being a marine surveyor of small craft is considered to be a profession, ask any good marine surveyor. However, . . .
