Re: VAT status on a colvic yacht

Russell Cannell wrote:

I am currently fitting out a yacht (Colvic countess 28) The boat was
moulded
in 2000 and had been through various owners each of them adding equipment
and structure. I aquired the yacht from a broker who stated that the
original hull purchase invoice from colvic had been lost. He sold me the
yacht with a receipt which did not indicate whether VAT had been paid.. I
subsequently asked for a VAT receipt and was told that it wasnt applicable
to a hull moulding where the original moulding receipt had been lost. The
yacht is about 50% complete and i anticipate a launch date early next
year. My question is how can i go about proving the VAT status should i
want to take the yacht abroad? Or will i have to fork out VAT on the
estimated finished value...!!!

Does the Colvic company still exist? Can you not go to them with the
hull identification number and get them to issue you with a copy of
the original VAT receipt?

Businesses are required to keep accounting records for at least 6
years so if the hull was made in 2000 they may well not have tossed
them out yet.

.