Swallow Yachts Association

Swallow Yachts Forum => General Discussion => Topic started by: Craic on 09 Dec 2008, 09:30

Title: VAT reduction
Post by: Craic on 09 Dec 2008, 09:30

That VAT reduction in the UK, I have a question.

Presently, the boats have become cheaper due to the VAT reduction.
But that reduction will expire ... end 2009?

Looking at the delivery times for the Swallow wood epoxy boats in general and at the BayCruiser 20 project in particular, how will the expiration of the VAT reduction affect orders put in today but finally fulfilled and delivered only after the VAT reduction has expired?

Title: Re: VAT reduction
Post by: Julian Swindell on 09 Dec 2008, 15:47

I am no tax expert, but I think everything is based on the date of the final invoice. If the invoice is issued before Jan 31, 2009, then presumably the 15% rate will apply. After that date, who knows what will happen? Who knows what will happen next week with the current state of things?

Title: Re: VAT reduction
Post by: Matt Newland on 09 Dec 2008, 20:12

I think Julian is right except that for Swallowboats it will be the date the final money is transferred, rather than the date on the invoice.

In the current climate I think the only safe thing to do with your money is to invest it in boats, preferably built by us!

Matt

Title: Re: VAT reduction
Post by: Tony on 10 Dec 2008, 00:01

Good idea. The price of "traditional" boats seems to be holding up quite well - especially compared to the "gin palace" end of the market.
Invest in boats it is, then!

( Er... What can I get for my £30 lottery win, Matt?)

Tony