17 August 2007    |    Uncategorized

Fishing boats and fishing licences

The sale of a fishing boat is zero rated so long as the vessel is: –

(1) Has a gross tonnage of over 15 tons, and
(2) Is neither designed nor adapted for recreational or pleasure purposes

VAT 1994, Sch 8 Group 8 Item 1 and Note 1A; SI 1995/3039

The sale of the licence or quote is standard rated.

Disclaimer

The information provided is for general information purposes only.

Legislation and details may have changed since this was written.  The text may not include all matters that are relevant to your individual situation.

You should not make decisions, or refrain from making decisions, without taking further professional advice about your specific circumstances.

Glasgow
31 Lynedoch St.
G3 6EF

Kilmarnock
71 King Street
KA1 1PT

Stornoway
49-50 Bayhead
HS1 2DZ

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