ChatterBank4 mins ago
licenced fishing vessel trading as a limited company
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can you vat register so as to claim back vat on purchases i.e. nets, diesel, repairs etc even though you do not charge vat on your catch
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Although I'm not in your industry and I claim to know little about it, I do know a bit about VAT.
Surely this link (below) from HMRC suggests that you don't have to be VAT-registered to get back the VAT on asset purchases, equipment specifically used for fishing and fuel?
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Surely this link (below) from HMRC suggests that you don't have to be VAT-registered to get back the VAT on asset purchases, equipment specifically used for fishing and fuel?
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Well there's something similar under UK legislation for veseels less than 15 tonnes here:
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The relevant bit of wording in that document is this:-
Group 8, Items 1 and 2 are based on Principal VAT Directive (Directive 2006/112) Article 148:
148 Member States shall exempt the following transactions:
a.the supply of goods for the fuelling and provisioning of vessels used for navigation on the high seas and carrying passengers for reward or used for the purpose of commercial, industrial or fishing activities, or for rescue or assistance at sea, or for inshore fishing, with the exception, in the case of vessels used for inshore fishing, of ships’ provisions;
b.the supply of goods for the fuelling and provisioning of fighting ships, falling within the combined nomenclature (CN) code 8906 10 00, leaving their territory and bound for ports or anchorages outside the Member State concerned;
c.the supply, modification, repair, maintenance, chartering and hiring of the vessels referred to in point (a), and the supply, hiring, repair and maintenance of equipment, including fishing equipment, incorporated or used therein;
d.the supply of services other than those referred to in point (c), to meet the direct needs of the vessels referred to in point (a) or of their cargoes;
http://
The relevant bit of wording in that document is this:-
Group 8, Items 1 and 2 are based on Principal VAT Directive (Directive 2006/112) Article 148:
148 Member States shall exempt the following transactions:
a.the supply of goods for the fuelling and provisioning of vessels used for navigation on the high seas and carrying passengers for reward or used for the purpose of commercial, industrial or fishing activities, or for rescue or assistance at sea, or for inshore fishing, with the exception, in the case of vessels used for inshore fishing, of ships’ provisions;
b.the supply of goods for the fuelling and provisioning of fighting ships, falling within the combined nomenclature (CN) code 8906 10 00, leaving their territory and bound for ports or anchorages outside the Member State concerned;
c.the supply, modification, repair, maintenance, chartering and hiring of the vessels referred to in point (a), and the supply, hiring, repair and maintenance of equipment, including fishing equipment, incorporated or used therein;
d.the supply of services other than those referred to in point (c), to meet the direct needs of the vessels referred to in point (a) or of their cargoes;
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