Reply
 
Thread Tools Search this Thread
 
Old 08 September 2013, 07:36   #1
Member
 
Country: UK - Wales
Town: st.davids
Length: 6m +
Join Date: May 2012
Posts: 24
advice needed on selling

My boat is up for sale, and someone has just been to look at it and is asking for vat receipts and bill of sale, none of which was given to me when i bought it 18 months ago, as i'd never bought a boat before i didnt know i needed it.

do i actually need these things to sell my boat?
__________________

__________________
surfer4life is offline   Reply With Quote
Old 08 September 2013, 07:55   #2
RIBnet supporter
 
MustRib's Avatar
 
Country: UK - England
Town: Newcastle
Boat name: Merlin
Make: RB4 Gemini 550
Length: 4m +
Engine: Tohatsu 90C
Join Date: Sep 2006
Posts: 1,048
maybe just to prove ownership...
caveat emptor and all that.
I bought my last Rib and the vendor had no proof of ownership, receipt or bill from the guy he bought it off. Sometimes boats change hands a few times, and when they get a bit longer in the tooth the original paperwork disappears.
Remember if he asks for a receipt from you, if buying it, to include the phrase
"as seen and approved" on it.
Am sure some of the trade members on here will have some much better advice than I can give. One will be along shortly am sure.
Good luck.
__________________
MustRib is offline   Reply With Quote
Old 08 September 2013, 08:24   #3
RIBnet admin team
 
Poly's Avatar
 
Country: UK - Scotland
Boat name: imposter
Make: FunYak
Length: 3m +
Engine: 2 stroke YAM 20 HP
MMSI: 235089819
Join Date: Sep 2005
Posts: 10,114
surfer4life,

You may find that with a well 'informed' buyer that those things help, but they are not absolutely essential. The more expensive the boat the more likely it is to be a concern. If the boat shows any signs of commercial use / coding then I would be keen to get the VAT issue verified. Otherwise, if I had no intent to take it out the UK then VAT would probably be less of a priority. If you want to take a boat to France etc even on holiday - then proving its VAT status is either very useful or essential depending on who you believe.

The RYA legal department should be able to provide further advice and 'template documents' if you are a member. If I was buying a high value asset without the required paperwork I would expect some "warranties" written into the bill of sale that indemnify me against you not being the legal owner, outstanding finance or VAT due.
__________________
Poly is offline   Reply With Quote
Old 08 September 2013, 08:36   #4
Member
 
Country: UK - Wales
Town: st.davids
Length: 6m +
Join Date: May 2012
Posts: 24
Thanks guys, he wants it as a tender for his bigger boat (mines an atomix 5m 2007) so i think he's used to this vat receipt and bill of sale as i imagine if he wants mine for a tender than his is worth big 's.

mine only has 1 previous owner which was the guy who imported them back in 2007 and was his demo boat, i think he's worried that it might have outstanding finance on it and think he is used to this vat issue on his bigger boat.

I've searched on google for some sort of boat hpi check but it appears it can not be 100% accurate so pointless.
__________________
surfer4life is offline   Reply With Quote
Old 08 September 2013, 10:34   #5
Member
 
Nick Hearne's Avatar
 
Country: UK - England
Town: Bucks
Boat name: Blue & Ding Dong
Make: Ribeye,SR4 & Bombard
Length: 6m +
Engine: 115,50 & 15Hp Yams
Join Date: Feb 2004
Posts: 3,242
I would say try going back to who you bought it from, if he had it as a demo boat he may not have paid the vat once he old it to you!
__________________
Member of the Ribeye supporters club!!!
Member of Bombard 380 Aerotec club
Member of SR4 club
Nick Hearne is offline   Reply With Quote
Old 08 September 2013, 13:28   #6
Member
 
Country: UK - Wales
Town: st.davids
Length: 6m +
Join Date: May 2012
Posts: 24
Thanks nick,

Surely the vat would have been paid when he imported it and the fact I imagine it was sold at less than what he paid for it 6 years later then vat would be owed to him not due, if he was vat registered, or am I missing something ( I probably am )
__________________
surfer4life is offline   Reply With Quote
Old 08 September 2013, 14:14   #7
Member
 
Country: UK - England
Town: Dorset & Hants
Boat name: Streaker/Orange
Make: Avon/Ribcraft
Length: 4m +
Engine: 50Yam/25 Mariner
Join Date: Apr 2007
Posts: 5,551
Was the chap who sold it you called Nigel?
__________________
PeterM is offline   Reply With Quote
Old 08 September 2013, 14:20   #8
Member
 
Nick Hearne's Avatar
 
Country: UK - England
Town: Bucks
Boat name: Blue & Ding Dong
Make: Ribeye,SR4 & Bombard
Length: 6m +
Engine: 115,50 & 15Hp Yams
Join Date: Feb 2004
Posts: 3,242
Quote:
Originally Posted by surfer4life View Post
Thanks nick,

Surely the vat would have been paid when he imported it and the fact I imagine it was sold at less than what he paid for it 6 years later then vat would be owed to him not due, if he was vat registered, or am I missing something ( I probably am )
If he was running a business then he may have claimed back any vat on it and had it down as a asset of the business he would then have to sell in including Vat to you! But may have just pocketed the money and not paid the vat!
__________________
Member of the Ribeye supporters club!!!
Member of Bombard 380 Aerotec club
Member of SR4 club
Nick Hearne is offline   Reply With Quote
Old 08 September 2013, 14:32   #9
Member
 
Kernow Buoy's Avatar
 
Country: UK - England
Town: Cornwall
Length: no boat
Join Date: Oct 2004
Posts: 1,518
I would imagine your prospective purchaser intends taking the boat abroad, apparently a VAT receipt can often be asked for.
__________________
Kernow Buoy is offline   Reply With Quote
Old 08 September 2013, 14:45   #10
Member
 
Country: UK - England
Town: Sussex
Make: RIBTEC 655
Length: 6m +
Engine: Yam 150
Join Date: Oct 2007
Posts: 1,157
You might have to try and find another buyer, most people have no idea about VAT invoices and bills of sale for small craft, though anyone from big boats will insist.

Not sure what the size cut off for needing one for either - plus if you went to look ant a vintage Avon SR4 that's change hands hundreds of times and asked for an original invoice I doubt you'd get one.

Buying a yacht is like buying a house and mostly done though a broker, you get all sorts of documentation, builders certificates, invoices, etc and they are like your deeds. Small boats are entirely different, mostly private sales and few have all the paperwork.
__________________

__________________
thomas is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off





Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -5. The time now is 14:06.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.