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  • Yachting Monthly

    Your Brexit questions answered

    Aug 19, 2021 4 minutes

    Q What’s the difference between a boat and a caravan?

    As I understand it, Her Majesty’s Revenue and Customs (HMRC) classifies boats as commercial goods, which are liable to VAT, and caravans as personal possessions, which I understand are VAT-free. In my view, this is wrong.

    For example, if you are a UK resident who owns a caravan, HMRC would classify it, from a tax point of view, as being a ‘personal possession’. This means you could keep it in the EU for as long as you liked and bring it back to the UK any time you liked, free of any secondary VAT being charged.

    Should HMRC not treat boats the same way as it treats caravans when it comes to VAT?

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