AOC
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Join Date: Sep 2010
Location: Europe
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AOC
Hi all again,
We imported our "N" registered plane in UK in 2009 at zero VAT rate. We´re flying Part.91, based outside the EU.
Next year, we´re receiving a new one but, since the law in UK changed at begining of this year, only the planes on AOC ("airline") are VAT exempt.
So, the only options are to enrole the plane in a management-charter company or create our own AOC.
Also, I´ve heard that if you import the plane in Malta you only pay 4% instead of 20% in UK.
Any recommendations?
Thanks all in advance.
We imported our "N" registered plane in UK in 2009 at zero VAT rate. We´re flying Part.91, based outside the EU.
Next year, we´re receiving a new one but, since the law in UK changed at begining of this year, only the planes on AOC ("airline") are VAT exempt.
So, the only options are to enrole the plane in a management-charter company or create our own AOC.
Also, I´ve heard that if you import the plane in Malta you only pay 4% instead of 20% in UK.
Any recommendations?
Thanks all in advance.
Join Date: Nov 2001
Location: Where the Money Takes Me
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This wholoe thing is still a can of worms as the legislators don't seem to have their ducks in a row. I would be very surprised to see an EU member still allowing benefits of low entry imports i.e. 4% but I might be wrong!
Join Date: Jan 2008
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In the UK at least you can have an offshore entity appoint an onshore company as VAT agent and still claim back the VAT even if you register the aircraft in the offshore entity.
Instead of talking about the AOC route, why don't you consult a VAT expert and get advise based on your principal's exact circumstances. Does your principal really want Joe Blow and his kids all over his aircraft just to recover the VAT when there are plenty of other options available?
Instead of talking about the AOC route, why don't you consult a VAT expert and get advise based on your principal's exact circumstances. Does your principal really want Joe Blow and his kids all over his aircraft just to recover the VAT when there are plenty of other options available?
Join Date: Apr 2008
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Could someone please tell me how to do open heart surgery?
.... Seriously, you need to NOT listen to anyone here regarding tax matters, and contact an accountant in your country who specializes in this type of tax situation. I watched a previous owner listen to his friends and end up paying huge tax penalties.
Yes, it will cost you money.
.... Seriously, you need to NOT listen to anyone here regarding tax matters, and contact an accountant in your country who specializes in this type of tax situation. I watched a previous owner listen to his friends and end up paying huge tax penalties.
Yes, it will cost you money.
