Should we buy this boat? Opinions please!

[Tam & Di]

Whilton will I assume have bought the boat from a person who is not registered for business - a private individual. In which case the seller can't charge VAT just because Whilton is buying it - it would be the same if he were to sell to another individual. It is not possible for them to pay VAT to a non-registered person. However Whilton is bound to be registered for VAT and they must therefore charge VAT on anything they sell, and the fact that they did not pay VAY on the purchase does not enter into it.

I ceased to be registered for VAT about 25 year ago but I cannot believe things will have changed to that extent.

It is not the same as their profit for income tax purposes, which will indeed be the difference between what they paid and what they sell it for

[Geo]

Whilton will I assume have bought the boat from a person who is not registered for business - a private individual. In which case the seller can't charge VAT just because Whilton is buying it - it would be the same if he were to sell to another individual. It is not possible for them to pay VAT to a non-registered person. However Whilton is bound to be registered for VAT and they must therefore charge VAT on anything they sell, and the fact that they did not pay VAY on the purchase does not enter into it.

I ceased to be registered for VAT about 25 year ago but I cannot believe things will have changed to that extent.

It is not the same as their profit for income tax purposes, which will indeed be the difference between what they paid and what they sell it for

 

It depends on whether the item was bought from VAT registered person or a non-registered person as I understand it. If from a non-registered person the vat registered seller has a choice of charging vat on the full price or only on basically the profit.

 

This refers to car but I have seen others for secondhand goods. Mind you is a boat a vehicle https://www.gov.uk/government/publications/vat-notice-7181-the-vat-margin-scheme-on-second-hand-cars-and-other-vehicles/vat-notice-7181-the-vat-margin-scheme-on-second-hand-cars-and-other-vehicles

 

Of course I could be wrong vat is not my thing and highly complex.

 

ETA secondhand https://www.gov.uk/government/publications/vat-notice-718-the-vat-margin-scheme-and-global-accounting/vat-notice-718-the-vat-margin-scheme-and-global-accounting#the-margin-scheme-in-particular-trade-sectors-dealers-in-second-hand-caravans-and-houseboats

 

Section 19 refers to second hand boats

Edited September 13, 2016 by Geo

[Elixer]

 

Hello,

I'm very much a newbie after some expert opinions please.

Me and my fiance are buying our first narrowboat and looking to become continuous cruisers.

We've been to see quite a lot of boats now, but saw this 70ft Jonathan Wilson boat yesterday and are considering putting in an offer.

https://www.whiltonmarina.co.uk/used-narrowboats/details/3719.aspx

It's with Whilton Marina and they state they don't have a huge amount of history about her, so no recent survey to speak of, BSC till July 2018 (but they will issue a new one complete with sale) and she was last blacked and had anodes checked in 2013, so I guess that this is due again pretty imminently. She's got Eberspacher central heating and a Bubble stove at present. She seemed clean and dry inside, but I noticed that the wood frame which sits around the internal windows seemed to be missing and I could see the polystyrene insulation (this was dry to touch).

The sale would include a new BSC, engine service (a BMC 1.8 engine) and also if anything was found on survey which affects its current insurability they will do the works for free.

My concerns are that that the engine is old and might not be ideal for continuous cruising among other things, but my main concern is our lack of experience when it comes to buying a boat!

Any opinions or recommendations gratefully received, thank you very much !

 

 

I know I would.

[Lady Muck]

Hi Athy,

Thanks for your reply

I haven't steered one that long no - she was very long indeed.

In truth I was originally veering towards a 60ft, but was amazed by how spacious the 70footers are and fell in love a bit!

But in terms of finding a mooring, I am wondering if I may have to take a step back as I have also been told it's tricky to find continuous cruising spots as well.

Thanks Sir Percy. Yes I did ask, but they said that they did not know as the boat had been sold to them in that condition. It was the same for every window within the boat.

Thanks for picking up on that, it's great to be able to get some good advice, as this is all so new to me and it's a pretty steep learning curve!in more palces which is useful, because there are long distances between services and sometimes you need to turn back to use them.

Are you familiar with the cut in London? Cycle down the towpath and try to spot mooring spots, might give you an idea of whats a reasonable size of boat to cruise with. Many cruisers I know wont get bigger than 35-40 foot as it s a lot easier, you can spin them around in more places.

Usual caveat, I wouldnt want to start cruising in London, its just getting so, so packed.