VAT Planning

VAT

Import VAT is a business tax that is charged on any product or service.

Sold or imported into a territory and should therefore be considered in the context of high value assets when importing, or purchasing, a business aircraft in the UK or EU.

It is possible to reclaim the import VAT if the asset is to be used for business purposes by applying for a local VAT registration.

The VAT registration needs to be applied for by a company that is running a VAT registered business in the UK or IOM. It is currently only possible for the owner of the asset to reclaim the import VAT.

Consequently, this means that the VAT registration needs to be applied for and the import needs to be done on behalf of the actual owner.

Crucially, acquiring a VAT registration is not instantaneous. It is important to obtain relevant advice in advance of the VAT registration application so that you are fully aware of the paperwork and timescale requirements.

Normally, it would take at least five weeks to set up a UK or IOM company arrangement and get a VAT registration in place and accepted.

Other VAT Services & Advice

EU & UK VAT Advice

Specialist EU and UK VAT advice for high value assets, supporting acquisitions, sales, importation and cross border ownership structures.

Indemnified VAT Opinions

Formal VAT opinions and compliance guidance for complex ownership arrangements, helping provide greater certainty around tax treatment and potential exposure.

Cross Border Advice & Transactions

Cross border support for aircraft and yachts, coordinating regulatory, VAT and customs considerations across jurisdictions with trusted international specialists.

Who leads this work

Adrian Parcell-Jones

Tax Director

Adrian Parcell-Jones is a Director and Chartered Tax Advisor at Martyn Fiddler with extensive experience in VAT, customs and high value asset taxation.

He advises aircraft and yacht clients and contributes to tax committees.

Greta Kemper

Tax Director

Greta is Tax Director at Martyn Fiddler with over 30 years’ experience in VAT and customs.

Her background includes HMRC, tax advisory work and EU VAT legislation, bringing strong technical expertise to client matters.

Need to speak to our experts?

Whether you are acquiring a new asset, reviewing an existing ownership entity or planning for the future, our team is here to provide clear, confident guidance. A short call is usually enough to identify the right route.

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