About the Associations
Association staff from ABYA and the BRBA will be manning a new HELP DESK on the Yacht Brokers Village (stand S045A) at the Tullet Prebon London Boat Show which opens on 8th January 2011 in Londons docklands. Alongside them will be a superb display of over 4,000 boats for sale from professional yacht brokers in the UK and Europe. There are more details at www.
yachtbrokersvillage.com.
The Association of Brokers and Yacht Agents (ABYA) is the UK professional association for brokers, dealers and distributors for both new and second-hand boats with over 150 individual members. It is the longest established by some margin, and is managed jointly with the Yacht Designers and Surveyors Association (YDSA). ABYA’s Chairman and Board are all practicing yacht brokers of many years standing and their membership includes brokers all over the UK and Europe. Individual members are required to hold Professional Indemnity and Public Liability insurance and operate a Client Account. Events to support members’ continuous professional development are organised throughout the year and the ABYA Code of Practice can be seen on
www.abya.co.uk as can a full list of members and details of their boats for sale.
The Boat Retailers and Brokers Association (BRBA) was formed by the British Marine Federation (see below) in 2006 to represent its member companies and individuals involved in the sale of new and second-hand craft. As well as encouraging the training and development of individuals working in this field, the BRBA aims to identify, debate and resolve the specific issues affecting the boat retail and brokerage sector. BRBA members have access to the full range of services and benefits provided by the BMF, including International development support, legal and commercial advice, statistics, research, training and technical information. The BRBA Code of Practice can be downloaded from
www.britishmarine.co.uk/brba.
The British Marine Federation (BMF) is the trade association for the boating industry. It has over 1,500 members drawn from both the seagoing and inland sectors of the marine industry. Members include boat builders, holiday providers, equipment and electronics manufactures, clothing manufacturers and support services such as insurance. The BMF Code of Practice covers everything from providing quality goods and services to charging fair prices. It can be downloaded from
www.britishmarine.co.uk.
The Royal Yachting Association (RYA) is for people who love being on the water, enjoying either the freedom of cruising or the thrill of racing, under power or sail. Above all, the RYA is there to help beginners and experts alike get the most from their time on water through a host of excellent member services/benefits and internationally renowned training courses. For more information see
www.rya.org.uk.
What are the rules concerning VAT and duty?
These are due when a boat arrives in the EU and so you need to see evidence that this has been paid. Double-check with the broker whether the advertised price includes VAT or excludes it. Ask him to show you the evidence that supports his answer. On completion of your purchase, you will receive the original VAT invoice (or a copy) as part of your title documents to prove that VAT has been paid in the EU, and ABYA advise that a certified copy should be kept on the boat at all times. The only exception is in Holland where you need the real thing on board! The HMRC National Advice Service is on 0845 010 9000 or
www.hmrc.org.uk. Duty is payable on boats under 12m, and is currently 1.7%. If you want to offer a boat for sale in the EU that is not VAT paid, ABYA
recently launched an innovative Customs Warehousing scheme (see p48) through ABYA brokers for this very purpose. The scheme frees the owner from paying the VAT up-front if he wants to bring his boat to the UK and offer it for sale. It is aimed at boats valued at £80k or over. Jane Gentry, Chief Executive of ABYA says, “As the potential buyer will want to inspect the boat, the scheme is set up so viewings can take place. Minor repairs and sea trials are also permitted, as is taking the boat to a boat show. The broker is required to keep ABYA aware of the boat’s movements and the VAT becomes due only on completion of the sale”. If the boat is sold out of the EU the VAT is never payable. Find out more at
www.abya.co.uk or see the separate article in this issue of YachtWorld Magazine.
Keeping up to date
One of the strongest principles common to both the BRBA and ABYA is training brokers and dealers, because both have well established and detailed education programmes for their members. Nick Ryley, Director of Brokerage and Franchising at Ancasta says “We send all of our new brokers to the Practical Brokerage Course run by ABYA very early in their career with Ancasta. This superb two-day course gives them a great insight into the legalities involved in changing title between two parties, including the insurance and finance elements involved. In fact, we often send our senior brokers back years later, in order to help them get updated on the latest developments!”
The next Practical Brokerage Course is in Southampton on 18th and 19th
October 2010. To reserve your space, call ABYA on +44 (0)1730 710425 or email
info@abya.co.uk.
BRBA members have access to a range of services including legal and technical advice, training and courses. Examples include the “Law Relating to Brokerage and Boat Retailers” course, invaluable for all brokers and retailers to attend, especially those new to the business. Access to these services allows BRBA brokers to ensure that they are selling boats with confidence and adhering to all necessary rules and regulations, as well as ensuring best practice and customer service.
SepTeMbeR 2010 YACHTWORLD.COM 5
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