» If the boat is not registered and you want to register her, will your broker/dealer take care of registration on your behalf? If not, who can he recommend to assist you?


» Consider specific training courses to help you get the most out of your boat. Visit www.rya.org.uk or www.marineleisure. co.uk to find RYA registered training providers


The purchase process can be different depending on whether you are buying a new or second-hand boat. The Royal Yachting Association (RYA) is able to provide its members with legal advice on all aspects of buying and selling a boat and discounts on such great publications such as “Buying a second-hand yacht” and “Buying a new yacht”. The BRBA, BMF, RYA and ABYA recently combined to produce a superb “New and Used Boat Buyers Guide” which aims to increase consumer confidence by helping you to ask the right questions when buying a boat. You can get a copy of this guide from the Yacht Brokers Village stand at this months Tullet Prebon London Boat Show in Londons Excel Centre. The Brokers Village will be in the South Hall, next to the Used Boat Marina in association with YachtWorld.com.


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.


Keeping up to date


One of the strongest principles common to both the BRBA and ABYA is training for brokers and dealers. Both have well established and detailed education programs 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


About the Associations


Association staff from ABYA and the BRBA will on hand on the Yacht Brokers Village (South Hall) at the Tullet Prebon London Boat Show which opens on 7th 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.


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


21st/22nd February 2011. 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 they are selling boats with confidence, whilst adhering to all necessary regulations and ensuring best practice. n


JANUARY 2011 YACHTWORLD.COM 3


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