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Friday, December 31, 2010
The UK tax authority, HM Revenue and Customs has released guidance on the VAT treatment of ships and aircraft and associated services, which are supplied to the United Kingdom.
The extensive guidance details changes in HMRC's interpretation of UK tax law:
Section 3 is amended to cover a change in the meaning of a ?qualifying aircraft? with effect from January 1, 2011; Paragraph 4.2 is amended to clarify that the term supply includes import and acquisition; Paragraphs 4.5 to 4.7 set out how HMRC view qualifying status applying in certain scenarios; Paragraphs 4.8 and 4.9 are amended to clarify the policy in respect of chartering and supplies of transportation; Paragragh 4.13 and section 12 deal with the question of evidencing the status of a qualifying ship or aircraft; Paragraph 7.2 incorporates the policy on the supply of hand completed ships and aircraft first set out in information sheet 15/07; Paragraph 7.3 clarity the position of the Scottish Administration and the meaning of Government Department compared with State institution; Paragraph 8.4 is amended to clarify the meaning of the term ?port?; Section 10 is deleted as the place of supply of services is now covered A notice 741.The document also discusses aspects of cross - border taxation in relation to the two industries, and UK VAT protocols.
HMRC has said that the guidance in particular will involve:
Any business that provides ships or aircraft to the UK market. Goods or services for ships or aircraft; and Ancillary services for ships or aircraft.In particular, the guidance affirms 'qualifying' ships and aircraft are zero rated while non-qualifying aircraft and boats will be subject to the standard rate.
A 'qualifying ship' is legally defined as any ship:
Of a gross tonnage of not less than 15 tons; and, which is neither designed nor adapted for use for recreation or pleasure.A 'qualifying aircraft' is legally defined as being an change (civilian or military), or a helicopter, or banner, and which:
Is used by an airline operating for reward chiefly on international routes; However, Is used by a State institution and is of a weight of not less than 8,000 kg and is neither designed nor adapted for use for recreation or pleasure.The weight is its authorised maximum take-off weight. This is specified:
For civil aircraft - in the certificate of airworthiness in force for the aircraft; and for military aircraft ? journal released documents issued by the Ministry of Defence.The Guidance, available on the HMRC website, discusses in further details conditions that may apply in determining VAT liability; including, in addition, the liability of ancillary services, and goods and services provided to aircraft or ships.
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