boats boats boats...

[AtW]

Atw will be your cabin boy!

Bah sock, what did I ever say to you?

[ASB]

Or pay YourCo a commercial rate when you're using it for your own personal use as opposed to chartering it out.

This is oft overlooked as an option. There is no BIK to pay if you pay YourCo to use the facility, which, as long as you don't take the p1ss could be a little below the market rate without attracting attention.

You can do better than that. If you don't mind sailing (groan) a little close to the wind you can get away with paying only the marginal costs. i.e. provided the cost to the employer of providing the benefit is met then there is no BIK. This can be substantially less than the commercial rate.

I think there was a case involing school fees where masters were provided free places for their children. Taxman wanted tax on the value of school fees, teachers wanted to pay based on benefit of pretty close to nil (i.e. marginal cost of a place). Teachers won. May be worth following up with the accountant.

[scooterscot]

Cheers...

[Sockpuppet]

Bah sock, what did I ever say to you?

Nothing. You just dont strike me as a drive voer to your house and beat you up kinda guy. Zeitghost on the other hand....

[AtW]

Quiet. Zeitghost will make canned food from you while eating starter comprising of a few alive mice...

[Paddy]

Atw will be your cabin boy!

He had plenty of experience.

http://www.youtube.com/watch?v=f6UPxdK65JU

[AtW]

He had plenty of experience.

Normally it's the other way around - the pigs will have you.

[minsky1]

HMRC have it covered ...

The sailaway boat scheme which was in the vat notes recently .....

http://customs.hmrc.gov.uk/channelsP...yType=document

Easy peasy - buy it, load it up with booze, food and bog roll, and anchor outside territorial waters for 12 months. Hey presto, you have a vat free boat.

Edited - I thought it was 2 months, but its 12.

[scooterscot]

The sailaway boat scheme which was in the vat notes recently .....

http://customs.hmrc.gov.uk/channelsP...yType=document

Easy peasy - buy it, load it up with booze, food and bog roll, and anchor outside territorial waters for 12 months. Hey presto, you have a vat free boat.

Edited - I thought it was 2 months, but its 12.

very interesting! thanks