Thread: Formula 1
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Old 7th Nov 2017, 10:06
  #6253 (permalink)  
Join Date: Nov 2015
Location: Farnham, Surrey
Posts: 1,284
The Isle of Mann leader/minister/sommink (didn't catch that detail) was on the Today programme this morning stating that:

1. Exactly the same VAT "rebate" (not sure if it's a physical rebate or a non-payment) is available wherever this aeroplane initially landed in the UK - the VAT exemption has to do with its use, not its registry.

2. He said (and I really know nothing about this so I'm open to being corrected by someone who actually does) that the reason for first-landing in the IoM was to enable it to get an IoM registration, and it's the cost/benefit of that registration compared to a CAA one which is the issue - nothing at all to do with VAT.

Can anyone fill me in on the details of (2) above?


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