Benjamin Franklin said that "nothing is certain in life except death and taxes". Sadly we can't offer a way to avoid the former, but we can help you navigate your way through the complex world of EU Value Added Tax (VAT) and Customs duties.
Taxation for aircraft transactions is complex and advising on aviation is complicated by the high value/high risk for advisors. This impacts purchases, sales, leasing, import and export, as well as dealing with unexpected challenges or changes in your clients' circumstances.
The tax team at Martyn Fiddler Aviation is comprised of Chartered Tax Advisors with over 70 years of combined experience. We will be able to assist you from beginning to end in identifying and resolving any potential pitfalls from a Customs and tax perspective and our colleagues will be able to support you in arranging any aircraft movements to achieve your end goals.
Our specialist aviation tax advisors can provide you with:
- Highly experienced industry and business aviation orientated advice from a specialist team well-known in the industry;
- Advice encompassing both VAT and Customs implications;
- Able to access and assist with advice in other jurisdictions/both sides of a cross border transaction;
- High level of indemnification;
- Helping you to supplement your normal offering to clients with reliable professional support;
- World-wide network of relationships with other specialist tax advisors.
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Be Prepared for 31 December 2020
In less than 4 months’ time the UK will leave the European Union (31 December 2020). At the time of writing there is no agreement in place to determine what the status of goods (including business aircraft) imported into the EU (including the UK and Isle of Man) before 31 December 2020 will be.
In the newsletter attached Martyn Fiddler Aviation outline the list of possible results, explaining the impact of each scenario and the work that will be requested of aircraft owners in order to remain in free circulation in both the UK and the EU.