Do your aircraft fly to Europe? Do you work on European transactions?
If yes, Martyn Fiddler Aviation will update you on the latest rules effecting entry and travel within the UK and European Union. Our experts will be attending NBAA-BACE next week (18-20 October 2022) to update lawyers, CPA’s, FBO’s and operators working on international aircraft transactions about all the recent changes which impact aircraft crossing borders or entering the European area.
Adrian Jones is Martyn Fiddler Aviation’s tax director and the only European to sit on the NBAA’s Tax Committee. Adrian will be providing key industry updates on all UK and European Union changes for business aircraft at the NBAA Tax, Regulatory and Risk Management Conference which precedes the main event. Adrian commented:
“No matter what the aircraft registration - ‘N-reg or VP-reg’ - crossing borders can cause a taxable event. I will be updating the conference about the latest rules, regulations and changes in both the UK and European Union and how the solutions in place before 1 January 2021 have changed.
We are seeing an increase in ramp checks, questions from customs officers and interest from tax authorities across Europe when it comes to business aircraft. Taking a risk on the tax or customs status of an aircraft is simply not worth it for our clients. I will be talking about this and much more next week.”
Adrian is joined by his colleagues Angie Deady-Fiddler (Customs) and Mark Byrne (Trust and Corporate) who are veterans of the event. Mark said:
“For more than 20 years, North America has been a key market for Martyn Fiddler Aviation. The transatlantic crossing for business aircraft is getting busier and the rules relating to the taxing of aircraft are more complicated than ever. Many US residents do not anticipate they could be ramp checked, grounded and taxed for European sales tax at an average rate of 20% of the aircraft value by simply landing in the European area. This does happen and the aircraft owner is often surprised.
Our clients use Martyn Fiddler Aviation’s specialist knowledge to avoid such circumstances and to ensure clients understand their liabilities and what solutions are available before arrival. We have been serving business aviation for nearly 40 years and are well known for providing high quality advice with long term tax and customs solutions.”
If you would like to meet with a member of the Martyn Fiddler Aviation Team then please do contact us to arrange and appointment. You can do this by emailing firstname.lastname@example.org
The information included in this article is considered true and correct at the date of publication; changes to rules and regulation made after the time of publication may impact on the accuracy of the information referenced or inferred to in this article. The information in the article may change without notice and Martyn Fiddler Aviation is in no way liable for the accuracy of any information printed or stored or in any way interpreted and used by the user. This article or the information contained in it is not provided or intended to be used as advice of any form.
If you have any doubts or would like to discuss any aspect of this article, please do not hesitate to contact one of our experts who will be happy to discuss your individual circumstance.