Sell my N-reg Mooney in UK

@Nickmatic have you been able to secure the paper(s) showing the plane was part of your household move? (Ie no extra VAT to be added on)

If it was imported as part of household goods it will be documented.

This plane ticks about all my boxes, save for: 1. N-reg, 2. the VAT situation.

BeechBaby wrote:

OliverB wrote: Any competent Spanish tax adviser should be able to answer that question with some research.

Mmmmmmm…….suggest give that a wide nerth in my experience.

Absolutely agree !!!

I think you need a certificate of import VAT paid, or a certificate of free circulation. Many previous threads; search for “vat”. Lots of people don’t have this bit of paper and prefer to not worry about it. For a US made aircraft this is an issue which has no easy solution. The UK HMRC stopped issuing these c. 2005 and I got mine just in time, only to find out many years later that a French made (Socata) doesn’t need one anyway, unless it was re-exported out of the EU (which includes the channel islands!!) but that’s a different matter. For a Mooney, US made, with no documents, the only sure solution is to declare it for VAT, declare the smallest market value you can get away with, and pay the VAT on it. I know somebody who did that. Or sell it to somebody who doesn’t know about this, who usually turns up the following day

Cobalt wrote:

The most important thing will be the documentation of the import of the aircraft into the EU. If it was officially imported as part of a move of your hosehold int the EU, that piece of paper will be worth 20 percent of the aircraft price.

100% agreed. A full audit trail. up to speed logs, and certification is key when conducting these sales. So many deals fall when one piece of paper does not fit..in fact it may well be worth before any false starts to have all the paperwork ’’checked’’ to make it a tick box scenario in the sale process.

The most important thing will be the documentation of the import of the aircraft into the EU. If it was officially imported as part of a move of your hosehold int the EU, that piece of paper will be worth 20 percent of the aircraft price.

OliverB wrote:

Any competent Spanish tax adviser should be able to answer that question with some research.

Mmmmmmm…….suggest give that a wide nerth in my experience.

You cannot add VAT to the selling price unless you are a VAT registered individual or a company.

So if you paid VAT on the purchase, you have lost that money for ever.

This is why there are basically two markets in planes:

• VAT registered sellers (whose most likely customers are VAT registered buyers; they claim the VAT back)
• non VAT registered sellers (whose most likely customers are non VAT registered buyers, because a VAT registered buyer cannot claim the VAT back)

Once a plane has passed through a non VAT registered owner, the VAT is lost for ever, and the most likely buyer will be another non VAT registered one.