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HM Revenue and Customs (HMRC) has announced a 6-month extension to the 1-year grace period previously put in place by the government for returned goods relief. The announcement follows representations from the Royal Yachting Association (RYA) and British Marine asking for a 3-year transition period. The organisations say the 1-year period of grace effective from 1 January 2021, in respect of the three-year condition for RGR, was not sufficient as many factors affect the repatriation of vessels, including travel restrictions, the Schengen area immigration restrictions, insurance restrictions and the length of sailing season.
The new announcement extends the grace period for RGR until 30 June 2022 for all goods including recreational craft, regardless of when Continue reading “Returned goods relief grace period post Brexit extended by six months”