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Below deck
Key points
- The acquisition of super yachts is now a worldwide multibillion pound business that can have personal and commercial advantages for the buyer if structured well.
- If approached for a super yacht tax and commercial advice brief can the tax adviser comply with the questions in this specialist area of business that may arise?
- Many factors will affect an ultra-high net worth individual’s decision to buy a super yacht not least will be the tax and possible business benefits.
Advisers in taxation are sometimes surprised by the ‘out of the blue’ telephone calls they get – none more so than a caller who has sold his multi-million pound UK-based company for £300m wishes to retire abroad and intends to buy a super yacht to live on in a sunny jurisdiction. The ultra-high net worth (UHNW) UK individual has heard that buying a super yacht to sail...
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