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Post by chalkyboy on Nov 6, 2017 22:23:38 GMT
Watching Panarama on BBC1 . Very interesting about Lewis Hamiltons biz jet . It cost him 17 million and because he registered it
in the Isle of Man he received a 3.5 million vat refund . Register your plane M- , 2- , VP-B or any British overseas territory and
you will get a full vat refund so long as your plane is for business use only. Why would anybody register their biz jet G- ... ? Maybe
these registrations of convenience will now end ?. Um..
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Post by rugbyref on Nov 6, 2017 22:48:23 GMT
The press assume that the users are predominantly British. I suspect the vast majority live very much East of the UK. Just look at Aeroflot’s fleet for starters.
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Post by dave on Nov 7, 2017 11:22:11 GMT
hi morning all,
just following on, on this, why are there so many EI registered a/c, Russian, Italian etc. are they all leased or is it a reg. of convenience?
As a ex worker of this fair land, I did not have the mither of worrying about which tax haven to stash my money away in!!! i'm married...
regards,
dave...
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Post by lordevanelpuss on Nov 7, 2017 17:41:34 GMT
Wasn't Lewis Hamilton's Chally G-LCDH? Seen as such at Farnborough. And it looked like the one in the newspaper & TV photos.
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Post by slideman on Nov 7, 2017 19:16:08 GMT
Correct, it never has been IOM registered, is now OE-IXI
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Post by chalkyboy on Nov 7, 2017 22:41:38 GMT
In deed it was G-LCDH.. i watched Panarama and they made it sound as if , at some point it had been M- registered.
On the BBC news this morning they said Hamilton made 1 visit to Douglas to register it on the Isle of Man register.
I don,t doubt in a few days it will all go quiet and it will be business as usual for these big players..
M- , 2- etc will continue for a long time yet me thinks...
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Post by Jeff on Nov 8, 2017 9:45:09 GMT
Thing is nothing mentioned in Panorama is actually illegal..... perhaps morally wrong yes but then don't we all jump at the chance of duty free 🤔
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Post by rh226 on Nov 8, 2017 12:47:50 GMT
Ah, but the point is that the £3m+ VAT refund by the IOM applies to business use only. Lewis has been using the jet for private purposes (contracted for a third of the total usage) and should therefore pay back the VAT on that third.
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Post by Jeff on Nov 8, 2017 21:37:48 GMT
They agreed 15% personal 85% business use, to which LH stuck to !!
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