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Legal & Financial

Shoot the messenger

The Earth’s warming climate is a problem for everybody. It might be an obvious thing to say given the fact that we, and most other species on the face of the planet seems to be facing an existential threat in the not so distant future, but inexplicably the message seems …

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Spanish matriculation tax: A sailing nightmare

Spanish Matriculation tax is a rara avis in the European tax landscape of the yacht chartering industry. This is a 12% tax on the full value of the boat, hence the large risk when evaluating this tax obligation. The main problem with Spanish matriculation tax is the lack of consistency …

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Preparing for the 100-year life

Rising longevity is a big challenge facing our society, but one that can be managed with foresight and planning. The German Chancellor, Otto von Bismarck, introduced the world’s first state pension in the 1880s. You had to be 70 years old – and the expectation was that you would only …

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Unicorns, messiahs and emperors!

The search for yet another unicorn hit a major snag last month. So severe was the blow that it might just kill off the whole unicorn hunting business, for a while at least. WeWork, needs your money, 50 billion dollars of it to be precise, your chance to buy a …

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Shoot for the moon

I wasn’t quite born when Neil Armstrong took his first step on the moon, 50 years ago in July just gone, by the time I was an impressionable young lad the Apollo moon landings had ended, but the excitement was still palpable. All the kids I knew had model rockets, …

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VAT on refits: Do it right to get it back

Refits are part of a yacht’s lifecycle. The costs incurred in restoration and repairs are significant and often include an additional 20 to 22% of VAT, depending on the country where the refits are made. If you are incurring these costs as a business and such costs are entirely linked …

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