After launching the VI-SA-GB Gifting your boat scheme at the 2012 Tullett Prebon London International Boat show we have seen a tremendous amount of interest from boat owners who are concerned with being able to get the most use from their boats.
Most of us have wandered around a marina or boat yard and thought to ourselves just how many times a year do these boats leave their moorings? The facts are that potentially, many of the boats we see may leave the sanctuary of their mooring less than half a dozen times per year.
Conflicting pressures on owners can often mean that boats are sadly neglected for months on end.
At the same time maintenance costs and marina costs can escalate and boat owners often find their once cherrished possession is now a huge financial drain.
There are two main ways to donate your boat to the Visually Impaired Sailing Association . Although different, both options have associated financial benefits:
Tax effective donations
Leave Your Boat (opens in a new window) Using the VI-SA-GB Leave your boat scheme boat owners are able to Manage Inheritance Tax
Assets which are left to charities in Wills are exempt from Inheritance Tax. This means, boat owners can use the current market value of their boat to reduce the amount of Inheritance Tax their family will owe after they die.
By leaving your boat to VI-SA-GB, you will retain the ability to enjoy your boat as you get older, secure in the peace of mind that when you die it will not become a tax liability to your family.Even where your boat is moored outside the UK, it will immediately cease to be a liability or incur further costs against your estate.
read more about Leaving Your Boat (opens in a new window)
Why should I donate my boat to VI-SA-GB?
This is a question often asked when we or others suggest donating their boat toVI-SA-GB
- It makes sound financial sense.
- They can’t afford or do not want to continue spending money to maintain and keep their boat, even if its currently listed for sale.
VI-SA-GB's Donate Your Boat scheme enables boat owners to quickly part with their boats without incurring additional expense. This is tremendously useful for owners of boats who are continually facing increasing maintenance costs, and where monthly mooring or storage costs are adding to that financial burden.
Once approved and accepted for the VI-SA-GB Donate your boat scheme any debts owed against the boat will be paid off in full from the final selling price, with the net proceeds being passed to VI-SA-GB as a cash donation.
Read more aboutDonating Your Boat (opens in a new window)
There are numerous ways that donations by individual benefactors can attract the benefit of tax relief.
What types of boat would help VI-SA-GB?
VI-SA-GB is currently seeking (donated) sailing yachts, especially offshore -cruising yachts, newer or older vintage, Cutter, Bermuda rig, or Ketch, able to accommodate a crew of 8 or more for extended periods of time at sea.
If you have any type of boat at all, and are unsure of its suitability for use by VI-SA-GB or whether it could be considered for approval for either the VI-SA-GB Leave your boat, or VI-SA-GB Donate your boat schemes please contact us or our partners Berthon - Synonymous with yachting since 1877
Complete the form and someone from VI-SA-GB will contact you by return
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