Online provenance check for boats on sale
A new online Manufacturers Identity Code (MIC) database has been launched which will help boat buyers confirm the identity of vessels for sale.
The free service is being run by British Marine. A requirement of the Recreational Craft Directive (RCD), an MIC forms part of a unique serial number that every Ce-marked boat must have and enables manufacturers and regulators to identify each particular vessel. It also helps others to identify the country of origin, the builder and year of build of the boat.
From 1 January 2021, all global boat builders, including Eu-based manufacturers, have to register their MIC on the UK register to place a vessel on the British market. Previous MIC data will also be transferred to the database, helping buyers of second-hand boats.
The CEO of the Yacht Brokers, Designers and Surveyors’ Association, Bas Edmonds, said the new database would ‘greatly benefit’ surveyors and brokers in being able to accurately identify boats for sale both within the UK and the EU. It is available at: yachtingmonthly.com/mic
The end of the Brexit transition period also means that EU retaliatory tariffs no longer apply to UK imports. With no trade agreement between the UK and the USA, the UK Global Tariff scheme will apply, removing the 25% tariff on the import into the EU of Us-origin new and second-hand boats. According to the Cruising Association, UK VAT will still be payable which will not count towards the yacht’s EU ‘Union-goods’ status.