When purchasing a high value asset such as an aircraft it is essential to consider whether there may be wider financial or other liability implications, the answer to which will vary greatly depending on the intended use of the aircraft. Key considerations include but are not limited to:
- Will the aircraft be used on a pleasure only basis or will it be used for corporate or commercial purposes, to provide financial return?
- Where will the aircraft operate?
- Will flying in the EU create a VAT issue?
- Can I reduce my VAT cost on purchase and/or operation?
- Do I need tax and VAT advice?