Infographic reveals the real cost of owning a superyacht

Infographic reveals the real cost of owning a superyacht | Daily Mail Online



This looks as if it is crazy to own a super yacht.  Well here is how it works...........

The boat is bought by a company and that company rents out the boat. It need only be available for rent for a period of seven moths of the year. Note the word available. If nobody rents it then the company has no income but does have legitimate expenses. So the bottom line shows a loss.

A number of related companies may elect to prepare group accounts. So the loss of the boat rental business may be set against other profits thus reducing the corporation tax liability of the group.

Another game is to have a racehorse named as a company. The horse is used for advertising and is a company asset with all upkeep costs being deductible against Corporation tax.

Really when you get big enough to have super yachts and racehorses you move the company head office to a PO Box in a tax haven and pay no tax whatever.!! Lawyers offices in the Isle of Mann,Guernsey,Jersey,St Lucia,St Barts,Turks and Caicos, Vanuatu, Cook islands and many many more places have dozens and dozens of company brass plates on their walls. The lawyers represent the companies as the head office and give office services for fees.