super yachts 60million+

[dvs_dave]

DanL said:

’m going to make an assumption here, but I think the confusion is this.

If you’re tax resident in the UK then all income (regardless of where earned) is taxed, i.e. if you have a holiday let in Florida and have an income on it while living in the UK, presumably this is taxed.

For the USA - regardless of where you live (e.g. you’re living in the UK full time) the IRS expects their slice of your income if you’re a US citizen.

That’s my assumption of the cross purpose discussion… I may be wrong on one / both statements above.

You generally don’t get double taxed as a US Citizen. Most worthwhile places have a tax treaty with the US, and that determines your US tax liabilities, if any, as you’d expect.

Where there isn’t a treaty in place, USC employees (Contracting world at least) are generally paid at a rate that reflects their higher potential tax burden over that of other nationals. So take home pay works out as broadly similar, despite the misplaced whingeing/jealousy that surrounds these situations.

Edited by dvs_dave on Friday 13th August 07:43

[DanL]

dvs_dave said:

DanL said:

’m going to make an assumption here, but I think the confusion is this.

If you’re tax resident in the UK then all income (regardless of where earned) is taxed, i.e. if you have a holiday let in Florida and have an income on it while living in the UK, presumably this is taxed.

For the USA - regardless of where you live (e.g. you’re living in the UK full time) the IRS expects their slice of your income if you’re a US citizen.

That’s my assumption of the cross purpose discussion… I may be wrong on one / both statements above.

You generally don’t get double taxed as a US Citizen. Most worthwhile places have a tax treaty with the US, and that determines your US tax liabilities, if any, as you’d expect.

Where there isn’t a treaty in place, USC employees (Contracting world at least) are generally paid at a rate that reflects their higher potential tax burden over that of other nationals. So take home pay works out as broadly similar, despite the misplaced whingeing/jealousy that surrounds these situations.

Edited by dvs_dave on Friday 13th August 07:43

An, not so bad then.

[DeltonaS]

dvs_dave said:

DanL said:

’m going to make an assumption here, but I think the confusion is this.

If you’re tax resident in the UK then all income (regardless of where earned) is taxed, i.e. if you have a holiday let in Florida and have an income on it while living in the UK, presumably this is taxed.

For the USA - regardless of where you live (e.g. you’re living in the UK full time) the IRS expects their slice of your income if you’re a US citizen.

That’s my assumption of the cross purpose discussion… I may be wrong on one / both statements above.

You generally don’t get double taxed as a US Citizen. Most worthwhile places have a tax treaty with the US, and that determines your US tax liabilities, if any, as you’d expect.

Where there isn’t a treaty in place, USC employees (Contracting world at least) are generally paid at a rate that reflects their higher potential tax burden over that of other nationals. So take home pay works out as broadly similar, despite the misplaced whingeing/jealousy that surrounds these situations.

Like most country's the US has tax treaty's concerning corporation tax, to my knowledge not for personal income tax.

A small Google search seems to confirm that, US citizens abroad do have foreign earned income exclusions and/or foreign income tax credits. As the IRS website tells me.

https://www.irs.gov/individuals/international-taxp...
https://www.greenbacktaxservices.com/blog/paying-t...

To help avoid this negative consequence, the US tax code contains a provision called the foreign earned income exclusion (FEIE). Under the 2020 FEIE, expats are permitted to exclude $107,600 ($108,700 for 2021) of income earned abroad from their US tax obligation.

Another provision to help mitigate double taxation is the Foreign Tax Credit. In this case, Americans earning income internationally may reduce their US tax obligation beyond the limits of the FEIE if they have paid or accrued tax to a foreign government. What makes this provision complex, however, is that it applies to only certain types of income, and there are unique considerations related to each foreign country.

[Petrus1983]

blueg33 said:

RevsPerMinute said:

Speaking of Roman A, I can't deny - costs aside, I can understand why he chooses a yacht over a Travel Lodge.
https://www.superyachtfan.com/yacht/solaris/photos...

CGI's. Travelodges look good on CGI's too

I’m sure RA won’t lose any sleep over this - but I really don’t like it! I liked Le Grand Blu, Eclipse etc - but something does flow with that one. Still beats a Travel Lodge

[TheJimi]

I agree, Petrus.

That has very little visual appeal to me.

If I had the choice, I'd genuinely choose Alfa Nero over that, or even better, Octopus.

[brickwall]

Sway said:

Yeah. Unit of measure is essentially 'sleeps'.

This is an outdated view. The 90-day rule is merely one of many factors that are used to determine your tax residency status. They look at things like:
1. Where are you employed and where do you earn your income
2. Where is your principal ‘home’ - where is your most valuable property, where do you keep your belongings
3. Where are your family and friends
4. Is there another country with a clearer claim that you are resident there

HMRC successfully won a case claiming an individual was a UK tax resident, even though he was ‘under’ 90 days in each of the previous 3 years, because
- His wife and kids lived in the UK, the kids going to school here
- His social life was in the UK
- His principal business was in the UK
- His property in the UK was a large family home

He thought he was in the clear because he flew in for 4 days/2 nights a week…HMRC argued (and the court agreed) that he clearly “lived” in the UK and hence was tax resident here.

[SpunkyGlory]

The Maltese Falcon certainly stands out. About the only "proper"q boat I've seen round Malta this weekend.

[The_Doc]

Anyone at the Monaco Yacht Show right now?

Hot news is Oceanco's Kairos, pictured above, which is doing a blimming good impresion of a small shopping mall in the press photos (its not built yet)

It is an e-boat (of course, why wouldn't it be?) Because it can run for a bit on batteries .
Obviously this is the first thing I think of when I look at the boat, "Wow that thing is good for the enviroment."
Unless it is currently bunkering 43 tonnes of diesel at the time.

"Visually there is no forward direction with the symmetrical profile taking away any sense of urgency to move on to new destinations. The idea is to create a sense of peace, a stillness, for what the makers hope will encourage a touch of mindfulness on-board this vessel."
-said Oceanco about the Kairos

https://www.oceancoyacht.com/time-for-a-change-in-...

-presumably the pleasant feeling aided by not being able to see a single pauper, from the any deck on the boat.

Anyhoo, hooray for the Monaco Yacht Show, my contact down their says it is lovely. And nobody has even heard of CV19.

[ColdoRS]

A few from Barcelona over the last few days.

Titan, IDynasty, Lady Lara and the small support boat is called Um Alhoul.

[Burwood]

A small vessel you say.

[TTmonkey]

What price range is something go like this in please?

[The_Doc]

TTmonkey said:

What price range is something go like this in please?

Probably $30million to $50million depending on age and any recent refit. Looks about 40-50meters

Eg look at this one, https://www.edmiston.com/yacht-brokerage/yachts/ir...
2015 built, refitted in 2020. 3 decks.

But this is snip at Euro17million (£20mill) https://www.edmiston.com/yacht-brokerage/yachts/az...
- 2005 built, refit in 2013.

I can't see the name of the vessel on your picture, but my brother would ID it an a flash and have the broker ring you in 10 mins to talk about the sale !

Edited by The_Doc on Saturday 2nd October 13:09

[Bonefish Blues]

The_Doc said:

But this is snip at Euro17million (£20mill) https://www.edmiston.com/yacht-brokerage/yachts/az...
- 2005 built, refit in 2013.

Edited by The_Doc on Saturday 2nd October 13:09

That's particularly elegant, I think - much more so than the newer 'Cap'n Nemo' designs.

[TTmonkey]

Tarragona now.

[The_Doc]

Bonefish Blues said:

That's particularly elegant, I think - much more so than the newer 'Cap'n Nemo' designs.

Wierdly this sort of design is laughed at by the nouveau riche, they need modern and new and last year's model says you are off the pace.

That design is basically a 1991 Ford Orion in design terms.
Of course in 2005 that design was the dog's danglies and you had to employ a man to poke the nude ladies attempting to board off the side with a boat hook

This is what the new money is aspiring to, get ready for illegal offshore millions to pour into this:

[J3JCV]

The_Doc said:

TTmonkey said:

What price range is something go like this in please?

Probably $30million to $50million depending on age and any recent refit. Looks about 40-50meters

Eg look at this one, https://www.edmiston.com/yacht-brokerage/yachts/ir...
2015 built, refitted in 2020. 3 decks.

But this is snip at Euro17million (£20mill) https://www.edmiston.com/yacht-brokerage/yachts/az...
- 2005 built, refit in 2013.

I can't see the name of the vessel on your picture, but my brother would ID it an a flash and have the broker ring you in 10 mins to talk about the sale !

Edited by The_Doc on Saturday 2nd October 13:09

Its a Benetti 47m - Lucky to get £15m for that unless the market has gone crazy.

Worked on a few of the yachts pictured down there, an eclectic bunch!

[MBBlat]

Not sure if it’s 60million+ but a big yacht for a tiny harbour. Came in for one night in Vassaliki, Lefkada Greece a couple of weeks ago.

[Bonefish Blues]

The_Doc said:

Bonefish Blues said:

That's particularly elegant, I think - much more so than the newer 'Cap'n Nemo' designs.

Wierdly this sort of design is laughed at by the nouveau riche, they need modern and new and last year's model says you are off the pace.

That design is basically a 1991 Ford Orion in design terms.
Of course in 2005 that design was the dog's danglies and you had to employ a man to poke the nude ladies attempting to board off the side with a boat hook

This is what the new money is aspiring to, get ready for illegal offshore millions to pour into this:

There are benefits to my not being an aficionado, clearly! (But I am worryingly addicted to watching Aquaholic vids...)

[SpeckledJim]

The_Doc said:

Bonefish Blues said:

That's particularly elegant, I think - much more so than the newer 'Cap'n Nemo' designs.

Wierdly this sort of design is laughed at by the nouveau riche, they need modern and new and last year's model says you are off the pace.

That design is basically a 1991 Ford Orion in design terms.
Of course in 2005 that design was the dog's danglies and you had to employ a man to poke the nude ladies attempting to board off the side with a boat hook

This is what the new money is aspiring to, get ready for illegal offshore millions to pour into this:

Money: wasted on the rich.

[M5-911]

The_Doc said:

Wierdly this sort of design is laughed at by the nouveau riche, they need modern and new and last year's model says you are off the pace.

That design is basically a 1991 Ford Orion in design terms.
Of course in 2005 that design was the dog's danglies and you had to employ a man to poke the nude ladies attempting to board off the side with a boat hook

This is what the new money is aspiring to, get ready for illegal offshore millions to pour into this:

haven't seen any of that in the shipyards lately. it all look very slick design wise at the moment (to my eyes).