Following a meeting with the BMF, RYA and Inland Waterways Association, HM Revenue & Customs on confirmed that they would be launching a consultation document week commencing 30 July.
This consultation document will set out options on how the Government will implement the European Commission’s decision to end the derogation that allowed for recreational boaters to use red diesel at a lower rate of duty.
The Consultation which will run until the end of October will give the opportunity to give your feedback on a number of options that Government is considering to in order to implement the decision.
Following the consultation HMRC will then have to propose legislation, based on the preferred option, in order to implement the decision by 1 November 2008, as announced in this years Budget Statement.
Further information is available from the BMF and RYA
BMF - www.britishmarine.co.uk/default.asp
RYA - www.rya.org.uk/AboutRYA/lobbyact/legalhomepagereddiesel.htm