There’s no such thing as an easy job, and commercial fishing is certainly one of the toughest professions in Ireland. Long hours, harsh weather conditions, rising costs, and the constant challenge of making a living from the sea are all part of the job.
With so many costs to manage, it’s important not to overlook opportunities to recover money that is rightfully yours.
One of these opportunities is the refund of VAT on marine diesel. If you are an unregistered fisher, you may be entitled to reclaim the VAT paid on marine diesel used in your fishing business. This applies not only to fuel purchased in Ireland but also to qualifying marine diesel imported from outside the EU.
The process is straightforward, but there is one vital requirement: keep your receipts. Revenue requires supporting documentation, including original invoices marked as paid in full, before a claim can be processed.
Too often, fishermen see paperwork as an inconvenience rather than an asset. In reality, those fuel receipts could be worth hundreds or even thousands of euro back into your business. Claims can be made through Revenue’s eRepayments service, making the process relatively simple once the records are available.
In an industry where every euro matters, this refund can provide a welcome boost to profitability. It’s money that many operators may never have included in their budgets, yet it can make a significant difference over the course of a year.
## An Interesting Development
We’re also currently exploring a similar claim for one of our clients who operates a vessel providing navigation and tourism services rather than commercial fishing.
The legislation appears to offer some interesting possibilities, and we are currently testing whether businesses operating commercial vessels outside the fishing industry may also qualify for relief. We will provide an update once we have confirmation.
What’s particularly interesting is that fuel taxation has been a major issue across transport sectors for decades. Many people will remember the protests by hauliers over fuel costs and fuel duties. Fishermen have long had access to reliefs on marine diesel, and it may be that some other commercial marine operators could also benefit, depending on their circumstances.
For now, the lesson remains the same: keep your paperwork. The businesses that retain their invoices and maintain proper records are the businesses best positioned to claim every relief available to them.
If you’d like to discuss whether your fishing or marine business may qualify for a refund of VAT on marine diesel, get in touch with Kevin Barry & Co. We are always happy to help clients identify opportunities to improve profitability and reduce unnecessary costs.
