Anglia Sea Ventures
Yacht Charter Management
Earn income from your yacht when you are not using it and subsidise the cost of yacht ownership
Owning a boat can be expensive but it doesn’t have to be prohibitively so. By placing your yacht under a Charter Management agreement with Anglia Sea Ventures you still get to use her when you want to, but when you don't we'll use her for our Sea School activities or Private and Corporate Charter.
We provide you with an easy to use web site to manage availability of your boat. This means we will not take bookings for dates that you have designated for private use.
We will pay you 60% of any charter fees we receive or a daily rate for training and taster sails. For example, your share of charter income for a new 38 foot sailing yacht could be around £900 for a 7-day charter during the high season.
Our responsibilities
We will handle all of the administration for each booking and ensure the boat is thoroughly checked and cleaned before and after each charter. If any maintenance needs doing we will arrange this on your behalf ensuring she is in first class condition ready for you to use.
We are responsible for expenses when we are using your boat such as fuel, cleaning services and minor breakages and we will pay you promptly each time we use her.
To ensure regular charters, we will promote your boat through a variety of marketing activities including charter directories, our superb website, internet advertising and direct mail.
Your responsibilities
Coding
All of our fleet must comply with the MCA Code of Practice for commercial vessels. You will be responsible for obtaining and maintaining this certification. We have experience of bringing boats up to the required standard, which is often referred to as "Coding", and we will be pleased to offer advice and/or undertake this work for you.
As the yacht's owner, you will also be responsible for fixed costs such as berthing, insurance, standard maintenance (anti-fouling, wear and tear, engine servicing etc). Depending on how often you charter out your boat, income usually more than covers these.
VAT
If you register for VAT as a business, VAT can be reclaimed on new yacht purchases and ongoing bills such as berthing fees and maintenance, depending on the ratio of private to charter usage. The savings made more than covers the initial costs of preparing your yacht for charter. VAT will have to be paid on the depreciated value of the yacht when you sell her at end of the charter arrangement.
Insurance
You must inform your insurance company that you will be undertaking charter work. Premiums may increase by 25% to 50%. Your policy must include third party liability cover of £2,000,000. Rest assured you will not be liable for any personal injury or loss whilst the yacht is under charter.
Legal entities
Most owner couples register as a partnership and declare any income from chartering activities through their annual tax returns. Costs associated with running the yacht and its administration can be claimed as expenses and offset against income. Speak to an accountant who can usually be hired for a few hundred pounds a year which in our experience, more than pays for itself.
General
We ask that you place your yacht with us and no other charter management company.
What's next?
For a no obligation chat, or if you would like to receive a copy of our Charter Management pack please contact us.
