The Royal Yacht Britannia

The Royal Yacht Britannia (“TRYB”) is a well-known charitable organisation that manages the Royal Yacht, which was decommissioned in 1997 and opened as a visitor attraction in 1998.  The Royal Yacht is now berthed in Edinburgh and was voted Trip Advisor’s No.1 UK Attraction again in 2025.

The Finance Director was given VITA’s details as a reputable organisation that could help in regard to the VAT implications and recovery position surrounding some capital improvements at TRYB’s home at the Ocean Terminal.  This led to an introductory meeting and engagement.

VITA set out TRYB’s options, including an explanation of how the VAT system works, with particular explanation of the Cultural Exemption that is applied to TRYB, and also an explanation of how to ensure compliance.  Importantly, this factored in commercial information to ensure that the recommendations were pragmatic and appropriate.  

This assignment went smoothly, and TRYB subsequently engaged VITA on a retainer to allow staff the opportunity to ask ‘helpline’ style questions and for VITA to assist with its partial exemption annual adjustments.   

“We originally engaged VITA to provide specialist tax advice on a significant project following a recommendation from a trusted colleague.  I could not speak highly enough of the service we received.  The team took the time to really understand our business before providing their professional summary in an easy-to-understand report, both for our management team and our Board of Trustees. Following that one off piece of work, we have now partnered with VITA through which they will provide expert advice on both our day to day and one-off VAT queries.”

Director of Finance & Business Support

You can find out more about the Royal Yacht, tickets, and its award-winning hotel - Fingal , at the following link https://www.royalyachtbritannia.co.uk/