Calculating your subscription
For the purpose of BMF membership, turnover is
calculated in different ways for the following categories of
business:
Boat Brokers: turnover is
total ‘commission earned’ figures in the accounts, plus the gross
sales value of any craft purchased and resold as principals
Insurance Companies &
Underwriters: turnover is 10% of premium income (net
retained) from the UK boating industry
Insurance Brokers, Agents and
Underwriting Agents: turnover is the net retained
commission earned from the UK boating industry
Finance Houses: turnover is
income arising from the difference between borrowing & lending
rates on the UK boating industry
Finance Brokers: the income
arising from fees received from financial introductions on the on
the amount you lend UK boating industry
Solicitors: turnover is
income arising from fees received from the UK boating industry
Charities: calculated as 1/3 of marine
turnover
Colleges: set rate of £368 (this rate only
applies to Government funded higher eductaion
colleges/universities)
Subsidary businesses: A flat rate of £350 plus
VAT and a simplified application procedure can be offered to
subsidiaries of existing member companies that may wish to form a
Group Membership
Please contact the Member Relations team to discuss your
Membership Fee in more detail: 01784 223663