Living the highlife aboard the most luxurious vessels, I understand tax isn’t at the forefront of your mind! We get that, so our team at SK Tax Service aim to take away the stresses and strains of dealing with the tax office.
Whilst travelling the high seas around the world you still need a pin on the map that you call home! You need a country you reside in and therefore declare your untaxed income to. With the banks now disclosing information around the world it’s more important than ever to make sure your tax affairs are in order.
As you work aboard the yachts and subsequently out of the UK for significant periods at a time, you are more than likely eligible to qualify for the seafarer’s earnings deduction allowance (SED). This is an allowance the UK gives to seafarers aboard qualifying vessels, regardless of your actual role on the ship. As long as you perform your main duties of employment on board a ship and meet the criteria, you can clear your liability for UK tax.
Contact us for more information, we’ll be happy to help!