If you've received a letter from the HMRC asking for further declarations on overseas income and assets, you must act fast. Read our article for an in-depth look at the steps to take to avoid possible penalties and harsh repercussions.
In this latest article, we investigate the tax implications of trading stocks & shares for yacht crew, including income tax whilst owning shares and income tax when you sell them on.
With many crew spending extended periods at home or in one location due to travel restrictions, the issue of tax residency once again rears its ugly head. In this article, we explore how this affects yacht crew and seafarers currently based in the UK and Spain.
Crew often believe they cannot claim the seafarers earnings deduction because they do not have an employment contract. Whilst true in some cases, this article explores circumstances where you can claim the SED without being a contracted employee, potentially saving thousands in tax.
Business owners and the self-employed on all scales are facing worrying times as a result of the ongoing Coronavirus pandemic. The Government has now acted and put in place support measures for you and your company to help in this tough economic climate.
With the situation evolving frequently, be sure to check back as this article will be being updated with developments as they happen.
The ongoing global Coronavirus pandemic marks the largest public health crisis in recent history. With yacht crew hugely affected, we discuss the implications of the virus on potential tax positions, residency and what you need to know.