Search results for category 'Tax'
Boat VAT Liability After Brexit
With the final Brexit date looming, many UK boat owners could be at risk of incurring additional VAT liability on vessels currently located outside UK waters. Does this potential new VAT liability affect you? Read our article to find out more.
The True Cost of a Spanish Property Purchase
Spain seems like an obviously idyllic location to buy an attractively priced property, but that may not be the whole story. There's always taxes to pay, with each region determining applicable rates individually. Read more to learn the true cost of buying a Spanish property.
HMRC Investigations Boosted by 26% in Conjunction with New Investigatory Powers
Due to increased investigatory powers, HMRC reported 430 personal and business investigations into offshore holdings during the 2019/20 tax year, as rise of 26%. In our article, we take a look at what these increased investigatory powers and what you should do to avoid becoming their next victim.
How to React to HMRC Investigations
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.
Self Employed & the Seafarers Earnings Deduction
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.
COVID-19: Support for your business
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.
To All Our Valued Clients Near & Far. We understand that with everything going on around the world at the moment, there is a lot of uncertainty and unanswered questions. Marine Accounts are still working at full capacity and we are here to best answer any questions you have about your situation and plan for what lies ahead. Wishing everyone to stay safe and healthy.
Yacht Crew Income Tax Return Checklist
The filing deadline for UK citizens to submit their self-assessment tax returns to HMRC is fast approaching. Have you got all your necessary documentation together and ready? Follow our tax return checklist to ensure you are fully prepared long before the deadline comes on 31st January.