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.
Changing Trends in the UK Property Market
With many UK homeowners forced into their homes during this year’s COVID-19 lockdown, trends in the property market are showing a change in attitude. We examine these changes and discuss what they could mean for the property market moving ahead.
4 Ways To Make Money Whilst On Watch - Part 2
Although the yachting industry is beginning to move once again albeit slowly, many yacht crew still find themselves out of work due to lockdown restrictions. So whilst unable to work, read our latest blog to discover four news ways you can make money whilst on watch.
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.
How COVID-19 Affects UK & Spanish Tax Residency
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.
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.
COVID-19: Considerations for Yacht Crew
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.
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.