taffelliott
Longterm Registered User
Can someone tell me what happens if you fall out of compliance with your sea days.
What happens to your tax.
What happens to your tax.
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Seamans earnings deductions
- Thread starter taffelliott
- Start date
operator144
Longterm Registered User
You pay full tax on all your earnings for that tax period.....
Bootneck86
Full Registered User
Taff,
If it looks as though you are not going to make the required amount of days through work, then get yourself out of the country anyway - go on holiday until you have got your required days out (any time out of the country counts, including holidays).
You have got to watch your days in and out like a hawk, and if it even begins to look as though you might not make the days by working, push that eject button and get out of the UK - almost invariably, the money spent on supporting yourself abroad, on an extended holiday, will be less than what you will have to give to the taxman if you don't make your 183 days (+) out of the country.
And mate, Wales ain't abroad.
Hope that helps (if not this time around, then in the future).
.
If it looks as though you are not going to make the required amount of days through work, then get yourself out of the country anyway - go on holiday until you have got your required days out (any time out of the country counts, including holidays).
You have got to watch your days in and out like a hawk, and if it even begins to look as though you might not make the days by working, push that eject button and get out of the UK - almost invariably, the money spent on supporting yourself abroad, on an extended holiday, will be less than what you will have to give to the taxman if you don't make your 183 days (+) out of the country.
And mate, Wales ain't abroad.
Hope that helps (if not this time around, then in the future).
.
Bootneck86
Full Registered User
Taff,
If you think you have left it too late to get out of the country, all might still not be lost.
If the majority of days that you have done out of the country have been relatively recent (say, for instance, in the last 6 months) then you can shift the date that you want to start claiming your SED closer to the beginning of this block of days, leaving you another 6 months to get the rest of your 183 days out of the country.
This means that you will have to pay tax on the earnings prior to the new start of your SED claim, but this will likely be at a lower rate because, the chances are, you will have worked fewer days during that period.
It might work out a lot cheaper this way (especially if you are staying in the maritime game).
I won't go into detail here, but something similar happened to me a few years ago and I had to pay some tax, so I've got some idea of what I'm talking about.
Can't make any promises mate, as I'm just about to deploy myself and will probably be out of comms, but if you send me all of your dates in and out of the country, and if I get time, I'll have a look at them and then maybe offer some advice (although you will need to go to a specialist maritime accountant to confirm anything I say).
I'll help if I can - good luck Royal.
.
If you think you have left it too late to get out of the country, all might still not be lost.
If the majority of days that you have done out of the country have been relatively recent (say, for instance, in the last 6 months) then you can shift the date that you want to start claiming your SED closer to the beginning of this block of days, leaving you another 6 months to get the rest of your 183 days out of the country.
This means that you will have to pay tax on the earnings prior to the new start of your SED claim, but this will likely be at a lower rate because, the chances are, you will have worked fewer days during that period.
It might work out a lot cheaper this way (especially if you are staying in the maritime game).
I won't go into detail here, but something similar happened to me a few years ago and I had to pay some tax, so I've got some idea of what I'm talking about.
Can't make any promises mate, as I'm just about to deploy myself and will probably be out of comms, but if you send me all of your dates in and out of the country, and if I get time, I'll have a look at them and then maybe offer some advice (although you will need to go to a specialist maritime accountant to confirm anything I say).
I'll help if I can - good luck Royal.
.
Last edited:
taffelliott
Longterm Registered User
Thank you gents.
Luckily I have gone down the PLC route but my accountant was asking questions when I saw her last week regarding the other options etc.
Luckily I have gone down the PLC route but my accountant was asking questions when I saw her last week regarding the other options etc.
Bootneck86
Full Registered User
OK mate, glad you are working things out.
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LeeWhittakerandco
Full Registered User
Have you failed your days? If you want me to have a look at your days to see your situation it won't hurt. The limited company route can be expensive! Either post your transit dates on here or you can private message me.
Bootneck86
Full Registered User
Have you failed your days? If you want me to have a look at your days to see your situation it won't hurt. The limited company route can be expensive! Either post your transit dates on here or you can private message me.
Roger that.
'Ordinary' accountants often do not know anything/very much about the SED route.
Best to go with a specialist SED accountant. I'm with Whittakers myself - hello Lee!!!
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