Maritime Security/seafarers taxation together with the calculation and application of SED (Seafarers Earnings Deduction) is an area we specialise in.
Seafarers Earnings Deduction
SED can = TAX FREE MONEY!
The ideal scenario for tax purposes once you embark on your new career as a Maritime Security Operative is to qualify to claim the ‘Seafarers Earnings Deduction’ (SED) as you may not pay tax on your earnings.
Criteria for SED
• Working on a ship
• Must be employed (not self employed)
• Be UK resident
• Initially complete a qualifying period of 365 days
• At least 183 days must be outside of the UK
• Visit at least one foreign port per employment
• Cumulative days in the UK should not be greater than the days out of the UK
National insurance contributions determine your entitlement to state pension, benefits and allowances. This is a very technical area and with the government is currently looking to increase the number of years required to qualify for full benefits. Currently this is 30 years.
We can advise on this situation, and if required complete and submit the Mariners Questionnaire to the appropriate HMRC Marine Department.
We provide a fixed price service of £175 + VAT (£210) for a standard annual tax return with no hidden costs and specialist staff to help and advise. Time is always taken to provide as much explanations or assistance as is required. We understand that paperwork is not everyone forte so we aim to take the stress of this away from you.