Worried about completing your annual self-assessment tax return? Let us do it for you! Save yourself heaps of time and money and feel the weight of making mistakes lift off your shoulders with Flying Fish’s seafarer’s tax service.
1. Answer a few questions
Visit our registration page to fill out details and pay for the service (just £210). If you have any questions, please give us a call!
2. We’ll get in contact with you
We’ll get in touch with you to gather all the information we need to make a start on your tax return.
3. We file your self assessment
When the time comes, we complete your tax return – and you can continue enjoying your Superyacht work stress-free.
Whatever role you undertake on board a Superyacht – whether that’s a Deckhand, Stewardess, Purser or even Captain – you will be classed as a seafarer. As a seafarer, if you also work outside the UK for a minimum of one year (365 days) and are a UK resident, you will be eligible for a special tax deduction.
This is otherwise known as the Seafarer’s Earnings Deduction, which allows 100% of foreign earnings to be exempt from UK income tax!
However, in order to make the most of this (as well as abiding by HMRC), you will need to complete your self-assessment tax return. This is a form asking questions about you and your personal tax circumstances.
You can learn more about this in our Ultimate Guide to Seafarers Earnings Deduction.
Having a job on a Superyacht is hectic. From working insane hours to then socialising with crew members, it’s a work hard, play hard culture. This busy life means that boring admin tasks, such as completing your tax return, often gets completely forgotten about. It can also be a pretty daunting process, too!
Despite the nature of Superyacht jobs, all seafarers must complete their tax return. Penalties for incorrectly completing the tax return, or not doing it at all, can be costly – which is where our registered tax agents at Flying Fish can help!