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Tyne & Wear, NE30 1AF


Marine Security

The taxation of earnings from marine security can be a complex area. – Get it right and, with seafarer’s earnings deduction, you need pay no UK tax or national insurance; get it wrong and the overall tax bill can be significant at 40% plus on your earnings.

Pirate activity in the Gulf of Aden and surrounding areas make this a growing field of engagement, particularly with the recent announcement by the UK Government that armed guards will be allowed on British registered shipping. As specialists in this field we act for a number of ex-military personnel and can guide you in matters of engagement classification, residency requirements, the nature of what is classified as a “ship” (and also when a ship is not a qualified as a ship for tax purposes), and qualifying transit periods.

Well known and popular marine security companies often provide you with contracts that protect their own interests but leave you, as a Security Operative, with a tax burden discovered far too late in the day. Our advice, if taken at the outset, will ensure that there are no nasty surprises and will enable you to keep what you earn rather than sharing it with the taxman.
 

Latest News

  • Tax Diary May/June 2018

    18/04/2018 - More...

    1 May 2018 - Due date for corporation tax due for the year ended 30 July 2017. 19 May 2018 - PAYE and NIC deductions due for month ended 5 May 2018. (If you pay your tax

  • Renewing tax credit claims

    17/04/2018 - More...

    Families and individuals that receive tax credits should ensure that they renew their tax credit claims by 31 July 2018. Claimants who do not renew on-time may have their payments

  • How much does Class 4 NIC cost?

    17/04/2018 - More...

    There are currently two types of national insurance contributions (NICs) payable by most self-employed people. These are known as: Class 2 NICs, and Class 4 NICs. Class 2 NICs

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