0191 257 0355

71 Howard Street, North Shields
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 April/May 2020

    31/03/2020 - More...

    1 April 2020 - Due date for Corporation Tax due for the year ended 30 June 2019. 19 April 2020 - PAYE and NIC deductions due for month ended 5 April 2020. (If you pay your tax

  • Converting assets into cash in the bank

    31/03/2020 - More...

    During and after any period when economic activity is depressed, companies that survive the process are those that manage their cashflow effectively. A number of businesses will

  • Deferring VAT and tax payments

    31/03/2020 - More...

    As part of the government’s response to assist businesses during the COVID-19 crisis is the offer to defer VAT and self-assessment tax and NIC payments. VAT HMRC will not

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