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

  • Who needs to register for Self-Assessment

    02/12/2021 - More...

    There are a number of reasons why you might need to complete a Self-Assessment return. This includes if you are self-employed, a company director, have an annual income over

  • Carry-back charitable donations

    02/12/2021 - More...

    The Gift Aid scheme is available to all UK taxpayers. The charity or Community Amateur Sports Clubs (CASC) concerned can take your donation and, providing all the qualifying

  • Can you claim the Marriage Allowance?

    02/12/2021 - More...

    The marriage allowance came into force in 2015 and applies to married couples and those in a civil partnership where a spouse or civil partner doesn’t pay tax or doesn’t pay tax

Newsletter

With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login

Copyright © 2021 - Read Milburn