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Tax status during refit
Legion
Posted: Tuesday, November 15, 2011 2:05 PM
Joined: 04/09/2011
Posts: 1


Hi All, I was wondering if anybody could answer this question. Regarding the salary you are paid during a yacht refit, if I am living and working on a yacht which is being refit I am technically no longer at sea. If I am from the UK and the refit is in the EU, I presume I would be liable for normal land resident tax regulations" Would this be a correct assumption. Thanks in advance!
Anonymous
Posted: Tuesday, November 15, 2011 3:50 PM
I am not an expert with tax issues, but have been claiming SED for a number of years. Your situation depends on a couple of things. I assume that you are a UK resident claiming SED. The question is weather your vessel is being hauled out and weather the hull is going to be breached or not. The Revenue regard a vessel in dry dock as a ship because it is still capable of being used for navigation, only when the hull is breached and the vessel is not capable of being navigated does it stop being a ship. This is just advice though, you need to contact one of the UK tax advisers that specialise in SED for peace of mind. They charge about 180 quid a year but I think it's money well spent.
craigtaylor
Posted: Thursday, November 17, 2011 12:37 AM
Joined: 28/10/2011
Posts: 2


Hey , Im also a British resisdent and was worried about tax ,as my wages were paid into my english bank account after asking the tax office, aslong as you spend more than 183 days outside uk you dont have to pay tax.
rodsteel
Posted: Thursday, November 17, 2011 6:38 PM
Joined: 25/06/2009
Posts: 275


craigtaylor wrote:
... aslong as you spend more than 183 days outside uk you dont have to pay tax.


However, I believe that (just like US citizens that are seafarers) you DO need to file tax forms each year to obtain the Seafarer's Earnings Deduction (SED).

 

http://www.hmrc.gov.uk/cnr/seafaq2.htm

 

 


 
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