ROVworld Subsea Information

Advertise on ROVworld.com!
ROVworld Subsea Information: Forums

View next topic
View previous topic
Quote
I am looking for a giuneapig or two to work through a possible solution to achieving SED claims for self-employed seafarers.

There are many out there who meet the SED criteria but fail on the 'employment' rule. Some set up their own limited companies and become employees of that company bur there have been 2 main problems with this from the seafarer's point of view:

1. If the Ltd company invoices only one company for 80% of their income in a tax year, HMRC will not allow dividend payments as a method of tax efficient payment.

2. Seafarers have to manage a Ltd company or appoint an accountant which can be expensive.

I may have an easier, cheaper solution but I need to work it through real scenarios to see if it works practically before approaching HMRC for signing off.

Please send me a private message if you are interested. I just need a handful of examples to work with at the moment.

Many thanks....
Kind Regards
Steve White


Your Tax Office Ltd
+44 (0) 1438 940 944
Quote
Further to my previous posting I believe that we now have a method to return 80% + of gross income to self-employed/contract 'seafarers' that meet the HMRC SED criteria. This could also be improved upon subject to certain conditions.
Kind Regards
Steve White


Your Tax Office Ltd
+44 (0) 1438 940 944
Quote
Thank you to those who participated. We now have a workable model which I had informally signed-off by HMRC yesterday.

Anyone interested can find more details on our overseas workers website at;

http://www.binksoverseas.com/seafarers-services.html

and

http://www.binksoverseas.com/self-employed-seafarer.html
Kind Regards
Steve White


Your Tax Office Ltd
+44 (0) 1438 940 944
Quote
Steve

Thanks for keeping our members updated on this Thumb Up
James Mc
Site Admin
www.rovworld.com

Shocked Search First - Ask questions later Thumb Up

Display posts from previous:







View next topic
View previous topic
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You can attach files in this forum
You can download files in this forum