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Seafarers’ Earnings Deductions (formerly Foreign Earnings Deduction) permits 100% of onboard earnings to be free of UK income tax.
Register for self-assessment and complete and file a tax return.
No, you must be resident for tax purposes.
No. SED only applies to individuals with a contract of employment.
It is possible for overseas workers to claim tax exemption on their foreign earnings by becoming non-UK resident.
No, Non – Residency applies to foreign earnings.
A claim can start (or end) on any date.
Any new claim must run for a minimum of 13 months.
Offering some of the most competitive rates
Incorporated Service Company is an alternative to self-employment abroad or foreign employed work not qualifying for Seafarers Earnings Deduction (SED) or Non-Residency (NR) claims.
We incorporate a UK limited company for you and you can provide your services to offshore companies.
The income generated is paid into the company and you can then pay yourself in the most tax efficient way with a wage and dividends.
Yes, you need to set up a UK bank account for your payments to be made from offshore.
Yes, you have to file tax accounts at HMRC each year and must use an accountant who has compliant software.
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