Ahead of the deadline on 31st January, CrewFO is here for British Crew when it comes to your finance with their step-by-step guide on your tax return. UK tax returns MUST be sent in by the end of January every year. There is still time so do it ASAP – or HMRC will likely fine you!

Crew FO - Tax Return

Do I Need To File A Tax Return?

Here’s the criteria:

  • Are you Superyacht crew?
  • Are you British?
  • Does the yacht you work on operate outside of UK waters? (In the Mediterranean, for example)

If the answer to all of the above is yes, it is very likely you should be submitting a tax return every year.

Why Should I Submit My Tax Return?

A lot of crew ask us this exact question. Our answer:

  1. There is no reason not to. Due to your job, you probably won’t have to pay taxes. Being a UK tax resident allows you to invest in things like mortgages, pensions, ISAs, and stocks – which isn’t possible if you’re not a taxpayer.
  2. It is law. The law requires you to declare offshore income. As it happens, your salary counts as offshore income as it isn’t earned in the UK.

But My Friends Don’t Do It!

This has never been a good excuse for anything! But we get it.

Many crew members neglect their taxes, especially those from outside the UK who may have their reasons. But, for UK crew members who don’t, it’s likely because they’re uncertain about the required steps or they don’t know about the benefits!

Can I Get Away With Not Submitting?

The answer in most, if not all cases, is NO. And why try and get away with it?

How Does All Of This Affect Me?

Not taking the right steps will seriously impact your life as Superyacht Crew. In today’s world, there are fewer and fewer countries where declaring your income and paying the applicable taxes isn’t mandatory.

Our advice:

  • Find out your position
  • Are you supposed to be doing something?

The answer is probably YES, so get on it.

Don’t Delay!

Ensure you are on the right side of the tax authorities so ensure you know what to do to stay there.

The main takeaway: DO NOT DO NOTHING and DON’T PANIC.

Stressing out won’t help anything – so be proactive and get in touch. CrewFO can always help. Pick up the phone or send us an email.

Read this article and aren’t sure what to do next?

CrewFO was set up specifically to assist Yacht crew with the difficult things in life like tax. Get in touch or go to www.crewfo.com

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