Andrew is an independent yacht crew and seafarers taxation expert.

Superyacht crew tax advice. The unfortunate thing about most super-yachting crew is that it is very very rare that they are non-residents. The yacht should provide its crew with health insurance and accident cover. We pride ourselves in helping offshore yacht crew have the same onshore capabilities to those that are land.

Marine Accounts Patrick Maflin draws attention to Americas Foreign Earned Income Exclusion which entitles US superyacht crew working on foreign-flagged superyachts to a degree of tax relief US seafarers can claim the Foreign Earned Income Exclusion FEIE which allows US citizens who live and work outside of the US to claim 100 tax. Something that is important to remember is this. SK Tax Service have been advising seafarers since 1989.

Yacht Management offers an array of services including but not limited to. Specialist advice for seafarers UK yacht crew income tax return filing accounting mortgage lending. Seafarers Tax Advice for Superyacht Crew.

Contact us if you would like some help or discuss your situation. Most yacht crew are in an amazing position compared to the majority they are in an advantageous tax bracket have more freedom with taxation and very little expenditure adds Jacobs. A Sous Chef can expect a salary range of 4000 to 6500 per month and a Crew Cook will earn on average between 3500 to 6000 per month.

Living the highlife aboard the most luxurious vessels I understand tax isnt at the forefront of your mind. They will help you complete your tax return for a small fee of course but the fee they charge will out weigh the tax you will save. Gone are the days of leaving money offshore.

With new changes to how tax authorities are communicating account holder information between each other there could be far reaching implications for superyacht crew. Working in the Superyacht industry has a great deal of benefits and for most this is a potentially tax-free salary. Unless stated otherwise all crew are responsible for handling their personal income tax and social security.