So they should be getting hold of information that will make the most of their time on board and set themselves up for the future whether their goal is to buy a property start a business or save for.

Superyacht crew tax advice. He has worked in UK taxation for more than 40 years. Yacht Management offers an array of services including but not limited to. 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.

Contact us if you would like some help or discuss your situation. With new changes to how tax authorities are communicating account holder information between each other there could be far reaching implications for superyacht crew. The Common Reporting Standard could have a dramatic impact on your finances by revealing where your tax responsibilities lie.

Tax is hardly ever deducted from your salary when you are paid but it is your responsibility to pay any tax you may owe. A culinary trained Yacht Chef currently earns between 6000 to 12000 per month depending on experience and the size of the vessel. The yacht should provide its crew with health insurance and accident cover.

Flying Fish run a seafarers tax service for all UK crew. Just because your salary has not had tax deducted does not mean that you do not owe tax. We get that so our team at SK Tax Service aim to take away the stresses and strains of dealing with the tax office.

Marine Accounts was launched in response to a gap in the market providing yacht crew tax advice income tax return preparation and mortgage products to seafarers working on super yachts. So the key to earning tax-free income as crew on a super-yacht is to become non-resident for Australian taxation purposes. Working in the Superyacht industry has a great deal of benefits and for most this is a potentially tax-free salary.

Our advice is that you speak with Andrew Baker of Baktax an experienced tax consultant based in the UK. Unless stated otherwise all crew are responsible for handling their personal income tax and social security. You would be hard pushed to find anyone with more experience.