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….
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