Pitfalls

CAN YOU BE SURE THAT THE 100% FOREIGN EARNINGS DEDUCTION YOU CLAIMED UNDER SELF ASSESSMENT WAS "CORRECT"?

Now that the Revenue have proceeded to investigate claims made on Self Assessment Returns it has come to light that many are incorrect.

The penalties for making a claim incorrectly can be very severe indeed.

Seatax Ltd have invaluable experience with regard to the complexities that surround claims to the 100% foreign earnings deduction as it is not as straightforward as many seem to believe. Its also inadvisable to listen to ship board talk with regard to claims, as this has in many cases led to disaster. Always check out through proper channels do not listen to gossip. There are seafarers who think that because the Revenue have not contacted them and feel they spend enough time out of the country to qualify for the 100% FED that they have no problems. This is not the case as it is ultimately the Revenues decision as to whether or not your earned income is taxable or not and therefore if you are paid gross you must declare your income to them at the end of every tax year.

Do not be lulled into a false sense of security because the Revenue have not got round to investigating your claim.

Let Seatax ensure you are entitled to the claim before it is entered and sleep easy at night.

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