Tax Safe Ltd specialise in the UK income tax affairs of Britons who are in full-time overseas employment and who retain accommodation in the UK.
All of our Tax consultants are former HMRC Officers with vast experience of dealing with Non Residence, Seafarers Earnings Deduction, and Foreign Tax credit Relief etc.
Because of constant changes in legislation directly governing the tax affairs of Britons working abroad, the number of concerned Expats has grown and consequently so has the client bank. Despite this, the company continues to provide what we consider to be an unrivalled professional and personal service at a reasonable annual cost.
Initially, we advise clients on how to achieve UK tax exemption on overseas income by becoming Non Resident (NR) for UK tax purposes. Alternatively, we can assist any individual who is unable to achieve NR status by, where appropriate, submitting a claim for Foreign Tax Credit Relief (FTCR) for taxes paid overseas to offset the UK tax liability arising on the overseas income.
We liaise with HMRC on behalf of our clients regarding all matters concerning completion of individual’s annual Tax Returns, arranging No Tax (NT) code numbers where appropriate, claims to exemption from UK income tax on overseas income under the NR rules, Seafarers Earnings Deduction (SED), claims to FTCR and income from property that is let.
HMRC effective from 6 April 2013 introduced a Statutory Residence Test (SRT) that will affect all citizens working or living abroad. .
A Seafarer is “someone who performs their employment duties on a ship”. Offshore installations, used in the oil and gas industry, are not ships and workers on mobile offshore drilling units, semi-submersibles and jack-up rigs are not “seafarers” and are not entitled to the deduction.
UK Residents working overseas can claim credit for tax paid overseas to offset UK tax liability arising on the overseas income, provided original documentation to support this is obtained from the employer and/or overseas tax authority. In addition, a schedule of the number of days spent in each country for which FTCR is being claimed, in each calendar year, will be required.
The majority of individuals who file annual Self Assessment Tax Returns are likely at some stage to be subject to an in-depth enquiry into Tax Return entries. This is a fact and whereas such enquiries should not be an annual event, some individuals may be selected more than once!