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  1. #11
    Join Date
    Jan 2011
    Location
    Shropshire/Empuriabrava
    Posts
    1,856

    Default Re: Reducing the tax you pay when on your boat

    The three best ways of contacting HMRC:

    1. By phone
    2. By email
    3. Buy a boat

  2. #12
    Join Date
    Jun 2009
    Posts
    10,646

    Default Re: Reducing the tax you pay when on your boat

    Quote Originally Posted by colind3782 View Post
    The three best ways of contacting HMRC:

    1. By phone
    2. By email
    3. Buy a boat
    :-)

    When we asked our accountant about the possibility of making our boat a business expense she told us that if we did, she would invite us to take our business elsewhere - it would simply be too much trouble.

  3. #13
    Join Date
    Apr 2011
    Location
    Brighton
    Posts
    3,903

    Default Re: Reducing the tax you pay when on your boat

    Quote Originally Posted by Nostrodamus View Post
    But if you liveaboard and have no other property then your boat is also your buisness address?
    See the many threads on liveaboard link about using your boat as an official address for anything if you don't have a recognised residential mooring. If you're a liveaboard with a business you have to have a business address which you either pay for or use the address of a relative or friend.

    Your "claiming all sorts": are you asking about legitimate expenses within the spirit of tax laws or dodgy scamming of the tax system which some people do?

  4. #14
    Join Date
    Nov 2007
    Posts
    28,183

    Default Re: Reducing the tax you pay when on your boat

    If you can claim in the same way as running a business from your house (which I very much doubt anyway) it really is not worth it. I did it for about 20 years when I did independent consultancy work and seem to remember the amount of tax I saved was around £100 a year, including depreciation on my computer. My accountant just entered what he thought they would accept and then just repeated it every year.

    If you did start a business and declared your income (as I am sure you would) I expect it would open a can of worms you would rather keep closed.

  5. #15
    Join Date
    Jan 2004
    Location
    Bricks & mortar: IoM. Me & boat: Aegean
    Posts
    8,554

    Default Re: Reducing the tax you pay when on your boat

    Quote Originally Posted by Nostrodamus View Post
    How about writing a book or website development?
    I wrote two books on my last boat and didn't consider for a moment claiming any of the boat as a workplace, mainly because of the hassle (and limited returns on the hassle); but also because there was nowhere on the boat I could convincingly claim was dedicated to work. If the workspace also sees private use, any tax allowance vanishes proportionally, if not completely.

    Maybe if either of the books' titles had begun "Harry Potter and..." it would have been different
    Mac

  6. #16
    Join Date
    Dec 2007
    Location
    S.W. France
    Posts
    5,748

    Default Re: Reducing the tax you pay when on your boat

    I might be dense (please don't answer that..) but isn't your problem the tax situation in where you are practicing the business? OK, you might move on frequently, so avoid the 180 day residency in any given country, but, does that make you a UK resident and able to write off your expenses for UK tax? Doubtful. MCD, above, has it, as are you not writing a cruising guide?

  7. #17
    Join Date
    Jul 2006
    Location
    Emsworth Hants
    Posts
    10,509

    Default Re: Reducing the tax you pay when on your boat

    >I was reading the article below on getting tax reduced.
    If you run a small business from your home you can claim all sorts.

    The self employed pay less tax on income details of what is involved are here: https://www.gov.uk/topic/business-tax/self-employed There are no 'claim all sorts' everything is determined by what you do. For eaxample I set up two businesses and with both of them we paid relatively low salaries and high dividends which are taxed less than salaries. Where you work doesn't matter. The URL you posted is American so the tax infomation mentioned is irrelevant here.

  8. #18
    Join Date
    Jan 2003
    Location
    Nazare Portugal
    Posts
    12,464

    Default Re: Reducing the tax you pay when on your boat

    First of all with HMRC you are not using a boat but a luxury yacht. Secondly to own a luxury yacht you must have lots of money and fiddling your tax.

    Thirdly any business MUST be set up with the intention of earning a profit.

    I was chartering through a charter company and HMRC cost me £10,000 after their view on the rules differed from my accountants. It would have cost more had they not seen that it was my accountants work that was in error.

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