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Legal & Finance

9 Steps Mortgage Guide for Yacht Crew

Posted: 22nd Apr 2016

Written by: Patrick Maflin

Buying your first home or buy to let is an event that will stay with you for life, mainly for all the right reasons! However it can be a daunting experience nonetheless as there are lots of parts to the process that as a first tim... Read More

French Commercial Exemption: Has the veil been lifted?

Posted: 9th Mar 2016

Written by: Janet Xanthopoulos

There has been a lot of confusion since June 2015 about the new French Commercial Exemption conditions and enactment of the new French regulations governing VAT exemption. If the new conditions are more precise, there are still ma... Read More

US Seafarers: The Intelligent way to Declare Income

Posted: 26th Feb 2016

Written by: Patrick Maflin

If you asked a cross section of yacht crew what it was about the job that keeps them coming back I’m sure most would say that it’s the travel and lifestyle but, there are those like myself who may be a little more candid in acknow... Read More

When are Seafarers 'ordinarily working in the UK'?

Posted: 12th Feb 2016

Written by: Heidi Watson & Mark Howard

The Administrative Court has recently had to grapple with the issue of whether seafarers, who work on vessels which spend all or most of their time outside the UK, qualify for automatic enrolment into a UK-based pension scheme. Read More

Seafarers Earnings Deduction: HMRC’s Best Kept Secret

Posted: 8th Feb 2016

Written by: Patrick Maflin

The Seafarers Earnings Deduction (SED) as it has become known is a unique piece of tax legislation that allows seafarers to claim a 100% tax exemption on their foreign earnings. It stands as testimony to a bittersweet battle fough... Read More

Mortgages: Alan Bond & Credit Ratings

Posted: 2nd Feb 2016

Written by: Patrick Maflin

The rise of Alan Bond has always been a fascination of mine. How did this sign writer end up bank rolling an America’s Cup team and owning Channel Nine? While numerous rumours abound, and the nature of the man was complex, one thi... Read More

Dominion Marine - The Monaco Solution

Posted: 27th Jan 2016

Written by: Karen Hockney

The superyacht sector generates thousands of jobs and billions of euros for France and Monaco each year. A high percentage of the world’s superyachts pass through both jurisdictions every summer, or berth in one of the many pleasu... Read More

A Rough Guide to Buying Your First Rental Property

Posted: 22nd Dec 2015

Written by: Patrick Maflin

It seems in yachting that a true measure of one’s success is not whether you have made the rank of Captain or worked as Chief Engineer, but rather the number of houses you own. Depending on your chosen area and the term of your i... Read More

Advice on SEAs for Large Yachts

Posted: 3rd Dec 2015

Written by: Nautilus International

As the world of yachting has developed it has become an integral part of the wider maritime
industry. It is adopting similar approaches to technical and crew management, and mainstream human resource management processes are beco... Read More

Filing as a Seafarer in the UK: My Story

Posted: 18th Nov 2015

Written by: Patrick Maflin

When I first joined the industry as a deckhand I had been advised rightly or wrongly at the time to get a captains letter and open an offshore account. I noticed that all of my other crew members were doing this and so I simply ... Read More

VAT Changes to French Commercial Exemption

Posted: 16th Nov 2015

Written by: Dominion Marine

Following the 2013 ECJ ruling against France and the French Exemption for commercial yachts, the French Authorities have produced new regulations BOFIP 1205-15. These regulations set out the exact requirements for a charter yacht ... Read More

Yacht Engaged in Trade (YET) - Compliance Explained

Posted: 4th Nov 2015

Written by: Mark Robinson

Yacht Engaged in Trade or YET, the new initiative by the Republic of the Marshall Islands Registry, was the hot topic of the moment when launched at Monaco Yacht Show 2015. The initiative certainly raised some eyebrows while also ... Read More

Myth Busters: UK/ Spanish Tax Treaty

Posted: 15th Oct 2015

Written by: Patrick Maflin

The Seafarers Earnings Deduction (SED) is arguably the taxation scheme of choice for most Seafarers nowadays working on foreign going yachts. It is open to all EU member states whose citizens qualify as resident in the UK under th... Read More

What to do with End of Season Tips?

Posted: 13th Oct 2015

Written by: Horizons Financial Services

Many yacht crew are lucky enough to end the season with some healthy tips… in cash! Is there anything that can be done with these to prevent you having to walk around with a bundle of notes or stowing it under your mattress? Read More

PYET: Solution for Dual Use of a Yacht in the Med

Posted: 12th Oct 2015

Written by: Janet Xanthopoulos

After nearly two years of hard work along with the Republic of the Marshall Islands (RMI) Registry, WES, the French Customs and the Port State Control Authorities, Rosemont Yacht Services announces a new solution to help owners ov... Read More

The Superyacht Industry is Changing

Posted: 2nd Sep 2015

Written by: Jenny Oliver/Dominon Marine

The pressure is mounting in the European Union for all member states to reduce their budget deficits. The northern European countries are becoming increasingly intolerant of fiscal indiscipline in the south, and are pushing a very... Read More

Myth Buster: UK Residency Laws

Posted: 31st Aug 2015

Written by: Patrick Mafin

Residency lies at the the heart of any tax debate and the difference between being resident or non-resident in the UK can often result in an individual paying tax or not. In recent weeks we have been receiving a growing number of ... Read More

Paris Memoranda of Understanding (MoU) on Port State Control

Posted: 29th Jul 2015

Written by: PYA

The PYA would like to inform you that the Maritime Authorities of the Tokyo and the Paris Memoranda of Understanding (MoU) on Port State Control will launch a joint Concentrated Inspection Campaign (CIC) on Crew Familiarization fo... Read More

Foreign Crew in the US: Visa Dos and Don'ts

Posted: 18th Jun 2015

Written by: Northrop & Johnson

Recently, there has been a flurry of complications surrounding yacht crew and B1/B2 visas. In an effort to obtain a better understanding of the underlying issues, Northrop & Johnson Crew Services Manager Duncan Bray not only sat d... Read More

Requirements for Non EU Flagged Yachts in EU Waters

Posted: 18th Jun 2015

Written by: PYA

The requirements concerning all non-EU flagged vessels and all vessels with non-EU crew on board are currently in particular focus by the Mallorcan Police Border Office. Read More

Myth Busters: Tax Exemptions for US Seafarers

Posted: 16th Jun 2015

Written by: Patrick Mafin

The United States has one of the most progressive tax systems in the industrialised world. Taxes are imposed on net income of individuals and corporations by the federal, most states, and some local governments. Read More

French VAT Changes - for the Long-Term Good

Posted: 10th Jun 2015

Written by: Penny Hammond-Smith

Understanding the implications of the BOFIP 12.05.15 for commercial yachts. The Bulletin of May 12, 2015 which integrates the existing French Commercial Exemption (FCE) has already generated a lot of chatter and some concern. Read More

Tax,Yacht Ownership and Registration: What to expect?

Posted: 2nd Jun 2015

Written by: Rosemont Yacht Services

Since the ECJ ruling “Bacino Charter Company” it has become increasingly difficult for owners of commercially registered yachts to continue to operate their yacht on a real commercial basis. This arises from the unprecedented numb... Read More

Bonanza Time for Flag and Port State Control

Posted: 2nd Jun 2015

Written by: PYA

Coming soon to a yacht near you - bonanza time for Flag and Port State Control. As a courtesy to allow ship owners more time to become compliant, most Port State Control (PCS) authorities have been requested to postpone enforcemen... Read More

Human Rights at Sea

Posted: 19th May 2015

Written by: Darren Winter

The first guest blog from David Hammond, CEO & Founder of Human Rights At Sea. Human rights at Sea (HRAS) continues to work directly with organizations in SE Asia in the ongoing matters of migrants abandoned at sea by traffickers. Read More

Hours of Rest: Where does the buck stop?

Posted: 7th May 2015

Written by: Rod Hatch

“An Inspector Calls” was a popular morality play written by the English playwright J.B. Priestley at the end of WW II. As Priestley himself remarked about the characters in his play, “They are losing all pride and interest in the ... Read More

Myth Busters: Offshore Banking and the Offshore Disclosures Facility

Posted: 17th Apr 2015

Written by: Patrick Maflin

This month I had the opportunity to sit down with Amanda Taylor from Marine Accounts for a Q&A session on the Offshore Disclosures Facility. Read More

Myth Busters: The Truth Behind Filing Under the SED

Posted: 19th Mar 2015

Written by: Patrick Mafin

In recent weeks tax with an emphasis on the Seafarers Earnings Deduction has been a hot topic of debate on social media and yachting forums. The aim of this article is to try and de-bunk some of the myths that are becoming common ... Read More

Financial Success From Yachting: 10 Basic Rules

Posted: 5th Jan 2015

Written by: Peter Brooke

I am often asked by junior and senior crew alike what would be my top 10 financial tips for anyone beginning a career in the yachting industry. Read More

Effective Ways To Get Out Of Debt

Posted: 1st Nov 2013

Written by: Debt Legal

Sir Mervyn King, the Bank of England's outgoing governor, says he believes low interest rates should remain in place to assist those UK citizens who are deeply in debt. Smart Financial Planning's Steve Martin offers this advice f... Read More

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