Implications of giving up deep sea.

[TheFunktopus]

Ahoy hoy!

As per the thread title really, I'm contemplating giving up deep sea. I won't really expand too much on my reasoning, as this isn't what the thread is about, but 6 weeks into a 3 month contract, I find myself thinking that working deep sea (cargo at least) is just no life at all.

What I want to ask is what the likely implication of taking a short sea job, perhaps on offshore boats, or ferries would have on the 3 month's pay and holiday I'll have accumulated when I sign off in April. If I quit, will I be hit with a retrospective tax bill at some point in the future?

The whole point of this exercise is for me to build up enough of a deposit to buy my own home, and having to hand roughly 25% of that to the taxman may give me enough cause to grin and bear another 3 month contract, if I absolutely have to.

Thanks for reading, and sorry for the somewhat vague post, as you can understand, I wouldn't want my present employer finding this out.

[HolyNougat]

It's impossible to say on the information you have given.

Basically short sea work does not count for SED so by the time you go on leave in order to avoid being stung you need to have accumulated enough days to make a claim to cover your trip.

If you're not familiar with this system, I suggest talking to a tax consultant.

However, just because you leave deep sea, it does not automatically follow that your last contract would be taxable - it is all to do with your SED claim.

[Silvertop]

There is a link on the HMRC website on how to calculate and maintain your tax free status, but to be really safe I agree with HolyNougat and get a tax consultant to do it for you, I have always had one and for the small fee they take all the hassle out of it.

On your question above, theoretically if you have earned the leave deep sea, they won't hit you with a retrospective tax bill, what usually happens is if you have to pay tax, they will assume you will keep doing it and might take if off you in the future and you'll have to claim it back, which goes back to the above, with a tax consultant they make sure each year you pay/don't pay and it is sorted, no back claims or nasty bills through the door!!

In the big scheme, if you're not happy, a change might be what you need, look for the reasons you want to move, not the reasons stopping you from moving, and hopefully the answer will slap you in the face!

[EH75]

Did deep sea cargo as a cadet. Always said I would never do it again and still feel that way. Currently working on cruise ships and although it's deep sea, it's better in every aspect.