Announcement

Collapse
No announcement yet.

SED Tax Return Selfassesment

Collapse
This is a sticky topic.
X
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • agibbs98
    replied
    Most I know used the accountant the first time, just because it is complicated and HMRC DO NOT help you if the claim goes wrong. After that don’t bother with an accountant for sure, as it’s easy from there. I don’t know anybody that managed their first claim without an accountant under the new online gateway system.

    Leave a comment:


  • McBoo
    replied
    I'm paid my salary without any tax deducted.

    Tax free allowance comes into it because HMRC website is showing my income this tax year including that from my sponsorship and salary - combined this is over the £11850 tax free amount. So regardless if the sponsorship is taxable or not, once I have a valid SED claim then if I have a full £11850 to use which would cover the training allowance I don't have to worry.

    I am determined to learn to do SED myself and avoid paying an accountant. Once my claim period is rolling it should be a lot simpler.

    Sent from my ONEPLUS A6013 using Tapatalk

    Leave a comment:


  • agibbs98
    replied
    Why does your tax free allowance come into this? You’re only claiming income tax you’ve already paid back. If you’re claiming say April 2018 - April 2019 all you ask for is whatever amount is listed under “income tax year total” from your March 2019 payslip.

    Your training allowance isn’t a salary, so shouldn’t have been tax or NI deductible anyway. So if you believe it pushed you over your allowance then either the company has paid you wrong or HMRC have got your situation confused. Either way, sounds like you need an accountant unless you want to be dragged over the coals proving your eligibility with HMRC’s dreaded “you’ll hear back within 10 working weeks” postal system!

    Leave a comment:


  • Midge
    replied
    Try HMRC manuals it’s in there most scholarships, bursaries, student loans are ‘ tax free’. They have a pretty broad definition of it. Give them a call. I’m sure it’s also mentioned somewhere in the MNTB website or used to be. The bursaries given to those teacher training are tax free too.

    Leave a comment:


  • McBoo
    replied
    I will be submitting my first self-assessment once I have a qualifying period in October.

    One thing I am not sure about is that previously my cadet training allowance was below the annual tax free allowance so was never an issue.

    However, for the tax year 2018-2019, my income combined with my cadet training allowance paid the first half of the year takes me over this.

    I had heard before that the 'cadet training allowance/sponsorship allowance' is tax free but I can't find reference to this anywhere.

    If you claim SED can you then receive other income up to the tax free allowance? If so my sponsorship for 2018-19 would be within this.

    Leave a comment:


  • agibbs98
    replied
    My tax claims always started with my first “night out” onboard, sadly living abroad or being on holiday wasn’t considered (according to the accountant).

    Leave a comment:


  • Davos
    replied
    If all the dates meet the criteria on the help sheet, can an eligible period start with a holiday? i.e. 11 day holiday, 6 days in uk, 4 months sea, 4 in uk, 4 sea again.. Or does the first absence at the start of an eligible period have to be a ship? TIA

    Leave a comment:


  • Inland Pirate
    replied
    I'm a little confused, went from a PAYE land job at the start of November (Where I paid no tax due to it being minimum wage), and have now got a job at sea paying out of a foreign account. Do I have to pay tax this April on the sea earnings (As my combined wages will take me over 11,500 for the April 18 - March 19 year), and then claim it back once I've built up a qualifying period?

    Super confused and tempted to just pay a wise man a wodge of cash to sort this out for me so I don't end up owing tons down the road

    Leave a comment:


  • chris
    replied
    Yeah what eh75 says. I'll be doing the same this October. My 5 year sed period has met its end too. Too much time alongside in the UK.

    Leave a comment:


  • size4riggerboots
    replied
    It's what I was thinking... just don't want to get it wrong and get myself a whacking fine!!

    Leave a comment:


  • EH75
    replied
    Would it not just a case of entering whatever you earned up to novemeber in the "seafarers earnings deductions" box, this will then be deducted from the taxable amount and it will present you with a tax calculation at the end based on whatever is left over? That's probably what I would do but I'm not a tax advisor!

    Leave a comment:


  • size4riggerboots
    replied
    Hi!! Sadly no, I'm referring to Nov 2017.... I'm doing my tax return as late as possible because I've been putting it off for this very reason... Has anyone experience of filing a partial claim themselves or is it that complicated that its best getting a tax adviser in??

    Leave a comment:


  • chris
    replied
    Hello stranger. Apr 6th til November 2018 is in the 18/19 tax year so you only need to worry about your partial claim later in the year. From apr 6th onwards.

    Leave a comment:


  • size4riggerboots
    replied
    So it's that time again, and this year (2017/18) my days finally ran out It's been rolling since 2012 and I hit the more days in the UK mark in November. Doing my return at the moment and trying to figure out if I can do a partial claim for the wages earned before november???

    Leave a comment:


  • HarmlessWeasel
    replied
    Originally posted by moose View Post

    If you have your days in hand, does it match your excel sheet?
    Nope. Days in hand is the only thing that doesn't match. It seems that the app gives twice as many days in hand as the excel sheet. I think it's something to do with how they define a day in hand

    Leave a comment:

Working...
X