SED should be extended to all those at sea for over six months a year
08 November 2024
The 'working abroad' income tax benefit Seafarers' Earnings Deduction (SED) was introduced to keep the UK marine sector competitive and attractive to new entrants.
At the time of introduction, the majority of UK-flagged vessels were foreign-trading cargo vessels, and therefore the rules governing which crews were eligible were written as such.
Now the UK maritime industry is more focused on specialised vessels and passenger vessels, and these undertake invaluable work in UK coastal waters.
The crews still spend six months or more a year at sea, living onboard, away from home and rarely setting foot ashore, regardless of the jurisdiction their vessel may be in.
Is it not time for the rules around claiming SED be reviewed in favour of those of us who work as career mariners?
Should not holding a certificate of competency and being onboard ship in excess of six months a year count as being a seafarer for tax purposes?
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