Marine Accountants

Marine Accounting & Tax Specialists for Yacht Owners, Crew & Marine Businesses

Whether it is related to tax concerns surrounding employment, staff, crew, residency, jurisdiction or more, our team has a wealth of experience in helping businesses of all sizes overcome such issues.

Expert Financial, Tax & Advisory Services for the UK and Global Marine Industry

At Odiri Tax Consultants & Accountants, we bring specialist knowledge and years of experience to the complex and highly regulated world of marine taxation. We work closely with:

Yacht owners and operators
Seafarers and international crew
Marine engineers and builders
Boat dealers and marine retailers
Sports professionals and marine brand ambassadors

Our Marine Accounting & Tax Services

Our marine services are designed to reduce risk, ensure compliance, and protect your financial interests—whether in UK waters or operating globally.

Seafarers’ Earnings Deduction (SED) – Claim & Compliance Support

We are trusted experts in preparing, reviewing, and defending Seafarers’ Earnings Deduction (SED) claims for UK-resident seafarers working aboard qualifying vessels outside the UK’s territorial waters.

Our services include:

Assessing contract eligibility and qualifying vessel status
Calculating and verifying qualifying days at sea
Reviewing logbooks, travel records, and employer evidence
Preparing and submitting accurate SED claims to HMRC
Representing clients in the event of HMRC enquiries or challenges

We ensure your claim is robust, HMRC-compliant, and helping you avoid costly errors and rejections.

We handle SED claims for crew members, captains, engineers, deckhands, and offshore professionals across global fleets.

HMRC Investigations, Disputes & Voluntary Disclosures

With increasing scrutiny of marine businesses and offshore income, our team provides expert defence and representation during HMRC enquiries and disputes. We support clients facing:

Rejected SED claims or HMRC challenges
VAT audits and penalty reviews
Investigations into undisclosed offshore income or assets
Residency and domicile disputes
Disclosure of historic non-compliance via HMRC’s Worldwide Disclosure Facility

We take a proactive, evidence-led approach to protect your position, mitigate penalties, and resolve issues efficiently.

Payroll, Crew Tax, and International Employment Advisory

Operating a crewed yacht, marine charter business, or employing technical teams offshore? We manage the full scope of international marine payroll and tax compliance. Our services include:

PAYE registration and payroll processing
Real-Time Information (RTI) reporting
International tax residency advice
National Insurance and social security contributions

Whether your crew is UK-based, EU-resident, or working globally, we keep your business compliant and your staff paid on time.

Marine Business Setup, Compliance & Company Accounts

Running a marine brokerage, charter operation, or supply business? We provide end-to-end support for your company’s setup, accounts, and long-term tax advisory services. We can help you with:

Choosing the optimal structure (sole trader, LLP, UK limited company, offshore entity)
Registering your marine business with HMRC
VAT registration and MTD-compliant submissions
Cloud-based bookkeeping and accounting solutions
Annual statutory accounts and corporation tax returns
Tax advisory services for directors, investors, and shareholders

Marine Accounting & Tax – Frequently Asked Questions (FAQs)

What is the Seafarers’ Earnings Deduction (SED) and do I qualify?

The Seafarers’ Earnings Deduction (SED) allows qualifying UK-resident seafarers to claim 100% tax relief on foreign earnings, provided they work on a vessel outside UK waters for a qualifying period (usually 183+ days in a 12-month window). To qualify, your vessel must operate internationally, and you must be employed under a valid contract. We can assess your eligibility, prepare your claim, and ensure HMRC compliance.

Do I need to register for VAT if I run a marine charter company?

Yes — if your taxable turnover exceeds the VAT threshold (currently £90,000 in the UK), you are required to register for VAT. If you operate internationally or in multiple jurisdictions, you may also need to comply with local VAT rules. We can manage your VAT registration, returns, and compliance obligations.

What can I claim as allowable expenses in a marine business?

In a marine business, allowable expenses may include crew wages and pension contributions, vessel maintenance and repairs, fuel and running costs, insurance, docking and mooring fees, safety and navigation equipment, training, charter marketing costs, legal and professional fees (such as accounting), and travel or accommodation directly related to business operations. These expenses must be wholly and exclusively incurred for the purposes of the business to be allowable for tax purposes.

I work at sea but live in the UK. Am I considered a UK tax resident?

Tax residency in the UK is determined by HMRC’s Statutory Residence Test, which considers days spent in the UK, ties to the country, and overseas work patterns. Even if you're working abroad, you may still be liable for UK tax unless your residency status is clearly established. We offer expert guidance on residency, domicile, and double taxation rules.

Can you help with crew payroll and employment tax compliance?

Absolutely. We handle international marine payroll, including PAYE registration, RTI submissions, pension compliance, and payroll processing for UK-based and international crew. We also advise on tax residency and employer obligations in cross-border scenarios.

What happens if HMRC rejects my SED claim or starts an investigation?

If HMRC challenges your claim, we will we will assist you with evidence-based documentation, legal arguments, and if necessary, represent you in appeals or disclosure processes. We also assist with voluntary disclosures and penalty mitigation.

I own a marine business. Can you help with accounting and tax returns?

Yes. We provide complete financial management services for marine companies, including bookkeeping, VAT, payroll, year-end accounts, and corporation tax. Whether you’re a broker, supplier, or charter business, we tailor support to your specific needs.

Do you offer services for non-UK residents or offshore companies?

Yes. We work with non-resident individuals and offshore entities involved in the marine sector. This includes UK tax advisory, cross-border VAT, double taxation relief, and managing UK property or income. We also support marine professionals relocating to or from the UK.

Take control of your marine finances today.

Our specialist marine accountants and tax advisors can help you identify every allowable expense, reduce your tax burden, and ensure full compliance with HMRC. We work with yacht owners, charter operators, and marine professionals across the UK and internationally. 📞 Call us today to discover how Odiri Tax Consultants can help you keep more of what you earn while staying compliant.