Are you employed in the oil and gas industry? It is important that you are aware of the rules of tax and National Insurance (NI) in your sector to ensure you don’t overpay tax or that you don’t get in trouble with HM & Revenue Customs. But how your tax and NI is treated, depends […]
Tax Advice For Offshore Workers If you are an offshore worker, you may be eligible for a tax refund. You just need to know how and where a refund is applicable. As an employee working offshore, you can claim back tax on the following: Travel expenses that HMRC designates as ‘temporary workplaces’. This must be […]
If there’s one job where you can save a lot of tax, or even all of it, it is working offshore in the oil and gas industry. If your country of residence has a Double Taxation Agreement with the UK, you can also claim relief under the agreement. But whether or not you can claim […]
What are the factors that will affect my eligibility for a full UK tax relief? The relevant double taxation agreement between UK and your country Your residence or country of origin The place of residence of your employer Where the rig or installation is located, whether it is in the UK or non-UK sectors of […]
Your country or place of fiscal residence Where the rig or installation is located, whether it’s in the UK sector or non-UK sector of the North Sea The total amount of time you spend on the rig per year The place of residence of your employer and other pertinent factors Self Assessment (SA) Tax Return […]
Oil & Gas Workers: What They Can Claim? The professional life for an oil and gas worker can be hard, but there are certain benefits with the job. This is especially true if you work in the North Sea because you can save a lot of taxes and, in some cases, even all of it. […]
Oil Companies’ Tax Breaks: Why They Do Not Translate To Happy Oil & Gas Workers North Sea oil producers have much to celebrate, following a cut in taxes worth £1.3 billion. As a response to industry pleas and the plunge in crude prices, UK chancellor George Osborne completely rolled back a tax hike he imposed […]
How the UK’s Shale Gas Revolution Will Affect Employment for Gas & Oil Workers The UK has traditionally been a centre of excellence in the oil field and services industry, providing thousands of employments for both local and foreign workers. The Shale Gas Revolution may change all this, although not just yet in the near […]