Tax Refunds for Offshore Oil & Gas Workers

Tax Refunds for Offshore Oil & Gas Workers

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 claimed under 24 months.
  • Offshore travel expenses, which cover the kind of transportation you use to and from your platform, whether you drive, ride a public transport or fly to your destination. Even the amount you pay for the taxi fare from your hotel to the heliport is due a tax rebate.
  • Offshore hotel bills in the event that you need to rent accommodation the night before flying to your offshore platform.

How To Claim Back Expenses As An Offshore Worker

On top of these, there other expenses that you can claim back tax, especially if you pay them out of pocket. But you must keep receipts and records of all expenses, especially because the cost can vary. Hotel bills, in particular, are rarely the same, even if you stay in the same property. Lack of official documents and record will make getting a tax refund bleak. You can claim a tax refund for the last 4 years. As long as you file a claim before the term limit, you could get overpaid tax back.

How much off a tax refund can you expect?

The average amount is anywhere between £600 and £700 per year. So imagine how much you will receive for a 4-year tax refund. You will be able to fund a family holiday or even make a down payment for a new car.

Photo by Zbynek Burival on Unsplash

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