³ÉÈËÓ°Òô

Tax News

Seafarers’ Wages Regulations 2024

Published on: 10 October 2024
Published by a

Specialist Tax Statutory Instruments

news-detailpage-img

Article summary

SI 2024/1015: These Regulations are made to give effect to the provisions of the Seafarers’ Wages Act 2023 (SWA 2023), which provides that operators of frequent international services which call at UK ports must either provide a declaration that seafarers on these services are remunerated at a rate equivalent to the minimum wage under the National Minimum Wage Act 1998 (NMWA 1998) or pay a surcharge. They set out the administrative detail of the regime, including how the required rate of pay, the national minimum wage equivalent rate (NMWe) is calculated and how and when harbour authorities and operators must fulfil their functions under the SWA 2023. They come into force on 1 December 2024.

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Popular Articles

Relief for employee share schemes

Relief for employee share schemesRemuneration expenses are generally deductible for corporation tax purposes as they are considered to be incurred wholly and exclusively for the purposes of the trade. However, expenses relating to shares are usually classed as capital and are therefore not

14 Jul 2020 13:21 | Produced by Tolley Read more Read more

Winding up a trust ― legal, administrative and compliance issues

Winding up a trust ― legal, administrative and compliance issuesOverviewWhen winding up a trust, there are legal formalities and compliance issues that need to be dealt with, as well as IHT and CGT consequences that flow from the termination. This guidance note considers when and how a trust comes

14 Jul 2020 14:01 | Produced by Tolley Read more Read more

FRS 102 ― tax presentation and disclosures

FRS 102 ― tax presentation and disclosuresPresentation of tax under FRS 102An entity must present changes in a current tax liability (or asset) and changes in a deferred tax liability (or asset) as a tax expense (or income) unless the item creating the current or deferred tax amount is recognised in

14 Jul 2020 11:46 | Produced by Tolley in association with Malcolm Greenbaum Read more Read more