Marine Accounts October 26 Newsletter Introducing Cormorant Ocean Racing Read now 6 minute read What Does a Second Mate Do on a Superyacht? A second mate on a superyacht is a licensed officer responsible for navigation, safety, and watchkeeping. Learn what they do, how to qualify, what they earn, and how tax exemptions like the Seafarers Earnings Deduction may apply to your income. Patrick Maflin Patrick Maflin 01 Sep 2025 3 minute read Starting a Limited Company - What Nobody Tells You Bringing home a new baby comes with excitement—and a mountain of unknowns. Starting your own limited company is no different. It’s a milestone moment that can feel overwhelming without guidance. There’s no instruction manual, but the decisions you make in the early days matter. Here are some practical, often overlooked tips to help you get started the right way. Here are our Top Ten Starter Tips... Patrick Maflin Patrick Maflin 19 Aug 2025 3 minute read How HMRC Treats Sick Pay for Seafarers: What Counts as Taxable? For seafarers, periods of illness or injury can raise challenging tax questions. Especially when insurance payouts or employer funded support are involved. Not all income received during medical leave is treated the same by HMRC. Some payments may be tax free, while others are taxed as regular employment income. The deciding factor usually comes down to how the illness arose and who paid the benefit. Patrick Maflin Patrick Maflin 04 Aug 2025 5 minute read How to Become a Nurse on a Superyacht Dream of nursing at sea? Discover how to become a yacht nurse and combine your medical career with global travel, luxury living, and potential tax-free earnings. Learn what the job involves, how much you can earn, and how to get started. Patrick Maflin Patrick Maflin 01 Aug 2025 4 minute read Special Purpose Vehicles (SPVs) in Property: Strategic Structures for Smarter Real Estate Investing When it comes to property investment and development, the structure through which assets are held can significantly influence financial performance, tax efficiency, and legal exposure. One increasingly popular structure in the real estate world is the Special Purpose Vehicle (SPV); a standalone company set up solely to own or manage a specific property or project. Often formed as a limited company, an SPV is legally distinct from its shareholders and has no purpose beyond the asset it was created to hold. This simplicity and focus are what make SPVs particularly useful in property transactions, where clarity of ownership and liability containment are critical. Patrick Maflin Patrick Maflin 14 Jul 2025 2 minute read Maltese Social Security and the Yachting Industry In the yachting world, where professionalism and precision are vital, crew welfare and legal compliance are key pillars of responsible yacht ownership. For yachts registered under the Maltese flag, ensuring your crew is correctly enrolled in Malta’s social security system is not only a legal obligation but a smart business move. Patrick Maflin Patrick Maflin 04 Jul 2025 6 minute read Who Needs a Boatmasters’ Licence & How to Get One? From ferries and tugs to luxury river cruises, a Boatmasters' Licence is essential for many UK waterway roles. Discover who needs one, how to qualify, what training is involved, and how to navigate the process from application to certification. Patrick Maflin Patrick Maflin 01 Jul 2025 3 minute read Australia’s Tax Residency System for Seafarers: Expensive, Outdated, and Out of Touch Gambling has been part of English life for centuries, starting with horse racing and lotteries before spreading to football betting and bingo halls. Today, the industry has grown into a highly regulated and diverse market, offering entertainment to millions of people both offline and online. England stands out for balancing its long gambling traditions with a modern digital revolution. Patrick Maflin Patrick Maflin 24 Jun 2025 « Previous Next »