22/05/2007
Local fishermen offered help by Taxman
Share fishermen in Ardglass and Kilkeel are being encouraged to join a scheme tailor-made to help ensure they will not be caught short when their tax is due.
Share fishermen, who are classified self-employed, receive a share of the profits or gross earnings of a fishing boat.
But research from HM Revenue & Customs (HMRC) has revealed that share fishermen often don’t save for tax and national insurance, and this can cause difficulty when the tax bill finally arrives.
The Share Fisherman Scheme, set up by HMRC, helps its members set aside money aside each month from every catch, helping them to pay tax and national insurance on time and automatically at the end of the tax year.
Ron McGruther, HM Revenue & Customs, share fishermen tax manager, said: “We don’t want to have to issue share fishermen with penalties for late and incorrect tax returns. This is why we have set up this tailor-made scheme.
“Besides this, the scheme will make it easier for share fishermen to access other benefits, including: tax credits, if they are on a low income; and other financial services, such as, loans and mortgages.”
An information pack is available from HMRC about how to join the scheme. Call 0845 0789 789, or 01779 483 314.
(JM/SP)
Share fishermen, who are classified self-employed, receive a share of the profits or gross earnings of a fishing boat.
But research from HM Revenue & Customs (HMRC) has revealed that share fishermen often don’t save for tax and national insurance, and this can cause difficulty when the tax bill finally arrives.
The Share Fisherman Scheme, set up by HMRC, helps its members set aside money aside each month from every catch, helping them to pay tax and national insurance on time and automatically at the end of the tax year.
Ron McGruther, HM Revenue & Customs, share fishermen tax manager, said: “We don’t want to have to issue share fishermen with penalties for late and incorrect tax returns. This is why we have set up this tailor-made scheme.
“Besides this, the scheme will make it easier for share fishermen to access other benefits, including: tax credits, if they are on a low income; and other financial services, such as, loans and mortgages.”
An information pack is available from HMRC about how to join the scheme. Call 0845 0789 789, or 01779 483 314.
(JM/SP)
Related Northern Ireland News Stories
Click here for the latest headlines.
23 January 2024
HMRC Issues Self Assessment 31 January Deadline Reminder
HM Revenue and Customs (HMRC) has urged the 3.8 million people yet to file their Self Assessment tax return are urged to "act now or risk facing a £100 penalty". HM Revenue and Customs (HMRC) is expecting more than 12.1 million tax returns to be filed for the 2022 to 2023 tax year along with any payment that is owed. To date more than 8.
HMRC Issues Self Assessment 31 January Deadline Reminder
HM Revenue and Customs (HMRC) has urged the 3.8 million people yet to file their Self Assessment tax return are urged to "act now or risk facing a £100 penalty". HM Revenue and Customs (HMRC) is expecting more than 12.1 million tax returns to be filed for the 2022 to 2023 tax year along with any payment that is owed. To date more than 8.
26 March 2024
Consumer Council Gives 'Top Tips' To Help Address Food Waste
The Consumer Council has outlined a number of 'top tips' to help address food waste, as the cost of a weekly grocery shop continues to remain so high. The Consumer Council said that at times it seems unavoidable that food goes-off before we get the chance to eat it. There are quite a few myths about storing food properly.
Consumer Council Gives 'Top Tips' To Help Address Food Waste
The Consumer Council has outlined a number of 'top tips' to help address food waste, as the cost of a weekly grocery shop continues to remain so high. The Consumer Council said that at times it seems unavoidable that food goes-off before we get the chance to eat it. There are quite a few myths about storing food properly.
21 March 2024
Those Eligible Urged To Get MMR Vaccine Ahead Of Easter Travel
All those eligible for the MMR vaccine have been urged to get vaccinated ahead of any Easter travel plans.
Those Eligible Urged To Get MMR Vaccine Ahead Of Easter Travel
All those eligible for the MMR vaccine have been urged to get vaccinated ahead of any Easter travel plans.
14 March 2024
Working Families Urged To Explore Childcare Savings Ahead Of Holidays
HM Revenue and Customs (HMRC) has called on working families who have yet to sign up for Tax-Free Childcare to find out how they could save money on their childcare costs in time for the school holidays.
Working Families Urged To Explore Childcare Savings Ahead Of Holidays
HM Revenue and Customs (HMRC) has called on working families who have yet to sign up for Tax-Free Childcare to find out how they could save money on their childcare costs in time for the school holidays.
14 March 2024
Alliance Calls For Action To Protect Young People Online
The Alliance Party has called for action to help young people faced with blackmail or similar situations online.
Alliance Calls For Action To Protect Young People Online
The Alliance Party has called for action to help young people faced with blackmail or similar situations online.
-
Northern Ireland WeatherToday:Cloudy with further outbreaks of rain this morning, heavy at times, especially over north Antrim. Becoming drier and brighter this afternoon with sunny spells and a few showers. Winds becoming light. Maximum temperature 9 °C.Tonight:Further showers this evening, some heavy, especially in the east, dying out early tonight. Then mainly dry with clear periods developing, leading to a touch of frost and icy patches. Minimum temperature -1 °C.