While the COVID-19 is still causing panic around the world, it seems as though many countries are finally flattening the World Health Organization’s curve and hospitals are seeing fewer new coronavirus cases with every passing day. While that is exceptionally good news, we still have a long way to go before the COVID-19 lockdowns are eased, let alone, lifted.
Back To Work With Some Changes
With that being said, at least we are moving in the right direction and, hopefully soon, we will all be getting back to work. With a few changes, of course. Social distancing, even aboard ship, will still be a necessary requirement, as will new, updated hygiene measures. Both of which are designed to keep crew members safe and healthy and to reduce the spread of COVID-19 until an effective vaccine is created.
Another factor to consider now, even before the lockdown restrictions are eased and seafarers can go back to work is that you might want to file your taxes early. Claiming your back taxes for the period in which you weren’t working is important, can release some much needed cashflow and can save you a lot of time and potential penalties later on. Contact an experienced tax professional today to learn more.
What The UK Government Is Doing To Support Seafarers
Although governments all over the world have had their hands full dealing with the COVID-19 crisis, the UK government has still been able to create schemes designed exclusively for self-employed workers and those contracting as a limited company. The first scheme is called the Bounce Back loan is available to those who are contracting as a Limited Company. This can be especially helpful for seafarers who have been laid off or furloughed as a result of the COVID-19 crisis.
The second, is a self-employed scheme which offers financial assistance for self-employed workers, including seafarers who have been out of work since the lockdown restrictions were first implemented.
The final scheme is furlough, this option is not only available to employees but also contractors who are working via an umbrella company.
Getting back to work will certainly add a layer of positivity onto the current situation, we must all remember to stay safe and healthy and avoid others if we feel ill.
Contact Binks Overseas
To learn more about overseas contracting, contact Binks Overseas today and speak with a payroll specialist who can answer any questions you might have about your company’s payroll needs.
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