26/04/2017
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Legal & Financial

The tax considerations of living abroad

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While the thought of going abroad to work or retire may be exciting, it is vital that you pay adequate attention to financial planning. The tax consequences of leaving the UK are quite complex, so it’s essential that you seek professional advice. Your residence status will be the main factor ... Read More »

VESSELS AND DEPRECIATION

  Vessels and ships as any other tangible asset that owned by and used in the trade or business of a company when affected to economic activity, like charter, are depreciable if their useful life exceeds a tax year. Depreciation methods are restricted to the straight-line or linear method and ... Read More »

Charter and Insurance

  You have a non Spanish flag commercially coded vessel and want to charter it here in the Balearics. You address your local insurance company asking if everything is ok from their part and they say yes. Well, this might not be really the case as the insurance policy alone ... Read More »

Straight out of left field

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  The landslide election last month of Jeremy Corbyn to the leadership of the Labour party came so far, and so fast out of leftfield (excuse the pun) that it caught literally everyone by surprise, not least the main man himself. The arch contrarian who had virtually defined his career ... Read More »

St James Place : Exit Strategies

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  If you plan for your exit from the yachting industry just before you leave it it will be too late. In reality you should start planning your exit at the start of your career, though few people have the foresight to do so. As optimists we will all naturally ... Read More »

Making regular money transfers abroad.

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Many people take the task of sending regular payments abroad for granted and just entrust it to their banks to get the job done. In fact, many don’t even look at their bank statements or consider the exchange rates or charges being levied for such transactions. When contemplating larger transfers ... Read More »

Carlos Espinosa

  New Express Residence Permits for Foreign investors   Since September last year and according to the Law 14/2013 for the support of entrepreneurials  (Ley 14/2013, de 27 de septiembre, de apoyo a los emprendedores) there is in Spain a new, quicker and easier procedure to obtain the legal residence ... Read More »

Carlos Espinosa

  Deletion and Cancel at the Spanish Ship´s Registry.   As a result of double matriculation of vessels in Spain and in other jurisdiction we have seen cases in which the Spanish Maritime Authorities have arrested boats which had already change to a foreign flag without applying the cancel or ... Read More »

Matriculation Tax….. The Final Word !!!!!

The following email was received from Pat Bullock of Network Consultants, who are experts in Marine Legal and tax administration. “I would like to take the opportunity of offering everyone a clear and hopefully concise update on the situation here in Spain regarding the Matriculation Tax on Charter Yachts: The ... Read More »

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