Marine Industry and Fisheries

Operating in the marine and fishing industries often means facing unique pressures. These range from navigating complex licensing and fuel duty claims to managing seasonal income and staying compliant with ever-changing regulations relating to seafarer tax.

Our team of marine accountants specialise in understanding not only the issues and compliance requirements, but the strengths of the industry.

At TC Group, we go beyond the basics. ‘Advice’ isn’t just a list of options – it’s about understanding your operation, your goals, and giving you clear, confident guidance to seize opportunities and build long-term stability.

We work with a wide range of marine and fishing clients, including naval architects, offshore contractors, divers, consulting engineers, wild fisheries, and fish farms. We also advise individuals and businesses on specialist areas such as seafarers’ earnings deduction.

Our hands-on experience means we’re well-versed in the specific issues you face, including marine mortgages, quota purchase and sale, shared fishing arrangements, licensing, and more.

Key services for Marine Industry and Fisheries

Compliance & outsourcing

National Insurance

Seafarer's Deductions claims

Tax relief claims

VAT

Tax residency and double taxation

Bookkeeping

Payroll

Advisory Services
Employment and HR support
Grant and investment support
Raising capital and corporate
Finance solutions
R&D tax reliefs
Succession planning

Free, no-obligation consultation

Our team’s knowledge and experience guarantees that you have the right people on your side. Book a free consultation with our Marine Industry and Fisheries team to find out more

HR Outsourcing

For ongoing HR support within marine and fishing businesses, our outsourcing subscription packages enable us to take many routine challenges off your plate, supported by our marine accounting expertise. Fees are flexible based on headcount and the number of hours required per quarter.

OUTSOURCED FINANCE DEPARTMENT

TC Group has the expertise and resource to be your entire finance team, ensuring you have the support and information needed to achieve your goals.

Research & Development

Research and Development (R&D) tax reliefs support companies working on innovative projects, and our marine accountants advise on qualifying activity.

Succession Planning

Our marine accountants pride themselves on taking the time to understand your personal objectives, equipped with sound advice and a tailored, insight-driven strategy.

VAT Planning & Structuring

Specialist marine VAT planning and compliance structuring to uncover opportunities and minimise your tax liabilities.

INHERITANCE TAX

Business Property Relief has been reformed from April 2026. While the existing nil-rate bands and exemptions will continue to apply, the previous maximum 100% relief rate will only be available for the first £1m of combined agricultural and business assets.

Any value above this threshold will be subject to a reduced relief rate of 50%, resulting in an effective tax rate of 20%.

TC Group can help you plan for the change in relief. Contact our marine accountant team today to discuss how these changes may affect you and what steps you can take now.

FAQS

WHY DO YOU NEED A SPECIALIST MARINE AND FISHERIES ACCOUNTANT?

TC Group’s hands-on experience means we’re well-versed in the specific issues you face, including marine mortgages, quota purchase and sale, shared fishing arrangements, licensing, and more.

WHAT IS A MARINE MORTGAGE?

A marine mortgage is a legal agreement (a secured loan) where the vessel acts as collateral for the loan.

WHAT IS THE SEADARERS’ EARNINGS DEDUCTION?

This is an HMRC tax relief that allows qualifying UK-resident (or EEA-resident) seafarers to claim up to 100% tax relief on their foreign earnings.

WHO QUALIFIES FOR THE SEAFARERS’ EARNINGS DEDUCTION?

To get the deduction, you must have:

Worked on a ship.
Worked outside of the UK long enough to qualify for the deduction – usually a minimum of 365 days.
Been resident in the UK or resident for tax purposes in a European Economic Area (EEA) State (other than the UK).

OUR Marine Industry SPECIALISTS

Becky Thomas
Partner
- 01326 375587
- BeckyThomas@tc-group.com
Sean Mitchell
Associate Partner
- 01872 272047
- SeanMitchell@tc-group.com

Marine Industry and Fisheries