Tag: UK

faces a growing threat from other jurisdictions Leading accountant and shipping adviser, Moore Stephens, has welcomed the UK government's decision to issue consultation papers on statutory residence and the taxation of non-domiciliaries. But it warns that the UK shipping industry faces a growing threat from other jurisdictions.Her Majesty's Revenue & Customs' consultation papers propose a statutory residence test and certain changes to the taxation of non-domiciliaries with effect from April 2012. "These could have important implications for shipping," said Moore Stephens shipping partner, Richard Greiner, "and are generally to be welcomed".The stated objectives of the non-dom taxation reforms are to ensure that non-doms make a fair tax contribution and to encourage non-doms to invest in the UK. To achieve the latter objective, the government intends to allow non-doms to remit overseas funds to the UK tax-free for commercial investment in a qualifying business. Greiner added: "Although these measures are at present the subject only of a consultation paper, and could change as a result of responses received by the government before the cut-off date of 9 September 2011, they represent a positive development."Similarly, the draft proposals for a statutory residence test should result in rules which are clear and fair, ...

Aim to help firms operating in smaller and less profitable oil fields Britain will boost tax support for North Sea oil companies to help firms operating in smaller, less profitable oil fields, softening an earlier tax increase that had prompted warnings about the future of the nation's energy supply.The Treasury said on Tuesday it would raise the annual rate of the Ring Fence Expenditure Supplement to 10 percent from 6 percent. It also said it would continue to consult oil companies on finding new categories of field allowance.The move follows the government's surprise tax increase on North Sea oil output in March, which led the industry to warn that investment in oil and gas would suffer, increasing imports and driving UK jobs abroad.Oil companies cautiously welcomed the move. Norway's Statoil said it would resume preparatory North Sea work suspended in the wake of the tax rise, while a UK trade group called it "constructive" and the shares of smaller firms rose."They're alleviating some of the damaging effects of the tax increase and we could see more of this as the companies lobby the government," said Sanjeev Bahl, analyst at Numis."It is really letting companies increase the value of their tax ...

6 new detentions of foreign flagged ships in UK ports The Maritime & Coastguard Agency (MCA) announced today that 10 foreign flagged ships were under detention in UK ports during May 2011 after failing Port State Control (PSC) inspection.Latest monthly figures show that there were 6 new detentions of foreign flagged ships in UK ports during May 2011 and 4 vessels remained under detention from previous months. The overall rate of detentions compared with inspections carried out over the last twelve months was 3.29% this is slightly down from Aprils twelve month rate.Out of the detained vessels 4 were registered with flag states listed on the Paris MOU white list, 4 were registered with flag states on the grey list none were registered with flag states on the black list and 2 were unregistered.1. In response to one of the recommendations of Lord Donaldsons Inquiry into the prevention of pollution from merchant shipping and in compliance with the EU Directive on Port State Control (95/21/EC as amended), the Maritime and Coastguard agency (MCA) publishes full details of the foreign flagged vessels detained in UK ports each month.2. Inspections of foreign flagged ships in UK ports are undertaken by surveyors from ...

Aims to show the importance of seafarers Commissioned by Seafarers UK for Seafarers Awareness Week (6-12 June), 'The Vanished' video is intended to shock viewers into understanding how dependent the UK is on ships and seafarers to supply essential food, fuel and goods.

It is essential to ensure that their legitimacy is enshrined in law Officers union Nautilus International has given support to the UK government over its plans to establish a legal framework for armed guards on ships.While accepting that armed protection is now widespread, with UK flagged vessels among the growing number that routinely employ private security personnel on ships that sail through waters where pirates operate, Nautilus nevertheless says it is essential to ensure their legitimacy is enshrined in law.Amending existing statutes to allow for firearms on merchant ships is absolutely essential, said Andrew Linington , the Anglo-Dutch unions campaigns and communications director.

Shifting the cost burden on shipowners New legislation to clear up uncertainty over who should pay for the salvage of uninsured wrecks in UK waters has shifted the expense on to British shipowners and owners whose ships call at UK ports.The situation of who pays is unclear if a wreck is outside port limits, according to Andrew Webster, an insurance broker with JLT Specialty.But shifting the cost burden on to shipowners has arisen under the International Convention on Wreck Removal, which is being implemented by the UK through a private members bill, the Wreck Removals Convention Bill.

The UK is on a dangerous course The UK is on a "dangerous course" said Mark Dickinson, general secretary of Nautilus International in a talk at the Houses of Parliament last week. Hosted by the All-Party Parliamentary Maritime and Ports Group on the UK's shipping policy or rather, lack of it, Mr Dickinson said that despite appearances, governmental policy was chipping away at the foundations of the UK's industry.Along with a lack of coherency and detrimental tax regimes, there have also been deep cuts to maritime safety. Training and coastguard budgets have been slashed, there is the likely loss of the Marine Incident Response Group and uncertainty over the search and rescue helicopter service.Mr Dickinson said, "The waters around the UK are not only busier with increased commercial and leisure traffic but face increasing navigational hazards as a result of offshore oil and gas activities, renewable energy developments and the acknowledged increased frequencies of extreme weather conditions. At the same time, global and regional seaborne trade has expanded dramatically and merchant shipping operations have been transformed in the past 25 years."Bigger and faster ships present a whole range of new challenges in terms of monitoring and regulation, and dramatic accidents ...

Southwold - tankers to stay Ship-to-ship (STS) oil transfers will be allowed to continue off the UK's Suffolk coast.UK Shipping Minister Mike Penning said the Sole Bay area, off Southwold, was the best place for ship-to-ship transfers in UK waters - despite severe opposition from local residents and the tourism industry.STS tanker transfers, many of which have sailed from the Baltic Sea ports, to load larger vessels anchored off the coast, have been taking place for years, but this practice was due to be outlawed by the previous Labour Government.That legislation was overturned by the new UK Coalition Government - following an Early Day Motion signed by Suffolk Coastal MP Therese Coffey and Waveney MP Peter Aldous - and plans were announced at the end of last year to limit the practice to Sole Bay.Penning announced to the House of Commons this week that the transfers would continue to take place off Southwold, under strict conditions."Having taken account of all the representations made, both in the main review and in the extension of the review in February and March, I have again come to the conclusion that this is the appropriate course of action," he said."The recognition of these waters ...

Adequate procedures to tackle bribery All shipping companies operating from Britain will be legally required to have "adequate procedures" to tackle bribery in place from July 1, maritime lawyers said after Justice Secretary Kenneth Clarke yesterday unveiled guidelines on how the Bribery Act 2010 will apply in practice.No exemption is available for so-called facilitation payments, which in common with many other jurisdictions, will be designated as bribes. Petty graft, including small gifts to port officials, will thus technically be unlawful.However, prosecutions are considered unlikely if these are properly accounted for, and owners can plausibly argue that local culture leave little alternative.But corporate entertainment, including wining and dining, taking potential clients to major sporting events or paying for them to go on site visits, will be acceptable where "reasonable and proportionate".

New rules establish Equality Act 2010 at sea Discrimination, harassment or victimisation on grounds of age, disability, gender, race, religion, sexual orientation and gender reassignment will be banned on British passengerships and non-UK passenger vessels in ports in England, Wales and Scotland.There will be new regulations that will establish the provisions of the controversial Equality Act 2010 at sea.It is said that new rules will apply from October 1 this year to UK vessels anywhere in the world. They will also include a local law defence for actions necessary to comply with the laws of other countries.Source: Safety4Sea