Paid in USD and need GBP Loan?

fez1975

Hi,

I am UK Seafarer that gets paid in USD and due to UK Seafarers Earning Deductions I do not pay Tax.

I have been looking into getting a loan for some home renovations and all was going through fine untill the paperwork was submitted, at which point they pulled out due to my wage slips not showing any Tax and that I'm payed in USD.

I tried my best to explain that I am a UK resident and this is all legal but it did not change the outcome which was a no for the above reasons.

Would anyone have any ideas or recommends for my situation?

Thanks in advance.

Arleen

When you claim seafarers, don't you have to fill in self-assessment every year? Even if you don't, filling them will give you a paper backbone for your income which you can then present to people as proof of income.

mcpitman

I don't think the issue is tax based, it would be due to the receipt of foreign currency.


Lenders do not like this due to the fluctuation in current exchange rates and impending EU/Brexit impacts.