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Where to save money I put aside for tax?

Pizza_the_Action · 2023-07-20 13:03:42

Hi all, I am a seafarer and typically qualify for SED (Seafarer's Earnings Deduction) giving me tax relief as I spend over half the year at sea. That being said, I always put aside the required % of tax for the year until I know I have definitely met the requirements for this (just in case, for any reason, I was not able…

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NorthernJoe Posts: 92 Forumite

5 October 2023 at 9:28PM

Don't know anything about Seafarers tax relief but by the sounds of it, I should move my business onto a raft in the North Sea!

Personally I put roughly 50% of my earnings into Shawbrook easy access (5.11%) & forget about it.

Tax bill is (usually) less than what I've put aside for it which provides a bit of a feel good moment at the end of the year

I save my ISA allowance for S&S ISA/LISA

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