{"id":13627,"date":"2020-04-02T13:23:43","date_gmt":"2020-04-02T11:23:43","guid":{"rendered":"https:\/\/seoblog.taxback.com\/?p=13627"},"modified":"2020-04-02T13:36:08","modified_gmt":"2020-04-02T11:36:08","slug":"how-to-claim-fisher-tax-credit-and-seafarers-allowance","status":"publish","type":"post","link":"https:\/\/www.taxback.com\/blog\/how-to-claim-fisher-tax-credit-and-seafarers-allowance\/","title":{"rendered":"How to claim the Fisher Tax Credit and Seafarers\u2019 Allowance in Ireland"},"content":{"rendered":"

Did you know that Ireland’s seafood industry is worth roughly \u20ac1.15 billion to the economy?<\/p>\n

It’s true! More than 14,000 men and women are employed in the sector, most of whom work and live in rural coastal communities throughout Ireland.<\/p>\n

Many people who work at sea are entitled to claim either the Fisher Tax Credit or Seafarers’ Allowance and yet it often goes unclaimed.<\/p>\n

The main reason for this is likely a lack of awareness that tax reliefs are available.<\/p>\n

A belief that the process of claiming their tax entitlements will be too complicated and ‘not worth it’<\/p>\n

But when you consider that, by claiming these tax reliefs, you may be able to reduce your tax bill by thousands of euros.<\/p>\n

In this guide, you will find everything you need to know about the Fisher Tax Credit and Seafarer’s Allowance and how to claim them.<\/p>\n\n

What is the difference between the Fisher Tax Credit and Seafarer’s Allowance?<\/h2>\n

It is important not to get mixed up between the Fisher Tax Credit and Seafarers’ Allowance.<\/p>\n

The Fisher Tax Credit is available to many workers in Ireland’s fishing sector.<\/p>\n

Meanwhile, if you work at sea, but are not part of Ireland’s fishing sector, you may be able to claim the Seafarers’ Allowance. For example, this allowance is commonly claimed by Ferry and Cargo ship workers.<\/p>\n

It’s important to note that you cannot claim both the Seafarers’ Allowance and the Fisher Tax Credit in the same year of assessment.<\/p>\n

Fisher Tax Credit – All You Need To Know<\/h2>\n

How much is the Fisher Tax credit worth?<\/h3>\n

If you are entitled to the Fisher Tax Credit\u00a0you will be due \u20ac1,270 per year<\/b>. Like all tax credits, there are several qualifying conditions you must meet before you can claim.<\/p>\n

In short, if you are eligible for this credit, you can earn up to \u20ac22,850 before paying income tax.<\/p>\n

How do I qualify for the Fisher Tax credit?<\/h3>\n

To qualify, you must spend at least 80 days fishing at sea<\/b>. A day is considered a minimum of 8 hours at sea within 24 hours. These 8 hours can be accumulated over several fishing trips in 24 hours.<\/p>\n

The vessel used for fishing must be licenced by an EU state\u00a0<\/b>and registered at the EU Community Fishing Fleets. Part-time fishers can also qualify for the credit as long as the above criteria are satisfied.<\/p>\n

Who is not eligible for this credit?<\/h3>\n

The type of fishing covered under the tax credit includes any kind of fish found in the sea. It does not include salmon, freshwater eels or aquaculture animals. And, if you are fishing solely for scientific, research or training purposes, you will not qualify.<\/p>\n

Get Your Irish Tax Refund Now!<\/a><\/p>\n

Seafarers’ Allowance – Useful Factors To Consider<\/h2>\n

How much is the Seafarers’ Allowance worth?<\/h3>\n

If you are eligible for Seafarers’ Allowance\u00a0you will be entitled to claim \u20ac6,350<\/b>\u00a0at your highest rate of tax (20% or 40%) against your Seafarer income. You can’t use the allowance against any other income.<\/p>\n

\"How<\/p>\n

How do I qualify for the Seafarers’ Allowance?<\/h3>\n

You may be entitled to the Seafarers’ Allowance if you are working in the marine industry such as on a:<\/p>\n