Share fishermen
If you’re crew paid a share of the catch rather than a wage, HMRC treats you as self-employed. That means a Self Assessment tax return every year, with your share and your own expenses on it. We pull the figures together from your settlement sheets, claim the costs you’re entitled to, and make sure your National Insurance is right. Share fishermen have their own special Class 2 rules, and getting them wrong can affect your State Pension and benefits.
Skippers and boat owners
Running a boat is a business with big numbers going through it. We prepare your accounts, work out each crew member’s share where you need it, and claim capital allowances on the vessel, engine, electronics and gear. Boat owners also get a notice from HMRC each year asking for a return of the shares paid to crew, and we can handle that for you too.
Making Tax Digital
From April 2026, self-employed people with income over £50,000 have to keep digital records and send HMRC quarterly updates. That threshold drops to £30,000 from April 2027. It’s based on your income before costs, so plenty of boats will be caught. We’ll set you up in Xero and do the updates for you.
What’s included
- Self Assessment tax returns for crew and owners
- Accounts for boat owners and fishing partnerships
- Capital allowances on boats, engines and gear
- National Insurance checked, including share fishermen’s Class 2
- Crew share returns for owners
- Making Tax Digital set-up and quarterly updates
Common questions
Do share fishermen pay National Insurance?
Yes. Share fishermen have a special Class 2 rate, and may also pay Class 4 on their profits. Both are usually worked out and paid through your Self Assessment return, and we check they’re right.
Can I claim for my gear and oilskins?
Usually, yes. Protective clothing, gear and other costs you pay yourself for the job can normally be claimed. We go through what you’ve spent each year.
Does Making Tax Digital apply to fishermen?
If you’re self-employed and your income before costs is over £50,000, it applies from April 2026. From April 2027 the limit is £30,000. We’ll tell you if and when you’re caught.