Offshore





Cornhill Private Wealth offer a specialist service for offshore oil rig workers.

If you work offshore and are responsible to account for your $ denominated earnings to HMRC at the end of each personal tax year in April, we fully understand your requirements.

With our extensive experience in the contracting and payroll arena, we have perfected the legal and administrative process to maximise your retention as a Sole Trader, with minimal effort.

You want a quick and efficient turnaround for your income, a tax efficient solution, and most importantly the reassurance of knowing that your tax affairs are being handled by experts who are committed to providing a world class service. We are familiar with your unique situation and really do go the extra mile to make using the Cornhill Club service easy for you.

If you work on a rig and are looking for a tax solution, you can be confident that you’re in the right place; You’ve found the service you’ve been looking for.

Our Service Includes:

  • Preparation of Sole Trader Accounts
  • Providing Templates for book keeping and assistance in compiling impeccable records
  • Providing a legal trust solution for tax planning
  • Assisting you in obtaining the best $/£ exchange rate
  • Working around your schedule, meeting and speaking with you when you’re available
  • Typically increasing your retention by around 20% of your gross income (equivalent to a 28% payrise)

Within two weeks of contacting us, you will be able to relax in the knowledge that your tax affairs for 2011/12 are taken care of, using a compliant, tried and tested solution of 20 years use, which is being implemented by committed and professional accounting experts.

Further Benefits:

What’s more, we provide a strategy to ensure that you are able to gain the benefits of tax efficiency for the entire (current) April to April accounting period. This could mean that your payments on account can be reduced immediately, and the money that you’ve set aside can be used for something else. So, if you come on board with Cornhill, you may be in for a very pleasant surprise.

Example Case Study

In October 2011 a new client came to us for assistance with his accounting. A worker in the Oil and Gas industry, his books showed a £94,360 profit after deduction of his non-taxable allowance and expenses, and his tax liability on this profit stood at £30,260.

In addition, his payments on account for the subsequent year were £14,660.

We were able to save him approximately £15,400 relating to the trading profit in tax and accountancy fees, and in addition reduce his payments on account for the subsequent year to £0.

Within 6 months of becoming a client of Cornhill Private Wealth, his net financial position had improved by over £22,830. It goes without saying that he was extremely pleased that he had discovered Cornhill and joined the Cornhill Club.

Next Steps:

Please call us on 0207 947 5200 or use our contact form: