Can 'living' on a cruise ship be practical.

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happywriter

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Apr 25, 2009
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I have been told of a situation where a couple have sold their home and are now living - full time - on a cruise ship. They have the benefit of excellent entertainment, food, full service, etc. plus their travel and holidays.
They consider that their result suits them, and is actually a cheaper way to live than having a home and paying for the extras of living.
Given the various tax advantages that may be possible from this type of life-style, I would like some other viewpoints on the possibility.
 
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TracyG

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Apr 26, 2009
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I have never heard of anybody living on a cruise ship, sounds like an option for those who are coming up to retirement. I can't really understand how it can be a cheaper way to live though. I would imagine the cost of living on a cruise ship to be higher than the cost of running a home.

I do know a couple who sold up their home to live on a luxury caravan park overlooking the sea. They have the benefit of the entertainment, though they do say that the entertainment is exactly the same from one week to the next throughout the season. The cost of running a caravan is far less than that of running a house (and of purchasing). I believe that you can not live on a caravan park all year round, though if the caravan park closes for a period at the end of the season, then that is allowed. This particular caravan park closes for 2 weeks each year, at which time my friends take their annual holiday abroad.

I think this type of lifestyle is appealing for those coming up to retirement age. I can't imagine it being very practical for working people or those with families.
 
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happywriter

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Apr 25, 2009
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I think that the people in question were quite well off, their lifestyle did include overseas trips, hotels, etc. Thus their normal costs were high.
On the cruise ship I heard about, many of their costs were included - such as meals, drinks, electricity, services, etc.
By eliminating many of the normal costs of living out of their budget, they have the alternative of a different lifestyle.
Caravan living is different - however the comparable idea is there. There are different ways of living which suit different people.
 
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Rachelle

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Apr 25, 2009
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I guess if you're running your company from the ship that would make sense. Wouldn't that exempt you from all tax? Actually I'm not sure on the rules, is it so many nautical miles off the coast that you're exempt? If anyone can tell me what the rules are please do. Not that I think I will be following suit. I can't think of anything worse although do understand, sort of, how tempting it might be for those of retirement age.
 
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happywriter

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Apr 25, 2009
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The rules change from country to country, depending upon what one's nationality is.
For UK citizens the rules are:
- your absence and employment from the UK covers a complete tax year (i.e. 6 April to 5 April), and
- you spend less than 183 days in the UK during the tax year, and
- your visits to the UK do not average 91 days or more a tax year over a maximum of 4 years.
In principal UK earnings would attract UK tax, e.g. if property were rented out, interest, etc.
 
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