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What date will you become non-resident?

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On 6 April 2013 the Government introduced a complete new set of rules governing tax residence known as the Statutory Residence Trst (SRT). It is a great improvement on the previous situation where there was hardly any statutory guidance and where HMRC had successfully argued in court AGAINST its own published guidance.

However, once again our Americans friends will wonder why on earth we have to make it so complicated (their test is merely a matter of counting days in the US).

Our test involves:

  • days in the UK ( this year and previous 3 years)
  • working days in the UK
  • where your family are resident
  • where you have a “home”
  • where you have available accommodation
  • how many days you spend in other countries

The good news is that if you work through the rules carefully it is usually possibly to be certain about what you need to do to become or remain non-resident.

The bad news is that the rules are extremely precise and therefore if you are not aware of the changes and don’t jump through certain hoops you may unexpectedly end up resident under the new rules when you would have been non-resident under the old rules.

As ever, seeking guidance in advance is really important.

That’s where we come in…contact me for more details

Margaret

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