Normally, if you are resident in the UK for any part of a tax year you will be taxed as a UK resident for the whole of the tax year. However, there are special rules which may apply to you if you either leave the UK to live or work abroad, or come from abroad to live or work in the UK. These special rules split the tax year into a UK part, when you are taxed as a UK resident, and an overseas part, when you are taxes as a non-UK resident.
Before 6 April 2013, HMRC operated these special rules as a concession known as Extra Statutory Concession A11. After 5 April 2013, these special rules are contained in law, under the Statutory Residence Test ('SRT'). Once you have determined using the new SRT test that you are non resident for part of the year you still need to find out what is the exact date where the status changes. As with the residence test, treatment is different whether you are a leaver or an arriver. Here are the rules for finding out that date:
Showing posts with label Statutory Residence Test. Show all posts
Showing posts with label Statutory Residence Test. Show all posts
Wednesday, November 13, 2013
Thursday, November 29, 2012
Buying your way into the UK
Property prices in London have challenged economic conditions in the past decade. There is a very simple reason for that. There are just too many rich foreigners coming to the UK. It's actually quite easy to explain. Not only the is the tax system very attractive for them thanks to the non-domicile status but it's quite easy to obtain a Visa if you are ready to bring in enough money into the British Economy. In many jurisdictions, obtaining residence visas can be fraught with red tape, delays, quota restrictions and other hidden difficulties, often resulting in refusals of such applications. Not so in the UK.
Here are the options:
Here are the options:
The Tier 1 Entrepreneur Visa
The basic requirements for the initial visa are that the individual needs to show evidence of having £200,000 available to invest in the UK and needs to be able to speak English.Monday, November 19, 2012
The new Statutory Residency Test (SRT)

If you are not UK resident, you will become UK resident if either applies:
- You are physically present for 183 days or more in a tax year
- You have visited the UK for an average of 91 days per annum over 4 consecutive tax years (you will then be regarded as resident from the beginning of the 5th year)
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