Fully updated and revised, this second edition contains greater detailed analysis of the Statutory Residence Test (SRT) contained in Finance Act 2013, and includes brand new chapters on:
- the newly introduced non-resident capital gains tax charge contained in Finance Act 2015 and its interaction with the SRT legislation,
- a detailed analysis of the important private international law concept of domicile and its significance for UK tax purposes, and
- HMRC practice and case law, which applied prior to 6 April 2013, which are still of relevance today.
The book also contains a “Postscript” commenting upon the “deemed domicile” proposals contained in the Summer Budget of July 2015 to be effective from April 2017.
Residence and domicile are at the heart of any tax planning and, in particular, where there is an international dimension. This book will therefore be an invaluable reference tool for tax practitioners involved in providing detailed tax advice to employees leaving and/or arriving in the UK to work; individuals emigrating or immigrating to the UK; successful entrepreneurs with expensive homes in the UK; foreign investors with UK holiday homes; and any other category of individual who simply wishes to visit the UK without accidentally acquiring UK residence or domicile.
“An excellent handbook on the SRT that can be used in practical situations to determine if an individual is liable to UK tax in a specific year. It is in addition a good guide to the concept of domicile in the UK.”
ICAEW Tax Faculty