FREE DOWNLOAD - Tax Residence In 2012 & Beyond
This guide looks at when you will be UK resident in 2012/2013 and in later years.
We explain the concept of 'non residence' which has a massive impact on the amount of income tax and capital gains tax you pay.
We list the steps you need to take to convince HMRC that you are non-resident and look at some of the obstacles and pitfalls to becoming non resident'.
A substantial proportion of the guide looks at the different rules in establishing non residence before April 2013 and after this date.
As from April 2013 a new Statutory Residence Test will apply. This provides a comprehensive method of clearly establishing when an individual will (and won't) be UK resident.
Before April 2013 determining your residence status will mainly depend on applying HMRC practice and various court decisions to your own circumstances. The position after April 2013 should therefore be much more clear cut.
Nevertheless, the Statutory Residence rules are not necessarily straightforward to apply. In this guide we provide some detailed guidance as to how the new rules will work (based on the proposals to date).
How To Download The Guide
If you're a WPR member this guide is FREE to download. You can download it from:
Book Download: Tax Residence In 2012 & Beyond
About the Author
The Author of this article/answer is our site Editor, Lee Hadnum. Lee is a rarity among tax advisers having both legal and chartered accountant qualifications. After qualifying a prize winner in the Institute of Chartered Accountants exams, he also went on to become a chartered tax adviser (CTA).He worked in Ernst & Youngs Entrepreneurial Services department for a number of years before setting up his own tax planning practice. He is now a full time tax author.
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Disclaimer
=============================================================i) Please note that the articles/answers contain general guidance only and do not constitute accountancy, tax, investment or other professional advice.
ii) The contents of this article/answer are for information only and are intended to assist readers in identify any tax planning opportunities that may be available to them. The information contained in this answer is not intended to be a substitute for taking proper taxation advice and should not be relied upon in this way. Always consult a qualified accountant or taxation adviser. Your situation will then be looked at individually and specific advice relevant to your circumstances can be given. The Expert does not accept responsibility for any loss arising as a result of reliance on any information contained in this answer.
These Notes (and Disclaimer) do not affect your statutory rights in the United Kingdom.