Consultation on residency
Over recent weeks, HMRC have issued numerous consultation documents totalling hundreds of pages.
One of these details how individuals will be judged to be resident or not resident in the UK for tax purposes.
The government proposes to introduce a statutory residence test (SRT) to take into account both the amount of time the individual spends in the UK and the other connections they have with the UK.
There are parts of the test where a distinction will be made between:
The SRT will:
The SRT will have three parts:
The above is part of a consultation process at present. HMRC intend to implement the measures from 6 April 2012.
We will keep you informed of developments but please do contact us if you have any concerns in the meantime.
Internet link: Press release
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