On Love Island, UK holidays and accidental residency
Individuals who travel to the UK for a substantial time over the summer (or indeed at other less temperate times of year) may unwittingly become UK resident for tax purposes if they are not mindful of the day counts and other rules that apply under the Statutory Residence Test.
The test, introduced with effect from 6 April 2013, is complex and specialist advice should be taken as to its effect, To read more, go to Spear's Wealth Management magazine.
Related in brief posts
After the Brexit Referendum, we published a note identifying areas of interest for private clients. We revisit those topics and consider the possible implications in a deal/no-deal scenario.
The Requirement to Correct (RTC) provisions require taxpayers with outstanding UK tax liabilities existing at 5 April 2017 relating to offshore interests, to come forward to correct their filing and tax position before 30 September 2018.
The recent immigration furore shows the imperative need to keep absolutely everything - especially documentation related to residency.