Resident for tax purposes?
Statutory definition of tax residence
The government is intending to introduce a statutory residence test for individuals. The intention is to introduce some clarity to an area that is complicated and unclear. Proposals include an interactive online tool to enable individuals to self-assess their residence status.
One of the drivers for reform is the government’s wish to encourage high net worth individuals to invest in the UK against competition from other jurisdictions. The belief is that greater certainty will give that encouragement.
The proposed test will be in three parts:
-Part A conclusive factors establishing non-residence;
-Part B conclusive factors establishing residence;
-Part C other factors relevant in cases not falling within A or B and including day counting rules and other connection factors.
For further details please see the consultation : “Statutory definition of tax residence”