What is The Statutory Residence Test?
The Statutory Residence Test (SRT) was introduced from 6 April 2013, to allow individuals (such as UK expats) to determine their UK tax residence status.
Where an individual is a UK tax resident, they are subject to UK tax on their worldwide income and gains. Where they are non-UK tax resident, then broadly, they will only be subject to UK income tax on their UK source income, such as income from UK property, interest from UK bank accounts, dividends from UK companies etc.
Specific rules apply for capital gains tax, and in particular on disposals of UK land/property.
The Statutory Residence Test – Necessary Steps
The SRT is made up of 3 sets of tests, which are considered in order. The...
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