The following Private Client guidance note Produced in partnership with Tolley Guidance provides comprehensive and up to date legal information covering:
Residence usually refers to the individual's tax status on a year by year basis, however it may be possible to split the tax year into periods of UK residence and non-residence if the individual arrives in or leaves the UK and meets certain conditions (see the Residence after 5 April 2013 and Residence before 6 April 2013 Practice Notes for further details about the residence rules).
Until 5 April 2013 this practice (and the relevant conditions) were set by extra-statutory concessions and there were separate concessions for income tax and capital gains tax. However, under Paragraph 153(2) of Schedule 45 to the Finance Act 2013 (FA 2013) split year treatment was put on a statutory footing from 6 April 2013. The rules apply for income tax and capital gains tax. For an introduction to the statutory split year treatment provisions see theStatutory residence test—split year treatment Practice Note. This Note comments on the application of split year treatment to component income and gains.
The extra-statutory concessions referred to above have been replicated as closely as possible in the legislation.
It is possible to split the tax year into periods of residence and non-residence if the individual is resident in the UK in that tax year (using the statutory residence test) and his circumstances fall within
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