The following Personal Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
Anyone returning to the UK after a period of absence should consider whether the temporary non-residence anti-avoidance provisions apply. These rules tax certain income and gains realised during the period of non-residence in the year of return to the UK.
The rules that apply differ depending on whether the individual is treated as having a year of departure of 2013/14 (or later) or a year of departure pre-2013/14. Both sets of rules are considered below.
An individual is a ‘temporary non-resident’ if certain conditions apply. They include a number of terms that are explained further below. The conditions are as follows:
he has ‘sole UK residence’ for a ‘residence period’
following the end of this sole UK residence period (termed ‘period A’ by the legislation), a residence period occurs for which the individual does not have sole UK residence
he had sole UK residence in the UK at any time during at least four of the seven tax years prior to the ‘year of departure’ (whether these were full tax years or split tax years), and
the period of non-residence in the UK is five years or less (this begins with the date on which the individual no longer has sole UK residence and ends on the day before he has sole UK residence again)
FA 2013, Sch 45, paras 110–111, 113; RDRM12610
Each tax year is treated as a ‘residence period’ unless the tax year is split, in which case there are two residence periods (one period for the part of the year in which the individual is UK resident and one period in which the individual is not UK resident).
For more on the circumstances under which the tax year can be split, see the Residence ― issues on leaving the UK (2013/14 onwards) and Residence ― issues on coming to the UK (2013/14 onwards) guidance notes.
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.
Access this article and thousands of others like it free for 7 days with a trial of TolleyGuidance.
Read full article
Already a subscriber? Login
IntroductionUK tax must be withheld on UK payments including:•interest•royalties•rental incomeWithholding tax may be reduced under double tax treaties (DTT) or European directives, both of which may be subject to making a formal claim.This guidance note outlines the rules for UK withholding tax, and
Maintenance payments are payments made by a taxpayer to their former or separated spouse for the maintenance of that former spouse or their children. To obtain any tax relief for maintenance payments, one of the couple must have been born before 5 April 1935 and the payments must be made by virtue
This guidance note considers the capital gains tax implications where shares are sold in exchange for new shares.The consideration paid by a purchasing company to the shareholder(s) for their shares in a target company could be in the form of either:•new shares in the vendor in exchange for shares
Employee benefit trusts (EBTs) are commonly used to support employees’ share schemes and to provide other benefits to employees in the form of pensions and bonuses.Their use has been significantly affected by the introduction of the disguised remuneration rules. Although the statutory exclusions
To view our latest tax guidance content, sign in to Tolley Guidance or register for a free trial.