UK residency is determined based on a combination of factors and the application of the Statutory Residence Test (SRT). Here is an explanation of how it works.
For British expats moving or living abroad, there are many traps and pitfalls in the UK’s complex tax regime to be aware of. Based on my experience, these are the top five tax mistakes, assumptions and statements that are made, and how to avoid making them.
When living overseas, understanding the difference between domicile and residence is critically important. Unfortunately, the two are often confused. The resulting tax implications can be significant and wide-ranging.
The rule used to be that as long as an expat had been non-UK resident for five consecutive tax years, then they would not be taxed on any gains made when they sold UK property. However, as of 6th April 2015, that ceased to be the case. Now, if you are an expat who owns UK property, you will potentially need to pay Capital Gains Tax (CGT). It doesn’t matter how long you have lived outside the UK or even…
