McKie on Statutory Residence
For the first time in the history of UK direct taxation, the Finance Act 2013 introduced, in s.218 and Schedule 45, a comprehensive statutory test of residence.
McKie on Statutory Residence is a comprehensive examination of the new test. The Authors explain its multiple complexities of construction and their practical implications. In doing so they are careful to distinguish the law from HMRC's summaries of the law. The Book includes all of the statutory and non-statutory materials which are relevant to the SRT and the Authors comment in detail on HMRC's guidance and consider the extent to which, where it takes a view of the law advantageous to the taxpayer, it may be relied upon. A number of practical checklists and flowcharts are included.
The complexities of the new test can be explained and appreciated only by reference to realistic examples and the Authors include 84 detailed examples teasing out its many anomalies and traps for the unwary.
- The Scope of the SRT & the Key Concepts
- Scope, Commencement, Transitional Provisions and Time
- 'Days spent'
- 'The Location of work'
- The 'Reference Period'
- 'Significant Breaks'
- Relevant Jobs
- The Main Provisions
- The Basic Rule and the Automatic Residence Test
- The First, Second, Third, Fourth and Fifth Automatic Overseas Tests
- The First, Second, Third and Fourth Automatic UK Test
- The Sufficient Ties Test
- The Family Tie
- The Accommodation Tie
- The Work Tie
- The 90-Day Tie
- The Country Tie
- Split Years
- Split Year Treatment: An introduction
- The General Provisions of the Split Year Rules
- The Split Year Cases: ceasing to be UK resident
- The Split Year Cases: becoming UK resident
- Split Years: The Special Charging Rules for Income
- Split Years: The Special Charging Rules for Capital Gains
- Birth & Death
- Trustee Residence
- Temporary Non-Residence
- Temporary Non-Residence: An Introduction/li>
- Temporary Non-Residence: Income Tax Provisions
- Temporary Non-Residence: Capital Gains Tax Provisions
- Compliance/Record Keeping
About the Author
Sharon and Simon McKie are both partners in McKie & Co (Advisory Services) LLP which won the Tax Consultancy Team Award in the Taxation Awards 2012. They provide tax advice on all tax matters which affect the private client. This includes advising clients with an overseas connection, clients wishing to live abroad, clients based overseas with some UK connection, clients wishing to invest in the UK and non-UK domiciled clients.
They both sit on various professional committees, including committees of the Chartered Institute of Taxation, the Society of Trust and Estate Practitioners, which have been consulted by the Government over a number of years on the design of the new test.