The responses to the consultation on a statutory residence test and the draft legislation have been published (see www. lexisurl.com/OyMBw). It is pleasing that the government has listened to the responses to its consultation and made some positive changes and is continuing to consult on other points. Fears that substantial changes would be made to the initial proposals – in particular an increase in the number of potential ties to the UK – have proved unfounded. The abolition of the unnecessary complication of ordinary residence is welcome but the introduction of over nine pages of targeted anti-avoidance rules is disappointing. There are no major changes to the key feature – the need to consider days spent in the UK combined with an individual’s other ties to the UK to determine tax residence. Although draft legislation for Finance Bill 2013 has...
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The responses to the consultation on a statutory residence test and the draft legislation have been published (see www. lexisurl.com/OyMBw). It is pleasing that the government has listened to the responses to its consultation and made some positive changes and is continuing to consult on other points. Fears that substantial changes would be made to the initial proposals – in particular an increase in the number of potential ties to the UK – have proved unfounded. The abolition of the unnecessary complication of ordinary residence is welcome but the introduction of over nine pages of targeted anti-avoidance rules is disappointing. There are no major changes to the key feature – the need to consider days spent in the UK combined with an individual’s other ties to the UK to determine tax residence. Although draft legislation for Finance Bill 2013 has...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
