It is anticipated that a new residence-based regime will replace the current non-dom rules with effect from 6 April 2025 (depending, of course, on the outcome of the 4 July election and any consultation by the new government). Although the SRT is undoubtedly a much clearer and more objective basis for determining an individual’s liability to UK tax than domicile, and the statutory residence rules are better than the old common law, there are a number of inconsistencies and ambiguities in the legislation that can make it difficult to apply.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
It is anticipated that a new residence-based regime will replace the current non-dom rules with effect from 6 April 2025 (depending, of course, on the outcome of the 4 July election and any consultation by the new government). Although the SRT is undoubtedly a much clearer and more objective basis for determining an individual’s liability to UK tax than domicile, and the statutory residence rules are better than the old common law, there are a number of inconsistencies and ambiguities in the legislation that can make it difficult to apply.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
90a1d87b-c1b5-43c3-a720-cd324830adee.tmb-editorspic.jpg?sfvrsn=1b2d0a7e_1)
