The Statutory Residence Test - Considerations for Private Client Professionals

Introduction

This webinar will explain what private client professionals should be considering when dealing with the Statutory Residence Test.

It will concentrate on the concept and importance of tax residency.

What You Will Learn

This webinar will cover the following:

• Concepts of Tax Residency:
• Why is this important?
• Arising and remittance basis
• Position prior to the introduction of the Statutory Residence Test:
• Case law
• Why legislation was required
• Statutory Residence Test:
• Basic rule
• Automatic residence and non-residence tests
• Sufficient Ties Test:
• Review of each tie
• Consideration in the difference in treatment of new arrivals and people ceasing to be UK tax resident
• What is a day?
• Split Year Treatment:
• What is this?
• When may this be useful?
• Impact of COVID-19 on tax residency
• Dual tax residency

This webinar was recorded on 14th July 2022