For British expatriates, or those spending a significant period of time
overseas, the issue of residence is an important topic. Simply moving
abroad to avoid UK tax is an outdated concept, and in recent years careful
attention has been focused on those wanting to adopt or maintain non resident status.
The Statutory Residence Test (SRT) was established by the UK’s tax body – HM Revenue and Customs – to provide a framework of who qualified for non UK-resident status. Those awarded this status are only potentially liable to UK tax on sources of UK income and may also qualify for exemption from Capital Gains Tax.
The test uses a framework of questions and tools which have to be considered by those seeking non-resident status every year.
This guide explores how to understand the framework, and use forward planning, to reduce your exposure to UK tax whilst living or working overseas.
By downloading the guide you can understand:
- What is the Statutory Residence Test
- How the test works
- Who it affects
- The importance of record keeping