Residence and domicile are cornerstones of the UK tax regime. These two fundamentally important elements are decisive in determining the extent of an individuals exposure to the UK tax net, whether it be to Income Tax, Capital Gains Tax and/or Inheritance Tax.
With the prospect of the historic introduction of a statutory definition of Residence for UK Tax purposes with effect from 6 April 2013, now more than ever it is essential to be well advised.
It is also important to remember that Residence status for Guernsey tax purposes is just as relevant and as with the UK tax regime, it is important to be well advised.
If you would like further information on UK and/or Guernsey residence and domicile issues, please contact:
Mark Savage