Details

  • Type: Publication series
  • Date: 3/28/2013

United Kingdom *Special Report* – More Changes to Statutory Residence Test in Finance Bill 2013 

KPMG LLP in the United Kingdom, in this special report, examines the measures concerning the Statutory Residence Test (SRT) in the Finance Bill 2013 published today. The SRT will apply for the purposes of income tax, capital gains tax, and inheritance tax with effect from April 6, 2013. The level of detail in the legislation adds to the complexity of the SRT, but it has been designed to provide certainty wherever possible. A number of the individual tests appear similar to common practices, but they differ in the detail. Globally-mobile employees and their employers will need to be aware of all the changes and understand how they will be impacted. Particular care will be needed with the concept of split years and when qualifying for non-residence on the basis of meeting the “overseas work criteria.”
 

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