Navigating the basics of the statutory residence test

As the summer’s international football season came to a close we saw several high-profile transfers with some players making moves abroad. These relocations for work overseas bring not only new opportunities but can also affect an individual’s tax residence status.

Whether the individual is a professional athlete executive or someone who is simply wishing to work in another country full time – perhaps for the first time – they need to be aware of the UK’s statutory residence test (SRT) and the potential tax implications of leaving the UK.

In the current political climate with changes anticipated around the taxation for non-domiciled individuals many individuals are reviewing their UK tax situation. While we await details from the 30 October Budget it is an opportune time to understand the basics of tax residence and how it differs from domicile. Both concepts have distinct impacts...