ARTICLE · 23 NOVEMBER 2011

Private Wealth Briefing - Nov 2011

Bircham Dyson Bell LLP

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In March this year we reported that progress had finally been made towards a statutory residence test (referred to as the SRT) with the Government promising a consultation document.

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Proposed Statutory Test for Individual Residence

In March this year we reported that progress had finally been made towards a statutory residence test (referred to as the SRT) with the Government promising a consultation document. This was issued in June, and the intention is for draft legislation to be published in December with the reforms being implemented from April 2012. The proposed SRT is set out fairly fully in the consultation document, but some aspects require further clarification or contain traps, and we have made representations in response to the consultation document. Although we expect the basic framework to remain broadly the same, the detail of the SRT may well change in the light of the representations that have been made.

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