Transcription of Remittances - EY
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Remittances - EY
RemittancesPrivate Client Services1 General rulesThe taxation of individuals in the United Kingdom is determined by their residence and domicile. Domicile is a complex matter of general law; not of tax law. It essentially denotes the country or state one considers his permanent home, the country with which one has the closest personal, family and economic connections, the place to which one would wish to retire even if one temporarily does not live you wish to learn more about domicile, please refer to our materials describing this concept in accordance with the current UK legislation the following individuals are considered tax residents in the UK: Anybody who spends at least 183 days in the UK in a tax year (the period from 6 April of the current year till 5 April of the following year). Some individuals who spend fewer than 183 days in a tax year. This would depend on duration and reason of stay, a pattern of visits in previous years and connections with the UK, including the individual s family location in the UK, availability of UK property, work or social connections, 6 April 2013 the rules will change with the introduction of a Statutory Residency Test (SRT).
2 • The trustees of a settlement where a person in any other category is a beneficiary For example, a remittance will occur in the following situations:
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