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Residence and Domicile Update

 
Lynnette Bober National Tax Consultant at Smith & Williamson provides a post-Finance-Bill update on the changes to residence and domicile
 
The residence and domicile review began in 2002 and it is clear that the Chancellor is determined that the Finance Act 2008 should mark the close of the review (we are told that after the Finance Act 2008 amendments to the rules passed in this Parliament or the next will be restricted to technical amendments to ensure that the legislation works as intended).
 
The results of the review of residence must be considered separately from those of the domicile review. It was hoped that a comprehensive statutory residence test which would provide taxpayers with certainty whilst being internationally competitive would result from the review of residence. It would...
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