Archive for October, 2015

Proving that you are not a UK resident for tax purposes can be a tricky business and many people have mistakenly believed that all they need to do is to keep the number of days they spend in Britain down to fewer than 91 in any one tax year. The falsity of that assumption was revealed by one case in which a businessman received a £5.5 million Income Tax demand despite insisting that he had moved to Monaco and spent all but 65 days of the relevant tax year outside the UK. The businessman, aged in his sixties, had received a £24.59 million dividend on the sale of his family property business. He claimed to have made his home in Monaco, but HM Revenue and Customs (HMRC) insisted that he had not broken his business, social and family links with Britain. HMRC ... Read more