🔥 Journey into Overseas Aspects for Individuals: Navigating Tax & Advanced Tax Terrain! 🔥

Hey fellow tax adventurers! Buckle up for an exploration into uncharted exam territory – the riveting realm of overseas aspects for individuals. 🌍

🔍 Ahead on the Horizon: The spotlight’s on, and it’s shining bright on the horizon of the next Tax and Advanced Tax exam. What’s taking center stage? Overseas aspects for individuals – the ultimate test of tax prowess.

🌆 Cracking the Residency Code: First stop on this tax journey: automatic residency statutory tests. Brace yourselves, because it’s about to get technical.

📅 The Automatics: Quick stats, my friends. Non-resident if you spend less than 16 days (leavers), 46 days (arrivers), or 91 days (visitors) in the UK. UK resident if you hit at least 30 days (UK home), 183 days, or work full-time on UK turf.

🧲 Ties That Bind: When automatic tests don’t cut it, it’s time to weave the ties. Think close family, digs, UK work, days in the past two tax years, and the clincher – more UK time than anywhere else.

💼 Decoding Residency: Roll up your sleeves and do the math! Based on this year’s UK days and those ties, unveil the residency verdict. And don’t fret – there’s a handy table coming your way in the exam.

🛫 Temporary Goodbyes: If a UK resident (4 out of 7 years) takes a temporary leave for under 5 years, they transform into a “temporary non-UK resident.” Brace yourselves, because what happens next is a financial game-changer.

📈 Taxing Gains & Escapes: Ready for some tax acrobatics? Gains from assets owned pre-exit, sold during non-residency, land in the tax year of return. Assets bought post-exit and sold pre-return? They’re making a grand escape from UK CGT.

🏘️ The Property Plot: Hold tight, because it’s property power time. Non-residents, listen up! CGT on UK property gains is non-negotiable, regardless of when the assets hopped into your portfolio. Whether they joined before or after departure, they’re in the tax spotlight.

🏢 Commercial Calculations: Ready for more? Brace for impact. Post-April 2019, commercial property takes the CGT stage. If it was bought pre-April 2019, it’s a sale proceeds minus market value April 2019 equation.

📚 The Study Sage: Want to own this arena? “Tax Condensed” and “Advanced Tax Condensed” are your golden tickets. Master the rules, unlock the skills, and get ready to slay those exam questions. [Links: https://neildacosta.co.uk/tax-condensed/ and https://neildacosta.co.uk/advanced-tax-condensed/]

🚀 Soar to Success: Exams beckon. Rise to the challenge, dive into the depths of tax knowledge, and set sail for success like the rockstar you are!

Cheers to your journey,

[Neil Da Costa]

[Tax Adventurer & Financial Trailblazer] 🚀

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