One area I expect will feature in tomorrow’s Advanced Tax exam is overseas aspects for individuals.

You need to learn the automatic residency statutory tests

Automatically non resident if in the UK for less than 16 days (leavers), less than 46 days (arrivers) or less than 91 days (visitors).

Automatically UK resident if in the UK for at least 30 days (UK home), at least 183 days or work full time in the UK.

If the automatic tests do not apply then look at how many ties the individual has to the UK (close family, accommodation, work, days in the previous 2 tax years and country tie) and based on the number of days spent in the UK in the current tax year decide if the client is UK resident.

If a UK resident (4 out of the last 7 years) leaves the UK for less than 5 years, the individual is called a temporary non-UK resident.

As a result, any gains on assets owned before leaving and sold while non resident will be taxed in the tax year of return to the UK.

Any assets bought after leaving the UK and sold before returning to the UK will escape UK CGT.

The best way to prepare for the exam is to learn my Condensed Notes and then practice exam questions.

If you are planning on doing Taxation or Advanced Tax in September 2022, I recommend you purchase Tax Condensed or Advanced Tax Condensed which will allow you to learn the technical rules If you then practice the key questions I recommend, you too will be ready for anything the examiner throws at you.

 These books will really make the difference. You can purchase them using the links below: