Foreign Aspects

Question 1

Temporary Non-Resident Rules

How Long is a Period of Temporary Non-UK Residency?

Answer 1

Fewer Than 5 Years.

Question 2

Temporary Non-Resident Rules

Prior to Departure, The Individual Must Have Been:

Answer 2

Resident in The UK For at Least 4 of The 7 Tax Years.

Question 3

Temporary Non-Resident Rules

What Are The Implications of Being Caught by The TNR Rules?

Answer 3

Gains in The Intervening Period Are Deemed to Arise in The Year of Return.

(Anti-Avoidance Provision)

Excludes Assets Acquired in The Intervening Period.

Question 4

NRCG Disposals

What Were The NRCG Rules Introduced For?

Answer 4

Gains Made on UK Residential Properties After 6 April 2015.

Question 5

NRCG Disposals

The ‘Default’ Method Calculates a Gain as The Difference Between:

Answer 5

• The Sale Proceeds; and
• The Properties Value at 5 April 2015.

Question 6

NRCG Disposals

What is The ‘Time-Apportionment’ Method of Calculation?

Answer 6

The Element of The Gain Arising After 5 April 2015 is Chargeable.

Question 7

Situs

What is The ‘Situs’ Rule?

Answer 7

Assets Are Generally Situated Where They Are Physically Located.