Greetings, Adventurous Accountants!
Welcome to another rollicking tale of finance and follies, where we explore the riveting realm of residency with the UK’s twist. Yep, we’re diving into what it means to be a ‘Resident’ in the land of tea and crumpets. ☕🍰 Hold onto your calculators - it’s going to be a bumpy, tax-ridden ride!
Who’s a Resident in the UK? 🤔
You might think becoming a resident just means dropping your bags and shouting, “Home, sweet home!” Eh, not quite. UK residency is defined in a somewhat more formal manner (goodbye spontaneous shenanigans!). Here’s the 411 on when you qualify:
- 183 Days or More Club: If you crash on the UK’s couch for 183 days or more in one tax year, congrats - you’re in 🎉! The taxman will greet you with open arms.
- Frequent Visitor’s Special: If you’re popping into the UK for 90 days or more per year, for four straight years, the UK’s practically rolling out the residency red carpet for ya! 🚪✈️
- Home Sweet Home Bonus: Got a place in the UK? If you have accommodation available and make at least one visit, guess what? You’re a resident. 🏠 But wait, there’s more! If you’re working full-time abroad or in the UK for a temporary reason, unlucky for the taxman - you may skate under the residency radar.
Global Income - Ye Olde Welcome 😊🗺️
Once you’re marked a resident, pack your bags because global income is coming with you! As an esteemed UK resident, the taxman will happily count your income or capital gains from anywhere in the world.
flowchart TD
A[Resident Status in UK] -->|183 days or more| B[
