Peter Vaines reports on life, tax & quantitative pleasing
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HMRC has published its long-promised guidance on residence which replaces IR20 and all other Revenue guidance on the subject.
This is substantial and follows broadly the same format. There is also a detailed guidance note on domicile and further lengthy explanations of non-resident settlements (as well as the application of s 739 and 740 of the Income and Corporation Taxes Act 1988 (TA 1988) (now s 714 et seq Income Tax Act 2007). To complete the set we have a big document entitled RDRM—the Residence Domicile and Remittances Manual.
I suppose we have been asking for it—if you will pardon the expression. I guess you would call it “quantitative pleasing”. This needs careful analysis and I will return to it in due course.
Attention: Form withdrawal
Immediately before the new guidance was issued, a press release gave details of some other changes on residence and domicile issues. The first of these is that forms DOM1 are being withdrawn. Now
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