What Form 8854 Residents 2023-2024

Hi, I'm a new director and at Panu Tax, we help resolve and manage all types of HMRC inquiries, disputes, and investigations. We have seen a significant increase in the number of HMRC inquiries into the residence and domicile status of UK individuals. In my view, this is a result of a number of factors. Partly, it is due to the success HMRC has had in challenging resident status in UK courts over the past few years. Additionally, the introduction of the high-net-worth unit, which includes new inspectors dedicated to wealthy taxpayers, has allowed for more detailed reviews of issues like residency status. Finally, HMRC has concentrated residence and domicile specialists in designated centers. Before April 2013, determining tax residency relied on established tax cases or case law dating back to the 1900s. However, the introduction of the statutory residence test has changed this. Now, establishing someone's resident status for tax purposes requires a detailed review of their life, business connections, and family connections both before and after leaving the UK. If you receive a notice from HMRC to inquire into your residence or domicile status, you should expect an intrusive fact-based and evidence-based investigation. HMRC will thoroughly examine your life before leaving the UK, including your business engagements and family connections. They will also review your activities and evidence after leaving the UK. It is crucial to have strong evidence to support your position, as HMRC is unlikely to simply accept your word. In these types of inquiries, presenting the facts and supporting evidence effectively is essential to achieving the best possible outcome. HMRC usually requests information such as details of your movements before and after departure, including diaries and plane tickets. They also ask for bank and credit card statements from both UK and overseas accounts to analyze your spending patterns...