Preemptive planing:
"Since April, 2025, the Foreign Income and Gains (Fig) regime will exempt nearly all non-UK income and gains for the first four years of UK tax residence. This makes the UK a very attractive short-term destination but also allows individuals to test the waters before committing to the UK long term. To qualify for the Fig regime the individual must have been non-UK resident for 10 consecutive tax years prior to arrival."
All my income would be non-UK. Unfortunately, I would not qualify for the above exemption as it's only been 5 years since I was last a UK tax resident.
Questions:
1) Does partial year residency count as a full year? In our last year there, I was only in the UK for four months of the tax year. (Not that it'll make much difference, but it would be good to know.)
2) Would my only option be as it was previously, to rely on the UK/US tax treaty? (As Ireland does not tax overseas income of citizens, they are not in this equation.)
3) If we hold dual US/Eire citizenship, I know we are legally able to live in the UK and are considered as "settled" in some aspect. Is there a limit on the length of time in the UK before any tax status changes if we do ~ not ~ become UK citizens (that is, if we rely solely on Irish citizenship for residence permissions in the UK)?
Thanks.
