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  • RE: 3.2 Second automatic UK test: parents' home

    I want to say "Please re-read the question. Thank you." However, having read "How to win friends & influence people", I now understand that this is not helpful. The question was: * if I have 2 homes in the UK; * if I spend 90 days in one; * if I then move to the other; * then will the day-count continue on my first, given that it is available, and I even visit it frequently during the day, but I live in my second home (spending each midnight there). Thanks :) .
  • RE: QROPS: the three time limit rules

    Thanks for your reply. Let's assume I've just made the withdrawal yesterday. Do you have an answer to (a), (b), and/or (c), assuming no change to current laws?
  • 3.2 Second automatic UK test: parents' home

    I'm visiting the UK to see family. I've been non-UK resident for 9 years. I want to spend as long as possible. For the purposes of this, let's say 180 days. I've been through the SRT, and the tax service checker (which was great): The only potential issue is the 2nd automatic UK test. I intend to stay with my parents for up to 90 days, and then rent somewhere for another 90 days. I left just before the start of the 2024/25 tax year, and my home overseas is being sold, hopefully in May. So that presumably won't count as a overseas home for 2nd UK auto test, as I'll spend less than the permitted time there. When I go back overseas later in 2024, I'll stay with a good friend for a month or more and then buy another house there. I assume as that doesn't overlap the period I have a home in the UK, that's no use. So I assume I don't have an overseas home that I'll have spent the permitted time in. The question: if I spend 90 days at my parents' house, and then spend 90 days somewhere else (perhaps a short-term lease, perhaps my brother's house), does the day count on my parent's house continue up past 91 days? It's still available to me, as there's still the same room there and they wouldn't refuse, but I've moved my stuff and am living somewhere else, possibly even with a lease agreement. I will visit for meals, but won't be staying with them. Thanks for your help.
  • QROPS: the three time limit rules

    It's taken me a while to get to grips with the QROPS time-limit rules. I still have a few outstanding questions though. First the rules: 1. 10 year non-UK residency rule. 10 full UK tax years must have passed, which means you have to remain non-UK resident in the year of withdrawal as well (unless you finesse the split-year rules). 2. 5 year transfer rule. 5 calendar years from transfer. 3. Overseas Transfer Charge (OTC). 5 full UK tax years. Have to remain resident in the same country as the funds. 25% tax **applied to the funds remaining in your fund after your withdrawal**. I.e. if you're over 55 and withdraw the lot, you won't be penalised. Say I was 55 and so could withdraw the full amount under flexi-access. I do that. I'm non-UK resident, and resident where the funds are. So the OTC is irrelevant. Let's say I withdraw in 2024/25, and that only the 10 year non-UK rule is still in play. a. Am I safe from tax &/or penalties? b. Does that change if I return to the UK on 6 April 2025? c. Is a Double Tax Agreement relevant to any of this? Many thanks.