[Part 3 “Non-Resident” in Relation to a Chargeable Transaction: Individuals]
Finance Act 2003 (2003 c 14) | Legislation

[Part 3 “Non-Resident” in Relation to a Chargeable Transaction: Individuals]

[Whether individual “non-resident” in relation to a chargeable transaction

3

For the purposes of this Schedule, an individual is “non-resident” in relation to a chargeable transaction if the individual is not UK resident in relation to the transaction (see paragraphs 4 and 5).

Whether individual “UK resident” in relation to a chargeable transaction: basic rule

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(1)     For the purposes of this Schedule, an individual is “UK resident” in relation to a chargeable transaction if the individual is present in the United Kingdom on at least 183 days during any continuous period of 365 days that falls within the relevant period.

(2)     “The relevant period” means the period that—

(a)     begins with the day 364 days before the effective date of the chargeable transaction, and

(b)     ends with the day 365 days after the effective date of the chargeable transaction.

(3)     This paragraph does not apply in relation to a chargeable transaction to which paragraph 5 applies.

(4)

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