Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Shares definition

What does Shares mean? In company law practice, a share is a unit of a member’s interest in a company, carrying the rights and obligations attached to its class (for example, voting, dividends and return of capital on a winding up). The Companies Act 2006 simply states that a share is a share in a company’s share capital; the Irish Companies Act 2014 adopts a broadly equivalent approach. Usage and effect are consistent across England & Wales, Scotland, Northern Ireland and Ireland. A company’s share capital comprises the number of shares it allots and issues to investors on or after incorporation. Those...

Leaving the UK: comprehensive tax planning for individuals: SRT, temporary non-residence, CGT/PPR/NRCGT, IHT from 2025, double tax relief, trusts and companies, compliance

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Practice notes

This Practice Note sets out key tax pitfalls and planning opportunities for individuals departing the UK. It is a brief overview, and bespoke advice may be necessary for particular clients, especially where circumstances are complex.

—key points to consider

A tax-efficient exit from the UK demands thorough planning. Points to review include:

the statutory residence test (SRT)
temporary non-residence
disposal of UK residential property
domicile status
double taxation
compliance obligations
UK pensions and investments
residence of trusts and companies where taxpayer is a trustee/director/officer
continuing tax obligations post-departure

These matters can be depicted in the following diagram:

Statutory residence test

For anyone aiming to be non-UK resident after 5 April 2013, the statutory residence test (SRT) determines how many days may be spent in the UK without being treated as UK-resident. For information on the SRT, see the following Practice Notes:

Residence after 5 April 2013
The statutory residence test—key concepts and definitions
The structure of the statutory residence test
Statutory residence test—split year treatment

Temporary non-residence

The Government introduced anti-avoidance provisions for income tax from 6 April 2013 which...

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Web page updated on 21/05/2026

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