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A habitual tax residence that forms the basis of taxation for some taxes in the UK, usually after 3 or more years of tax residence in the UK. An individual can also be ordinarily resident immediately upon arrival in the UK in certain circumstances.
It seems that trusts are viewed currently as the source of all tax-planning evil. A series of legislative changes have made trusts extremely unattractive for wealthy UK clients. This article summarises the current status of trusts in UK tax planning before reviewing the proposed alternative of family partnerships. To what extent can partnerships be used to replicate trust planning?