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Can any one tell me the meaning or understanding behind this paragraph??
”A non-UK resident company which disposes of a residential property may be liable to UK tax on the gain in a similar way to a non-UK individual. However, the disposal by a company of a residential property is excluded from the P6 (UK) syllabus. ”
Does that mean that disposal by any company of residential property is not examinable??
i think it is saying that if any Co. disposes the Residential Property then the same rules will apply as Non UK Individual (Domicile). Domicile Person definition in short is as below:-
Domicile A person is domiciled in the country in which they have their permanent home.
Domicile of origin:
A person acquires a domicile of origin at birth; this is normally the domicile of their father
Domicile of Dependency:
Until the age of 16 the domicile dependent of father, if father changes domicile the children also changes domicile.
Domicile of Choice:
Individual aged ?16 can change his domicile by his choice but must sever his ties with former domicile country and settle in other country with clear intention permanent residence.
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