The UK has the “statutory residence test” in place to determine the tax residence status for individuals and this determines what is taxable and reportable to HMRC for each tax year.
If you are a UK tax resident you will need to prepare a tax return to report your worldwide income and pay tax on this. If your permanent home is outside of the UK, you were not born in the UK and depending on the amount of time you have spent here, you may be classed as a non-domiciled individual.
If you are a non-domiciled individual, you can elect to pay tax on your worldwide income or the remittance basis of taxation where you must declare your UK income and any foreign income or gains that you have brought into the country.
The statutory residence test has many different components and our qualified tax advisers are happy to discuss your individual circumstances with you.