Business Law and Corporate Law

There are a number of potential tax advantages when using FICs, including Inheritance Tax, but these will vary depending on the size

The UK determines tax residence based on the Statutory Residence Test (SRT). While the rules can be complex, incorporating five Automatic Overseas Tests, four Automatic UK Tests, eight potential split year cases, and the sufficient ties test (with five possible ties), in many cases the outcome ultimately turns on a simple metric: the number of days spent in the UK.

Liquidated damages clauses allow you to define the financial consequences of a breach in advance, helping you manage risk and create commercial certainty in your contracts. This article explains how liquidated damages operate in practice, the key legal considerations under English law and what your business should consider when negotiating and drafting these clauses.