My view on this situation is as follows:-
1. Still class as resident in 2004-05, however split residency rule will apply.Which means that he will not be taxed on his foreign earnings.
My Queries:-
1. Am I right? If yes, do I still need to show his foreign earnings on his Tax Return without generating a tax liability.
2. Rental Income - Will I have to prepare split rental accounts?
3. Capital Gain? Will he be liable for CGT?
I understand you guys will be pretty busy at the moment, however, I will really appreciate a quick advice please.
Angela