The Tax Rule Cards are a key feature of the Daysium app, designed to help you navigate complex tax laws with ease. This guide will explain what each element on a Tax Rule Card represents and how it can aid you in managing your tax residency effectively.
What is a Tax Rule Card?
A tax Rule Card in the Daysium app represents a specific tax law that has been programmed into the platform. These cards allow you to track your days in accordance with different tax jurisdictions to ensure compliance.
Components of a Tax Rule Card:
Days-Remaining Counter:
Description: Shows the number of days remaining that you can stay in a specific country or region without becoming a tax resident under the applicable law.
🇬🇧 For the UK's first automatic overseas test for the tax year 2023/24, if the maximum limit of days you can spend is 15, and you've spent 2 days, the card will show 13 days remaining.
Current Day-Limit:
Description: Indicates the total number of days you have spent in the jurisdiction right now and the total limit.
📆 Under the UK SRT (Statutory Residence Test) 183-day rule for the tax year 2024/25, the maximum days you can spend in the UK is 182 to be non-resident. You can see how many days you have spent in UK towards that total.
Explore View:
Functionality: You can view all applicable Rules on your 'Home' screen. When you click the forward arrow of the Rule Card, you navigate to the 'Explore' view. it displays a detailed list of the days and dates you have spent in the relevant jurisdiction, and how each day contributes towards your maximum allowed days.
💡Read our guide on 'How to Explore Individual Day Entries' to learn more.
Here is an example of the 'Explore' view:
🔎 Selecting 'Explore' on a card where you've spent 2 days in the UK will show those specific dates and how they count towards the limit.
Using Tax Rule Cards Effectively:
Tracking Compliance: Regularly review your tax situation and the rules that affect you by consulting with your advisor.
Planning Ahead: Use the information on the cards to plan future travels, making sure you do not exceed the days limit that would alter your tax residency status.
The Daysium Tax Rule Cards provide clear insights into tax laws, making it easier for you to navigate and understand your status at the palm of your hand. With the Rule Cards, you can navigate tax rules with confidence.