Caged,
I'd strongly suggest that you get some advice from a reputable firm of UK Tax advisors before you go ahead. The changes with effect from last year and the Statutory Residence Tests now being applied by HMRC to determine whether you are Resident or Non Resident for tax purposes would justify the advice, especially if you intend to commute, with your wife/kids resident in a house held in your name in UK, and which would be available for your occupation on UK visits.
If you'd like to PM me, I can send you a copy of the relevant HMRC document, but as with all Government docs, its open to interpretation and my/your interpretation is likely to differ markedly (and potentially very expensively) from that of HMRC.
Fry and Co have a good reputation for Tax advice; just for the record, I have no connection to Fry's whatsoever. Getting professional advice might just save you a small fortune.
Apologies if I'm teaching Granny to suck eggs!
7B