Posted by Nick Day on 25 Aug 2011
Swiss Bank Accounts Hit by Tax Deal
A deal between HMRC and the Swiss authorities was announced on Wednesday following a similar Swiss / German arrangement earlier this month.
Whilst account holder anonymity will be maintained, from 2013 onwards the Swiss authorities will tax UK citizen account holders who have connected assets with undisclosed tax liabilities and forward those taxed sums to HM Treasury.
To read the full story on the Financial Times website please click here – www.ft.com
Domicile and Offshore Taxation Team
To discuss how this move might affect you or your clients and how Tax Innovations can help, please do not hesitate to contact our specialist Domicile and Offshore Taxation team by calling 01962 856 990, emailing customerservice@taxinnovations.com.
See also…
Swiss Assets and Accounts – HMRC Letters
Liechtenstein Disclosure Facility Versus UK-Swiss Tax Agreement
Swiss Tax Deal Shows there is no Substitute for Good Advice
New Criminal Offence for Offshore Tax Evasion
Offshore Tax Evasion: An HMRC Briefing
Update on HMRC Offshore Disclosure Facilities
HMRC Holds HSBC Jersey Bank Accounts List
Failing to Disclose Offshore Accounts
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