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 –

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


See also…

Swiss Assets and Accounts – HMRC Letters

Liechtenstein Disclosure Facility Versus UK-Swiss Tax Agreement

UK: Swiss Tax Changes

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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