Posted by Nick Day on 25 Aug 2011
Swiss Tax Deal Shows there is no Substitute for Good Advice
Following a similar agreement with Lichtenstein in 2009, HMRC’s latest agreement with Switzerland proves that the net is closing on tax evaders. A potential £5 billion could be raised from the latest deal, which sees Swiss banks delivering an average of 35% of account interest generated from 2013 onwards. The anonymity of account-holders remains, but it will have a significant impact on the savings of many who have attempt to evade UK Tax.
In today’s climate, it is simply not feasible that the government would allow such significant sums to stay completely free of tax, and so it is down to the discerning individual to invest in schemes that offer security and tax efficiency for their money.
As many UK Swiss account holders will now realise, it is impossible to completely avoid paying tax. Rather your wealth should be invested in structures that allow for a minimal level of taxation- one that satisfies HMRC but allows you to keep most of what you have earned.
Without advice from tax specialists who have the ability to create unique environments for their clients, the temptation to cut corners will inevitably lead to unsavoury implications in the future. The simple truth is that only with access to detailed knowledge of taxation and a bespoke tax-efficent structure can you be certain that your money is safe.
If you would like any more information regarding the ways in which we could help you and your company, please do not hesitate to contact us on 01962 856 990 or by emailing customerservice@taxinnovations.com.
See also…
Swiss Assets and Accounts – HMRC Letters
Liechtenstein Disclosure Facility Versus UK-Swiss Tax Agreement
Swiss Bank Accounts Hit by Tax Deal
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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