switzerlandUPDATE: Please see Eaves and Co’s Swiss Treaty Brochure for full details of the treaty

A landmark taxation agreement between the UK and Switzerland will come into force on 1 January 2013.

It is important that individuals with undeclared assets in Switzerland give early consideration to the implications of the agreement to ensure that the best possible action is taken.

If you would like more information on the UK Swiss Tax Treaty and how Eaves & Co can help please click here.

UPDATE: Please see Eaves and Co’s Swiss Treaty Brochure for full details of the treaty
As the timeframe moves closer for the UK Swiss Treaty to come into operation (1 January 2013) there have been some further changes to its terms.
On 18 April 2012 the UK and Switzerland exchanged letters with the outcome being that the minimum rate payable on capital through the treaty has been raised to 21%.  The upper rate also being raised and to 41%.

switzerland
Switzerland (Photo credit: siette)

Clearly this makes the UK Swiss Treaty even less palatable, with some commentators saying that only people wishing to remain anonymous should suffer the levy.  However, an initial professional consultation for anybody considering the matter remains a necessity in considering the alternative routes to redress of their tax position.