UK and Switzerland sign tax treaty

Tue, 15 Nov 2011

On the 6 October the UK and Swiss governments signed a treaty which means that British taxpayers who hold a Swiss bank account or investment portfolio will be liable to pay 19-34% on their Swiss assets at 31 December 2010 to settle past liabilities.

The deal is part of a wider agreement that will see UK taxpayers with Swiss accounts pay a withholding tax of 48% on investment income and 27% on capital gains. These taxes will apply to accounts that are not disclosed to HM Revenue & Customs.

For more detailed information, please download our factsheet via the button below.