UK/Switzerland tax co-operation agreement | Practical Law
This note provides an overview of the UK/Switzerland tax co-operation agreement to tackle tax evasion by UK taxpayers holding funds in Swiss bank accounts, as it was when in force from 1 January 2013 to 31 December 2016. The note discusses the anonymous one-off payment to settle past tax liabilities, the withholding tax on income and capital gains and the one-off withholding tax on death. It also looks at the requirements for disclosure as an alternative to these deductions, further protection in the agreement for HMRC (such as information requests) and the options that were available for UK residents with Swiss bank accounts.