Switzerland

Characteristics of the Tax Agreement with the United Kingdom 

The Tax Agreements between Switzerland and the United Kingdom as well as Austria are very similar. The differences can be explained by the different tax systems and are related in particular to the treatment of non-UK domiciled individuals and the tax rates for future income.
Some of these differences have a significant impact on the banks and the bank clients. KPMG has prepared a factsheet which outlines the characteristics of the UK Tax Agreement.

Calculation of the one-off payment for the regularisation of the past

The one-off payment for the regularisation of the past is calculated by means of a complex formula. 

How to calculate the taxes

For the calculation of the one-off payment, not only the account balances on 31 December 2002 (or if opened later, the account balance at the end of the year in which the account was opened), 31 December 2010 and 31 December 2012 are relevant but also the inflows and outflows and the increases in value in the years 2011 and 2012.

 

The one-off payment for the regularisation of the past can easily be calculated with our tool.

KPMG can support you

KPMG can assist the bank with respect to the implementation of the UK Agreement as well as the bank clients in a variety of questions that may arise in the context of the Agreement in Switzerland and the United Kingdom.

Jürg Birri

Jürg Birri

Partner, Head of Legal German Switzerland

+41 58 249 35 48

Philipp Zünd

Philipp Zünd

Manager, Attorney-at-Law

+41 58 249 42 31

Your tax burden?

Your tax burden?
Calculate the one-off payment for the regularization of the past with the our online-tool.

UK Tax Agreement

Teaser Image Tax Agreement
The factsheet "UK Tax Agreement" outlines the characteristics of the tax agreement between Switzerland and the United Kingdom.