London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

Change to UK Swiss Tax Agreement

Just a quick update on changes to the UK Swiss Tax Agreement. The UK has exercised its option to increase the rate of withholding tax to be applied in the agreement with Switzerland (which is scheduled to come into effect from 1 January 2013). The rates will increase to between 21% and 41%, previously 19% to 34%.

The increased rates increase the uncertainty over what the liability under the agreement may be. It is indicative of HMRC’s approach following on the heels of the Budget announcement that an effective flat rate inheritance tax charge of 40% will apply to any undeclared Swiss assets after 1 January 2013.



Date: 7th June, 2012
Author: Cathy Corns


Articles from this Author

Contact Business Service Partners

Choose from the drop down menu below to select a Partner to contact.


Mercer & Hole unable to do the double in cricket match against Debenhams Ottaway…

Get to know our new Business Advisory and Outsourcing Director, Tom Dinwiddy in a 'Take 5' interview……



For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn