close

Practice

Business

Tax

Technology

Regulation

Resources

Rankings

Advertise With US

    Information

    UK deal set to follow German-Swiss agreement

    UK deal set to follow German-Swiss agreement

    Germany and Switzerland to announce withholding tax in advance of similar UK-Swiss deal

    Author Date published August 10, 2011 Categories

    GERMANY and Switzerland are set to announce a deal over untaxed assets today in advance of a similar imminent deal between UK and Switzerland.

    The deal is likely to initially involve Swiss banks paying 2bn francs (£1.7bn) to the German government to regularise the assets of German clients, who have an estimated 150bn francs (£127bn) in Swiss accounts.

    Following this, the LSE reports that the two sides are expected to implement a withholding tax of 26% of future interest income.

    A similar withholding tax deal between the UK and Switzerland is expected within the next week or so. It was originally announced towards the end of last year and HM Revenue & Customs permanent secretary for tax Dave Harnett said it would be announced in April or May of this year. However, reports have suggested that the deal will be announced this month.

    Share

    Subscribe to get your daily business insights

    More about:

    Get the latest analysis and reports delivered to your inbox daily

    Resources & Whitepapers

    Resources & Whitepapers

    The importance of UX in accounts payable: Often overlooked, always essential
    AP

    The importance of UX in accounts payable: Often overlooked, always essentia...

    2m Kloo

    The importance of UX in accounts payable: Often ov...

    Embracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...

    View article
    The power of customisation in accounting systems
    Accounting Software

    The power of customisation in accounting systems

    2m Kloo

    The power of customisation in accounting systems

    Organisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...

    View article
    Turn Accounts Payable into a value-engine
    Accounting Firms

    Turn Accounts Payable into a value-engine

    3y Accountancy Age

    Turn Accounts Payable into a value-engine

    In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

    View resource
    8 Key metrics to measure to optimise accounts payable efficiency
    AP

    8 Key metrics to measure to optimise accounts payable efficiency

    2m Kloo

    8 Key metrics to measure to optimise accounts paya...

    Discover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...

    View article

    Related Articles

    Self Assessment threshold change: Solution or problem?
    HMRC

    Self Assessment threshold change: Solution or problem?

    9m David Wright , ATT technical officer

    Self Assessment threshold change: Solution or prob...

    ATT technical officer, David Wright, considers the implications of HMRC’s decision to remove employees with income between £100,000 and £150,000 from ...

    View article
    Accounting firms could “lose credibility” from MSC crackdown
    Business

    Accounting firms could “lose credibility” from MSC crackdown

    2y Sam Alberti

    Accounting firms could “lose credibility” from MSC...

    Accountants with contractor clients must take practical steps in an attempt to fly under HMRC’s radar Read More...

    View article
    HMRC seeks views on changes to self-assessment registration
    Personal Tax

    HMRC seeks views on changes to self-assessment registration

    2y Helen Thornley

    HMRC seeks views on changes to self-assessment reg...

    Are taxpayers aware of their self-assessment obligations before they come to you? In a consultation due to close shortly, HMRC is looking at whether t...

    View article
    HMRC considering shorter registration deadlines for sole traders and landlords
    Personal Tax

    HMRC considering shorter registration deadlines for sole traders and landlo...

    2y Emma Rawson

    HMRC considering shorter registration deadlines fo...

    ATT technical officer, Emma Rawson, takes a look at HMRC’s new call for evidence which explores potential reforms to how and when individuals with pro...

    View article
    Workers face ‘grey areas’ when filing for WFH tax relief
    HMRC

    Workers face ‘grey areas’ when filing for WFH tax relief

    4y Jeremy Chan

    Workers face ‘grey areas’ when filing for WFH tax ...

    Tax managers warn of complexities in HMRC’s WFH tax allowances Read More...

    View article
    HMRC’s yield from investigations into wealthy individuals hits record
    Personal Tax

    HMRC’s yield from investigations into wealthy individuals hits record

    5y Leanna Reeves

    HMRC’s yield from investigations into wealthy indi...

    HMRC has experienced an increase in its revenue due to further investigations in the year 2018/19. Read More...

    View article
    HMRC takes record £860m in penalties
    Personal Tax

    HMRC takes record £860m in penalties

    5y Tom Lemmon

    HMRC takes record £860m in penalties

    Last year, HMRC imposed a record £860m in penalties on individual taxpayers, up 24% from £694m in 2017/18, according to accounting group UHY Hacker Yo...

    View article
    LITRG urges government to consider tax changes in disability work plan
    Administration

    LITRG urges government to consider tax changes in disability work plan

    6y Accountancy Age

    LITRG urges government to consider tax changes in ...

    The Low Income Tax Reform Group believes the government should have included tax initiatives in its plans for disabled people and employment Read More...

    View article