TaxCorporate TaxSwiss-UK tax deal enters “final phase”

Swiss-UK tax deal enters "final phase"

Tax on UK assets held in Swiss banks being finalised

A DEAL to tax British assets being held in Swiss banks is close to being completed.

Rather than reveal the contents of assets being held in Swiss banks, the UK Taxman will instead receive a fixed rate based on the value of British assets held offshore.

A Swiss official told AFP that negotiations had entered the “final phase”.

The imminent deal follows a similar agreement struck between Switzerland and Germany.

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