• Skip to main content
  • Skip to footer
SBCA Chartered Accountants

SBCA Chartered Accountants

Chartered Accountants in Preston

Call Us Now 01772 204102

  • Facebook
  • LinkedIn
  • Twitter
  • Accountancy & Tax
  • Business Growth
  • Private Wealth
  • Who We Help
  • About
  • Our Team
  • Client Testimonials
  • Contact
  • Client Login

Swiss bank account holders face new deadline

4th November 2013 by Chris Bond

UK residents, whose Swiss banking arrangements have been disclosed to HMRC under the UK/Swiss tax agreement, have started to receive follow up letters from HMRC.

 Earlier this year account holders were given a choice:

  • To pay over a fixed percentage of their account balance to compensate for tax previously unpaid.
  • Or, to authorise their Swiss Bank to disclose their account details to HMRC. This did not apply to non-UK domiciled individuals.

HMRC have been writing to this second group. Recipients of these letters were required to act quickly. HMRC set a deadline of 1 November 2013 to complete and return one of three certificates. If you have received such a letter, and have not responded, you should take advice quickly. The certificate you should have submitted is one of the following three options:

  1. Certificate A: a declaration that they have no outstanding UK tax liabilities (either in relation to the Swiss accounts or other sources).
  2. Certificate B: a declaration that they will be disclosing any outstanding liabilities using the Liechtenstein Disclosure Facility (LDF), or
  3. Certificate C: a declaration that they will be disclosing their outstanding liabilities outside the LDF.

Failure to respond to the HMRC letter may result in a formal investigation being mounted by HMRC and the risk that criminal proceeding may be taken. Account holders should consider their options carefully and respond without further delay. Completing Certificate B would avail you of certain concessions regarding penalties chargeable, and in particular, immunity from prosecution.

 Readers affected would be wise to take professional advice before responding to HMRC.

Category iconUncategorized

Xero Gold Partners
ICAEW Chartered Accountants
Clear transparent pricing champions

Footer

Get Your Free Copy of Chris’s Book

Reflect Dream Do

Quick Links

  • Get in touch
  • Book Your Discovery Call
  • Client Testimonials
  • Blog
  • Meet Our Amazing Team
  • Work for us
  • Time. Money. Headspace.

Get Your Free Tax Planning Checklist

Business Tax Planning Checklist

Join The Preston Business Community

Preston Business Community

The Latest From Our Blog

Tax Time

Tax Time – Dates for June 2022

23rd May 2022 By Chris Bond

Tax Time

Tax Time – Dates for May 2022

21st April 2022 By Chris Bond

THE UPS AND DOWNS OF SPRING STATEMENT 2022

The ups and downs of spring statement 2022

24th March 2022 By Chris Bond

Read more from the blog

We use telephone tracking numbers to link a user’s call to the marketing channel that they originated from. This is done using cookies, you can choose to decline cookies using your browser settings if you would prefer not to be tracked. We may record calls for training or monitoring purposes.

This firm is not authorised under the Financial Services and Markets Act 2000 but we are able in certain circumstances to offer a limited range of investment services to clients because we are members of the Institute of Chartered Accountants in England and Wales. We can provide these investment services if they are an incidental part of the professional services we have been engaged to provide.

Copyright © 2022 SBCA Chartered Accountants · Privacy Policy · Terms & Conditions · Site Design by Simply Smarter Marketing