Investment Europe: Changes to UK/Swiss agreement - James Badcock

30 Apr 2012

There have been some significant changes to the UK-Swiss agreement. Most importantly once the agreement comes into force, Swiss banks will be obliged to freeze 40% of assets when a UK resident account holder dies. In order to prevent the funds automatically being transferred to the Revenue as tax (such as when there may be an exemption or relief or if the account holder is a non-dom) then it will be necessary to disclose the account or obtain an opinion on domicile status from an adviser.

Partner James Badcock contributed to an article on Investment Europe which explains this in more detail, please click here.

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