Hi,
I'm considering a move back to the UK after having lived and worked for several years in Switzerland. My question concerns the implications surrounding the recent UK/Swiss tax treaty for those of us who have savings accounts in Switzerland. Will it just be a case of declaring any interest I receive on my Swiss account each year to HMRC, once I'm back in the UK? Or will I have to provide some form of evidence that all the money was earned and taxed in Switzerland else they'll take a huge chunk of the capital? We're talking a bit over 100k CHF, here.
Perhaps it would be wise for me to shift the money out of Switzerland (back to a UK account or somewhere else?) ahead of my move to the UK?
As you can tell, I really have no clue when it comes to tax so any help will be gratefully received!
I'm considering a move back to the UK after having lived and worked for several years in Switzerland. My question concerns the implications surrounding the recent UK/Swiss tax treaty for those of us who have savings accounts in Switzerland. Will it just be a case of declaring any interest I receive on my Swiss account each year to HMRC, once I'm back in the UK? Or will I have to provide some form of evidence that all the money was earned and taxed in Switzerland else they'll take a huge chunk of the capital? We're talking a bit over 100k CHF, here.
Perhaps it would be wise for me to shift the money out of Switzerland (back to a UK account or somewhere else?) ahead of my move to the UK?
As you can tell, I really have no clue when it comes to tax so any help will be gratefully received!