HM Revenue & Customs have recently issued letters to all UK resident individuals who hold investments in Switzerland, believing that there are significant amounts of income that should have been declared and taxed in the UK. Taxpayers are given the option to complete and return one of three certificates, with penalties of up to 150% of the unpaid tax for non-compliance. Time is ticking - the deadline to return the certificate is 1 November 2013. If you are affected by this and would like further advice please contact Glenn Collingbourne or Nick Haines as soon as possible. |