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Old 25.01.2012, 01:15
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Swiss withholding tax, no longer a Swiss resident

Hello. I have searched for a little while here to find an answer, but no such luck. Hopefully someone can help me.

I lived in Switzerland from 2006 to end of 2009, and now I live in London, UK.

I still have a bank account in Switzerland. The bank knows I live in London

The bank still charges me 35% withholding tax on the interest earned with that account.

Is there any way to claim back some, or all of that tax paid?? Is it just a matter of a form, and it gets deposited back into the Swiss account? Or ???

Thanks for any help!
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Old 26.02.2013, 16:16
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Re: Swiss withholding tax, no longer a Swiss resident

Hello electronaut,

have you found a solution for this? Im am still living and working in switzerland, but will leave soon, but planning to leave the account here with all my money and getting some interest in the end of the year, but dont know what happens to those 35% withholding tax. I wonder if I can reclaim at least part of it.

Anyone has experience with this?

Thank you very very much
Have a great day
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  #3  
Old 26.02.2013, 16:27
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Re: Swiss withholding tax, no longer a Swiss resident

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Hello electronaut,

have you found a solution for this? Im am still living and working in switzerland, but will leave soon, but planning to leave the account here with all my money and getting some interest in the end of the year, but dont know what happens to those 35% withholding tax. I wonder if I can reclaim at least part of it.

Anyone has experience with this?

Thank you very very much
Have a great day
You cant reclaim it but you can use it to offset your UK tax on that interest under the DTA. You do declare that income in the UK right?

Also be aware that new rules apply to Swiss bank accounts held by UK residents in relation to tax evasion.
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Old 26.02.2013, 16:43
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Re: Swiss withholding tax, no longer a Swiss resident

Danny thank you very much for your reply.
Im actually portuguese, and will be actually travelling for about 2 years, so will not be filling out tax declarations any where, except maybe on switzerland . But if you write that is not possible to reclaim those 35% (only residents can do it right?) then I think its not worth to have the account here, in portugal the tax will be 27.5%, or close.

I tried to search this forum, and couldnt find clear information about this.
according to this website, there is an agreement with EU countries , on which tax is 35% as of 2011.

Is there any pointer you are able to provide or place to look in to?

thank you again for your patience and time.
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Old 26.02.2013, 16:45
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Re: Swiss withholding tax, no longer a Swiss resident

I can research it, but for 400chf an hour. PM me if still interested
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Old 26.02.2013, 17:02
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Re: Swiss withholding tax, no longer a Swiss resident

Thank you Danny, 400chf will be the 35% I will have to pay for the 2 years .

For those interested, the information is here, but in german..
http://www.estv.admin.ch/verrechnung...x.html?lang=de
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Old 27.02.2013, 23:32
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Re: Swiss withholding tax, no longer a Swiss resident

Thanks Danny.

1) no, i was not reporting the interest earned as income here in the UK. but for the 9 CHF per year i was getting, i really couldn't justify it!

2) i have closed my Swiss account earlier this year, in light of the new rules, and just to make it easier to manage my money.

The only thing left in Switzerland now is my Freizügigkeitskonto. It's easy to leave it there, and they (UBS) said it's ok to leave it there until i either leave the EU, or retire.

Cheers!
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Old 28.02.2013, 00:48
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Re: Swiss withholding tax, no longer a Swiss resident

Your pensions account probably has a mixture of compulsory contributions and "ueberobligatorisch" too. The latter you can actually get paid out as soon as you leave Switzerland even moving within the EU.
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Old 28.02.2013, 22:09
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Re: Swiss withholding tax, no longer a Swiss resident

This might be confusing the two cases (electronaut and redcap_) but it could be useful for some people...

If you live in the UK but are not living there long term, then you could get paid (up to GBP 2k per year) interest tax-free as long as you don't remit (transfer) it to the UK.

I've not yet seen how this (the remittance basis of tax for non-domiciles or not-ordinarily-residents) applies under the UK-Swiss agreement (whereby your details will be given to HMRC unless you agree to a withholding tax).

However, given the fees that UBS charge for non-residents, I am not sure that the tax savings will be worthwhile for many people.
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Old 14.08.2015, 15:23
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Re: Swiss withholding tax, no longer a Swiss resident

http://www.baerkarrer.ch/publication...x%20Reform.pdf
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