hello
i've a couple of questions concerning the tax declaration i've to do this year:

1. do i need to declare all the bank accounts i've abroad too, or only the swiss one?

2. if i do not declare one of the bank accounts (either swiss or foreign one) what might happen if the swiss tax guys discover it? which are the exact sanctions?

thanks a lot

1. Yes.
2. Tax evasion is not a crime in Switzerland, so just the tax, interest and penalties

D

No benefit in "forgetting" Swiss bank accounts. The bank deducts 35% tax at source. Declare it and get a refund.

thanks!!!
how much is the penalty?

I'm sure it is likely related to the amount that you would owe. If you've offshored in the right locations, the only way that they could ever know is via a whistleblower.....

i've nothing offshored, but i am interested in getting to know how much is the penalty for a swiss bank account not declared, i.e. 100.000 chf

Not sure of penalty. Something like double the unpaid tax plus accrued interest on the back taxes. But why go that route? Declare the interest income and get reimbursement of tax deducted at source.

Maybe because you don't want to have to explain to the tax authorities where the money came from in the first place?

thanks you all, if this is the case i'll declare them, i think it's worth.
as it's my first tax declaration i don't need to explain them where they come from, so no problem.
thanks again

Does that mean UK Tax office talks to CH tax office.

If you don't declare savings you have in one year they may try to tax these savings as earnings the next year. If you do want to declare something for the first time, you can declare that it was a gift received.

Our old accountant said to not declare any savings not in Switzerland because you are not charged a high penalty. BUT the rate charged for not paying your Bundessteuer on time is 4% - or or than my mortgage.

Thanks. I am already paying 20% default tax in UK on savings.
I have some frozen ISA.
Would the CH authorities find out about UK savings ? I have told the UK inland revenue that I am a 'non-resident' in UK and am not filing tax in UK, so they may have informed the CH authorities.

No, HMRC won't cooperate like that with the Swiss tax people

Don't forget to claim your tax back on form R43...

Gifts are taxable in Switzerland, except from parents to offspring. Also the tax office wants to know who the donors are to verify their asset evolution.

Why don't you file a tax return in the UK instead of paying 20% default tax on your savings? You still get a tax free amount of around £5k as a non-resident.

The banks are required to know their clients and they share information throughout the EU. Saying that, unless your savings are of a high amount and you are earning loads of interest, I doubt that the Swiss authorites would be bothered. The tax declaration does ask for worldwide income and savings - including bank acount numbers.

You don't normally need to submit a tax return in the UK.
You fill in form R43...
Oddly enough, just like we have for the last 3 UK tax years...

I think I need to complete returns though because although no tax at source is deducted from my bank account, I make an income from real estate.

I don't know about that.
The r43 has a space for property income though IIRC...

Thanks. I've just been too lazy.