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First of all I would like to apologies for my English. It is not my native language so please try to understand me.
I have a question regarding tax in situation if I am self employed in UK for whole year but additionally in the same tax year I have got some work in Switzerland from November 2014 till March2015. Here is little bit more about current situation:
In UK I am self-employed, to deal with accounts I use service of accounting company. Therefore they don’t provide any advise about double taxation between different countries.
Usually I pay myself salary on level 8-900 pounds per month. Rest is pay out in form of dividend, up to the level where the tax is not going above some limit. This is what I did for the last 1,5 year.
In November 2014 I start work in Switzerland. Therefore the local company hired and registered me here as regular employee. So at the same time I start pay local Swiss tax. It didn’t change anything from UK perspective. My English company still brings some monthly income however I stop pay out salary for there.
Now the question is, Do I have to inform HMRC about my additional source of income coming from Swizz job in the tax year 2014/2015 ? If so than how it has to be done ? Do I have to add amount of money after tax or before Swiss taxation ?
Or I don’t have to inform HMRC about income from Switzerland and just make separate tax calculation for UK and Swiss ? which as I believe more benefit for me ?
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Assuming your still resident in the UK, you have to pay tax on your world wide income & capital gains unless your a Non Dom.
You need to pay tax on your gross Swiss income , pension payments can be deducted but not AHV payments. Any Swiss tax can be used to offset UK taxes.
When you fill in a tax return in the UK , you can show the income & taxes paid.
If however you have a full time contract of employment in CH, you are definitely non resident in the UK, you should inform the UK revenue if this is the case.