Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #1  
Old 11.05.2011, 20:05
Newbie
 
Join Date: May 2011
Location: 1660
Posts: 2
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
hogshatch has no particular reputation at present
Forfeitary taxes on holiday home owner

For someone resident and domiciled in the UK with a holiday home in the Vaud it is logical to pay the Swiss forfeitary personal tax on notional income and wealth rather than paying Swiss tax on worldwide income. Can anyone tell me if any of the federal, cantonal or communal taxes paid in Switzerland be set off against UK tax?
Reply With Quote
  #2  
Old 11.05.2011, 20:29
miniMia's Avatar
Forum Legend
 
Join Date: Apr 2007
Location: romandie
Posts: 9,975
Groaned at 101 Times in 92 Posts
Thanked 9,106 Times in 4,522 Posts
miniMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond repute
Re: Forfeitary taxes on holiday home owner

You should have to pay taxes on your regular income or your world wide income, assets etc if you are not resident in CH. But you do have to pay taxes related to the property which includes the notional rent income and wealth tax on the house.

Not sure how it works for you as a holiday home owner. But we have our home there that is rented now that we are away and we pay tax on the rent set off by the mortgage. But no other taxes are paid in Switzerland. Our income tax, etc are paid here in Argentina.

I don't know if you can set off anything in the UK. We can't here.

ETA: Now I'm thinking I might not have answered your question & I'm even wondering if I understood your question.... :s
__________________
Reply With Quote
  #3  
Old 16.05.2011, 13:18
Newbie
 
Join Date: May 2011
Location: 1660
Posts: 2
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
hogshatch has no particular reputation at present
Re: Forfeitary taxes on holiday home owner

Thanks for responding. I pay full UK taxes on all my worldwide "actual" income and capital gains. As I also pay Swiss forfeitary tax on "notional" income and wealth my question is whether it is possible to set the Swiss tax, at least the tax on notional income, against the UK income tax paid. If not, I am being taxed twice on part of my income. I accept that the Swiss Wealth Tax may not be recoverable as we do not yet have a Wealth Tax in the UK.

It was kind of you to respond as your problem would be the double tax agreement of Argentina/Switzerland and not that of the UK/Switzerland.
Reply With Quote
  #4  
Old 16.05.2011, 19:25
miniMia's Avatar
Forum Legend
 
Join Date: Apr 2007
Location: romandie
Posts: 9,975
Groaned at 101 Times in 92 Posts
Thanked 9,106 Times in 4,522 Posts
miniMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond reputeminiMia has a reputation beyond repute
Re: Forfeitary taxes on holiday home owner

Quote:
View Post
Thanks for responding. I pay full UK taxes on all my worldwide "actual" income and capital gains. As I also pay Swiss forfeitary tax on "notional" income and wealth my question is whether it is possible to set the Swiss tax, at least the tax on notional income, against the UK income tax paid. If not, I am being taxed twice on part of my income. I accept that the Swiss Wealth Tax may not be recoverable as we do not yet have a Wealth Tax in the UK.

It was kind of you to respond as your problem would be the double tax agreement of Argentina/Switzerland and not that of the UK/Switzerland.
Yes. I sort of figured after that I wasn't really answering the right question. lol. Anyway, I can't help you with the double tax thing. Sorry.

But at least we'll get your thread back up to the top & hopefully someone else will be able to help.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Tax on a holiday home telandy Finance/banking/taxation 23 08.09.2010 20:10
Holiday home FRANKH Housing in general 4 27.07.2010 21:44
Holiday Home peteandkendal Housing in general 0 23.04.2009 14:57
Home Owner Minimum Stay? Toby Housing in general 0 12.02.2009 00:17


All times are GMT +2. The time now is 06:45.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0