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Old 13.09.2012, 16:36
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CH tax treatment of UK tax-free savings

I am planning a move from the UK to Switzerland.

Does anyone know about how the interest generated by tax-free savings in the UK (such as ISA's and NS&I) are treated in the compilation of Swiss tax? In other words, although they are tax-free in the UK, are they taxable in Switzerland?
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Old 13.09.2012, 16:47
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Re: CH tax treatment of UK tax-free savings

not if they dont know
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Old 13.09.2012, 18:15
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Re: CH tax treatment of UK tax-free savings

Don't declare them. But if you leave the UK don't you lose the tax free interest, aren't you then paid interest gross?
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Old 13.09.2012, 18:32
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Re: CH tax treatment of UK tax-free savings

Hi, Sbrinz, thanks for the reply.

Believe in the obligation to declare accurately on my tax return.

Official guidance from HMRC in the UK is as follows:

Q. What happens if I go abroad?
A. You can only open an ISA if you are resident and ordinarily resident in the UK for tax purposes. If you start an ISA in the UK and then go abroad, you cannot continue putting money into the ISA (unless you are a Crown employee working overseas or the spouse or civil partner of a Crown employee working overseas). However, you can keep your ISA and you will still get tax relief on investments held in the ISA. When you return, you can start putting money in again (subject to the normal annual limits).
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