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Old 17.02.2021, 23:18
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ZH 2020 Tax Return - UK Assets

I'm having ever so much fun filling in my first ever Swiss (ZH) tax return. Well, may be not....

Questions (apologies in advance if these have been answered in other posts, I have already scanned through looking for recent answers):

(1) UK SIPP
Still in accumulation phase, no withdrawals of any form.

Q1a. I believe that this does not need to be included in the tax return, is that correct?
Q1b. If not, where to fill this in?

(2) UK ISA
Still in accumulation phase, no withdrawals of any form.

Q2a. Does this have to be included?
Q2b. If so, where?
Q2c. If this has to be included, can portfolio admin charges be deducted?
Q2d. If so, where?

(3) UK Council Tax
Q3. Can this be included as part of costs associated with ownership of a UK property?

(4) Professional Expenses
I arrived in CH part way through the year and spent much of that time working at "the home office". Is the following understanding correct:
Q4.
- either claim 3% of net salary
- or claim notional commuting costs as if travelling in each day to the work office address?

5. Professional Tax Adviser
Q5. Can anyone recommend a tax adviser who is familiar with completing ZH tax forms as well as familiar with double taxation agreements and UK life (SIPPs, ISAs, property, tax, etc)?

Thank you in advance!
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Old 18.02.2021, 00:14
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Re: ZH 2020 Tax Return - UK Assets

ISA and ISA income is to be declared as if it were a regular account.

I think pensions don't have to be declared but not sure, everything else needs to be declared - bank accounts, interest, shares, dividends, your own Ltd company if you have one, art collections as investments, precious metal collections as investments, life insurance in some cases.



Swiss won't tax directly UK income from renting out a house but you still need to declare it. UK will tax it if necessary. You can deduct council tax from the rent if you're renting it out, otherwise I don't know.

Swiss will tax UK interest and if it's enough for the UK to tax then you have to ask for UK tax relief.
Swiss will tax dividends but in some cases you can reclaim the foreign tax already paid. This used to exclude UK dividend tax credits but it's changed in the UK now and I don't quite know the current situation.
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Old 18.02.2021, 12:37
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Re: ZH 2020 Tax Return - UK Assets

As Landers said re: declaring foreign accounts and income

For (4) the 3% of net salary is calculated automatically by the tax software. You can declare that plus any commuting /lunch / other costs.

The situation with WFH varies between cantons. I believe Zurich might be one of those that allows "theoretical" commutes - expensing as if you were going to work as normal. There are other threads here that go into that. Obviously it should be from the date when you arrived in Switzerland.
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Old 18.02.2021, 15:41
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Re: ZH 2020 Tax Return - UK Assets

Quote:
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I'm having ever so much fun filling in my first ever Swiss (ZH) tax return. Well, may be not....

Questions (apologies in advance if these have been answered in other posts, I have already scanned through looking for recent answers) ... <snip>
You're supposed to declare everything, but not all of your wealth e.g. untouched pensions, will be included in the final calculation.

If you're confident about doing your own tax return, go right ahead. Personally, I find the money I pay to an accountant every year to do it for me/ advise me is money very well spent. I send them all the figures, they send me back my completed tax return with instructions on which pages to sign + a big envelope to send it all to the Tax Office. Easy as that. Depending on the complexity of the return and any meetings/calls I might have arranged with them that year it costs anywhere between CHF 250 and 600. Might sound like a lot but I reckon that the advice I've had and sheer hassle and effort saved is worth much more than that to me.
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Old 18.02.2021, 17:38
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Re: ZH 2020 Tax Return - UK Assets

A2b: Under Wertschriften/Bankkonto/Ohne Verrechnungssteuer

A2c: Under Kontospesen


or something similar. If you make a claim for something which you shouldn't have done the tax people will simply disallow it.
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