{"id":2218,"date":"2013-11-04T00:00:00","date_gmt":"2013-11-04T00:00:00","guid":{"rendered":"http:\/\/dev14.p-2-p.co.uk\/uncategorized\/swiss-bank-account-holders-face-new-deadline\/"},"modified":"2013-11-04T00:00:00","modified_gmt":"2013-11-04T00:00:00","slug":"swiss-bank-account-holders-face-new-deadline","status":"publish","type":"post","link":"https:\/\/hebblethwaites.com\/index.php\/swiss-bank-account-holders-face-new-deadline\/","title":{"rendered":"Swiss bank account holders face new deadline"},"content":{"rendered":"<p>\n\tUK residents, whose Swiss banking arrangements have been disclosed to HMRC under the UK\/Swiss tax agreement, have started to receive follow up letters from HMRC.<\/p>\n<p>\n\t&nbsp;Earlier this year account holders were given a choice:<\/p>\n<ul>\n<li>\n\t\tTo pay over a fixed percentage of their account balance to compensate for tax previously unpaid.<\/li>\n<li>\n\t\tOr, to authorise their Swiss Bank to disclose their account details to HMRC. This did not apply to non-UK domiciled individuals.<\/li>\n<\/ul>\n<p>\n\tHMRC have been writing to this second group. Recipients of these letters were required to act quickly. HMRC set a deadline of 1 November 2013 to complete and return one of three certificates. If you have received such a letter, and have not responded, you should take advice quickly. The certificate you should have submitted is one of the following three options:<\/p>\n<ol>\n<li>\n\t\tCertificate A: a declaration that they have no outstanding UK tax liabilities (either in relation to the Swiss accounts or other sources).<\/li>\n<li>\n\t\tCertificate B: a declaration that they will be disclosing any outstanding liabilities using the Liechtenstein Disclosure Facility (LDF), or<\/li>\n<li>\n\t\tCertificate C: a declaration that they will be disclosing their outstanding liabilities outside the LDF.<\/li>\n<\/ol>\n<p>\n\tFailure to respond to the HMRC letter may result in a formal investigation being mounted by HMRC and the risk that criminal proceeding may be taken. Account holders should consider their options carefully and respond without further delay. Completing Certificate B would avail you of certain concessions regarding penalties chargeable, and in particular, immunity from prosecution.<\/p>\n<p>\n\t&nbsp;Readers affected would be wise to take professional advice before responding to HMRC.<\/p>\n<!-- -->","protected":false},"excerpt":{"rendered":"<p>UK residents, whose Swiss banking arrangements have been disclosed to HMRC under the UK\/Swiss tax agreement, have started to receive follow up letters from HMRC. &nbsp;Earlier this year account holders were given a choice: To pay over a fixed percentage of their account balance to compensate for tax previously unpaid. Or, to authorise their Swiss [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-2218","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/posts\/2218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/comments?post=2218"}],"version-history":[{"count":0,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/posts\/2218\/revisions"}],"wp:attachment":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/media?parent=2218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/categories?post=2218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/tags?post=2218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}