LDF and Swiss-UK Tax Agreement 
opt for the voluntary disclosure. Table 12 shows the development of Mr Thompson's account balance 
as well as the final tax burden formulas calculated using the formula. 
Table 12 Case 2 parameters and calculations 
  
  
  
  
  
Year Account balance | Interest and gains 
2002 GBP 2,275,978 | GBP 87,538 
2010 GBP 2,864,908 | GBP 69,876 
2011 GBP 2,979,504 | GBP 114,596 
2012 GBP 3,128,479 | GBP 148,975 
  
Relevant capital 
GBP 3,128,479 
  
Total tax burden 
GBP 656,981 
  
  
  
Applicable tax rate 
21% 
  
  
  
Mr Thompson has relevant capital of GBP 3,128,479. His tax rate according to the formula is 21%. 
Thus he has to pay a total tax burden of GBP 656,981. Penalties and late payment interest are not 
owed under this agreement. As was shown 2.4.3, under normal disclosure, Mr Thompson would face a 
tax burden of GBP 1,855,668 or 64.8% of the total asset. Thus the Swiss-UK tax agreement would be 
cheaper for him. 
3.5.3 Case3 
Case 3 is the case of Mr Baker introduced in 2.4.4. Due to his address in the UK, and since he had a 
bank account at a Swiss paying agent on the relevant dates, he has to pay the one-off deduction or opt 
for voluntary disclosure. Table 13 shows the development of Mr Baker’s account balance as well as 
the final tax burden formulas calculated us 
ing the formula. 
Table 13 Case 3 parameters and calculations 
  
  
  
  
  
Year Account Balance | Interest and gains | Sales income | Rental income 
2002 GBP 23,038,226 | -GBP 4,038,040 GBP 120,000 | GBP 36,000 
2010 GBP 43,782,078 | GBP 3,231,561 GBP 120,000 | GBP 36,000 
2011 GBP 42,624,616 | -GBP 1,313,462 GBP 120,000 | GBP 36,000 
2012 GBP 48,748,062 | GBP 5,967,446 GBP 120,000 | GBP 36,000 
  
Relevant capital 
GBP 48748062 
  
Total tax burden 
GBP 11,402,066 
  
  
Applicable tax rate 
  
23.4% 
  
  
  
  
  
75
        

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