Volltext: The future importance of tax compliant clients

LDF and Swiss-UK Tax Agreement 
agreements. Thus the tax year for the LDF starts in January of every year instead of April in order to 
align the cases and facilitate this comparison. 
2.4.2 Casel 
The following case is inspired by a real case from Barry & Airey.” 
Ms Brown is domiciled and residing in the UK. She opened a Bank account in Switzerland in 2004 in 
order to deposit a commission of GBP 350,000.00 earned by acting as an agent in the sale of an off- 
shore company. The bank account accumulated income and gains of GBP 101,114 from 2004 until 
2012. The income was not declared to HMRC. For her common UK taxed income, Ms Brown is treat- 
ed as a higher rate taxpayer. Due to the exposure of several tax evasion cases, she decided in 2012 to 
declare these assets to HMRC. Ms Brown agreed with her lawyer to open a bank account in Liechten- 
stein and to transfer the assets in order to receive the certificate of relevance. 
The case has the following parameters: 
Table 4 Case 1 parameter 
  
  
  
  
  
  
  
  
  
  
  
Year | Account balance | Interest and gains 
2004 | GBP 350,000 
2005 | GBP 385,000 GBP 35,000 
2006 | GBP 411,950 GBP 26,950 
2007 | GBP 449,026 GBP 37,076 
2008 | GBP 458,006 GBP 8,981 
2009 | GBP 421,366 -GBP 36,640 
2010 | GBP 446,647 GBP 25,282 
2011 | GBP 451,114 GBP 4,466 
2012 | GBP 478,181 GBP 27,067 
  
  
  
  
The expected tax burden would be as follows: 
Table 5 Case 1 calculation 
  
  
  
  
Taxes Normal Taxation LDF LDF CRO 
Income & gains 35.5% GBP 25,335 | 35.5% GBP 25,335 | 40% GBP 28,546 
2004 - 2009 
Income & gains 2010 35.5% GBP 8,975 | 35.5% GBP 8,975 | 35.5% GBP 8,975 
  
  
  
  
  
* Barry & Airey, 2012, p. 13 & 14. 
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