The Government is today initiating a historic agreement with Switzerland to tackle offshore tax evasion in an effort to resolve the long-standing abuse of Swiss banking secrecy by those who seek to conceal the proceeds of tax evasion,  this measure is expected to secure billions of pounds of unpaid tax for the UK exchequer starting from 2013. Under the terms of the agreement, existing funds held by UK taxpayers in Switzerland will be subject to a significant one-off deduction of between 19% and 34% to settle past tax liabilities, leaving those who have already paid their taxes unaffected. As a … Continue reading UK and Swiss agreement on tax evasion