New tax treat between Bern and London.

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British residents with undisclosed funds in Swiss bank accounts are to be hit with a tax of 19 to 34 per cent of the balance, following a new tax agreement between Switzerland and the UK. A withholding tax of 27 to 48 per cent will also apply, depending on the category of capital income - a rate slightly below the top tax rates in the UK. And to crack down on tax evaders, British authorities will be able to request information from Switzerland...

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