How/Who to pay tax if leaving Switzerland but still working for same company

Finance, Taxes, Banking, Insurance and Retirement
1
Hi

I joined this forum ages ago when I was first moving to Switzerland

But now I have some exit questions

If you're still working for the same Swiss company but you want to move back to your home country (UK) how are taxes handled?

I get the part to de-register

Taxes for a B permit are at source (just get deducted from pay check)

Scenario A Question

If the swiss bank allows you to keep it open, should you expect the UK to tax the swiss bank savings, which were made whilst a swiss resident or just from the de-register date onwards?

Scenario B Question

If all swiss bank money is transferred to UK account - should you expect it to be taxed on transfer into UK bearing in mind Swiss tax was paid on it.

Summary Question

So I suppose in summary, how to pay least tax legally if you're moving to UK but have Swiss bank and employer, but are not Swiss?

2
The money you’ve already earned should not be taxed in the U.K. at all.

If you are continuing to work for the Swiss company after moving to the U.K., then that money should be taxed in the U.K.

3
I don't know if savings are taxed in the UK, but if they are, their origin should not matter.

Also here, the fact that you paid income tax in CH does not automatically exclude future taxes when you use that income, both in CH or abroad.

You can buy fuel and pay more taxes on it, or buy shares and be taxed on the dividends, and so on.

The only thing that should not happen is being taxed twice for the same reason , and there are international agreements regulating that. Your past CH income will never be taxed as income in the UK, but it can very well be taxed otherwise, e.g. if your savings concur to determine your wealth for asset-based taxation.

I don't know the UK system and I know I did not reply exactly to the original questions, but I wanted to comment on the assumptions of those questions.

4
If you keep your Swiss bank account, the only thing HMRC will tax you on is on any interest earned. There being no wealth tax (yet!) in the UK it will not make any difference where you hold your savings.

Be aware though the Swiss will take a 35% withholding tax on any interest earned and you can offset this against the tax you pay in the UK so you won't pay double tax on the interest. However, if your tax rate in the UK is higher, then you'll pay the difference, but you'll get nothing back if its lower.

I also believe there is a mechanism for claiming back the Swiss WH tax if you're not Swiss resident.

5
Only on the interest.

No. It's taxed income.

There is just the tax you have to pay - there is no legal way of paying less. You pay (UK) tax on any interest paid on any account in the world, less the withholding tax taken by the Swiss bank.