Tax Declaration UK/Swiss

Finance, Taxes, Banking, Insurance and Retirement
1
Hi EF Members!

Sorry, had tried searching on the site but to no avail, probably a newbie mistake

I’m still relatively new to Switzerland having moved here last year from the UK, I would highly appreciate some advice, guidance or help please.

I started working in Zurich in April 2015 and have always been on an L-Permit and so I requested for my Tax Declaration Forms this month, as I believe that I am able to offset certain expenses.

My question regarding this is:

i) Do I need to declare my UK Bank Account / Personal Savings in the UK? What happens if I have more than one account?

ii) If I completed an independent course / training course in relation to my career and paid and completed this course in the UK during my employment in Zurich (i.e. paid in £GBP) can this be included as a deductible?

iii) These are the Tax Deductibles I believe that can be offset:

- Daily lunch

- Daily commute

- Halb Tax Card

- Health insurance?

- Medical Cost in Zurich (not sure)?

- Travel Insurance (not sure)?

Is there anything else that I may have missed?

Prior to April 2015 (and during UK Tax Year April 2014 – 2015), I was only working for a 3 month period ☹ and was fortunate to find a role in Switzerland.

iv) Prior to my departure I told HMRC that I will be working abroad but I did not expect to be here for a year and for the foreseeable future. I will certainly reach out to HMRC and follow this up with them this week as I consider myself as a Swiss resident (as I currently live and work here and cannot by no means afford to travel back to the UK every week/month), but do I need to do fill out a P85 or SA105 or something else, as I only worked 3-months during Tax Year 2014 – 2015 in the UK?

So I’m a little lost....

Also, as I would like to transfer money back to the UK and would like to open a new savings account with HSBC in the UK, when I went their last weekend (as I was in the UK at the time) they asked me if I pay Tax in the UK or anywhere else?

v) Why would HSBC or any other UK Bank Savings Account need my AHV number to open an account if I'm an existing customer?

Any advice or help from EF members is much appreciated and hope that these questions aren’t silly as I have never worked abroad before, nor filled in a Tax return form here and it is my first instance, and I am enjoying it here in Zurich and would like to continue.

Thanks in advance for any input!

2

Yes, you have to declare all your UK/other bank accounts, they’re part of your wealth and go in that column of the form. Also a house that you might own in the UK.

Travel insurance I doubt, but Swiss health insurance premiums can be deducted up to a specified level. Medical costs, no, unless you pass a certain limit which is specified. You’ll get a booklet (in German probably) detailing everything.

Other possible deduction is any Swiss credit card outstanding payments you may have.

However, realise that the Swiss tax year runs Jan-Dec, so you’re late in asking for a tax form. Usually these are sent out early/mid Jan and need to be returned by end of March for Zurich I think.

3
Hi Medea F,

Thanks for your reply much appreciated.

I wish I did but I don't own a property in the UK as yet :s so this I wouldn't be eligible for. I will complete as required regarding the accounts.

Hopefully other EF members may be able to shed some light too regarding the training course costs completed in the UK (if applicable) and other items (HMRC , AHV number to UK banks).

Thanks again and have a great day!

4
Unless the tax authorities ask you to fill in a return (earn over 10k a month) it's best not to as you will possibly pay more tax if you do.

It's assumed you spend approx 3% of your income + 500 CHF on work related matters in addition to approx 3k for lunch, 2.5k capped on health insurance & travel to work expenses.

Just list accounts with Iban

5
Thanks Fatmanfilms! I will make a note of this too. I probably will have one or two more questions too later today / this week as this process is very confusing to me lol.

Can I ask how I would declare or what costs would be considered as '3% of your income + 500 CHF on work related matters'? Sorry for the trouble.

Enjoy the start to your week!

6
If you fill in the form it asks for the info, if you don't fill in the form it assumes 10-15k of deductions when deducted at source.

7

I just work out the 3% from the net salary figure which is how it’s done here in Fribourg. There is a max figure that you can’t go above. Check the booklet that should come with the form that will tell you any maximum amounts like travel expenses, lunch deductions, etc.

As Fatmanfilmes said the figure tends to be assumed - the one year I left it off they deducted it anyway when calculating our tax. So now I include it.