Tax return requirements for B-Permit holder?

Finance, Taxes, Banking, Insurance and Retirement
1
I am struggling to get a clear understanding of who is and isn't required to submit a tax return in Switzerland (Zurich)

I have a B permit and earn under 120K. As I own UK property (with mortgage), some sites have led me to believe that I need to declare and submit this information for withholding tax adjustment.

I came across this site: https://www.expatica.com/ch/finance/...erland-100013/ and it says people who have to submit a tax return include:

Swiss citizens Foreigners with Swiss permanent residence (Permit C) Foreigners married to a Swiss citizen Employees of foreign employers Self-employed workers

I'd be happy to seek professional advice but I'd rather get a basic understanding of what I need to do, before setting myself up to be ripped-off. Do people have a similar experience and have any advice?

2
Source-tax taxpayers with additional income not subject to source-tax which is greater than Fr. 3'000 and/or owns assets that exceed Fr. 80'000 (or Fr. 160'000 if filing jointly) are required to file an ordinary tax return in Ct. Zurich. Please see this link for more details and on how to apply for ordinary taxation (German):

https://www.zh.ch/de/steuern-finanze...erkorrekt.html

3
From https://www.zh.ch/de/steuern-finanze...-Personen.html (translated):

[need to submit tax returns]

For persons subject to withholding tax who are resident in the canton of Zurich

- if a gross annual income of at least CHF 120,000 is achieved [...]

- if withholding tax credits are reclaimed

- if the income that is not subject to withholding tax (e.g. income from securities or property) is at least CHF 3,000

- if the taxable assets (e.g. securities, real estate) of individuals are at least CHF 80,000 or the taxable assets of joint taxpayers are at least CHF 160,000

so if you earn rent from the property or it costs enough to bring your wealth to the threshold, you need to proactively file a tax return as far as I understand.

The only thing I am not sure about if you can argue that your property is not taxable because of treaties, so you don't need to submit it

And to clarify since you mentioned withholding tax adjustment: starting this year it is applied only when things got messed up and you payed the wrong amount, which is probably not your case. You need to figure our whether you are required or not to raise a hand and ask for modules for the full tax return to fill out

4
Thank you for this. Based on this it seems that I need to apply for the standard tax assessment. I receive a small amount of rent in the UK, which is declared in my UK return, but even though this stays in my UK account, it seems this should also be declared in Switzerland?? Does this mean I will be subject to double taxation?

Ps if anyone has any recommendations for financial advisors with experience of dealing with UK-CH tax issues, I'd really appreciate it.

5
The CH tax process for foreign real property is:

1. Declare the value of the foreign real property.

2. Declare any rental income and associated property expenses.

3. Calculate a Steuerausscheidung (tax exclusion).

4. The Steuerausscheidung process sets the asset tax rate for the taxable assets but removes the value of foreign real property from taxation.

5. This process also generally removes most of the foreign net rental income from Swiss income taxation although not completely.

Hope this assists you.