In the tax field, there is a double taxation agreement (DBA) between Switzerland and the United Kingdom. The DBA has been subject to several revisions, most recently by an amendment protocol that came into effect on July 19, 2019. On 23 June 2016, British voters voted to leave the European Union (EU). The decision came into force on 31 January 2020 on the basis of the eu-UK withdrawal agreement. The transitional period under the withdrawal agreement expires on 31 December 2020. Subsequently, the UK will no longer be part of the EU internal market and customs union and will no longer be bound by EU law. Uk-Swiss Direct Insurance Agreement Decision to accompany parties to the UK-Swiss DIA During the transitional period, EU agreements with third countries, such as bilateral agreements between the UK and Switzerland, continue to apply in the UK. Therefore, nothing changes between Switzerland and the United Kingdom during this period. To ensure the continuity of the rules in force in the financial sector, Switzerland and the United Kingdom signed on 25 January 2019 a direct insurance agreement other than life insurance (UK-Swiss DIA). Like the insurance contract with the EU, this agreement allows non-life insurance companies (for example.
B household insurers and travel insurers) to operate branches in the other country. The agreement between the United Kingdom and Switzerland came into force on 1 January 2013. It is not a possibility of disclosure per se. In February 2015, HMRC established a standard disclosure package for Swiss offshore revelations. Switzerland and the EU signed an agreement on the AIA in 2015. Since autumn 2018, data have been exchanged between Switzerland and the United Kingdom on this basis. During the transitional period, the bilateral agreements ENTRE the EU and Switzerland continue to apply to the United Kingdom. After the end of the EU-Uk transitional period, the AIA is expected to continue from 1 January 2021 on the basis of a multilateral agreement on the competent authority (MCAA).
Details of the Swiss contract transfer can be found in the 2013 Finance Act. Until now, relations between Switzerland and the United Kingdom have largely been based on bilateral agreements between Switzerland and the EU.