HMRC's Swiss tax deal 'unrealistic'

The deal, which will deduct a one-off payment of between 19% and 34% from offending accounts, is "an excellent agreement", according to Exchequer Secretary David Gauke. "Working with the Swiss Government we have delivered a highly effective solution which will benefit both countries and recover billions of pounds of unpaid tax for the UK," he said. But Mike Down, from Baker Tilly's tax risk and investigation management division, said the deal would hit taxpayers who may have legitimately not disclosed Swiss accounts. "We have become increasingly concerned that HM Revenue and Custom...