Switzerland

Her Majesty's Revenue and Customs (HMRC) has warned UK residents and organisations with Swiss bank accounts to declare any outstanding tax before it begins investigations.

Today's tax deal between the UK and Switzerland, designed to recoup £7bn from Brits with funds in Swiss bank accounts, is "unrealistic", according to accountants Baker Tilly.

A half-day conference will promote the low taxes and benefits for both individuals and companies of relocating to Switzerland.

The recent move of the Swiss National Bank (SNB) to set a minimum exchange rate against the euro will impact favourably on the Swiss property market, predicts international property search specialist Quintessentially Estates.

UBS has said it has discovered a loss in the region of $2bn as a result of rogue trading in its investment banking division.

The Swiss franc has fallen 9% against the euro after the Swiss National Bank (SNB) said it was setting a minimum exchange rate against the single currency.

In a generally busy month for trading, caused by market volatility, ETFs saw some of the largest rises in activity on the Six Swiss Exchange.

Deutsche Bank has listed 10 db x-trackers ETFs on the Swiss stock exchange, including ETFs on single and broad emerging markets indices.

Hawksford, a Channel Islands' independent trust company, has acquired L-S&S GmbH, based in Zurich, Switzerland along with its New Zealand trust company.

In its latest crackdown on offshore tax evasion, HMRC has signed an agreement with Switzerland that is expected to secure billions of pounds of unpaid tax for the UK exchequer from 2013.