CH207385 - How to do a compliance check: establishing the facts: asking for information: UK / Swiss tax cooperation agreement: analysis of the response

This page and chapter are under review as the relevant content is also published in the technical guidance chapters of the Compliance Handbook, within Compliance checks factsheets and in Compliance checks guidance. If you use particular pages regularly, please email hmrcmanualsteam@hmrc.gov.uk to let us know the specific content you find useful

The OCU will send an acknowledgement to you confirming that the request has been received and that it will be reviewed.

The OCU will make a decision as to whether the request is accepted or rejected within 28 days of the request being made.

When a request is returned to you by the OCU they will tell you

  • why the request has not been taken forward, for example
  • there are no plausible grounds
  • what further action you need to take, for example
  • more information is required
  • the request is to be kept on file due to higher priority requests.

When a request is taken forward the OCU will

  • normally inform the UK based person of the approach to the Swiss tax authorities
  • let you know when this has been done
  • submit the request to CEI.

In most cases the OCU will receive a response from the Swiss Federal Tax Authority within 90 days. However, note that the UK person does have a right of appeal against the information exchange that may cause a delay.

A reply to your request may take up to 120 days and the OCU will contact you, whatever the outcome. Do not issue a reminder before then.

Following a reply from the CEI

The OCU will send the details of the response immediately to you as set out in Part One of the stencil.

If there is a positive response you will receive details of the number of accounts held by the person during the time period and the name of the provider institution.

Example

In answer to a request for information you may get the response

  • Mr Grey
2 accounts or deposits: UBS AG
1 account or deposit: HSBC

If there is a negative response this may be because

  • there is no account
  • the account has been subjected to either a one-off payment or the withholding of tax.

A negative response will not specify the reason why it is negative.

In the case of the latter, you later establish that the proceeds of a sale were indeed deposited into a Swiss bank account. However, those proceeds were cleared for Income Tax and Capital Gains purposes by a one-off payment levied on the account on 31 May 2013 and you are provided with a certificate to demonstrate this, see INTM820600. In such circumstances further advice will be available from OCU to aid in the correct interpretation of such certificates.