The general reaction to HMRC’s announcement that it has collected only £747m so far from the Swiss/UK tax agreement has been that it is a ‘flop’.
Rather than viewing the situation as a disappointing performance, Withers’ Zurich-based tax partner Judith Ingham sees it more as one of unrealistic expectations. The government hoped to recover £3.2bn, but there are several reasons why this was always unlikely:
The general reaction to HMRC’s announcement that it has collected only £747m so far from the Swiss/UK tax agreement has been that it is a ‘flop’.
Rather than viewing the situation as a disappointing performance, Withers’ Zurich-based tax partner Judith Ingham sees it more as one of unrealistic expectations. The government hoped to recover £3.2bn, but there are several reasons why this was always unlikely: