Only a few days to go: We’re raising £25,000 to keep TheyWorkForYou running and make sure people across the UK can hold their elected representatives to account.

Donate to our crowdfunder

Taxation: Personal Savings

Treasury written question – answered on 12th February 2009.

Alert me about debates like this

Photo of Austin Mitchell Austin Mitchell Labour, Great Grimsby

To ask the Chancellor of the Exchequer how much tax has been repatriated to the UK by each country adopting the withholding tax option under the EU Savings Tax Directive.

Photo of Stephen Timms Stephen Timms Financial Secretary (HM Treasury) (also in the Department for Business, Innovation and Skills)

The amounts of tax paid to the United Kingdom by those countries adopting withholding tax under the terms of the European savings directive or equivalent agreements with third party jurisdictions for the years 2005-06, 2006-07 and 2007-08 are set out in the following tables.

The withholding tax regime is a transitional mechanism. The UK strongly supports, and is promoting internationally, transparency through exchange of information as the way forward in combating cross-border tax evasion.

UK tax year 2005-06, as at January 2009
Amount of withholding tax
Country £ $ Swiss Frs
EU member state
Austria 213,037.32
Belgium 663,601.22
Luxembourg 1,763,133.54
Associated and dependent territories
British Virgin Islands 429.17 0.79
Gibraltar 87,239.99
Guernsey 2,330,160.03 27,547.26 184,144.79 18,646.36
Isle of Man 6,393,423.50
Jersey 5,513,642.44 101,054.29 922,165.96 815.70
Netherlands Antilles 0
Turks and Caicos Islands 2,773.51
Third party states
Andorra 58,692.81
Liechtenstein 59,246.58
Monaco 372,994.00
San Marino 2,927.53
Switzerland 12,965,211.70
UK tax year 2006-07, as at January 2009
Amount of withholding tax
Country £ $ Swiss Frs
EU member state
Austria 716,410.86
Belgium 1,621,577.96
Luxembourg 3,868,148.76
Associated and dependent territories
British Virgin Islands 1,278.52 158.39
Gibraltar 421,984.11
Guernsey 7,164,128.93 880,057.37 463,165.62 53,364.21
Isle of Man 9,765,119.30
Jersey 12,795,799.00 242,410.00 2,027,643.00 205.00
Netherlands Antilles —- NA gld 1,121.59
Turks and Caicos Islands 9,331.46
Third party states
Andorra
Liechtenstein 371,593.84
Monaco 905,583.00
San Marino 11,372.78
Switzerland 12,983,994.17
UK tax year 2007-08, as at January 2009
Amount of withholding tax
Country £ $ Swiss Frs
EU member state
Austria 1,086,497.75
Belgium 2,224,448.73
Luxembourg 3,812,286.91
Associated and dependent territories
British Virgin Islands 1.47 3,748.23 1,397.87
Gibraltar
Guernsey 7,471,670.19 800,818.05 289,957.60 59,219.53
Isle of Man 10,699,869.08
Jersey 15,546,309.00 402,977.00 2,125,508.00 2,127.00
Netherlands Antilles NAgld 1,466.73
Turks and Caicos Islands 4,972.36
Third party states
Andorra 200,492.80
Liechtenstein 542,534.00
Monaco 1,067,492.00
San Marino 9,961.44
Switzerland 40,227,819.75

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.