Introduction Summary
1.Section 221 amends Schedule 36 to Finance Act 2012 which gave effect to the UK-Swiss Confederation Taxation Cooperation Agreement (the Agreement) signed on 6 October 2011 between the UK and Switzerland on co-operation in tax matters. It provides that certain transfers made under the Agreement will not give rise to a taxable remittance where they are made by a person who is taxed on the remittance basis.