The mention of Swiss bank accounts conjures up images of criminals and the super-rich squirrelling away vast amounts of money, anonymous, safe and tax-free, but a new agreement between the UK Government and Switzerland will mean that tax evaders can no longer hide behind Swiss banking secrecy.

The Government plans to tackle offshore tax-evasion will kick off in 2013 and is expected to bring in billions of pounds of unpaid taxes to the UK.

Question: I just offered £240,000 for a house. I’m a first-time buyer. If the seller accepts my offer, will I have to pay stamp duty?

Answer: No. From 25 March 2010 to 24 March 2012, first-time buyers do not have to pay SDLT on residential property and land valued at under £250,000. To learn more, read the following article: Do I have to pay stamp duty? (FindLaw UK).