Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • HappyCamper96
    • By HappyCamper96 18th Jan 17, 4:15 PM
    • 2Posts
    • 0Thanks
    HappyCamper96
    'Confirm where you are resident for tax purposes' letter has come through the post...
    • #1
    • 18th Jan 17, 4:15 PM
    'Confirm where you are resident for tax purposes' letter has come through the post... 18th Jan 17 at 4:15 PM
    I've been with Lloyds Bank for a while now, and I've lived in the UK all my life and never left the continent.

    I've received a letter through the post reportedly from Lloyds Bank which is black and white on all 7 pages of the letter, and asks me to write my DOB, my TIN number (I've never heard of that) and send it all off to:

    Lloyds Banking Group
    PO Box 841
    LS1 9QE

    The first paragraph reads: 'There has been a change in the international tax legislation which has introduced the Common Reporting Standard (CRS). It means financial institutions are required to report customers' account information based on their tax residence, to the tax authorities local to where their financial accounts are held.'

    It's signed off at the bottom with:

    Philip Robinson
    Director of Savings.

    As I've said, I have never been to the US, and I have been a UK Resident my whole life. Is this a scam letter, or a genuine letter? Thanks!
Page 2
    • bertiewhite
    • By bertiewhite 5th Oct 17, 2:36 PM
    • 728 Posts
    • 768 Thanks
    bertiewhite
    Why not take the letter into the bank, ask to see the manager and ask them to explain it? You'll know if it's legit then and you can also ask the manager what happens if you refuse.
    • robusta
    • By robusta 5th Oct 17, 3:02 PM
    • 3 Posts
    • 0 Thanks
    robusta
    Hi bertiewhite

    In my case I do not live in the UK anymore. I left the UK more than 8 years ago. Did not close my account. Lloyds TSB put my account dormant since I could not access it online. I finally requested the account closure recently by post.

    I live abroad at the moment in eastern Europe.

    Thanks for your input.

    R
    • badmemory
    • By badmemory 5th Oct 17, 4:33 PM
    • 1,060 Posts
    • 1,123 Thanks
    badmemory
    Hi Cook_County,

    Thanks for your response.

    Are you sure there is no risk if we are not responding to the letter? I received it in France and I am resident abroad. I was thinking of calling and just try to see if this could be sorted by phone.

    R
    Originally posted by robusta
    Please recheck the letter. The original one said that they would report your account to HMRC (the info on which may be sent to USA) and they reserve the right to close your account if they are not satisfied.
    • robusta
    • By robusta 6th Oct 17, 8:02 AM
    • 3 Posts
    • 0 Thanks
    robusta
    Hi Cook_County,


    I will check it again.
    I did not have much left before they deactivated my account (around 50 pound). They can close it for good if they want.
    I requested the closure by post as I could not go there myself. I wanted to finally sort this out after many years

    Thanks.

    R
    • Cook_County
    • By Cook_County 7th Oct 17, 12:01 PM
    • 2,903 Posts
    • 2,072 Thanks
    Cook_County
    Hi Cook_County,

    Thanks for your response.

    Are you sure there is no risk if we are not responding to the letter? I received it in France and I am resident abroad. I was thinking of calling and just try to see if this could be sorted by phone.

    R
    Originally posted by robusta
    France I believe requires declaration of non-French bank accounts; this might be a legal obligation for you.
    • jedi_jen
    • By jedi_jen 30th Nov 17, 11:25 AM
    • 2 Posts
    • 0 Thanks
    jedi_jen
    Same Letter from Barclays
    Hi,

    Ive recieved the same letter from Barclays which i thought was really odd considering that I dont bank with Barclays. Turns out its because i downloaded a pingit app years ago.
    Anyway I rang them and they cant find my details anywhere on their system so I said well then there's no reason for me to respond to your letter if you don't have me as an account holder to which I was told (by the counter fraud team) that I should still respond to the letter asking for all my personal details that was sent to an address that is apparently not on their system. - I don't actually think the letter is fraudulent but given that they cant actually see the letter it's pretty weird advice for a counter fraud person to be giving.

    Anyway I asked for clarification as to whether I has a legal obligation to respond to letter, acknowledging that I am fully comfortable with them passing any information that they have on me to the tax authorities because I am 100% certain that the single transaction I have ever used the app for (which was about a tenner by the way) was not taxable income - it was a friend sending me money because we'd gone out for dinner and id put the whole thing on my card and she had sent me her share via pingit.

    Anyway I cant see the tax authorities wasting time on that one transaction, however what I would like to know is was the person from Barclays giving me false information when she told me a I had a personal legal liability to respond to that letter?
    • 00ec25
    • By 00ec25 30th Nov 17, 12:57 PM
    • 5,566 Posts
    • 4,972 Thanks
    00ec25
    Anyway I cant see the tax authorities wasting time on that one transaction, however what I would like to know is was the person from Barclays giving me false information when she told me a I had a personal legal liability to respond to that letter?
    Originally posted by jedi_jen
    there is a very much longer thread it's a shame your search didn't pick up which discusses all possible nuances of this USA derived "requirement"

    http://forums.moneysavingexpert.com/showthread.php?t=5440564
    • jedi_jen
    • By jedi_jen 30th Nov 17, 2:38 PM
    • 2 Posts
    • 0 Thanks
    jedi_jen
    Thanks, no this hadn't come up when I was looking.
    • badmemory
    • By badmemory 30th Nov 17, 8:30 PM
    • 1,060 Posts
    • 1,123 Thanks
    badmemory
    The worst they can do is report you to HMRC as not knowing your tax residency. It is only supposed to apply to account holders. Well maybe the worst they could do is say you can't have an account with them, but I'm not sure that would be much of a punishment as you would have to wonder where they got there information from in the first place.
    • beckysheffield
    • By beckysheffield 2nd Dec 17, 4:18 PM
    • 15 Posts
    • 1 Thanks
    beckysheffield
    Legit. I've got one and I live abroad.
    • sheramber
    • By sheramber 2nd Dec 17, 7:28 PM
    • 3,992 Posts
    • 2,967 Thanks
    sheramber
    The worst they can do is report you to HMRC as not knowing your tax residency. It is only supposed to apply to account holders. Well maybe the worst they could do is say you can't have an account with them, but I'm not sure that would be much of a punishment as you would have to wonder where they got there information from in the first place.
    Originally posted by badmemory
    The 'relevant tax authorities' are not HMRC. They are the IRS. - Internal Revenue Service of the USA
    • badmemory
    • By badmemory 3rd Dec 17, 12:11 AM
    • 1,060 Posts
    • 1,123 Thanks
    badmemory
    It is HMRC who then report you to the IRS as has been agreed. Well that's what MY letter said. It may well be that they have changed then letter since then, presumably so not so many people think they are fraudulent. At least the bank customer service seem to have heard about them now which they didn't March 2016 when I got mine.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,725Posts Today

6,873Users online

Martin's Twitter
  • Have a lovely weekend folks. Don't do anything (fiscally) that I wouldn't do!

  • RT @thismorning: With his last deals of the year, @MartinSLewis wishes us all a 'very merry Christmas, a happy Hanukkah and a wonderful and?

  • RT @stoneygran: @MartinSLewis I furtively used a pub toilet last night before getting on the bus and felt really guilty!

  • Follow Martin