KENT RELIANCE personal data harvesting: am I married to the M*f*a???

antrobus

Plus wrote: »

...They didn't ask for it, but I'm not so worried about telling savings providers my NI number: now they're paying interest with no tax deducted, I suspect HMRC is going to want them to report that and the NI number is the key to doing so. ....

Banks already report the amounts of interest paid to HMRC, and have done so for a number of years. They used to be called Type 17 returns, they are now called BBSI returns. NINO isn't reportable.

bowlhead99

antrobus wrote: »

Banks already report the amounts of interest paid to HMRC, and have done so for a number of years. They used to be called Type 17 returns, they are now called BBSI returns. NINO isn't reportable.

It's true, the current BBSI return doesn't require it even though HMRC are allowed to collect it from banks under the Data Gathering Powers (Relevant Data) Regulations.

The old EU Savings Directive is being dropped in favour of the new EU Directive on Administrative Cooperation in tax matters (implementing the OECD's "Common Reporting Standard" - CRS). These regulations are effective for the calendar year starting 1/1/16 for first reporting in 2017. As shown on page 78 of the pdf draft guidance notes published last year (https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/461418/Guidance_Notes_for_the_Automatic_Exchange_of_Financial_Account_Information.pdf), new accountholders of financial institutions should be certifying their tax residence and tax ID, to support potential future reporting.

It is very likely that as HMRC's demand for reliable data grows and banks are collecing all this information to meet all the regulations, banks will eventually start reporting NINos in the future evolution of BBSI returns alongside (or even in the same document as) their CRS returns.

Seems Kent Reliance are sensibly gearing up for the new regime and Virgin are not. As mentioned by someone above, much of Virgin's Money operation grew from taking over Northern Rock's business. NR was a business with antiquated systems and a business plan stuck in the past which did not react to what was going on in the market and basically imploded causing its owners to lose all their money and the remnants of the bank sold on and rebranded.

So, the OP can laud Virgin as the pinnacle of efficient service and say it is much better to dump Kent Reliance because they don't want their national insurance number being 'bandied about' or 'be floating about in the ether' and Virgin doesn't ask for national insurance number so Virgin must be better. But it is naive IMHO.

antrobus

bowlhead99 wrote: »

It's true, the current BBSI return doesn't require it even though HMRC are allowed to collect it from banks under the Data Gathering Powers (Relevant Data) Regulations. ....

That's what I understand is the case. HMRC currently have the power to ask for NINOs, but have chosen not to do so.

bowlhead99 wrote: »

...It is very likely that as HMRC's demand for reliable data grows and banks are collecing all this information to meet all the regulations, banks will eventually start reporting NINos in the future evolution of BBSI returns alongside (or even in the same document as) their CRS returns.....

It would make perfect sense to use NINOs to identify taxpayers, and thus the time may well come when HMRC start asking for them, before making them a requirement. Kent Reliance may well just be thinking ahead of the game.

sheramber

My husband checked his credit report on Experian and found out they had him as not on the electoral role. He was and is on the electoral role, had been at this address for 9 years and always got a polling card to vote.
The registrar agreed he was on the role and sent him a letter to confirm this. Experian then updated his credit report.

zolablue25

bowlhead99 wrote: »

So, they're stuck in the dark ages while other more modern and forward-thinking financial institutions are moving on and following newer regulations. Is that a good thing?

I've seen this "requirement" for NI numbers bandied about on this forum before. I have recently opened an M&S, Santander and TSB account and none of them required my NI number. I'm beginning to think that those that don't require it and are "Stuck in the dark ages" are, in fact, in the majority.

bowlhead99

zolablue25 wrote: »

I have recently opened an M&S, Santander and TSB account and none of them required my NI number. I'm beginning to think that those that don't require it and are "Stuck in the dark ages" are, in fact, in the majority.

Correct. When new regulations first get announced or reasonably anticipated, close to 100% of the people are not following them. Then, people start to look forward, and adopt them. At that moment, the majority are "stuck in the dark ages". Eventually, those who were stuck in the past, catch up to the best practices that the others had begun to follow.

You probably remember when TV channels were broadcasting programs in 4:3 instead of widescreen. BBC had the public service remit to upgrade their technology without risking annoying advertisers, and so didn't wait for 90% of the audience to upgrade their square TVs; while ITV and the advertising funded satellite channels were "stuck in the past" and only eventually followed suit as Sky with its imported US shows started pushing it as the next big thing, and now they all have it because they would look stupid if they didn't.

It doesn't mean the BBC was stupid and unfriendly for moving first, any more than Kent Reliance are stupid and unnecessarily awkward for moving to the new regime when the draft regulations tell them to, rather than waiting for a regulator to give them a kick.

Similarly when "the majority" were "stuck in the past" with fax, the forward thinkers moved to email. The majority were stuck in the past on dial up while the leaders moved to ADSL or cable broadband. The majority didn't wear seatbelts on the day the rule flipped to say you had to use them if fitted. Over time they realised they were stuck in the past, even though they'd started off being a majority. Some people still can't be bothered when they dive into the back of a cab for a short journey, but this is because they are lazy and stuck in the past, not because they are forward thinking and have it right.