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Asked to confirm tax residency by my bank

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  • Ballard
    Ballard Posts: 2,981 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    edited 28 April 2016 at 9:52AM
    diamonds wrote: »
    Incorrect, they get to trade in USA.

    It's not just the USA. They get to trade. They have to be compliant or they'd lose their license.

    Perhaps you'd rather HSBC went bust. Perhaps you don't have any HSBC shares in your pension and don't mind the UK government paying multiple £75k out to those who hold accounts with them. Perhaps your employer doesn't bank with them.

    (Text removed by MSE Forum Team)
  • DevCoder
    DevCoder Posts: 3,361 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    diamonds wrote: »
    The bank can ask HMRC if it wants the info of your tax status.


    Of your UK tax status, but they still don't have a certificated response from yourself on your tax status..

    I don think you get the whole FATCA/CRS/AEOI thing.
  • Ballard
    Ballard Posts: 2,981 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    diamonds wrote: »
    The bank can ask HMRC if it wants the info of your tax status.

    Don't be like GingerBob. Admit that you weren't aware of the regulations and move on. It's fine not to know this as it is quite specialist and hasn't been publicised.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    diamonds wrote: »
    The bank can ask HMRC if it wants the info of your tax status.

    I think that you are missing one of the salient points of asking for a declaration. Those that protest the most in the main do so for good reason.
  • Goldiegirl
    Goldiegirl Posts: 8,806 Forumite
    Part of the Furniture 1,000 Posts Rampant Recycler Hung up my suit!
    I wouldn't be suprised if all the banks are now going through this process.

    I logged into my Halifax online banking yesterday and was asked to confirm my tax status.

    This seems a reasonable request - I know they don't have this information, as I opened my current account back in 1983, so they couldn't have this information.

    I entered the information, and moved on. It was very simple, really.
    Early retired - 18th December 2014
    If your dreams don't scare you, they're not big enough
  • diamonds
    diamonds Posts: 6,048 Forumite
    Debt-free and Proud!
    Ballard wrote: »
    Don't be like GingerBob. Admit that you weren't aware of the regulations and move on. It's fine not to know this as it is quite specialist and hasn't been publicised.

    Not know? please....nothing to admit. If any bank wants my tax status they can ask HMRC for a spot on confirmed official government status.
    SO... now England its the Scots turn to say dont leave the UK, stay in Europe with us in the UK, dont let the tories fool you like they did us with empty lies... You will be leaving the UK aswell as Europe ;)
  • diamonds
    diamonds Posts: 6,048 Forumite
    Debt-free and Proud!
    Goldiegirl wrote: »
    I wouldn't be suprised if all the banks are now going through this process.

    I logged into my Halifax online banking yesterday and was asked to confirm my tax status.

    This seems a reasonable request - I know they don't have this information, as I opened my current account back in 1983, so they couldn't have this information.

    I entered the information, and moved on. It was very simple, really.

    I never got that yesterday on login, ta :)
    SO... now England its the Scots turn to say dont leave the UK, stay in Europe with us in the UK, dont let the tories fool you like they did us with empty lies... You will be leaving the UK aswell as Europe ;)
  • diamonds
    diamonds Posts: 6,048 Forumite
    Debt-free and Proud!
    Thrugelmir wrote: »
    I think that you are missing one of the salient points of asking for a declaration. Those that protest the most in the main do so for good reason.

    Like the prime minister you mean...



    And banks should ask HMRC, a declaration is nothing verus solid evidence. That is the point. People lie, less likely the average Joe on PAYE.
    SO... now England its the Scots turn to say dont leave the UK, stay in Europe with us in the UK, dont let the tories fool you like they did us with empty lies... You will be leaving the UK aswell as Europe ;)
  • Ballard
    Ballard Posts: 2,981 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    I held off for as long as I could but my ignore list now has a member.
  • meer53
    meer53 Posts: 10,217 Forumite
    Tenth Anniversary 10,000 Posts Combo Breaker
    GingerBob has a protege !
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