Taxpayer Identification Number required by bank

colsten

Chino wrote: »

Well, based on the Which link you posted, your claim that:

seems to be fallacious because it appears that HMRC only issues UTRs to those having to complete a self assessment tax return and not simply to anyone wanting what you refer to as a "TIN".

I said if you need your TIN - you would clearly only ask for it for a good reason, and HMRC would be the only place to get it from. Therefore you would ask the HMRC.

colsten

MDMD wrote: »

..... but also because some vehicles like partnerships don’t have a NINO but as the partners need to be linked to it, it was probably more straightforward to have them all using a number with the same format.

yes, that makes perfect sense

JosephK

Realise it's a step in preventing tax evasion worldwide but I don't think that will be achieved by querying my OH's few hundred in a bank we've been with for years and who have full up to date details. Seems more like lazily directed targeting, maybe bank's computer algorithms need revising to pick out more difficult targets.

Thrugelmir

JosephK wrote: »

Realise it's a step in preventing tax evasion worldwide but I don't think that will be achieved by querying my OH's few hundred in a bank we've been with for years and who have full up to date details. Seems more like lazily directed targeting, maybe bank's computer algorithms need revising to pick out more difficult targets.

More often or not. It's those you least expect are the crooked ones.

JosephK

As an ex-auditor, I know but I don't think the zero tax on about £40pa interest worth avoiding

colsten

JosephK wrote: »

Realise it's a step in preventing tax evasion worldwide but I don't think that will be achieved by querying my OH's few hundred in a bank we've been with for years and who have full up to date details. Seems more like lazily directed targeting, maybe bank's computer algorithms need revising to pick out more difficult targets.

Your OH isn't being targeted by anyone if she gets asked for a TIN. In any case, she can just give her NI number as her TIN.

JosephK

As said in OP, know NI no can be used. It just strikes me as odd that the banks are asking about minimal accounts but not more significant ones. Don't suppose for one minute she is being picked on out of millions of customers (but then again :eek:)

meer53

JosephK wrote: »

Realise it's a step in preventing tax evasion worldwide but I don't think that will be achieved by querying my OH's few hundred in a bank we've been with for years and who have full up to date details. Seems more like lazily directed targeting, maybe bank's computer algorithms need revising to pick out more difficult targets.

They're not querying the amount your OH has in the bank, they're asking for information they don't currently hold ie. a NINO. Years ago this wasn't required but now it is, why not just give them it ?

Why do you think your OH should be different from all the other account holders ? Unless they have something to hide ?

SonOf

JosephK wrote: »

As said in OP, know NI no can be used. It just strikes me as odd that the banks are asking about minimal accounts but not more significant ones. Don't suppose for one minute she is being picked on out of millions of customers (but then again :eek:)

What evidence do you have that they are not asking on "more significant ones"?

As someone who is required to follow the AML rules and had to deal with FATCA etc, the method is a mixture of risk-based analysis, product type, transaction type and frequency, knowledge of the source of funds, residency and domicile and sometimes. Often we can grab the information we need within routine conversations that the individual doesn't realise we are asking. Or we have documentation on file already that answers the questions. Other times, we have to issue a letter to get information. I have two to issue this week out of 5 that were on our list. The other three had sufficient info to answer it without going to them.

There is no conspiracy as to why someone is chosen.

JosephK

Seems some folk are reading more into my OP than was ever there, as said it was just idle curiosity. This particular bank do already have requested details whereas couple of places we have larger savings haven't asked. Oh, and the info requested has been sent off few days ago to confirm what they already know so I guess they are now happy.