Bank Account in Czech Republic under my UK Tax Number

jumperabv3

I have a bank account I opened a long time ago in Czech Republic, I have some savings in that account that I haven't touched, it's gaining interest and I would like to keep the account open as I also believe in the CZK currency for investment purposes.

I informed the bank I moved to a different country, they told me there is no need to update my tax ID and it's best to leave it on my UK ID that I gave them when I opened the account, I would go there physically next month to ensure this information is correct.

In the meantime I wanted to ask - is there any problem that the bank has my UK Tax ID (Unique Tax Payer Reference No.)? I don't live in the UK now, in fact I haven't even visited the UK for several years now, not even for 1 day ... I do report in my current home country the interest in my Czech account to the last penny, so my home country would never (or should never) have a problem with that, but I'm wondering if it's okay that my Czech bank has my UK Tax ID number? Can this create an issue with HMRC in the future? (I do report my annual UK income to HMRC which is only 1 apartment I am renting as I wrote in another topic here).

Would appreciate your feedback.

laticsforlife

It's only an internal reference to the Czech account - if anything the issue would be in the Czech republic, not the UK.

The point of using a tax reference number is so the authorities can know who is earning what interest and connect it with your CZ tax returns.

As there is no chargeable income in the UK (other than your rental income) then it is a CZ issue (I'd get it changed to your CZ tax reference number)

jumperabv3

laticsforlife wrote: »

(I'd get it changed to your CZ tax reference number)

Yes, that's what I tried to do over the phone, I'm getting there next month, so will try to explain it in person, hopefully they will do it.

Thanks.

Ben8282

Are you not just making unnecessary work for yourself? If nothing has been questioned why not just leave things alone as they are?

jumperabv3

Ben8282 wrote: »

Are you not just making unnecessary work for yourself? If nothing has been questioned why not just leave things alone as they are?

Nothing has been questioned for a long time so far, maybe you're right, I will just leave it like that instead of bothering with this. Thanks.