CRS tax letter fromm lloyds.

Zanderman

ajbell wrote: »

I would rather close my accounts than answer pointless questions.
In the last hour I have received legal advice from someone involved in tax law and it's quite true that lloyds are obliged to ask but I am not obliged to answer.
They can't close my account but can refer me to HMRC.

So it's not a pointless question, as you've just acknowledged. They have to ask.

And they can just close your account.

Just fill in the form, what on earth is your problem?

born_again

ajbell wrote: »

I would rather close my accounts than answer pointless questions.
In the last hour I have received legal advice from someone involved in tax law and it's quite true that lloyds are obliged to ask but I am not obliged to answer.
They can't close my account but can refer me to HMRC.

But they can restrict your account.
I know banks that stop people from withdrawing more than £50 at atm a day. If that fails then account is frozen until they respond.
After so long then it will be closed.
You can complain all you like & go to FOS.
It will get you no where.
Google FATCA. We even have to monitor for tax evasion for USA and other countries...

You think you had it bad. A lot of our employee's were checked just the same, as they held accounts. Many had been working here for 20+ years.....:rotfl:
Yet we were all checked before we joined

KYC is a on going thing and regulator loves to bring up new hoops to jump through :eek:

Ballard

I do enjoy these threads. A bank asks for information in order that they can comply with the tax authorities requirements but someone finds it intrusive and says that they’re going to refuse to comply.

Go for it. You’ll show them.

ajbell

Ok, just spoke to Lloyds and they have not sent me any letter and say do not fill it in.

colsten

ajbell wrote: »

Ok, just spoke to Lloyds and they have not sent me any letter and say do not fill it in.

:rotfl::rotfl::rotfl:

Zanderman

ajbell wrote: »

Ok, just spoke to Lloyds and they have not sent me any letter and say do not fill it in.

And you believe the customer services person on the phone (a notoriously dodgy source of advice in all banks) rather than the physical letter from Lloyds asking for info that, as many have pointed out, Lloyds are obliged to ask you for?

I think this thread just jumped the shark.

ajbell

Will take the letter in to my local branch tomorrow.

ajbell

Just got home and looked at the lloyds desktop website and in the settings it states already country of tax residence UK.

castle96

Who dares, wins. NOT!

colsten

born_again wrote: »

You think you had it bad. A lot of our employee's were checked just the same, as they held accounts. Many had been working here for 20+ years.....:rotfl:
Yet we were all checked before we joined

There's just an outside chance that a person's tax residency might change over a period of 20 years, is there not? Working for the same employer for 20 years doesn't mean that you couldn't also acquire tax responsibilities in a different country. Nor does an employer know whether their employee might also be liable for tax in a different country. It's a different matter whether asking all account holders is the best way to register any change in tax residency but that's how it works currently, and it really isn't any skin off anyone's back to confirm their current status.