Switched back to Halifax - Tax Residency Self Certification

CeePeeBee

Hi all

I've recently switched back to Halifax from HSBC for my current account. I held a number of savings accounts with them from a previous stint with them, and decided to move back.  However this time I've been sent 2 letters entitled Tax Residency Self Certification. This seems to relate to identifying self certifying tax individuals/sole traders. I pay tax via my employers/ PAYE, don't have my own business and never have so half of the questions (what is a TIM?) don't seem relevant.

Had this happened to any others who aren't sole traders/business owners?

NottinghamKnight

It's to determine whether you are tax resident in another country than the UK, primarily the US. It's something that is sent out and isn't related to self employment, TIM is I believe an american term and the closest UK equivalent would be your national insurance number. 

CeePeeBee

Turns out Halifax want me to go into branch, so they can setup a telephone conversation with me at a later date - what is wrong with some companies....

[Deleted User]

NottinghamKnight said:

It's to determine whether you are tax resident in another country than the UK, primarily the US. It's something that is sent out and isn't related to self employment, TIM is I believe an american term and the closest UK equivalent would be your national insurance number. 

It's a international term - Taxpayer Identification Number (TIN) you can use your HMRC reference or NINO here

NottinghamKnight

It's all FATCA to me.

Tragen

CeePeeBee said:

Turns out Halifax want me to go into branch, so they can setup a telephone conversation with me at a later date - what is wrong with some companies....

They are just doing what is required of them to meet banking regulations, it's not unique to Halifax. How they handle it though, it does seem antiquated. I had it with Starling recently, I just had to tick a box to confirm.

PRAISETHESUN

As above, it's all down to foreign tax reporting obligations - pretty much every time I apply for a new account I get asked for my UTR/NINO and foreign TIN during the application process, even though I state that I am only a tax resident in the UK (I've lived outside of my home country long enough that I don't qualify as a tax resident there anymore). I hold a few LBG accounts (including an account with Halifax) and I've never had to re-confirm my tax residency after my initial application however, and they've never asked for proof either - so what you're describing sounds odd to me.

NottinghamKnight

I've only ever been asked that question for investment accounts, not a bank account as far as I can recall. I am British, no other domicile or tax affairs elsewhere though I have worked abroad, currently all UK based.