Paragon Bank - Certificates of Interest

alfista

I have had a number of accounts with Paragon over the last several years (some ISA, some non-ISA).  There appears to be no way of obtaining Certificates of Interest for "closed" accounts (typically these were 1-year saving accounts / bonds).  

Am I missing something here ?

Fatferds12

alfista said:

I have had a number of accounts with Paragon over the last several years (some ISA, some non-ISA).  There appears to be no way of obtaining Certificates of Interest for "closed" accounts (typically these were 1-year saving accounts / bonds).  

Am I missing something here ?

I always send them a message and they reply to say they're sending it and allow 5 working days.  There is also the option to call them on 0800 052 2222.

Barkin

From the Account Summary page, select Closed Accounts, Manage Account, Interest Statement.

I then get options of:

Current Tax Year To Date:
Previous Tax Year:
Custom Interest Statement:

I've held no fixed rate accounts though, so maybe they're different?

alfista

I have now managed to see some figures on the Paragon web site.

However, I still can't reconcile these to figures provided by HMRC - I have spoken to HMRC (a major achievement getting thru to a human !) and am now awaiting something in writing from them.   To be continued...

Hoenir

Why do you need interst certificates for ISA accounts?  The interest isn't taxable. 

Barkin

Hoenir said:

Why do you need interst certificates for ISA accounts?  The interest isn't taxable. 

Read the OP.

Some ISA, some non- ISA...

Not that it really matters - the question was a general one, of finding interest statements for closed accounts.

alfista

Hoenir said:

Why do you need interst certificates for ISA accounts?  The interest isn't taxable. 

You are correct : strictly speaking I need to see the interest certificates for the non-ISA accounts (to try and reconcile to HMRC figures).

alfista

alfista said:

I have now managed to see some figures on the Paragon web site.

However, I still can't reconcile these to figures provided by HMRC - I have spoken to HMRC (a major achievement getting thru to a human !) and am now awaiting something in writing from them.   To be continued...

I have now received some info from HMRC - as an aside the info is not visible on the HMRC web site - why ?

Further discussion with Paragon needed - to be continued.

wmb194

alfista said:

alfista said:

I have now managed to see some figures on the Paragon web site.

However, I still can't reconcile these to figures provided by HMRC - I have spoken to HMRC (a major achievement getting thru to a human !) and am now awaiting something in writing from them.   To be continued...

I have now received some info from HMRC - as an aside the info is not visible on the HMRC web site - why ?

Further discussion with Paragon needed - to be continued.

Years ago for some people these data were visible on HMRC’s website but there were so many errors and so many people spent so much time on the phone to HMRC to adjust the figures HMRC decided to remove them. If you search you might be able to find the old, long thread about it.

alfista

So .... all sorted and explained.

I have discovered three things :

The HMRC web site has changed somewhat over the years and not for the better (they have data which is not shown on the web site).

The HMRC response time to phone calls is truly appalling (20 minutes in my case) - they wouldn't last a day in the commercial world.

If you hold accounts with Paragon Bank they are only visible to you for a year after they are closed i.e. you can't delve back into history .   In their defence, their telephone response to my query was fairly speedy and efficient.

poseidon1

alfista said:

So .... all sorted and explained.

I have discovered three things :

The HMRC web site has changed somewhat over the years and not for the better (they have data which is not shown on the web site).

The HMRC response time to phone calls is truly appalling (20 minutes in my case) - they wouldn't last a day in the commercial world.

If you hold accounts with Paragon Bank they are only visible to you for a year after they are closed i.e. you can't delve back into history .   In their defence, their telephone response to my query was fairly speedy and efficient.

For this reason I always leave  small balances on 'dormant' accounts specifically to be able to access  and download the pdf year end interest certificates for tax reporting purposes. Thereafter, if its an institution I am unlikely to revisit with large deposits I then close it.