Unable to obtain BBSI figures from HMRC

fuzzzzy

Ch1ll1Phlakes said:

poseidon1 said:

Ch1ll1Phlakes said:

dosh37 said:

wmb194 said:

dosh37 said:

I have many savings accounts.

I frequently open and close accounts and move cash around to obtain the best interest rates.

That makes it very difficult to keep track of the interest despite using an Excel spreadsheet.

I need to complete a Self Assessment return for 2024/25.

I wrote to HMRC at the beginning of September asking for a BBSI statement to allow me to reconcile their figures with my own calculations.

The letter I received a few weeks later said this:

I am unable to provide you with the actual BBSI figures. This is because we have not yet received them.

Savings organisations are required to provide the figures to HMRC before the end of June.

HMRC could at least have been more helpful and offered to send the figures as soon as they become available.

What should I do now?

Wait a few weeks and write another letter to HMRC requesting the figures again?

If I still don't receive a statement, should I just guess the total interest and wait for HMRC to either send a bill or provide a refund if my calculations are wrong?

In the past I have found errors in the BBSI statement - they included interest that was actually received (and taxed) in the previous tax year.

In April you had a similar thread. From that one, "Please don't bother to reply telling me it's 'my responsibility to keep track of savings interest.'"

I hate to say it but you should just work through all your statements and add it up yourself. You say you want to reconcile your numbers with what's been submitted to HMRC but how can you do this if you haven't done the work yourself?

https://forums.moneysavingexpert.com/discussion/6600854/file-your-self-assessment-return/p1

I have done the work myself. The Excel spreadsheet gives me a total of all the interest received.

However I am not an accountant or an Excel expert. I am a pensioner, over 70 with poor eyesight.

There is a high probability of error. I know this because I have discovered errors in the past with missing accounts or errors as to when interest is actually available to be withdrawn for accounts that last longer than one year etc.

That's why I need the BBSI figures so I can double check.

The problem is made worse because many online savings organisations do not allow customers to view statements for closed accounts or even to login once all accounts are closed.

Years ago you received a certificate of interest through the post. That is no longer the case.

In my view, HMRC should make BBSI information available on their website.

Most will still send you a record of interest for a tax year if you request it. I had to help my dad do with with RCI Bank.

Shouldn't have to 'request' year end certificates of interest paid from online providers , the certificates are ( in most cases) automatically generated and accessible within the app or the Web account. 

Amongst my 20 various saving accounts, only Kent Reliance are archaic in making savers request certificates and then sending out by mail.

Yes but the OP mentioned not being able to see statements for closed accounts. The request option works in this case.

Coventry for example come to mind in that you lose all access to statements when the account is closed. If I'm incorrect about this let me know as I'd love to access old statements.

But don't Coventry send out absolutely everything you would ever need (and more) by post?

poseidon1

Ch1ll1Phlakes said:

poseidon1 said:

Ch1ll1Phlakes said:

dosh37 said:

wmb194 said:

dosh37 said:

I have many savings accounts.

I frequently open and close accounts and move cash around to obtain the best interest rates.

That makes it very difficult to keep track of the interest despite using an Excel spreadsheet.

I need to complete a Self Assessment return for 2024/25.

I wrote to HMRC at the beginning of September asking for a BBSI statement to allow me to reconcile their figures with my own calculations.

The letter I received a few weeks later said this:

I am unable to provide you with the actual BBSI figures. This is because we have not yet received them.

Savings organisations are required to provide the figures to HMRC before the end of June.

HMRC could at least have been more helpful and offered to send the figures as soon as they become available.

What should I do now?

Wait a few weeks and write another letter to HMRC requesting the figures again?

If I still don't receive a statement, should I just guess the total interest and wait for HMRC to either send a bill or provide a refund if my calculations are wrong?

In the past I have found errors in the BBSI statement - they included interest that was actually received (and taxed) in the previous tax year.

In April you had a similar thread. From that one, "Please don't bother to reply telling me it's 'my responsibility to keep track of savings interest.'"

I hate to say it but you should just work through all your statements and add it up yourself. You say you want to reconcile your numbers with what's been submitted to HMRC but how can you do this if you haven't done the work yourself?

https://forums.moneysavingexpert.com/discussion/6600854/file-your-self-assessment-return/p1

I have done the work myself. The Excel spreadsheet gives me a total of all the interest received.

However I am not an accountant or an Excel expert. I am a pensioner, over 70 with poor eyesight.

There is a high probability of error. I know this because I have discovered errors in the past with missing accounts or errors as to when interest is actually available to be withdrawn for accounts that last longer than one year etc.

That's why I need the BBSI figures so I can double check.

The problem is made worse because many online savings organisations do not allow customers to view statements for closed accounts or even to login once all accounts are closed.

Years ago you received a certificate of interest through the post. That is no longer the case.

In my view, HMRC should make BBSI information available on their website.

Most will still send you a record of interest for a tax year if you request it. I had to help my dad do with with RCI Bank.

Shouldn't have to 'request' year end certificates of interest paid from online providers , the certificates are ( in most cases) automatically generated and accessible within the app or the Web account. 

Amongst my 20 various saving accounts, only Kent Reliance are archaic in making savers request certificates and then sending out by mail.

Yes but the OP mentioned not being able to see statements for closed accounts. The request option works in this case.

Coventry for example come to mind in that you lose all access to statements when the account is closed. If I'm incorrect about this let me know as I'd love to access old statements.

As with @Middle_of_the_Road earlier in this thread I keep dormant accounts open precisely for the purpose of easily accessing certificates online ( 7 of my 20 accounts are now dormant with minimal balances).

I heavily rely on certificates to assist with year end  self assessment since I also have two separate GIA portfolios generating annual divs / interest together with rental income to account for, and more recently state pension.

Making the banks do the heavy lifting on the interest documentation, is a no brainer in my circumstances.