BBSI Untaxed interest list query

slinger2

I see from this: https://www.gov.uk/government/publications/better-use-of-new-and-improved-third-party-data/better-use-of-new-and-improved-third-party-data-to-make-it-easier-to-pay-tax-right-first-time that HMRC will be "mandating suppliers to request, collect and report tax identifiers for matching to taxpayer records — such as National Insurance numbers" from April 2027 (or possibly later). So presumably all the savings providers I deal with will soon be asking for my NI number, if they don't have it already. Probably should have happened when they got rid of tax deduction at source.

masonic

slinger2 said:

I see from this: https://www.gov.uk/government/publications/better-use-of-new-and-improved-third-party-data/better-use-of-new-and-improved-third-party-data-to-make-it-easier-to-pay-tax-right-first-time that HMRC will be "mandating suppliers to request, collect and report tax identifiers for matching to taxpayer records — such as National Insurance numbers" from April 2027 (or possibly later). So presumably all the savings providers I deal with will soon be asking for my NI number, if they don't have it already. Probably should have happened when they got rid of tax deduction at source.

Many already do as they probably saw this coming down the line, but I agree, it is bizarre that this wasn't implemented a long time ago, leaving HMRC to match data using name/address/dob.

badmemory

I have several savings accounts with the same bank & I had to go through all of them confirming all my details for every single account including ones with zero balance that I couldn't delete for some reason & adding my NI No even though they already had my details for my ISAs.  Nothing like dotting all the i's & crossing all the t's.

Mee

Good morning All,

In my original post I stated and asked:

....  in another case the multiple accounts are listed as
1SURNAME
2SURNAME 
etc.

Am I to presume that the BBSs supplied the information in that form?

Well, that institution has replied as follows:

 When we report interest earned to HMRC... We supply the account holder’s full name and full account number - with the product prefix and the first 3 letters of the surname. We cannot control how HMRC store information in their systems, nor how they relay information to customers. 

O.M.G.  

eskbanker

This page explains the data formatting specified by HMRC for BBSI returns:

https://www.gov.uk/guidance/how-to-complete-a-bank-and-building-society-interest-return

Column G is for "account/client’s name or relevant payee’s name" ("the name used by your systems to identify the account or payment") while H is "reported participant’s name", so I'd have thought it more logical to use G for the actual account name in use rather than a codified version of it (if that's what they're doing), but this doesn't actually appear to be mandated as such - the example given for G is the customer name.

But to answer your question, I very much doubt that HMRC will have manipulated anything and will simply be reflecting the data in its supplied form....