Bank wants information to send to HMRC

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Essjay1994
Essjay1994 Posts: 1 Newbie
in Budgeting & bank accounts
My UK bank has written to ask me for information including my NI number and personal information, so that they can send it to HMRC.
This is because I currently live overseas.
I get that they are obliged to tell HMRC of any customers that live overseas, to assist with identifying those who might be trying to avoid paying taxes, and I see no reason why they shouldn't share the information that they do have on me (which includes my overseas address).
However, I am concerned about sending them any more personal information than I have to - far too many banks have been hacked. On what authority are they collecting this information?

I have a Government Gateway Account, and I already submit details to HMRC, pay my NI payments etc, so its not as if I am hiding.

Am I obliged to provide additional personal information to my bank?

Comments

  • agrinnall
    agrinnall Posts: 23,344 Forumite
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    Essjay1994 wrote: »
    Am I obliged to provide additional personal information to my bank?

    Whether you are obliged to or not, if you don't do it I think you might well find that your account will be closed.
  • spadoosh
    spadoosh Posts: 8,732 Forumite
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    Concerned about your NINO being hacked through your bank yet happy to let them handle your money? Id struggle to give them that reason with a straight face.
  • meer53
    meer53 Posts: 10,217 Forumite
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    You're not obliged to give them any info, just like they're not obliged to provide you with a bank account.
  • 18cc
    18cc Posts: 2,120 Forumite
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    As others have said it is straightforward to contact your bank and tell them you are not providing the info and ask them to close the account.
  • Flobberchops
    Flobberchops Posts: 1,279 Forumite
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    All banks are now required to collect this information under the Common Reporting Standard legislation, so you're not being singled out and it isn't just your bank doing this. As mentioned above, if you don't trust your bank with your NINO, why on Earth are you letting them look after your money?
    : )
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    18cc wrote: »
    As others have said it is straightforward to contact your bank and tell them you are not providing the info and ask them to close the account.

    The problem then will be that the new bank will require the same details :D
  • TheBanker
    TheBanker Posts: 1,820 Forumite
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    jonesMUFCforever wrote: »
    The problem then will be that the new bank will require the same details :D

    The bigger problem will be that, unless the balances are significant, the new bank may well simply decline to open an account for a non UK resident. My bank will allow existing customers who move off-shore to keep their accounts, but will only open new accounts for off-shore residents via the off-shore branch which requires a minimum balance of £250k.
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