Hello, can anyone help please? Recieved a letter this morn from my bank, stating that legislation has changed and they understand I am registered for tax in Ireland. So, I have to fill in loads of forms and send them proof I am resident in the UK for tax reasons. I've never lived abroad, or even been to Ireland. Thought it a scam, so called bank. Nope, if I don't fill out the form, they will report me to the relevant tax authorities. Can anyone please explain this to me? Also, my account is a joint account with my DH-always has been. He's not been asked to prove his tax status. Are the bank taking the piss? The operator demanded I send proof. I suggested my bank statement......
You can't just be randomly registered for tax in Ireland , I'm an Irish accountant, you should ask the bank where they are obtaining that information from they may find when they review it that they've linked it to the incorrect account or a similar error.
On the other hand maybe they are making a broad appeal for proof of tax residency in UK based on trying to comply with some new legislation and have just worded it very badly
Thanks for your thoughts, especially @weshouldopenabar
I did ask the bank where they pulled this information from, she just blustered on about new legislation. I could understand that, but why not DH as well? Its very badly worded!
not sure what to do with it-currently thinking just to ignore it (I MUST reply by Jan 2018). If all they're going to do is report me to HMRC, crack on. Nothing to report there! Or am I being naive? Got enough on my plate without having to jump through hoops!
I would be more worried about the bank closing your account for non compliance with what I assume is some sort of anti money laundering legislation , they can close it for this. It doesn't sound like a hmrc matter necessarily,id ring the bank and try and find someone who can tell you the actual issue, if they ring back ask to be immediately escalated to their manager and ask them to explain from start to finish what the issue is.
I opened an account with Lloyds Banking group a few months ago and had a similar letter from them recently. They wanted to know which country i reside in for tax purposes and my NI number - all info which was on the Account opening form (i checked my copy). Was easier just to give info again than argue with them tbh.
DH and I both have Irish and British accounts - he's had this lately from his banks on both sides of the border, so it is potentially legit. He called into the branches with the info rather than posting it off. I'm guessing they have your NINO wrong or something and they're linking you with someone else's details. Which isn't great.
My DH had similar experience - was asked by his bank (customer for 40 years) to confirm he was not a US taxpayer. AFter a lot of questions, turned out that at some point when he'd opened some kind of savings account, the person in the branch doing it had clicked on the wrong box in the drop down menu - should have clicked on UK but did US instead! So not necessarily sinister - although you would be advised to ask bank to investigate. DH had to go in with paperwork to a branch to get it sorted finally.
Thanks for your thoughts, that's cool. I don't think they'll close my account, if they do I'll just start using my Lloyds account again. I have emailed a complaint today asking them where they got their info from and requesting a call back. I've had the account 5 years and sent them my marriage certificate last year to name change. So they've seen my docs. I'll be popping into local branch tomorrow too I think. Think I'd far rather show docs etc in branch. My work use same bank as me, someone tried to scam us yesterday. Am definitely wary!
I have had a similar letter recently. I too thought it was a scam so contacted my Financial Advisor (after unsuccessfully Googling the issue!). It transpired that this was a legitimate request - I had researched the law myself - and came about because an investment I had drawn some money from was based in Ireland and in order not to be liable to income tax on it in Ireland I had to establish that I was a resident in England. Hope this helps.
The irony is I dont have a lot of money, or secret accounts or cash stashed in Swiss bank accounts. I have this account and one with Lloyds and thats it. No 'investments' or a spare thousand to earn me interest. Nothing like that. I have an ISA saving account with the bank who are requesting this info, but it was less than £2000 and is currently empty as it was my Dad's money. I'm hoping to get a chance to go into my branch today and close said ISA and hopefully sort it. I did raise a complaint with them, I missed the callback though. What a waste of time though. i do feel like saying right, report me to hmrc, I've literally nothing to hide!
This will be legit. There is new legislation from January. Rightly or wrongly there will be something on their system somewhere that says Ireland so they need to confirm if this is correct or not because if it is they will require additional information to be able to transact for you in the future