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Casperlady

Tax Self Certification Form from HMRC

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HI,

Just a little back ground.  I was a member for years but cant find my original log in.

Have been in Australia for 10 years now so not a new migrant however my query my apply to others.

We keep a small UK bank account at Yorkshire bank, its useful for little gifts and if we do visit back to UK as Im sure many do.

We have received a form from the bank asking us to complete and send back.  The bank say they are required by HMRC to collect this information

and that we are obliged to supply the information.  They provice links about the automatic excahnge of information.

So our situaton is we live and work in australia and declare and pay tax here.  There is no interest on the funds in the UK account which is minimal, but we prefer to keep the account open should we be lucky enough to receive funds in GBP in the future, we can hold the funds and exchange when it suits rather than at the time.

Does anyone know in laymans terms what this form means ? do we have to complete it and what are the implcations if we do or dont ?

 

Thanks in anticipation,

 

 

 

 

 

 

 

 

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We had the same form from our bank a while back and filled it in as being resident in Aus for tax purposes. It was pretty simple and no reason not to. IIRC the letter said if we did not reply, our bank would provide the info to HMRC based on our current address with them (which is in Aus anyways). Like you we use our UK account for things like gifts and so on and thats about it. 

Its now a standard thing they have to do this. I didn't stress too much about it and just filled it in and was done. 

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We had the same form and completed it over the phone and then a confirmation letter of our provided information was sent out to us. We have had to do a few ‘checks and balances’ processes in the past couple of years due to changes in UK banking regulations but we are happy to comply to keep our UK bank account open.

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