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Bank's Tax Compliance form - clueless!

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    Bank's Tax Compliance form - clueless!

    Sorted out Section I & II - but Section III make absolutely no sense to me.

    At all.

    Anyone out there who could give me a clue? I don't want to accidentally make it look like I'm a dodgy trust or some thing...

    (And I've read the accompanying guidance notes - no fecking help whatsoever).

    "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
    - Voltaire/Benjamin Franklin/Anne Frank...

    #2
    Originally posted by cojak View Post
    Sorted out Section I & II - but Section III make absolutely no sense to me.

    At all.

    Anyone out there who could give me a clue? I don't want to accidentally make it look like I'm a dodgy trust or some thing...

    (And I've read the accompanying guidance notes - no fecking help whatsoever).

    FATCA compliance form by any chance?

    Comment


      #3
      Yuck. We've loosely helped a few clients few these. Very frustrating as it seems the bank send out the forms, refuse to give any advice, saying it's the company's tax adviser's responsibility to assist. Doesn't help that it doesn't use any terminology your average accountant/tax adviser would come across anywhere else!

      You don't say what's in section III? If it helps, I think your typical business would count as an "Active NFFE". Ie you're trading, so active rather than passive, and you're a non financial institution (not a bank/insurance company).

      If section III is about something else, give us a clue!

      Comment


        #4
        I thought all banks did this.

        It seems it’s only bloody Barclays.

        https://www.home.barclays/content/da...tification.pdf
        "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
        - Voltaire/Benjamin Franklin/Anne Frank...

        Comment


          #5
          And before NLUK says it, I’ll speak to my accountant tomorrow. I just thought that the form was more straightforward than it turned out.
          "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
          - Voltaire/Benjamin Franklin/Anne Frank...

          Comment


            #6
            Originally posted by Maslins View Post
            Yuck. We've loosely helped a few clients few these. Very frustrating as it seems the bank send out the forms, refuse to give any advice, saying it's the company's tax adviser's responsibility to assist. Doesn't help that it doesn't use any terminology your average accountant/tax adviser would come across anywhere else!

            You don't say what's in section III? If it helps, I think your typical business would count as an "Active NFFE". Ie you're trading, so active rather than passive, and you're a non financial institution (not a bank/insurance company).

            If section III is about something else, give us a clue!
            Btw, ta Maslins...
            "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
            - Voltaire/Benjamin Franklin/Anne Frank...

            Comment


              #7
              Originally posted by cojak View Post
              I thought all banks did this.

              It seems it’s only bloody Barclays.

              https://www.home.barclays/content/da...tification.pdf
              I’ve got two on my desk at the moment. One from RBS and one from Santander. So def not just Barclays.

              Comment


                #8
                Originally posted by Alan @ BroomeAffinity View Post
                I’ve got two on my desk at the moment. One from RBS and one from Santander. So def not just Barclays.
                Ah, right. So not just me then!
                "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
                - Voltaire/Benjamin Franklin/Anne Frank...

                Comment


                  #9
                  Originally posted by cojak View Post
                  And before NLUK says it, I’ll speak to my accountant tomorrow. I just thought that the form was more straightforward than it turned out.
                  Didn't know you still had one so I refrained.. Damn
                  'CUK forum personality of 2011 - Winner - Yes really!!!!

                  Comment


                    #10
                    Originally posted by cojak View Post
                    I thought all banks did this.

                    It seems it’s only bloody Barclays.

                    https://www.home.barclays/content/da...tification.pdf
                    Thank your lucky stars you're not with Lloyds! I had the forms last year (Mrs Bloggs too) and I tried contacting Lloyds every way I could including by Mrs Bloggs in the branch. Nobody could explain to us what the form was, where I sent it to and why we both I had one. I have UK and offshore accounts with them, so I ended up writing a letter to them in the off shore branch explaining mine and Mrs Blogg's tax status and that seemed to suffice. But dealing with Lloyds through the official channels was simply hopeless. FWIW, from what I hear, HSBC seem to be well sorted with regard to onshore/offshore banking in case any here is interested.
                    Public Service Posting by the BBC - Bloggs Bulls**t Corp.
                    Officially CUK certified - Thick as f**k.

                    Comment

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