Under the CRS, we need to identify members who are tax resident in one country but with Financial Accounts held in another for inter-country reporting purposes. To do this we need to collect information from customers and report certain information on any Reportable Persons and Reportable Entities and their Financial Account(s) to the local tax authorities.
Most customers won’t need to do anything as the majority of our members will be identified as resident for tax purposes in the UK and therefore not a Reportable Person or Reportable Entity. However, there will be some customers who, based on the information we hold, we believe to be Reportable Persons or Reportable Entities.
If we feel we need more information we’ll write to you asking you to complete a Tax Residency Self Certification form. In some cases we’ll ask you for a reasonable explanation and/or additional documentary evidence as proof of tax residency. We might also write to you asking you to contact us so we can update the information we hold on you such as your Tax Payer Identification Number (TIN) e.g. National Insurance Number or date of birth.