Alas I still see all sort of wild things, but “Paste As Plain Text” cures most ills!
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HMRC specifically ask for a National Insurance Number when it comes to ISAs.
Almost everyone over 16 should have one.
People only tend to have a UTR if they are in the self assessment system.
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I’ve seen this twice now, although never had to add my NI number. I’m a U.K. citizen so rather baffled when it happened the second time
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Very well aware of all of this. But, for completeness, any system requesting the tax identification number of a UK tax resident should accept both UTRs and National Insurance numbers.
The clue’s in the thread title. This is nothing to do with citizenship and everything to do with (tax) residency. People are not exempt from international tax information exchange agreements simply because their country of residence and country of citizenship are the same.
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Perhaps if this information is being asked for overseas. Not if it’s being asked for in the UK, especially if they are specifically being asked to collect NI numbers and not a UTR.
Monzo should actually be asking for this information when someone applies for an account or within the first 90 days at the latest.
What does this even mean? Specifically “in the UK”?
If Monzo knew in advance that every Monzo customer was a plain vanilla, born in the UK, not living in another country, never lived in another country, UK national, then they wouldn’t need to be asking this question in the first place. Fortunately for all of us, our world is a little more diverse and complicated than that.
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I had it too a few days ago.
I didn’t get the NI request.
Just got an email from monzo to confirm my tax residency by clicking a blue button. Is this genuine ? When I open the app it doesn’t mention this anywhere
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I have also got this email- I don’t see any reason why I should be asked this so presume it isn’t genuine, but would be keen to get confirmation
Why would you presume that when the link I gave directly above your comment contains a response from Monzo stating otherwise.
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Answers quite literally in the post above, read the post it’s linked to
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I had to do this some time ago. I can’t remember if it was in app, or via email.
In any case, you can just do it in app, if you want. Just search for it in ‘help.’
They are mainly looking out for US citizens who have to pay tax worldwide and this is done by reporting income etc to HMRC who on-report it to the IRS. Banks have no option but to comply with this and people who don’t comply can have their accounts blocked.
The US can demand foreign accounts are closed for their citizens who aren’t completing tax returns even if they haven’t lived in the US since birth.
The U.K. does swap information with other countries as well so not just US.
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It’s doubly ridiculous, as anyone with true criminal intent will just lie, while everyone else is forced to go through this silly rigmarole.
I should look for some stats to see how effective FATCA has been, if at all on this
The whole US taxing people for life just because they were born there even if they left when a week old is ridiculous.
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This is my first time using community - I hadn’t realised that there was a Monzo response
Welcome to the community
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