Revolut - Tax Residency

AFC · Post by **AFC** » Tue 18 May 2021 9:04 pm

I recently opened an account and just now received a message asking for my Tax Residency.

Has anyone else been asked for this?

come_on_aylin · Post by **come_on_aylin** » Wed 19 May 2021 9:57 am

A friend has been asked this - her main address is in Germany. I assumed that's why we hadn't been asked because the address used for our Revolut cards is a UK one. I have been asked previously to verify my identity via the app.

Trigger · Post by **Trigger** » Wed 19 May 2021 10:25 am

I thought you could only get Revolut if you had a UK address?

AFC · Post by **AFC** » Wed 19 May 2021 10:34 am

Its a European Bank only atm, HQ in Lithuania. Open to all of the EU and the UK. Was just curious as to why I was being asked this.

benjaminbutton · Post by **benjaminbutton** » Wed 19 May 2021 12:27 pm

Maybe Revolut want/need to know if you are a UK tax payer? Just a thought.

Mr Chinnery · Post by **Mr Chinnery** » Wed 19 May 2021 1:54 pm

All uk banks should ask this question as it’s a HMRC requirement.
It’s a way of HMRC checking up on individuals. So if you say you are UK tax resident and there is no record of you submitting tax return or paying your tax on savings or income tax HMRC will want to know why.
It’s the same with banks informing HMRC when individuals make any transactions of £10000 through the bank.