I have several fixed rate accounts in the UK with one bank. Do I need to list each account with opening dates etc or can I just give the overall feeder account details? This form is a real pain to complete, so I’m looking for an easy option.
Each account has to be declared on its on form.
I had a horrible feeling that this was the case.
I handed them 42 3916s last year. I think I cut it down under 30 this year.
I think mine plus my husbands will get close to that.
Sometimes I’m glad I don’t have much money
Individually, but if you declared online then they should rollover to this year.
I found a website of a financial advice company on line. Reading their information, it suggested that it isn’t necessary to declare fixed term deposits individually in 3916, is the main account of the same bank is enough? Any thoughts?
And if someone has a current and savings account with the same bank, is it necessary to declare both, or one is enough?
Sorry, it’s a similar question to the one above, but more replies would be welcome.
Now, this is the position I’m in. Each year my fixed terms end and I have to open another account, with the same bank, so I’m having to list the last account as closed and then the new account has to be opened because it’s a new account number. It’s a real pain.
That’s my situation too Shunt, but it may not even be necessary to declare them if the main account of the same bank is declared. That’s what I want to know.
Put simply, is one account per bank enough to declare or each seperate account needs to be declared, even in same bank?
I have an NS&I account plus various NS&I bonds which mature once a year and are replaced by new ones. I must say I declare all of them, though it is indeed a right pain in the a*s.
It is all accounts.
Unless it comes from impôts.gouv I would place no reliance on it.And I think their instructions are quite clear:
Une déclaration doit être souscrite pour chacun des comptes, contrats et placements concernés.
That takes 20 minutes or so to fix.
However the way I imagine things to work, it would be the account number that is crucial.
I may be completely wrong but I imagine the famous “information sharing” to consist of account numbers and account holder details made available by the country where the accounts are held. Call this list A. I imagine the French authorities compîling their own list of declared account numbers and account holder details. Call this list B. Then I imagine the French authorities accessing list A and extracting from it all the entries connected to individuals known to be French taxpayers. Then out of that list, validating all the account numbers that appear non list B. And whatever remains on list A, would be undeclared accounts held by French taxpayers that they may or may not decide to investigate at some point.
I may be way off beam but this is how I have always imagined the information sharing to work.
Thanks, so you think that if even 1 digit of an account number is different from another account, then it should be considered as another account and declared as another account, never mind that it’s the same bank etc?
I’m afraid so.
OK, Thanks. So it seems that everybody agrees that every account of every type needs to be declared seperately, even associated accounts in the same bank, all fixed term deposits even if they are only 6 month placements, everything. So the article that I read online of a financial advice company is probably wrong when they said fixed term deposits are associated accounts and don’t need to be declared.
A fixed term deposit that has terminated during 2024, but then re-invested in another fixed term deposit with the exact same account number needs to be declared terminated and then listed again as a new account??
If it has exactly the same account number, then to my mind, it is the same account. So no, I personally would not bother declaring it closed and then listing it again as a new account.
I have savings bonds but when these mature and I roll them over into new bonds, the numbers change.
Your reply is logical Helenochka, thanks. But it was listed initially with a finish date that was in 2024. So if we really want to do things correctly it should perhaps be declared closed and re-declared as a new account with a finish date beyond 2024?