Frequently Asked Questions

Why do you need more information about my tax obligations?

The UK Government has entered into agreements with other, international governments known as ‘Automatic Exchange of Information’. The aim of the agreements is to identify whether financial accounts kept outside a customer’s country of citizenship or residency are taxable.

Financial institutions like Clydesdale Bank must tell HM Revenue & Customs about customers with tax citizenship and/or residencies in countries outside the UK covered by these agreements. We must also report any financial accounts held by those customers. HM Revenue& Customs will, in turn, report that information to their non-UK equivalent where relevant.

All of that means we are changing the way we capture customer tax information.

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