Tax residency update in the app

This morning you may receive a notification in the app, and via email, that we are again collecting updated Tax Residency information, as required by law.

It is a requirement that we report certain details to HMRC, particularly if customers have more complex tax residency details by paying tax in other countries rather than just in the UK.

We have added this field to the profile information in the app, and taken this opportunity to enhance this section.

If you click on the avatar (person icon) in the top left of your screen, then click on the > next to your name & mobile number, you will now be able to confirm what details we hold on you including; names, mobile, email, address and postcode. This is important in case you have moved and maybe not let us know.

You can’t yet edit these in the app, but you can at least confirm them and know if they are up to date. If you need to update these, let us know via the in-app chat.

Below this you will be able to enter, and update, your Tax Residency details, including adding more than one country.

If we don’t have this information, or it has not been updated in the last 12 months for any reason, you will be prompted to enter it the next time you open your app. If you are a UK tax payer only, as most of us are, this should only be 2 taps!

However, to make sure you have the version of the app that collects this information, you will need to update your app to the latest version in the app stores (1.15.3), so you will be prompted to do so next time you log in.

If you have any further questions, please feel free to ask here and I’ll do my best to answer.

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Is this something to do with Dozen’s not being a fully licensed bank?
I don’t think any of my banks have asked me to re-confirm my tax residency every 12 months.

I think three of mine have…. Both established and newcomers…

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No, this is not about the banking licence - all financial organisations need to report to HMRC (as @Robertiwills has mentioned).

I guess those organisations may feel they have enough other information on you, including historic info, to be confident about reporting tax residency information. However, as people’s lives change, particularly with the ongoing pandemic and maybe individuals moving to other countries or changing working practices, we feel it is important to ensure the data we report is as accurate as possible, so we are asking everyone to confirm this.

It is also the case that as we’ve added this field to the app, for some existing customers it might be the first time they can check and update their full details.

If customers maintain their personal details (including address, etc) and confirm tax residency this way during the year, then we may not need to prompt again next year, but you may still see gentle reminders from time to time :slight_smile:

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Natwest has never asked me, but I’ve had an account with them since I was a teenager.

Halifax asked me the same year I opened an account, then never again. It was on PAPER

When it comes to Revolut, I swear there’s some kind of employee bonus for asking! All the time

I like the question on app launch - nice and quick. Got the notification and email after I’d done it, but minor point. I’d like it to be “Please reconfirm tax residency” after the first time. Less mental load. So no drop downs unless you tapped something like “My tax residency has changed”.

Utter FATCA nonsense though. If I had big money to launder, dozens is hardly the place to start. Just call Deutsche Bank…

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Now, if only the app didn’t ask for my NI number each time I want to bid for bonds!

It doesn’t change, honestly :slight_smile:

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