Santander UK now require a copy of Modelo 720
Aug 7th 2018, 12:44 pm
#1
Retired and loving it!
Thread Starter
Joined: Sep 2007
Location: Ontinyent - Valencia region (campo)
Posts: 5,160
Santander UK now require a copy of Modelo 720
Surely this can't be correct? How can a random bank in UK require me to disclose all my assets to them?
I can understand if they want to check if I am legally paying tax somewhere but 720 is NOTHING to do with tax.
Anyone else come across this?
I can understand if they want to check if I am legally paying tax somewhere but 720 is NOTHING to do with tax.
Anyone else come across this?
Aug 7th 2018, 1:01 pm
#2
BE Forum Addict
Joined: Aug 2009
Location: Costa Blanca
Posts: 3,143
Re: Santander UK now require a copy of Modelo 720
I totally agree with you, surely the 720 was introduced by the Spanish to track where all the black money (made in the boom years) went and has nothing to do with a UK bank which operates under different rules. Lloyds UK have never asked me for a 720! Keep us posted.
Aug 7th 2018, 1:05 pm
#3
Retired and loving it!
Thread Starter
Joined: Sep 2007
Location: Ontinyent - Valencia region (campo)
Posts: 5,160
Re: Santander UK now require a copy of Modelo 720
I rang them and argued the point.
The gentleman stated it was for tax purposes! I explained, quite calmly for me I thought, that modelo 720 has NOTHING to do with tax but is purely an asset declaration. Rudely I asked if he also wanted to know what I had for breakfast and what I was planning to do this w/e.
Anyway, he has now agreed to have me fill in a "Tax Compliance Attestation" form - which I am more than happy to do.
The gentleman stated it was for tax purposes! I explained, quite calmly for me I thought, that modelo 720 has NOTHING to do with tax but is purely an asset declaration. Rudely I asked if he also wanted to know what I had for breakfast and what I was planning to do this w/e.
Anyway, he has now agreed to have me fill in a "Tax Compliance Attestation" form - which I am more than happy to do.
Aug 7th 2018, 1:08 pm
#4
BE Forum Addict
Joined: Aug 2009
Location: Costa Blanca
Posts: 3,143
Re: Santander UK now require a copy of Modelo 720
Well done! I was going to say report them to UK Banking Ombudsman (but they will only act if dispute not resolved)
Big brother gone mad!
Big brother gone mad!
