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Sam, Accountant
Category: Tax
Satisfied Customers: 14192
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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, I need to complete the Foreign

Customer Question

Hi, I need to complete the Foreign Account Tax Compliance Act (FATCA) forms to open a business account - I have a contract at Lloyds bank as a PPI case handler. I admit I do not understand the form at all and will not get the business account or more importantly get paid with it. Can you help please! Thank you Beverley XXXXXXXX XXXXXXXX

Submitted: 3 years ago.
Category: Tax
Expert:  Sam replied 3 years ago.
Thanks for your question, which has come through to the UK tax forum on Just Answer.
What do you not understand about the form?
This form usually relates between a UK citizen and a USA ban account, or the other way around - so that compliance is seen to be maintained between the USA and Europe.
If you are a UK citizen and I assume running a UK business or employed by the UK based Lloyds Bank then a normal bank account would suffice, please expand on your position
Customer: replied 3 years ago.

Your answer is no help to me at all - I am unable to get the HSBC bank account without completing the form, it is not an option to fill it in!

I need someone to talk me through the form as I don't want to tick a wrong box the bank are not allowed to help!!!!!

I will not get paid without a business bank account.

eg do I complete no. 3?

what box do I tick no. 4, 5, 11?

The list goes on......

Beverley XXXXXX

Customer: replied 3 years ago.

I notice you have now gone off line. I have not had any help with my question.

Please refund my money immediately and I will go elsewhere.

Beverley XXXX

Expert:  Sam replied 3 years ago.
Refund requested for you (I went off line as not only do I run a business, have two children to parent, single handily but do sometimes have to attend to personal aspects of my life)
You have neither answered my questions, to enable me to assist NOR indicated which form you are filling out, so how am I supposed to know whether number 3 is relevant to you! We are not mind readers, which I am sure you can appreciate!