Revenue asking for Bank statements from Raisin

[Cooler_box]

Has anyone been asked to supply the Revenue with bank statements from Raisin when making their annual returns?

 

[ClubMan]

Bank statements or statements of interest paid?
How and where exactly are they asking for this?

 

[Corola]

I've never been asked to provide proof when I'm trying to pay more tax.

 

[Cooler_box]

@ Clubman - Bank statements of interest paid. I calculated all the interest earned on my savings with 3 separate banks. One bank (BGP) withheld 28% WHT tax at source. It’s possible Revenue may need proof that I paid this to the Revenue in Portugal before they will allow the 15% credit against the 33% they are owed? I just wondered why they need my statements? Banks are required to share information about any income I earn from savings with the Revenue and can check my returns against the information they get from the Banks?

 

[johncb]

Keep the statements in case you're asked. I never have been, but can back up any foreign interest figures I've included on my return if asked. Raisin issue an annual summary statement of all your accounts for a particular year which is pretty handy [I think they issue it around March for the preceding calendar year]

 

[ClubMan]

Bank statements of interest paid.

Sounds like a statement of interest paid would suffice. I don't know about Raisin or their partner banks but Irish banks issue these as a matter of course on request. In some or all cases they can be requested via online banking.

You didn't clarify exactly how and where they're asking for additional information. What is the exact wording of the request and where does it appear?

 

[Cooler_box]

@ Clubman. I did this in 'MyAccount'. This is the response I got after submitting my return for 2024:

I refer to the 2024 Income Tax Return you filed.

I note that you have included EU and/or Foreign Deposit income on your return.

To enable me to process the return, please provide the relevant documentation showing the Deposit income received along with any foreign tax that may have been withheld.

Copies of requested documents can be attached to a new My enquiry.

 

[ClubMan]

relevant documentation showing the Deposit income received along with any foreign tax that may have been withheld.

Which would be a statement of interest received. Not necessarily full account statements.

 

[Cooler_box]

@ClubMan. Yes, but my question was: has anyone else been asked, as I'm wondering if this is a normal request?

 

[Dr Strangelove]

Yes, but my question was: has anyone else been asked, as I'm wondering if this is a normal request?

What does it matter?

You are obliged to provide it.

 

[ClubMan]

I just wondered why they need my statements?

They don't. Emphasis is mine.

To enable me to process the return, please provide the relevant documentation showing the Deposit income received along with any foreign tax that may have been withheld.

As I've said before a statement of interest earned - which should also clarify what, if any, taxes are withheld at source - should suffice and meet the description of relevant documentation.

https://www.raisin.com/en-ie/tax/

Documentation for Raisin Bank customers

The partner banks provide, at the expiration of the deposit or at the time of payment of the interest generated, all relevant information on interest income, applied withholding tax and exchange rate. You will receive this document in the Mailbox of your online banking.

Also, at the beginning of the year, we will provide you with a document containing all the relevant fiscal information related to the previous year that you will need to file your taxes.

 

[Cooler_box]

Thank you all, for your comments, help and suggestions.