W8BEN form - again

[Gelatoni]

Originally Posted by dippiedawnie

We have never had one as far as I’m aware. What’s it for?

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It's just a form UK DVC members are sent - something to declare you do/don't have a US ITIL tax code. It says you may be fined if not completed.

[Teach0778]

Can you believe I’ve received another one of these forms this afternoon! That makes 3 this year! Unbelievable.

Even better it says it must be completed and returned by the 12th December! Not a chance since today is the 9th!

[tigger48]

Oh no! Just think how much money (dues) they could save on postage if they only sent it once 😉. It seems pretty strange to me that when you’ve only ever had a UK address, and have already returned one of these forms, DVC persists in resending them to check if you’re still not a ?US resident/taxpayer.

[Gelatoni]

Originally Posted by Teach0778

Can you believe I’ve received another one of these forms this afternoon! That makes 3 this year! Unbelievable.

Even better it says it must be completed and returned by the 12th December! Not a chance since today is the 9th!

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You are kidding! Someone is getting trigger happy with printing these... 🙄

[Gelatoni]

Originally Posted by tigger48

Oh no! Just think how much money (dues) they could save on postage if they only sent it once 😉. It seems pretty strange to me that when you’ve only ever had a UK address, and have already returned one of these forms, DVC persists in resending them to check if you’re still not a ?US resident/taxpayer.

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Yes no wonder there is a dues increase next year - to fund these blimmin' forms! 😂

[Teach0778]

I’ve just emailed accounting to tell them that 3 in one year is excessive and that surely by now they have a TIN number for me considering how many I’ve filled in and sent!

[Gelatoni]

Originally Posted by Teach0778

I’ve just emailed accounting to tell them that 3 in one year is excessive and that surely by now they have a TIN number for me considering how many I’ve filled in and sent!

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Just read up on it and it says they are valid for 3 years. Some of us don't seem to get the forms at all, and like yourself others many times a year.

None of the Dibb UK members that have never sent one have ever reported on here that they were fined or experienced consequences (as far as I have seen). I sent mine off just for peace of mind though.

[arielrocks]

Originally Posted by Gelatoni

It's just a form UK DVC members are sent - something to declare you do/don't have a US ITIL tax code. It says you may be fined if not completed.

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We’ve never been sent one!

[Geordieprincess]

I don’t have DVC but I work for an American company and am in their share scheme.
We have to fill in this form to avoid paying higher American tax rate on share dividends (as well as the UK tax rate). They are valid for 3 years but honestly it feels like they arrive much more often. This year for the first time in 20+ years I was sent a link to an electronic version and it was much simpler.
If I don’t fill it in I’m not breaking the law, I just get charged a higher rate of tax. Only made the mistake of ignoring the form once...
sorry I don’t know how DVC works and if this is remotely relevant in terms of how much tax you pay on dues or if you get a return on investment?

[Gelatoni]

Originally Posted by Geordieprincess

I don’t have DVC but I work for an American company and am in their share scheme.
We have to fill in this form to avoid paying higher American tax rate on share dividends (as well as the UK tax rate). They are valid for 3 years but honestly it feels like they arrive much more often. This year for the first time in 20+ years I was sent a link to an electronic version and it was much simpler.
If I don’t fill it in I’m not breaking the law, I just get charged a higher rate of tax. Only made the mistake of ignoring the form once...
sorry I don’t know how DVC works and if this is remotely relevant in terms of how much tax you pay on dues or if you get a return on investment?

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I'm not sure why as UK members we have to fill them in as we don't pay US tax, but perhaps someone else can shed light on it... Even if we rent out points we still pay UK tax.