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Renewing a Bid Society Bond. Asking for income.

(6 Posts)
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Lovetopaint037 Fri 01-May-26 11:31:49

Just this and very annoying. Do we actually have to work out the gross amount of any income we have. My dh has just received a P60 from his pension provider but mine has to be downloaded when it is available from Teachers Pensions. Which is a major pain in the butt as it fraught with links that don’t work etc. So much is now deducted from my pension that it is really difficult to work out. State pension can of course be worked out. What a hassle just to renew a long term savings bond. This is the Nationwide but don’t remember it being required from the Yorkshire Bld Society. Do we really have to provide this info?

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Allira Fri 01-May-26 11:38:35

Was this an email?

Are you sure it is not a scam? I've never heard of a bank or building society asking for details of income. Why do they want to know just to renew a Savings Bond?

Or was it from HMRC, who never email you anyway.

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Allira Fri 01-May-26 11:42:32

This could be a scam, the scammers are even sending out official-looking letters now!

www.bbc.co.uk/articles/cdjnkl8e1l8o

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keepingquiet Fri 01-May-26 11:43:53

As an ex-teacher I have been sent an e-mail saying my P60 is available to view. I have no intention of looking at it.
I didn't know I was required to do anything.

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Graphite Fri 01-May-26 12:25:57

I assume the bond has matured and you are just rolling the money into a new bond.

You are opening a new account. The new bond will have a new account number.

When opening any new account, a bank or building society usually ask for an estimate of gross income. They also ask where the money for the investment is coming from e.g. salary, pension, existing savings etc. It is standard practice. There is no need to provide documentary evidence.

It is part of regulatory compliance called AML (Anti-Money Laundering) and KYC (Know Your Customer) to verify customer identity, prevent money laundering, and ensure financial safety. The information helps banks establish a baseline for your expected account activity, allowing them to spot unusual transactions.

As for getting hold of a P60, most big pension providers now have an online pension portal. You have to register to use them but it’s straightforward.

It means that if you have gone paperless for monthly pension slips, you won’t have a month 12 slip which usually has the equivalent data to a P60. You can get the data from the portal in advance of receiving your P60 in the post.

It’s helpful if you want to get your tax return in soon after 5 April, for example, if you have overpaid tax and are claiming a refund.

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butterandjam Fri 01-May-26 12:39:54

Open an online account with HMRC.

It will show you all the tax deducted from your income sources . You can check this is correct and reclaim any overpayment.

www.gov.uk/log-in-register-hmrc-online-services

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