Renewing a Bid Society Bond. Asking for income.

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.

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

www.bbc.co.uk/articles/cdjnkl8e1l8o

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.

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.