What is a TIN? (Tax Identification Number)

A TIN is a unique combination of letters and/or numbers assigned by tax authorities to identify individuals and entities for tax purposes. You will normally find it on any letters or correspondence you receive from your tax authority (the relevant tax authority in the jurisdiction(s) in which you are a tax resident). Some authorities do not issue a TIN, however, they will often use a similar type of number which can be known by a different name e.g.:

• Unique Tax Reference (UTR) in the UK;

• Social Security Number (SSN) for individuals and the Employer Identification Number (EIN) for most entities in the US;

• SIREN in France; or

• NIP/PESEL in Poland.

The OECD website can be consulted for further details about the TIN or its equivalent.

• Have a valid UK home address

• Be registered with HMRC 

Directors of limited companies must also

• Have a valid home address in the UK or overseas

• Be registered with Companies House 

We’re on a mission to help business owners spend less time on money admin.

However, there are a number of high risk industries that we can’t take on, as this would mean not being able to focus our time and energy on the rest of our members.

We don’t currently offer current accounts to businesses in the following industries:

• The holding, managing and/or controlling of a third party’s (client’s/customer’s) finances in the Tide account. This includes using the money on behalf of other individuals

• Insurance companies (incl. insurance brokers)

• Trading of crypto/virtual currencies

• Operating as a pawnbroker

• Extraction of precious metals and stones

• Investments (incl. real estate investments)

• Money services (such as foreign exchange, loan providers, money transfers)

• Banking services (incl. BCAs, loans, digital wallets, etc.)

• Casinos, prize draws and other betting or gambling activities

• Sale of unlicensed pharmaceuticals

• Sale or trade of cannabidiol (CBD) products

• Trading of weapons, explosives or armaments

• Unlicensed trading and processing of scrap metal

• Unlicensed waste management

• Unlicensed animal breeding

• Sale, import and export of used vehicles or heavy machinery

• Escort services and other services in the adult industry

• Bidding fee auctions

• Non-profit organisations, including charities

• Operating as, but not limited to, CICs and CIOs, PLC, LLP, Partnership, Trust.

You can read more about this in our blog post: Providing financial security for our members.