Form W8-BEN, Certificate of Foreign Status of Beneficial Owner for U.S. Tax Withholding, is used by a foreign person to establish both foreign status and beneficial ownership, and to claim income tax treaty benefits with respect to income other than compensation for personal services.

What is a W-8BEN form UK?

A W-8BEN form means we can claim a US tax reduction for you on your dividends and interest from US shares. If you are not a UK resident and/or the form is for an account that is not held by you individually, you will need to download a W-8BEN form from our website.

What is the tax treaty benefit?

The United States has income tax treaties with a number of foreign countries. Under these treaties, residents (not necessarily citizens) of foreign countries may be eligible to be taxed at a reduced rate or exempt from U.S. income taxes on certain items of income they receive from sources within the United States.

Is a TIN number the same as UTR?

The United Kingdom does not issue TINs in a strict sense, but it does have two TIN-like numbers, which are not reported on official documents of identification: 1. The unique taxpayer reference (UTR). The NINO can be quoted as the tax reference number on some official documents from HM Revenue and Customs.

What does form W-8BEN stand for in tax form?

Form W-8BEN is specially designed to solve this problem and simplify the life of a common taxpayer. It is also known as the Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals).

What do you need to know about Upwork form W-8BEN?

Form W-8BEN. The Form W-8BEN is a form used to confirm you’re not a U.S. taxpayer and that Upwork is not required to withhold taxes from your earnings. For record-keeping purposes, Upwork requires a Form W-8BEN for all non-U.S. taxpayers paid on Upwork.

Do you have to provide a W-8BEN to the IRS?

These individuals must provide a completed W-8BEN form to their U.S. client in order to avoid paying tax to the IRS. Your country of origin has a tax treaty with the U.S. In this case, you avoid double taxation. You don’t pay tax on your U.S. income to the IRS. But you will pay tax on that income in your country of origin.

What is the permanent residence address on form W-8BEN?

Your permanent residence address is the address in the country where you claim to be a resident for purposes of that country’s income tax. If you are completing Form W-8BEN to claim a reduced rate of withholding under an income tax treaty, you must determine your residency in the manner required by the treaty.