Sharing your Government Gateway ID?

[LeadFarmer]

Anyone know if there are any dangers/implications to sharing your government gateway ID ref number?

I have recently registered some trusts that my mother set up years ago, trusts now have to be registered via a government Gateway ID. The financial advisor that my mother uses requires the registration reference numbers which I will send him for his records, so he knows they are now registered. But I think he also wants the Gateway ID reference number for each trust.

Is the gateway ID something that is personal/private and shouldn't be shared for security reasons?

[Sy1441]

My accountant has access to out company and personal ones.

[LeadFarmer]

Anyone know what, if anything someone can access if they know your Gateway ID? Or why they would need it?

[witko999]

They might be feeling generous and pay your taxes for you.

[alscar]

I still have to do this for mine and my wife’s Trusts but my IFA has asked for only the URN generated which is for their records.
I don’t see why your FA would need the gateway reference itself especially / albeit as its then password protected.
No idea on how secure gateway is btw.
Was it straightforward enough to complete btw ?

[okgo]

You can request to change tax codes by editing estimated earning, all sorts of things that are probably quite risky in the wrong hands!

[LeadFarmer]

alscar said:

Was it straightforward enough to complete btw ?

Yes, fairly straight forward, but I received a guide from my FA on how to do it. Without the guide I may have answered a couple of questions incorrectly, or struggled to know how to answer, example - it asked if the trust is for individual or organisation - I would have assumed it was an individual trust but I was told to select 'organisation'. Also it asks if the trust has a UTR, I wouldn't have know what that was but the guid told me to select 'no'.

After I got past about three of this type of question, it was just a matter of entering the trustee and beneficiary names and address etc,

I can send you the guide if you like, but it is specific to our trusts and might not be relevant for yours. Regardless, my mums trusts are simply trusts she set over 10 yrs ago up to keep some of her estate out of inheritance tax threshold. Might be worth asking your FA for a simple guide on how to complete the registration. There are companies who can do it for you but they charge at least £14 per trust!!!

[alscar]

Thanks LF - kind of you but as you say I would have asked mine for such. I say would as in my inbox today was just that - 14 pages of it !
Have just quickly leafed though and your two examples I would have thought exactly the same as you without the guide -not sure how a Personal Trust becomes an organisation but hey ho.

[LeadFarmer]

alscar said:

Thanks LF - kind of you but as you say I would have asked mine for such. I say would as in my inbox today was just that - 14 pages of it !
Have just quickly leafed though and your two examples I would have thought exactly the same as you without the guide -not sure how a Personal Trust becomes an organisation but hey ho.

I was told to create a separate Gateway ID for each trust I was registering, and in addition to any existing Gateway ID you may already have from previously viewing your state pension record, drivers license etc. So you end up with multiple ID's.

Apparently there could be fines if they aren't registered by September 2022

Edited by LeadFarmer on Friday 15th July 12:53

[alscar]

Yup again exactly what I have also been told- naively I expected to use various existing Gateway ID’s but apparently creation from new for these Trusts is “ just easier “.
I have nominated myself as the requested “ Lead “ trustee on both to be registered so will just pick a quiet hour when it starts to rain.