Is it safe to assume I can use Revolut like I would use any other Dutch bank?

[Joey G]

Good morning,
I'm Dutch & living in the Netherlands. I'm expecting around 40000 ILS from Israel, so naturally Revolut's exchange rates are appealing.
Question is, will I need to fill in any UK paperwork for using this account and receiving this money? Or can I treat this account just like I would treat any other Dutch bank account?
To be specific, I am referring to the accounting aspect of it - will I be expected to declare or pay any British tax? Or can I declare and use my Revolut account like a local Dutch one, and expect Dutch tax rules only, to govern it?

[pawncob]

Are you resident in the UK for tax purposes?
If "no" then there are no UK tax implications, but there might be tax due in the Netherlands, depending on the source of the funds and your tax position.

[Joey G]

Are you resident in the UK for tax purposes?
If "no" then there are no UK tax implications, but there might be tax due in the Netherlands, depending on the source of the funds and your tax position.

Thanks! I also had a live chat with Revolut today (with a human LOL) and they said more or less the same thing, plus she mentioned there's a difference between e-banking and normal banking in this regard.

[ABiLiTieS Trust]

The location of the bank is not relevant in case you are a Dutch tax resident. In case the bank account is a personal belonging, the bank balance is taxed in box three.
A difference between a bank with a bank license and an online bank such as Revolut without a bank license is the interest (to my understanding parties such as Revolut can not give any interest). Though for Dutch box 3 taxation interest income is not relevant.