Self Employed Income (including Director/Owners of Limited Companies)

Remember, we are here to help you. There are several ways a lender might assess your income, the more documentation that you can give us, the wider choice of mortgages we can consider for you.

If you have the latest three years’ worth of figures that is great but if not, don’t worry – we have access to lenders that will accept two or even one years’ trading figures.

Documents required to prove income

To assess income lenders might they might use figures from HMRC or they might use figures produced by an accountant - or they might want to see both.

a) Figures from HMRC

What are normally required are the “Tax Calculation” (also known as the SA302) and “Tax Year Overview” for the relevant years.

The Tax Calculation is a summary of the income that has been reported to HMRC and any tax due for that year, the Tax Year Overview verifies that the SA302 information is correct and shows what tax (or refund) is outstanding.

If you or your accountant submitted online self-assessments, the documents can be obtained by logging in to HMRC online. There is a step-by step guide below to help you.

If you or your accountant submitted paper self-assessments, or if you can’t access your HMRC online account then call HMRC on 0300 200 3310. You will need your 10 digit Individual Tax Code and National Insurance Number, and ask them for the documents as you will need them for a mortgage application.

Step by Step Guide to obtaining Tax Calculations and Tax Year Overviews from HMRC online.

(Unfortunately it is a little complicated - You might want to keep this page open or print it to help you navigate the HMRC site.)

Login to online.hmrc.gov.uk (They might ask you for details from your passport, best have it handy).
Select “Self-Assessment” (If you are only registered for Self-Assessment this will automatically be done).
Select “More Self-Assessment details”.

Getting Tax Calculations (AKA SA302s)

Left hand menu - select “Tax return options”.
Near the middle of the page - select the appropriate year from the drop down box and press “Go”.
Near the bottom of the page - press “View return”.
Near the bottom of the page - press “View and print your full calculation”.
Near the bottom of the page - press “Print your full calculation”.
If you can print to “PDF” or “XPS” you can simply email the resultant file to us.

Getting Tax Year Overviews

Left hand menu - select “View account”.
In the sub-menu that appears - select “Tax years”.
Near the centre of the page - select the appropriate year from the drop down box and press “Go”.
At the bottom of the “Tax Year ending…” section - press “Print your tax year overview”.
If you can print to “PDF” or “XPS” you can simply email the resultant file to us.

b) Figures from Accountant

Get the accounts provided to you by the accountant.

Also, ask your accountant what professional body they are a member of (i.e. Is the accountant a Chartered or Certified accountant?) as the lender will want to know this.

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