When applying for a mortgage the figures used by lenders are very specific. Different lenders will accept different element s of self employed income. Many accept salary and dividend for limited company directors, but some will include retained profit and salary if that is more favourable. If you are a sole trader its important to know how a lender will interpret your returns because this could have a huge impact on the loan amount available. For instance many lenders wont accept income from interest on investments, or income from UK land and property.
Getting the correct documents to us as soon as possible allow us to get the exact figures, and to make best use of the income available. There are three ways of getting tax returns:
Customers who usually send off their tax return through a HMRC self-assessment online account, can print both of the required documents from their online account too.
See below for a step by step guide on how to do this – if you find that you are unable to print from your online account, you can contact HMRC for a paper copy of the documents.
Customers who usually send their tax return using commercial software, can print the Tax Calculation (SA302) from there. As for the Tax Year Overview, they should log into their official online self-assessment account to print that off. HMRC can also be contacted to obtain printed copies.
If you usually send in a paper tax return, once it’s processed you should automatically receive a copy of your Tax Calculation (SA302) by post.
A copy of the Tax Year Overview can then be obtained by calling HM Revenue and Customs on 0300 200 3310.
You should have your National Insurance Number and Self Assessment Unique Taxpayer Reference (UTR) to hand when you call.
As seen when calculated via a HMRC online account.
As seen when requested by the HMRC by phone.
As seen when printed and issued by the HMRC call centre.
As seen when printed from a HMRC online account.