Mortgages – What’s an SA302?

 In Tax

If you are Self Employed or a Company Director and have recently applied for a Mortgage, you may have been asked to provide SA302’s and Tax Overviews for the last three years. You may be asking what are these?

What’s an SA302?

An SA302 is a certificate that summarises the income that has been reported to HMRC. It is an easy way for a lender to verify the income figures in the mortgage application are the same as the documents submitted to HMRC.  You will recognise the SA302 as the tax calculation breakdown which accompanies your annual self-assessment.

SA302’s are often asked for in conjunction with ‘Tax Year Overviews’, which can be obtained via the HMRC government gateway.

What are the requirements for applying for a Mortgage?

Sole Trader – Minimum of one years finalised accounts, or SA302 from HMRC, which is less than eighteen months old.

Partnerships – Minimum of one years finalised accounts, or SA302 from HMRC, which is less than eighteen months old.

Limited Company – Three years SA302’s showing salary and dividends and an Accountants Certificate

Ways to access HMRC documents

  1. HMRC Self-Assessment Online – Log in and print off copies, or ask us to do this on your behalf
  2. Commercial Software – Use the Tax Calculation from the software and the HMRC portal for the Tax Year Overview
  3. By Post and Phone or Fax – Call HMRC on 0300 200 3310 and ask them to Post or Fax you a copy.

What’s the bottom line?

If you are applying for a mortgage, please get in touch so we can provide you with the necessary documentation to help make your mortgage application a success.

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