Do HMRC send out hard copies of completed self assessment forms?
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I'm looking at getting a mortgage and I understand most lenders need to see proof of self assessment income. My mortgage broker thinks I should have paper copies of my tax completed returns send to me by HMRC but I can't find any. All I have is statements which show how much tax I owe but not how much income I have earned. Am I missing some paperwork and if not, how do I prove my income?
taamlyn
1 year ago
Expert Financial Adviser Answer
Richard Salter
answered 1 year ago
No i don ot think do. However you can ask thee for hard copies of blank forms you need to fill in. You can also ask for hard copies of the guidance booklets to correct form filling. The HMRC does try to encourage online filing and to avoid paperwork. At the end of the filing process you get a receipt and can run off a copy of what you filed however ~ and get a reference number.
Hope this helps
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Hope this helps
Expert Financial Adviser Answer
Darren Smith
answered 1 year ago
You can download a submitted copy of your return from the HMRC site assuming you use the government gateway logins and this will show what you have submitted and when, as its all timestamped.
but what a lender would want to see is the calculations page as that breaks down all of your income from all various sources and then confirms the amounts due to be paid now and the future payments due on account.
although you can also print this yourself, many lenders will want the HMRC version on their headed paper as a means of validating the authenticity of the documents.
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but what a lender would want to see is the calculations page as that breaks down all of your income from all various sources and then confirms the amounts due to be paid now and the future payments due on account.
although you can also print this yourself, many lenders will want the HMRC version on their headed paper as a means of validating the authenticity of the documents.
taamlyn
answered 1 year ago
From my research it seems you can call the HMRC and ask for a SA302 and they'll send it out in a few days time.
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Expert Financial Adviser Answer
Darren Smith
answered 1 year ago
you can ask your tax office to send you a printed copy of your calculations and summary of account but it takes around 3-5 days from when you submit for the data to be officially filed and accepted so if you have only just done your return for last year you will need to wait a bit.
as ever this time of year is one of the busiest for hmrc as many people file at the last moment so you can also expect a delay in response time from hmrc as they will be inundated.
some lenders are more flexible in what evidence they will need, i know of some that will take business bank statements and accountants projections of income - but this varies widely with each lender and generally speaking the higher % you want to borrow, the more evidence a lender will want - nomatter whether you are self employed or PAYE.
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as ever this time of year is one of the busiest for hmrc as many people file at the last moment so you can also expect a delay in response time from hmrc as they will be inundated.
some lenders are more flexible in what evidence they will need, i know of some that will take business bank statements and accountants projections of income - but this varies widely with each lender and generally speaking the higher % you want to borrow, the more evidence a lender will want - nomatter whether you are self employed or PAYE.
Expert Financial Adviser Answer
Darren Smith
answered 6 months ago
i don't imagine that anyone would be willing to share such a document with you as it would contain confidential client information.
however, you can ask the HMRC self assessment line for your SA302 which most lenders will accept as it will show a full breakdown of all your income and tax liability for each year you have completed a return.
the last time i needed to request one, they stated 10 days to respond but it arrived within 3. the document is usually a single page of a4 with a covering letter.
a lender would never want to see your entire tax return, they would either ask for your trading accounts (profit & loss) or the SA302.
as mentioned before, if you have submitted online, you can always download and save returns from all previous years, if you have filed by post you would be expected to have kept your own copy.
for each self-employed client i have placed a mortgage for this year i have been asked either for their basic profit/loss accounts or the SA302 as a means of confirming s/e income.
i would have some doubt about the experience of the person you are dealing with if they are seriously asking for the actual data you submitted.
that's like asking an employee for their payslips and timesheets!
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however, you can ask the HMRC self assessment line for your SA302 which most lenders will accept as it will show a full breakdown of all your income and tax liability for each year you have completed a return.
the last time i needed to request one, they stated 10 days to respond but it arrived within 3. the document is usually a single page of a4 with a covering letter.
a lender would never want to see your entire tax return, they would either ask for your trading accounts (profit & loss) or the SA302.
as mentioned before, if you have submitted online, you can always download and save returns from all previous years, if you have filed by post you would be expected to have kept your own copy.
for each self-employed client i have placed a mortgage for this year i have been asked either for their basic profit/loss accounts or the SA302 as a means of confirming s/e income.
i would have some doubt about the experience of the person you are dealing with if they are seriously asking for the actual data you submitted.
that's like asking an employee for their payslips and timesheets!