Self-Employed Income Evidence Cut Off Advice
Read our timely Blog Post below for the most important details on your Self-Employed Income Evidence Cut Off.
Many banks require the most recent year’s income to be less than 18 months before the date of application.
This means for applications submitted from Friday 5th October, the evidence of the most recent year-end can’t be for the 2016/2017 tax year and we’d need more up-to-date income evidence by way of the 2017/2018 tax year.
Income evidence required for self-employed applicants would normally be the last 2 years tax calculations (SA302s) and tax year overviews.
For self-employed applicants who use the services of an accountant, the accountant would be able to provide these. If an applicant uses the HMRC Gateway (self-assessment), they can access their income evidence as follows:
For Tax Calculations applicants should:
- Log into their HMRC online account (go to www.online.hmrc.gov.uk)
- Select ‘Self-Assessment’
- Follow the link ‘tax return options’
- Choose the year from the drop-down menu
- Follow the link ‘view calculation’
- Click the link ‘view and print your calculation’
- Follow the link ‘print your full calculation’
For Tax Year Overviews your clients should:
- Log into their HMRC online account
- Select ‘Self-Assessment’
- Follow the link ‘view account’
- Follow the link ‘tax years’
- Choose the year from the drop-down menu and click the ‘Go’ button
- Follow the link ‘print your Tax Year Overview’
Contact Hawke FS Self-Employed Income Evidence Cut Off Advice
If you require personal advice, please do not hesitate to Contact a member of our friendly team here at Hawke as soon as possible. You can speak with Gary McKenna on 07920 511 924 / gary@hawkefs.com or John Green on 07799 387 421 or john@hawkefs.com. Alternatively, call our office on 020 8023 5137. We look forward to helping you understand your Self Employed Income.