Self-employed HMRC Tax Calculation and Tax Year Overview Requirements. An introduction to Aldermore s requirements If your client is self-employed and applying for a mortgage or bridging finance with us we can verify their income via their tax calculations. When you submit your customer s application, we will require Tax Calculation (SA302) and Tax Year Overview documents covering the following number of latest tax years: Mortgages Bridging Finance Commercial Residential & Buy-to-let Standard Bridge to term Investment & Owner Occupied 2 years 1 year 2 years 3 years You can view examples of these HMRC documents on pages 2 and 3 of this guide. 3 ways to access HMRC documents 1. HMRC self-assessment online 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. Turn to page 5 for a step by step guide on how to do this and if your clients still find that they are unable to print from their online account, they can contact HMRC for a paper copy of the documents. 2. Commercial software 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. 3. By post and phone If your clients usually send in a paper tax return, once it s processed they should automatically receive a copy of their 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. Customers should have their National Insurance Number and Self Assessment Unique Taxpayer Reference (UTR) to hand when they call. Summary of Aldermore s Requirements Print Tax Calculations HMRC online account Post or phone Tax Calculation (SA302) One copy for each tax year via: HMRC Online Account Online commercial software Post, issued by HMRC Tax Year Overview One copy for each tax year via: HMRC Online Account Post, issued by HMRC 1
Example Tax Calculation (SA302) As seen when calculated via a HMRC online account. Please note: all figures used are for illustrative purposes only. 2
Example Tax Year Overview As seen when printed from a HMRC online account. Please note: all figures used are for illustrative purposes only. 3
Example Tax Year Overview As seen when printed and issued by the HMRC call centre. Please note: all figures used are for illustrative purposes only. 4
A quick guide to printing tax calculation documents Printing Tax Calculations (SA302) The quickest and easiest way to obtain a Tax Calculation (SA302) is to print a copy. Customers can do this from either: HMRC Self Assessment online account OR the commercial software that was used to submit the return Please note: Tax Calculations (SA302) will only be available to print 72 hours after the submission of an annual tax return. You can currently view and print up to 3 years of Tax Calculations (SA302) from a HMRC online account. This will increase to 4 years from April 2016. 1 2 3 4 5 6 7 8 9 Log into the HMRC online account via online.hmrc.gov.uk Select Self Assessment (NB. If your clients are only registered for Self Assessment they will be automatically directed to this screen) Follow the link View your Tax Return Follow the link Tax Return options Select the desired year from the drop down menu and click the Go button Select the View return button Follow the link View calculation Follow the link View and print your calculation Follow the link at the bottom of the page to Print your full calculation 5
Printing Tax Year Overviews Your clients can print their Tax Year Overview from their HMRC online account by following these simple steps. Please note: Tax Year Overviews will only be available to print 72 hours after the submission of an annual tax return. 1 Log into the HMRC online account via online.hmrc.gov.uk 2 Select Self Assessment (NB. if your clients are only registered for Self Assessment they will be automatically directed to this screen) 3 Follow the link Self Assessment Overview 4 Follow the link View account 5 Follow the link Tax years 6 Select the desired year from the drop down menu and click the Go button 7 Follow the link Print your Tax Year Overview Repeat steps 5 to 7 if you require Tax Year Overviews for any previous years. Important note. This document is intended to provide information only. Individuals should seek advice on matters relating to tax from a qualified individual. aldermore.co.uk/mortgages FOR INTERMEDIARY USE ONLY Aldermore Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. (Financial Services Register number: 204503). Registered office: 1st Floor, Block B, Western House, Lynch Wood, Peterborough, PE2 6FZ. Registered in England No. 947662. ARM131-915-400111