As I have blogged before, most mortgage lenders require form SA302 as evidence of a mortgage applicant’s financial standing. These forms are difficult to get hold of as HMRC only automatically issue them to tax payers who have submitted a paper tax return. A vast majority of people either submit their returns on-line or use tax agents who similarly submit their client’s tax returns on-line. In either case there is no form SA302. This has meant that tax agents or tax payers have had to ring HMRC and request the form SA302 be sent to the client for the relevant years. This may take up to a fortnight and so cause delays in any mortgage application.
In December 2014 HMRC announced that tax payers can provide proof of their income to potential lenders themselves. HMRC revised the self-assessment account on-line so that a tax payer can print off a tax calculation and a tax year overview. The HMRC has said that agents could also print off these documents via their agent HMRC web portal.
However, again, this doesn’t work for a vast majority of agents. The reason is that HMRC documents will only be available to print off if the tax return has been submitted to HMRC using HMRC’s online tax return software. It is of little use to tax payers with agents because most agents use third party software and are thus unable to print off the tax calculation and the tax year overview for their clients.
If you find that this is the case for you, then you can ring HMRC and state that the SA302 is needed urgently. They will fax you a copy the same day. If you know longer have a fax machine then you can ask them to fax it to your tax agents. This is something we have done for clients very recently.
On this page on Gov.uk – they state that the following situations are when you would need to contact them regarding the SA302 calculation:
- you sent your tax return by post and want a tax year overview
- your mortgage lender won’t accept documents you printed from commercial (3rd party) software
- you can’t access your online account and want copies of your documents
This page on HMRC (via Gov.uk) webpage gives you all the up-to-date numbers and addresses to contact the Self-Assessment department on.
While I value your comments and will try to help as much as I can – remember that I am not an agent for HMRC, nor affiliated in anyway to HMRC. Any advice or guidance I provide you in this post or in my responses to your comments are limited to what I know from experience of working with my clients. In all cases, it is best to speak to your own accountant or direct with HMRC if you are having extreme difficulties.