[10 April 2015 – Please note I have since updated this subject – read “Form SA302 Certifying Income for Mortgage – HMRC makes some changes“)
Many lenders are now asking to see copies of HMRC SA302 forms covering the past two or three years tax years. The SA302 is a response from HMRC which is only issued to those who file a paper tax return before 31 October following the end of the tax year. If you or your accountants have filed online you won’t have a SA302 form. The form shows your income for the year and how much tax you owe.
Why are lenders asking for this form?
The SA302 is a brief summary of the income that has been reported to HMRC. It is effectively a certificate that documents exactly how much income you have declared. Therefore form SA302 is an easy way for a lender to verify that the income on a mortgage application is the same as you have shown to HMRC. Our advice for anybody who does not receive a form SA302 from HMRC is to order a copy of the relevant forms right at the start of a mortgage application so they are to hand if a lender subsequently requests them.
How do you get form SA302 from HMRC?
Your accountant can get it for you. However if you file your own return online you will have to call HMRC to order one. The HMRC Self Assessment helpline number is 0300 200 3300.
Before you call, make sure you have time to spare and the information below to hand. The lines are usually busy and you can find yourself on hold for a long time.
You will need to give:
- Your full name
- Full current Address
- Date of birth
- Unique Tax Reference (UTR): (a 10 digit unique individual tax code to you)
- National Insurance number (not essential if you have the 10 digit code above, but best to have both)
- Be sure which tax years you need – I would suggest you request the last three tax years as this will satisfy most Lenders.
- Make sure you have filed your returns for the years in question! Lenders don’t like old information.
- HMRC will only post the SA302s to the address shown on their records. Make sure that this is up to date. They quote 7-10 days but it can take longer.
- You can get HMRC to fax the forms to you or your mortgage broker. You will also need the originals as your broker will need to see these. Faxed copies will get things moving. Tell HMRC it is needed for a mortgage application and ask for the copy to be faxed urgently, they are then likely to do it much more quickly than they might otherwise. It isn’t an unusual request.
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.
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