Evidencing income you self-declare tax on – SA302 & Tax Year Overviews for Mortgage Lenders.
A HMRC SA302 & Tax Year overviews will be required for any given year requested. Please read below for some guidance on what you need to do when to get hold of these documents.
How do I obtain this information?
HM Revenue & Customs (HMRC) provides the information online. Type in HMRC Online Services and you will see the same login page you used to submit your self-assessment.
Paper originals will continue to be acceptable if you do not have access to the internet. These can be ordered by you (or your Accountant) from HRMC T: 0300 200 3310.
A combination of online and paper versions to proof a number of years is acceptable.
SA302s (Tax Calculations)
Please ensure the following details are visible on the online SA302:
- HMRC logo
- Unique Tax Reference (UTR)
- Your name,
- Tax year
How to print a SA302 Tax Calculation (online):
From your HMRC online account
1. Log into the HMRC online account (go to www.online.hmrc.gov.uk)
2. Select ‘Self Assessment’ (if you are only registered for Self Assessment then you will automatically be directed to this screen)
3. Follow the link ‘View Your Tax Return’
4. Follow the link ‘tax return options’
5. Choose the year from the drop down menu and click the ‘Go’ button
6. Click the ‘view return’ button
7. Follow the link ‘view calculation’
8. Follow the link ‘view and print your calculation’
9. Follow the link at the bottom of the page to ‘print your full calculation’
Tax Year Overviews
Note: you can currently only view and print up to 2 years tax calculation from your HMRC online account but this will increase to 3 years from April 2015 and 4 years from April 2016.
An additional HMRC online document called a Tax Year Overview will be required to verify that the SA302 information is correct, whether using online or paper based SA302s.
The Tax Year Overview is produced by HMRC after the customer has submitted their self-assessment tax return. It shows the amount of tax due to be paid direct to HMRC or any available amount for refund for a given tax year.
How to print a Tax Year Overview (online):
From your HMRC online account
1. Log into the HMRC online account (go to www.online.hmrc.gov.uk)
2. Select ‘Self Assessment’ (if you are only registered for Self Assessment then you will automatically be directed to this screen)
3. Follow the link ‘Self Assessment Overview’
4. Follow the link ‘view account’
5. Follow the link ‘tax years’
6. Choose the year from the drop down menu and click the ‘Go’ button
7. Follow the link ‘print your Tax Year Overview’.
Please note: You must wait 72 hours after fully submitting your return until you can print your documents.
Author: Richard Stokes
Richard Stokes is a partner at Niche Advice who are whole of the market Independent Finance Brokers In London. His role is very much focused on on Mortgage and Insurance products.
Niche Advice is not tied to any bank, building society, estate agent or insurer and offers Independent Mortgage Advice and Insurance advice.