How to get an SA302 for your mortgage

If you need a SA302 for a mortgage then this tells you how to get a suitable form.  The following is the update from HMRC contained in the Agent Update 48, at pages 11 and 12.  It is dry, but very important if you are seeking a mortgage.

HMRC’s online Self Assessment documents to support loan and mortgage applications

As we move into a more digital world, we have been working with the Council of Mortgage Lenders to improve our online documents. In particular, we have improved the Tax Calculation (SA302) and Tax Year Overview so that lenders can consider accepting them as evidence of income returned to HMRC for loan or mortgage purposes. Adding the Tax Year Overview as evidence addresses the Financial Conduct Authority’s concerns about the robustness of the Tax Calculation.

The new process is still embedding. Some lenders will accept copies of the online documents while others will ask for original paper copies. For now, it’s probably best to check with the lender what they accept to avoid any unnecessary delay or confusion.

The new process for SA302

If the lender asks for copies of online documents, you (your client) will be able to print them from the online account without having to contact us.

To access and print the Tax Calculation (SA302) and Tax Year Overview, you (your client) need to be registered for HMRC Online services. If you send tax returns using:

• HMRC software, you can print both documents from HMRC Online Services
• Commercial software, you can print the Tax Year Overview from HMRC Online Services, but you need to use your own software to print the Tax Calculation.  In our case, the tax computation in OpenSpace will be all you need.

If you can’t access and print online documents or the lender asks for paper copies, contact HMRC Self Assessment Helpline and we will send them to you.

Printing your client’s Tax Calculation (SA302)

You can currently view and print up to 3 years Tax Calculations, but this will increase to 4 years from April 2016.

1. Log in to your agent online account.
2. Choose the relevant client from the authorised client list.
3. Follow the link ‘tax return options’.
4. Choose the year from the drop down menu and click the ‘Go’ button.
5. Select the ‘view return’ button.
6. Follow the link ‘view calculation’ from the left hand navigation menu.
7. Follow the link ‘view and print your calculation’ at the bottom of the page.
8. Follow the link ‘print your full calculation’.

Printing your client’s Tax Year Overview

1. Log in to your agent online account.
2. Choose the relevant client from the authorised client list.
3. Follow the link ‘view account’.
4. Follow the link ‘tax years’ from the left hand navigation menu.
5. Choose the year from the drop down menu and click the ‘Go’ button.
6. Follow the link ‘print your Tax Year Overview’.

You must wait 72 hours after fully sending a tax return until you can print your documents.

At 3 September 2015, the following lenders had signed up to the new processes: