How to get your SA302
(sa302 commonly referred to as “Tax Calculations”)
You will need your sa302 If you are applying for a mortgage or loan when your broker or loan company will most probably require proof of your last several years self-assessment tax returns. Depending on your loan company requirements will affect how you can retrieve these reports.
From September 2017, HMRC announced they will no longer issue SA302 / tax calculations, so the question remains, how can you get hold of these reports.
If you use an accountancy service to file your tax returns, they should be able to provide you with tax calculations to satisfy most lenders (more on this later!). If you have filed your own tax returns, you can retrieve these online with your Government Gateway account https://www.gov.uk/log-in-register-hmrc-online-services
To expedite your mortgage process, its worth checking with your mortgage provider as soon as you can; will they accept SA302’s that you have printed yourself from the HMRC website? As you will appreciate, many lenders see this as an opportunity for less honest applicants to “doctor” their tax returns, increasing their income to fit the lending criteria!
Many lenders will accept your accountants documentation if sent directly from the accountant to the lender, however even than can be problematic with some lenders.
HMRC are aware of this frustrating situation and have produced a webpage with a list of lenders who will accept your self-printed tax calculations (SA302’s) and tax year overviews.
If your mortgage broker / lender will only accept SA302’s from HMRC, there is another slower option, it can take a couple of weeks, which is why we recommend talking this over with your lender early on, if its the only option due to your lenders criteria, you can contact HMRC directly. HMRC currently (October 2021) will still post out your tax calculations if you explain the situation to them. You can contact them directly on 0300 200 3310.
If you are a company director (of a Ltd company etc) and do not complete self-assessment tax returns, but instead pay yourself though PAYE, again, some lenders require your tax calculations! If you have not submitted a self-assessment tax return, because you are essentially an employee of your company, you need to make your broker / lender aware of this, as the quickest and simplest route may be to change broker / lender unfortunately.
As an independent accountancy practice, we do not generally recommend any particular mortgage broker, and if we do point you in a particular direction, be assured we do not receive any commission for this.
Good luck finding the right property and lender, if you are still stuck, please do contact us.
