What is the SA302 form?
SA302 is a statement given by HMRC that provides evidence of your earning. It is, in every practical sense, HMRC’s presentation of an individual’s income tax calculation for that given tax year. You will be issued it following the submission of your Self-Assessment tax return.
Provided that you or your accountant submit your tax return online, you are able to extract your own tax calculation and other SA302 information for the last four year if you’ve sent your Self-Assessment tax return via:
•HMRC’S online services
•Commercial accounting software
You can access HMRC’s online services by logging into your HMRC online account and clicking `Self-Assessment` then `More Self-Assessment details`. There, you can also print your documents should you require them for a mortgage application or any other checks. This portal will additionally help guide you through the process if your accountancy software won’t print evidence of earnings.
If you or your accountant submitted your Self-Assessment tax return by paper, you will be automatically sent your SA302 in the post. Should you lose these forms, you will need to contact HMCR, who will ask for your National Insurance number and Unique Taxpayer Reference (UTR)
Finally, if you or your accountant uses commercial software to perform your Self-Assessment tax return, you’ll need to use that software to access your proof of earning. If you are struggling to obtain the necessary information, we suggest that you contact your software provider or print your Tax Year Overview from your HMRC online account. If you have lost your details of the HMRC portal, you will need to contact them as soon as you are able.
Who needs an SA302 form?
Anyone who is self-employed will usually need copies of their most recent SA302 forms if they apply for a mortgage. This applies to sole traders, freelancers, and contractors operating through a limited company, as well as many company directors (unless they are employed)
How do I get an SA302 form?
In order to obtain an SA302 form, you must sign in to HMRC online account (normally using the Government Gateway ID). Once you have signed in to your account:
- 1.Navigate to the section entitled `More details about your Self-Assessment returns and payments.`
- 2. Under the heading `Previously submitted returns` there is an option to `Get your SA302 tax calculation` which you should select.
- 3. The next screen will allow you to continue to your SA302 for the relevant tax year.
4.The final page will show the contents of the SA302. At the bottom of this page, you can `Print your full calculation`. Instead of printing it, you can also save it as a PDF and email this to your mortgage provider.
Can your accountant get the SA302 form?
Yes, most accountants will be able to provide copies of SA302 forms for purposes of mortgage applications.
What info does my SA32 show?
The form consists of 2 parts: the Tax Calculation and the Tax overview
•Tax Calculation –The summary of your Self-Assessment that shows your total earnings and tax
•Tax Overview –The current status of your tax payments
it’s the Tax Calculation that is the more important part when applying for a mortgage, but some lenders may also request the Overview.
Do I need SA302 for my mortgage?
In most cases, if you are self-employed, yes. Your lender needs some way of verifying your income and SA302s are the simplest and most comprehensive way of doing so. Certified accounts will also be accepted by some lenders, but if you have an account, there’s a high likelihood they will get you an SA302 form anyway.