Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • willhopkins
    • By willhopkins 6th Jul 17, 10:14 PM
    • 2Posts
    • 0Thanks
    willhopkins
    Increase SA for mortgage application
    • #1
    • 6th Jul 17, 10:14 PM
    Increase SA for mortgage application 6th Jul 17 at 10:14 PM
    Hi

    Last year I sold 50% shares of my small limited company for £11000.

    The shares were transferred back to me after 6 months for nil monies.

    I would like to include this amount on my SA302 tax return as myself and my wife are applying for a mortgage and this will help with my income as I am self employed.

    Should the above figure be included or can it be included in my SA302.

    Thanks

    William
Page 1
    • kingstreet
    • By kingstreet 6th Jul 17, 10:20 PM
    • 32,254 Posts
    • 17,281 Thanks
    kingstreet
    • #2
    • 6th Jul 17, 10:20 PM
    • #2
    • 6th Jul 17, 10:20 PM
    IMHO that's a capital gain, not income.

    It won't form part of your income for mortgage purposes.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • SeagullFTB
    • By SeagullFTB 7th Jul 17, 8:24 AM
    • 42 Posts
    • 19 Thanks
    SeagullFTB
    • #3
    • 7th Jul 17, 8:24 AM
    • #3
    • 7th Jul 17, 8:24 AM
    I agree with Kingstreet. It's a capital gain so it won't help your affordability.

    It's also below the annual capital gain allowance, so doesn't need to be included within your tax return.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

140Posts Today

1,998Users online

Martin's Twitter