Nationwide self-employed income figures??

Abby78

Hi

I would really like to port my existing Nationwide mortgage due to the v low rate it's on however I'm not sure if we will pass the affordability bit.

I am now self-employed, working as a contractor through a limited company. My pay is through salary and dividends which I understand are the figures Nationwide will take from the accountants certificate. However what confuses me is the comment 'treat remuneration and dividends as gross for tax purposes'.

My salary is 6,760 and my dividend pay out is 15,060. So thats a net figure of 21,821 going straight into my personal account - if that translated as a PAYE wage it would be about 28,500. But will Nationwide just take the figure of 21k or gross it up?

thanks to anyone who understands my ramblings and can shed any light

Simon_gloster

It'll all depend what you declared for tax purposes. £6k PAYE. No tax, dividends......did you declare all of it? Unlikely they'll gross it up as your PAYE plus net dividend is equivalent to a P60.

Penelopa.Pitstop

When I applied for Nationwide mortgage as company director they wanted my accountant to fill in their form. The form asks about income during company tax year, not the tax year. My dividends and salary where added together and gross amount was used. They wanted income from last two years and used lower amount from the two. They didn't want to see my tax statements.

Abby78

thanks both for your replies