P60 doesn't show enough income for mortgage - help!

kcseb

Hi

So...I need to show my P60 for a new BTL mortgage application, as proof of income.

For tax year ending 5 April 2014, I've obtained a P60 from my current employer. However this does not show enough earnings to meet the BTL criteria.

This is because, the P60 for tax year up to April 2014 is missing my income from April 2013 - August 2013, while I was with a prior employer for those months. Were those months' income added, then the P60 would show more than the required annual income.

Any ideas what to do?

Best

Rmphotography

Can you not get in touch with your previous employer and request a copy of your P60 from them?
Most places keep the records on file or some have them available on an intranet.

kingstreet

If you provided your new employer with a copy of your P45 when you started, your P60 should show income from previous employment as well as current employment.

Has this issue actually been raised, or are you assuming it will be?

kcseb

Thanks Rm - so does that mean I can submit two P60s, both covering the same tax year?

Best

K

Paully232000

I would do as advised by previous poster as I had two jobs over the past few years, one full time and one as and when needed and at the end of every year have received two P60s, one from each organisation.

ACG

Speak to the lender, most are happy to look at alternatives. For example a letter from your employer, a copy of the contract etc etc.

Thrugelmir

If your P60 doesn't state previous pay. Then you'll need to provide your copy of the P45 that you were issued with.

kcseb

Great thanks for all the replies guys, appreciate it. K

kcseb

Think I will send them P60 from previous employer also: I didn't give P45 to new one, hence this issue.

I started in my current job on a 6-month contract: but now I've been here 9 months (sometimes out of contract) and plan is to keep me permanent.

However if mortgage company start asking about current job, technically they may view me as FTC (which they don't like), so I want to avoid that!

Give them two P60s the best way forward then?

dunstonh

This is because, the P60 for tax year up to April 2014 is missing my income from April 2013 - August 2013, while I was with a prior employer for those months. Were those months' income added, then the P60 would show more than the required annual income.

How much difference is there from the previous employer to the new one?

The old employment income is largely irrelevant as you are not with that employer any more. They should be equating your new income over 12 months to get the new level.