Self employed/ lots of overtime

Mattygroves2

Davidoff wrote: »

No one is claiming anything, we keep her income below the threshold for repaying student loan. As if I needed to spell that out.

We all know what you're trying to do but the rules as to what is allowable as a business expense (usually called claiming a business expense) are clear and do not allow you to claim 100% of utility bills unless they are wholly used for the business. So a separate phone line or broadband line which is not used for any (or merely incidental) personal use would be OK but you'd also need a second line you pay for personally (ie. not claimed against profit). Link for HMRC explanation of what is a possible valid allowable expense is:

http://www.hmrc.gov.uk/manuals/bimmanual/BIM47820.htm

and some worked examples:

http://www.hmrc.gov.uk/manuals/bimmanual/BIM47825.htm

Thrugelmir

Davidoff wrote: »

It's also worth mentioning that we have close on no outgoings as my partners business absorbs things like car insurance, utility bills etc

Then I would maintain a contingency fund for when the HMRC come knocking. As obviously non business expenditure is being claimed. If deemed intentional. Then the penalties are severe.

GMS

What is the adverse credit?

2 years is a long time in the mortgage world. Impossible to say what the requirements will be at that time.

suziqqq

I agree with GMS 2 years is a long time and things change not just mortgage wise but your personal circumstances too. Nobody can give you advice for 2 years down the line.
As for the other comments they are all relevant to your OP, however it is unwise to include elements in your OP that you do not wish people to comment on . You wrote the post so you need to accept peoples views. You have opened your own can of worms here.

amnblog

I would suggest that second guessing what the market will look like in 'two years time' is a bit of a long stretch.

Contemptuous

To my knowledge, lenders won't use overtime or any other additional payments to inflate your basic income.
They would only be willing to use a percentage.