Mortgage in principle without sa302

csgohan4

jaydeeuk1 wrote: »

Your post seems to go against plenty of the others on the internet that says they have no legal powers to force a director to be self assessed if they have 0 tax liability and haven't been asked by hmrc to send one in.

I was a company director, had 0 tax liabilities also, but hmrc sent me a self assessment request.


Have you double checked the company address and where it is all sent to?


If you don't want to submit a self assessment that's up to you. But if they request tax returns for previous years and put interest and penalties on top you only have yourself to blame.


As a company director you must know your responsibilities and not ignore them whether requested or not.

jaydeeuk1

Yes our company has had same address since incorporation. If HMRC want to try and chase me for interest and penalties on £0 tax for the past few years then let them.

ACG

The fines are imposed for late returns, even if the amount owed is £0...Im not saying you are due any fines, I have no idea. You should speak to your accountant.

Not having to file a return does not mean you can not file one. I did have a similar enquiry late last year, in the end the clients accountant did the paperwork and we managed to get him a Mortgage. Getting them will open up your options but not having them should not prevent you from getting a Mortgage.

The choice (was it Cilla that said that?) is yours.

betmunch

ACG wrote: »

The choice (was it Cilla that said that?) is yours.

Think it was "our Graham" on Cillas show.

Could be wrong, it was a long time ago!

ACG

https://www.youtube.com/watch?v=HI51-B3kUBo - 13 minutes 10 seconds in and our Graham says it.

I cant decide if youtube is amazing for having everything or someone has dragged it down with episodes of blind date. Either way, its like a Saturday night back in the day.

Anyway, my Saturday nights are not quite that bad so im off out to watch the boxing.

jaydeeuk1

Right, ive had a reference from my accountant showing salary and dividends for past 2 years but no lender will accept it.

We applied with my salary as £15k, £20k div and wife as salary £15k. Could i simply pay wife £40k instead and for myself just apply as an employee based on my salary and disregard dividends? Even if they need 3 months of payslips, its better than waiting for 2 years worth of accounts. My accountant too agrees it isnt worth self assessment for 13/14 as i owe nothing and will just get fines and penalities from hmrc.

amnblog

I am a bit confused why your broker as not sorted this without the SA302s as they are not available.

Find one experienced with the self employed for a potential resolution.

ACG

Agreed. Its your broker who is lacking here.
There are other ways to do this, either 1 years sa302s or with an accountants reference.

Do not try to do this with wages alone as its a lie (mortgage fraud) and likely to get found out and in turn raise questions and concerns and the last thing you want is a concerned underwriter.

jaydeeuk1

Thanks all. Have now got a mortgage in principle, if anyone is in the same position as me then Leeds and nationwide both accept accountants statements.

betmunch

jaydeeuk1 wrote: »

Thanks all. Have now got a mortgage in principle, if anyone is in the same position as me then Leeds and nationwide both accept accountants statements.

It's not just those two lenders that will accept accountants references.

If anyone thinks they are in your situation they should seek advice from a competent broker