Part Employed/Self Employed Deposit

lwhiteman88

Hi,
First time post so apologies for any mistakes!

I thought best to give my question first and then follow with background which may or may not affect the answer.

As part self-employed I am of course paid gross income where my tax is paid annually in January. So, my question is if I was planning to purchase a property in say September could I use all my gross self-employed income towards our deposit. Then the income I make between September-January will go towards my tax bill in January?

I hope the question is clear but I will give a bit of background to explain my situation.

I am currently in a salaried job 4 days a week. I then pretty much work self-employed every minute I am not at my salaried office. I have 3 years’ accounts from the self-employed income and speaking to a financial advisor my wife and I can borrow up to £380k. We are therefore planning to purchase a property for £420k where we should have a 10% deposit + fees in September. To do this, we will be scrapping every penny we have towards the purchase. My tax bill in January will be around £6-8k which I can afford with the earnings between September-January. Hence my question that I would like to use the £6-8k towards my deposit.

My view is that because the tax payment is not due until January then in theory I do not owe any money in September to HMRC.

I hope I have explained everything and my question makes sense!

Many thanks
Lee