Self employed partner - mortgage advice

gingercordial

Ozzuk wrote: »

Some of the work is invoiced, but when it is seeing private clients (counselling) they pay in cash and wouldn't expect an invoice.

Seems like message is clear...need a broker!

I would expect even in those circumstances for her to be issuing a receipt, even if just from a handwritten duplicate receipt book (carbon paper or the newer kind that don't use it) which can be had for a couple of pounds eg:

https://www.amazon.co.uk/dp/B003TL7YZ6/ref=asc_df_B003TL7YZ656696677/

Presumably something more fancy can be obtained for a bit more.

For moral and professional (I work in tax) reasons I don't like to pay in cash without getting a receipt as it gives some level of reassurance that the money is going to be declared. And from your GF's point of view this all provides better evidence to her accountant and mortgage broker.

Ozzuk

gingercordial wrote: »

I would expect even in those circumstances for her to be issuing a receipt, even if just from a handwritten duplicate receipt book (carbon paper or the newer kind that don't use it) which can be had for a couple of pounds eg:

https://www.amazon.co.uk/dp/B003TL7YZ6/ref=asc_df_B003TL7YZ656696677/

Presumably something more fancy can be obtained for a bit more.

For moral and professional (I work in tax) reasons I don't like to pay in cash without getting a receipt as it gives some level of reassurance that the money is going to be declared. And from your GF's point of view this all provides better evidence to her accountant and mortgage broker.

Great idea, I shall suggest that!

Thrugelmir

Ozzuk wrote: »

Some of the work is invoiced, but when it is seeing private clients (counselling) they pay in cash and wouldn't expect an invoice.

Keep a receipt book. Just mark on the internal copy how the fee was paid. Whether the client wants a copy or not has no bearing.

Slinky

Even if a customer doesn't require an invoice, there's nothing stopping her producing one for her own accounting purposes and tallying that up with the cash receipt.


One other thing, if she does give customers invoices it will show them that she is a professional person who isn't on the fiddle.

lisyloo

The T&Cs I've looked at for various providers state proveable income.

So it's your personally interpretation that cash isn't proveable?
It's up to mortgage lenders to specifiy exactly what they mean but I don't agree that cash means it's not "proveable".


I made a £200 payment in cash at an M&S til recently onto my credit card and both parties agree that the receipt proves I did.

Ozzuk

lisyloo wrote: »

So it's your personally interpretation that cash isn't proveable?
It's up to mortgage lenders to specifiy exactly what they mean but I don't agree that cash means it's not "proveable".


I made a £200 payment in cash at an M&S til recently onto my credit card and both parties agree that the receipt proves I did.

I don't get what point you are trying to make? Are you suggesting that as we can't prove income (given I've admitted a lack of receipt/invoice for some clients) they will take our word for it? If so I'll be very happy with that