We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Tax overview / Tax calcuations not matching
AdamPD
Posts: 217
Forumite
Hi all,
I'm attempting to remortgage my property using a broker and they're trying to get me a mortgage through Natwest.
As I'm self employed, they have accepted two years of income via self assessment/accounts, but, they came back today to query why the tax overview and tax calcuations for 2018 don't match.
Sure enough, they don't, it's out by £150ish.
I submit my own tax returns via simplytax, so I double checked my figures and everything seems normal, except the HMRC's tax overview figure is £150 out.
So I checked my SA302 for 2018 and I remembered Class 2 National insurance contributions were paid monthly by direct debit at one point, then they scrapped that and added it to the yearly tax bill instead
So I deducted the £151.05 from the total tax bill and now the figures match ok.
So I assume this is an issue with Simpletax not filing the proper figure?
I'm attempting to remortgage my property using a broker and they're trying to get me a mortgage through Natwest.
As I'm self employed, they have accepted two years of income via self assessment/accounts, but, they came back today to query why the tax overview and tax calcuations for 2018 don't match.
Sure enough, they don't, it's out by £150ish.
I submit my own tax returns via simplytax, so I double checked my figures and everything seems normal, except the HMRC's tax overview figure is £150 out.
So I checked my SA302 for 2018 and I remembered Class 2 National insurance contributions were paid monthly by direct debit at one point, then they scrapped that and added it to the yearly tax bill instead
So I deducted the £151.05 from the total tax bill and now the figures match ok.
So I assume this is an issue with Simpletax not filing the proper figure?
0
Comments
-
The figures have to match, all lenders will query it otherwise.
If they now match you are OK.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.8K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.2K Spending & Discounts
- 248.3K Work, Benefits & Business
- 605.9K Mortgages, Homes & Bills
- 179K Life & Family
- 263.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards