Form SA302

itwasntme001

I am going to remortgage my BTL property and the lender is asking for my SA302 form and tax overview for last tax year (18/19). Do you know how i can get this as i never had to do a self assessment and certainly do not need to for last tax year. The BTL only started this tax year and previous to this i had no BTL.


Thanks

SonOf

HMRC doesnt issue SA302s any more and lenders don't need them. However, the phrase SA302 still exists for legacy reasons. Lenders will use your tax calculations instead (usually obtainable via your accountant or Govt Gateway).

itwasntme001

SonOf wrote: »

HMRC doesnt issue SA302s any more and lenders don't need them. However, the phrase SA302 still exists for legacy reasons. Lenders will use your tax calculations instead (usually obtainable via your accountant or Govt Gateway).

Thank you. I find it strange then how this lender (very well known) has asked for something that can not be provided.


I do not have an accountant but I do have access to Govt Gateway. Do you know what exactly i need to look out for once logging in? I can not seem to find anything obvious like a tax summary etc.

Dazed_and_confused

They can be provided, they still exist and HMRC issue them to lots of people.

But in most cases there isn't a need to issue them for tax purposes as software automatically calculates the tax due, you don't need a calculation sent out by HMRC.

Your problem is that an SA302 is a Self Assessment calculation and you cannot possibly get one if you haven't filed a Self Assessment return for the tax year in question.

itwasntme001

Dazed_and_confused wrote: »

They can be provided, they still exist and HMRC issue them to lots of people.

But in most cases there isn't a need to issue them for tax purposes as software automatically calculates the tax due, you don't need a calculation sent out by HMRC.

Your problem is that an SA302 is a Self Assessment calculation and you cannot possibly get one if you haven't filed a Self Assessment return for the tax year in question.

Ok thanks. I am a bit confused because SonOf said that its a legacy form but now you are saying they still exist?


Is it possible to get a tax return done in time and thereafter get a SA302 form to satisfy the lender? If not is there anything else that can be sent to the lender instead?

Thrugelmir

itwasntme001 wrote: »

The BTL only started this tax year and previous to this i had no BTL.

Presumably you've informed the new lender of this fact.

itwasntme001

Thrugelmir wrote: »

Presumably you've informed the new lender of this fact.

Yes i have.

Dazed_and_confused

I wouldn't call it s "legacy" form, it is still in use but just isn't issued as often as it was years ago.

Wouldn't the best option be to explain to the lender that you cannot supply the SA302 as you had no need to file a Self Assessment return for 2018:19.

Unless you are due a refund or owe some tax you won't be able to get a PAYE tax calculation either (a P800 or PA302).

The earliest you could for a return for the current tax year is 6 April 2020.

itwasntme001

Dazed_and_confused wrote: »

I wouldn't call it s "legacy" form, it is still in use but just isn't issued as often as it was years ago.

Wouldn't the best option be to explain to the lender that you cannot supply the SA302 as you had no need to file a Self Assessment return for 2018:19.

Unless you are due a refund or owe some tax you won't be able to get a PAYE tax calculation either (a P800 or PA302).

The earliest you could for a return for the current tax year is 6 April 2020.

Thanks for your reply again.


I did explain to the lender and they said i still need to provide it. I just checked the paperwork and i do have a P800 for 18/19.


So just to confirm, there is no possibility at all to get a SA302 form for 18/19? Do you think a P800 will be a suitable alternative?

Dazed_and_confused

You could try and register for Self Assessment for 2018:19 however you haven't provided any valid reason to need to complete a return so I would expect HMRC to refuse your request.

In any case if the P800 calculation is correct and you filed a return all that would happen is you have two similar calculations, one called an SA302 and one called a P800.

I think you need to have a chat with your mortgage advisor.

itwasntme001

Dazed_and_confused wrote: »

You could try and register for Self Assessment for 2018:19 however you haven't provided any valid reason to need to complete a return so I would expect HMRC to refuse your request.

In any case if the P800 calculation is correct and you filed a return all that would happen is you have two similar calculations, one called an SA302 and one called a P800.

I think you need to have a chat with your mortgage advisor.

Thanks, will speak to the advisor about the P800 form and whether that is good enough.