Self employed question

Bmwm3gt2

Hi, my wife and I are hoping to purchase our first house together in a year or so but I just want to check, our accountant has told us that they would use our profit figure before capital allowance deductions, is this correct? I think we are to far away from looking to purchase to get in contact with a mortgage adviser! Thanks.

kingstreet

If it's sole trader/partnership it's net profit and for limited companies it's directors' remuneration and dividends (taken from latest two years' tax calcs and tax year overviews.). There are lenders who take directors' remuneration and share of post-tax net profit if needed.