Sole Trader, LLP or Partnership
We will require one of the following:
Latest 2 years SA302s/Tax Calculations and supporting Tax Year Overview
or
Accountant’s Certificate covering last 2 years income from a qualified accountant or 2 years accounts certified by a qualified accountant.
Limited Company Director
We will require one of the following:
Accountant’s Certificate covering last 2 years income, or 2 years accounts certified by a qualified accountant.
If the customer is not 100% shareholder and only accounts are provided, we will also require the last 2 years SA302s/Tax Calculations and supporting Tax Year Overviews to verify the customer’s income.
Trading less than 2 years
We will require an Accountants reference for the 1st years income which should include a projection for the current year OR the 1st years accounts from a qualified Accountant plus 3 months bank statements.
If the customer is a director of a limited company and they have less than 100% shareholding, the 1st years SA302/Tax Calculation and Tax Year Overview is also required.
If the latest proof of income is older than 12 months (but no more than 18 months old), the latest 3 months Personal and Business Bank Statements will also need to be supplied.
Contractors
Day 1 contractors considered with a minimum of 1-years track record of employment within the same line of work. Minimum 3 months remaining on current contract. We will require a signed copy of the applicant’s current contract.
Income requirements: Weekly rate x 48 weeks for self-employed. Umbrella contractors considered.
CIS
CIS contractors considered using last year’s SA302 / Tax calculations with corresponding TYOs, along with the latest 3 months pay-slips /invoices; OR the latest 12 months CIS payslips / invoices.
Acceptable Income
Sole traders and partnerships – most recent share of net profit if stable or increasing.
Limited Co Directors – salary and dividends. Net profit after tax can be considered for 100% shareholders where two-year-finalized accounts are provided by a suitably qualified accountant.