Pepper Money Standardised proof of income criteria for self-employed customers and extended how long the proofs are valid for.
Thank you for your continued support. We’re delivering more enhancements today. For Directors, Sole Traders, and Partnerships, we now accept as proof of income either HMRC produced SA302s, OR Accountants’ Certificates, OR Accountant Produced Tax Calculations with corresponding Tax Year Overviews. We’ve also extended how long these proofs are valid. We hope this additional flexibility will enable you to cater to the needs of more customers and help you place more business.
Full details of these changes are available in our attached updated Packaging Guides, but a summary is below:
|
Self-employment Type |
Proof Acceptable |
Acceptable Until
|
| Sole Trader – self-employed person trading as a sole proprietor of a business that is entitled to all profits but is liable for all losses.
Partnership – self-employed person where two or more people make up the total ownership of the business. Each person shares in the profits and losses of the business. Ltd Company Director – a person who owns at least a 35% shareholding of a limited company registered in the UK. |
Prime – Latest 2 years HMRC produced SA302s OR fully completed Accountants’ Certificate confirming the last two completed years figures OR Latest 2 years Accountant Produced Tax Calculations with corresponding Tax Year Overviews from HMRC website.
Plus – Latest year HMRC produced SA302 OR fully completed Accountants’ Certificate which confirms the last completed year figures OR Latest year Accountant Produced Tax Calculations with corresponding Tax Year Overview from HMRC website. |
If using the latest SA302s or Accountant Produced Tax Calculations with corresponding Tax Year Overviews, they will be acceptable at Offer for up to 12 months from tax year end e.g. 5th April OR 22 months, e.g. 31st January, with the latest 3 months business bank statements.
If using an Accountants Certificate with a projection, it will be acceptable at Offer for up to 22 months from the accounting period year end. If using an Accountant’s Certificate without a projection, it will be acceptable at Offer for up to 12 months from the accounting period’s year end OR 22 months with the latest 3 months of business bank statements. |
These changes can be applied to pipeline cases. Please message us via Nivo to advise us of any cases you may have.
Key Contacts
If you have any questions or would like to discuss how Pepper could help your customers, please contact –
Matthew Batte 07498 291038 (South), Luke Edwards 07542 321177 (North), Claire Blunt 07519 750079 (North), Nicola Culshaw 07519 750084 (North), Ryan McGrath 07354 249284