{"id":8288,"date":"2020-12-27T12:46:26","date_gmt":"2020-12-27T12:46:26","guid":{"rendered":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?p=8288"},"modified":"2024-12-28T14:11:09","modified_gmt":"2024-12-28T14:11:09","slug":"what-is-an-sa302-form-and-how-to-get-one","status":"publish","type":"post","link":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/what-is-an-sa302-form-and-how-to-get-one\/","title":{"rendered":"What is an SA302 form and how do I get one?"},"content":{"rendered":"
An SA302 form is an official Self Assessment tax calculation from HMRC that shows a full breakdown of an individual\u2019s earnings and deductions for a particular tax year. This information is held in the taxpayer\u2019s online Self Assessment tax account, providing evidence of their declared earnings.\u00a0<\/span><\/p>\n When applying for a mortgage, lenders typically ask self-employed people to provide copies of their SA302 forms for the last two or three tax years. It works alongside the tax year overview, which many lenders also request.\u00a0<\/span><\/p>\n In this post, we explain the purpose and contents of the SA302 tax calculation and how to obtain one from your Self Assessment account. We also explain the purpose of the tax year overview.\u00a0<\/span><\/p>\n Sometimes referred to as an ‘SA302 Tax Calculation\u2019 or a \u2018tax calculation form\u2019,\u00a0<\/span>the SA302 form provides details of earnings and deductions (Income Tax, National Insurance, Student Loans, etc) for a specific tax year. A tax year runs from 6 April in one year to 5 April in the following year (e.g. 6 April 2024 to 5 April 2025).\u00a0<\/span><\/p>\n The SA302 form shows the following information relating to an individual taxpayer who has filed a Self Assessment tax return:<\/p>\n At the bottom of the online form, the individual can print or download their full tax calculation.\u00a0<\/span><\/p>\n The tax calculation is only available once the individual files their Self Assessment tax return after the end of the tax year. Additionally, HMRC will only show the SA302 calculation online if the person filed their return through their tax account.<\/p>\n Anyone who is self-employed or receives untaxed income from other sources will usually need to provide copies of their most recent SA302 forms when applying for a mortgage. This includes:<\/p>\n Typically, full-time employees and salaried partners don\u2019t need to provide an SA302 form when applying for a mortgage. Their income details are recorded in payslips and P60 forms instead. However, if they are required to file Self Assessment tax returns for any reason, lenders may request copies of their SA302 forms.<\/p>\n Lenders may also request this form to support business or personal loan applications. They will use the information to assess whether the applicant can afford the monthly repayments. Lending decisions are usually based on an average of the last two or three years of earnings shown on the SA302 calculations and\/or tax year overviews. We discuss the tax year overview document at the end of the post.<\/p>\n To obtain an SA302 form, you must sign into your HMRC online account (normally using your Government Gateway user ID<\/a> and password*). Once you\u2019ve signed into your account, follow these steps:<\/p>\n * Other options are via GOV.UK Verify or a digital identity from another European country.<\/em><\/p>\n There is a slightly different process for obtaining an SA302 for earlier tax years. The required steps are as follows:<\/p>\n You can only obtain an SA302 form for the previous 4 tax years. If it relates to your most recently filed tax return, you must wait at least 72 hours after submission before the calculation is available to view in your account.<\/span><\/p>\n You can still obtain an SA302 even if you didn’t file your Self Assessment tax return through your HMRC online account. Depending on how you filed, you can get your SA302 calculation:<\/p>\n If you request a paper copy from HMRC, you must provide your National Insurance number, UTR, and other personal information when you call. This information is required for verification purposes. It may take up to 2 weeks for your SA302 form to arrive by post.<\/p>\n Should you have any issues getting the documents through your online account or software, you can contact HMRC’s Self Assessment team<\/a> for help.<\/p>\n Yes. Most accountants can obtain copies of your SA302 forms for a mortgage application if they file tax returns on your behalf. However, if you choose this option, your accountant must certify the document before you submit it to your mortgage lender.<\/p>\n Most mortgage lenders accept self-printed SA302 forms as evidence of earnings during the application process. Some may accept PDF files instead. HMRC provides a list of lenders<\/a> accepting printed copies of SA302 tax calculations.\u00a0<\/span><\/p>\n Lenders will also accept tax calculations printed from commercial software to submit returns.<\/p>\n A tax year overview is an official statement from HMRC that shows your Self Assessment bill for the tax year, the tax and other deductions you’ve paid, and any outstanding amount. It is a living document that HMRC continuously updates until the bill and any other payments (e.g. interest or penalties) are paid in full.\u00a0<\/span><\/p>\n In addition to the SA302 form, most mortgage lenders will request a tax year overview from Self Assessment applicants for the previous two or three tax years. This enables them to verify that the information shown on the corresponding SA302 forms is correct.\u00a0<\/span><\/p>\n You can obtain a tax year overview in your HMRC online account. To do so, follow these steps:<\/p>\n The tax year overview will appear on the screen, showing the following information relating to the tax year selected:<\/p>\n You can click on each element listed in the overview for a detailed breakdown of the tax you owe (and payment deadlines), interest, penalties, payments you’ve made, and any adjustments.<\/p>\n In the centre of the page, there is an option to \u2018Print your tax year overview\u2019. Click on this to either print it or save it as a PDF. If you have any issues obtaining this document, you should contact HMRC’s Self Assessment department.<\/p>\n Please comment below if you have any questions about this post.\u00a0Explore the Quality Company Formations Blog<\/a> for more small business advice, insights, and limited company guidance.<\/p>\n What does the SA302 form show?<\/h3>\n
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Who needs an SA302 form?<\/h3>\n
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How do I get my SA302 form?<\/h3>\n
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If you did not file your tax return through HMRC’s website\u00a0<\/span><\/b><\/h4>\n
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Can my accountant get the SA302 form?<\/h3>\n
Will my mortgage lender accept a printed SA302 form?<\/h3>\n
What is a Self Assessment tax year overview?<\/h3>\n
How to get a tax year overview<\/h4>\n
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Thanks for reading<\/h3>\n