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Laure I Voisey Icpa
32 followers -
I am Forever Passionate about things that balance and fly straight!
I am Forever Passionate about things that balance and fly straight!

32 followers
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Important information for Landlords/
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Zoe is our new Admin Assistant!
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Another useful piece of information for employers and employees shared by EBS VOISEY & PARTNERS
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READ THE LATEST UPDATE ON HMRC: MORTGAGE APPLICATIONS - Contact us for more details or Let us do the Leg Work for you!

Using SA documentation to support mortgage applications - HMRC update
Update on changes to HMRC’s online Self Assessment documentation to support loan and mortgage applications.
HMRC has published guidance on changes to the procedure for using Self Assessment documentation to support loan and mortgage applications. The guidance is copied below.
“Mortgage lenders require external evidence of earnings to support mortgage or loan applications. Until now customers with self-employed income were asked to provide a paper copy of the Tax Calculation (known as the SA302) from HMRC for this purpose.
We have been working with the Council of Mortgage Lenders on improving some Self Assessment (SA) online documentation, so that it can be considered as evidence of income declared to HMRC and to meet the Financial Conduct Authority (FCA) challenge over the robustness of the Tax Calculation.
The online documents that have been improved are:-
• The ‘Tax Calculation’ which shows the breakdown of the income returned on the customers tax return, including commercial versions and
• The ‘Tax Year Overview’ which confirms the tax due from the return submitted to HMRC and shows any payments made, cross referencing the Tax Calculation with HMRC records.
The new process
Lenders will ask customers to provide both these documents, some mortgage lenders have begun, while others are still preparing to put the new process into practice.
To avoid any unnecessary delay or confusion over what a lender needs we strongly recommend you confirm with the lender what is acceptable before obtaining any documents or submitting any information. In many cases this will mean you  can print the documents without having to contact HMRC to get a paper copies.
In order to access and print what you need, you or your client need to be registered for HMRC Online service. If you use
• HMRC software to send your return then you can print both documents from the SA online account
• commercial software to submit the return, you can print the tax year overview from the SA online account but you need to use your own software to print the Tax Calculation.
HMRC will continue to provide paper copies for anyone who cannot access and print their documentation or if the lender requires paper copies then contact HMRC Self Assessment 
Helpline.
If the Lender has asked for self-serve documents, here’s how to print your client’s SA documents from HMRC SA online account:

To access and print your HMRC documentation you will need to be registered online   Once you’re authorised, you can use HMRC Online Services, file returns and exchange information with HMRC online. You then need to log in to your details in your online account and follow the ‘at a glance’ link. You’ll see instructions for printing your Tax Calculation and Tax Year Overview.
Printing your SA documents – Tax Calculation and Tax Year Overview

Please note:
• you cannot get a print of the Tax Calculation from the SA online account if you sent the return using commercial software or paper
• if you used commercial software, you must use that software to print your Tax Calculation but you will need to print the tax year overview from HMRC online account
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One fifth of women are main breadwinners
4 Feb 15
Almost one fifth of women say they are the main breadwinner in their relationship, according to a study by Scottish Widows.

The survey of 2,000 women revealed that 17% claim to be the main source of income in households across the UK.

The research found:

49% of women are in charge of household finances
32% are responsible for funding day-to-day necessities such as food, energy and clothing
44% of couples share financial responsibilities equally.
Younger women more financially independent

Younger women are also becoming more financially independent than women from older generations:

25% of women aged 25-34 say they are the main breadwinner of the household
52% say they do not share bank accounts with their partner, compared to 39% of women overall
on average, British women feel financially independent at 22 years-old.
Childcare a "significant barrier"

Women continue to shoulder childcare responsibilities, despite the narrowing financial gender gap. 68% of women with children under 18 are responsible for looking after them, while 42% agreed with their partner to put their career on hold in order to look after children.

Many women believe that childcare duties negatively impact on their careers and their finances:

26% of mothers say having children has affected their career progression
37% say children have reduced their financial independence and spend up to half of their monthly salary on childcare
15% say childcare payments amount to more than half of their monthly salary.
Jackie Leiper, women and savings expert at Scottish Widows, called on businesses to do more to support working women:

"Despite the huge strides that women have taken with finances, it is clear that childcare remains a significant barrier when it comes to career progression. We believe that both employers and the government should support families in balancing work and childcare responsibilities better."
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