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Forms SA 302

Lender wants HMRC copies of 302s

I have tried to download from HMRC website but without success

I was subsequently advised by the agents helpline that I would have to contact the clients tax district.This I did and have obtained the copies.I was however advised by the district that I could download from the HMRC website!!

Does anyone know of a way to download from HMRC website?

Many thanks

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20th Aug 2011 22:08

Not possible

There's no way you can download from HMRC website. You can get the information by downloading but it is not an SA302.

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By ruben
21st Aug 2011 10:19

SA 302s

Many thanks

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By Big Ade
21st Aug 2011 12:22

SA 302s

The downloaded SA302 doesn't have the HMRC header/logo which lenders usually insist upon. If you write to clients tax district they will send you a print of the downloaded SA302, again without HMRC header/logo which lenders have not accepted.

I'm told that SA302s are only produced in response to submission of paper Returns and it's not possible to recreate one if the original has been lost by client. I get round this by asking HMRC to date stamp the SA302 they downloaded and lenders usually accept these.

 

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By ruben
22nd Aug 2011 10:48

Sa302

It seems odd that we are being "encouraged" to file online but if we do the forms 302 are not as readily available as they would be if paper returns had been sent

Brave new world!

 

 

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22nd Aug 2011 11:03

Bank statements and utility bills

conveen1 wrote:

It seems odd that we are being "encouraged" to file online but if we do the forms 302 are not as readily available as they would be if paper returns had been sent

Brave new world!

It's similar with bank statements and utility bills.

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I can't think it would be too difficult

for HMRC to include a facility of being able to download Forms SA302, which could literally make the difference between the individual being granted a mortgage and being declined.

However, this would be a helpful and useful progression, therefore I seriously doubt it will ever happen!

On another note though, the banking/building society movement still don't seem to understand or be able to interpret how the self-employed operate, specifically with regard to the effects of the annual investment allowance. The words "thick and plank" spring to mind!

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22nd Aug 2011 11:28

@Time for change

Have you ever tried explaining to a bank/building society why you can't provide ltd co/share holders/remuneration/dividend details for a sole trader?

One I dealt with recently told my client we were being obstructive when I refused to sign the declaration that the sole trader was the 'sole shareholder' (the building societies recommendation!). The building society wouldn't accept the accounts, or a letter, either. The information had to be provided on their limited company application form!

So I completed the form, and covered it in handwritten notes and disclaimers. Our client got the mortgage!

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22nd Aug 2011 11:45

Own forms

When the bank insist on their own forms being completed, it ranges from a nuisance to a potential PI problem when you are not given opportunity for the usual caveats & disclaimers.

I too have attempted to explain the effect of Annual Investment Allowance but for all the good it did I might as well have tried to teach String Theory to chimps (who perhaps would make better customer service advisors).

It leads me to believe that the major banks and their like are not interested in the self employed despite what they say.

 

 

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22nd Aug 2011 13:43

We recently

needed some SA302's for two client covering three years. I rang the agents line at HMRC, quickly answered, usual security, forms posted and received within two days. Not as convenient as downloading from web but as good as anything from HMRC lately!

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Yes, Canary Boy,

I have to agree with your findings on this one. Phoned the dedicated agent line, they posted them out and, the only delay, was within the postal system.

Returning to the bank/building society movement, don't you just love it when they ask for "audited" accounts, for a sole trader!. Well at least it shows they're fully up to speed and behaving like "responsible lenders", which they seemingly have to repeat, presumably because they were irresponsible, pre 2008!

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By ruben
24th Aug 2011 18:46

Forms 302

I am the original poster-many thanks to all concerned for advice,thoughts etc

One last matter-I now have to provide a reference!!

Can anyone point me in the right direction-I need a reference that is "strong" (the client has good credentials/credit rating) but I am aware we live in a litigious age

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24th Aug 2011 20:37

Summary & disclaimer

 

Put a summary of income/profits, possibly up to 3 years if you have prepared the accounts, and then make sure you put a disclaimer in the reference, similar to the following:

It should be noted, we have not carried out any specific work with regard to the statement above, it may be that our knowledge of our clients affairs may not be fully up to date.  Whilst we have no reason to believe our client would enter into a transaction which our client did not expect to fulfil, neither we nor any other firm of accountants can make any assessment of a clients continuing income or future outgoings, due to the inherent uncertainty in future events. 

Whilst the information provided above is believed to be true, it is provided without acceptance by this firm, its officers, agents or employees of any responsibility whatsoever and any use you wish to make of the information is therefore entirely at your own risk.

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24th Aug 2011 21:09

Fantastic

Shirley

That is brilliant. It is just the right tone.

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By ruben
25th Aug 2011 10:15

302s

Thanks Shirley-really helpful

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