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SA302 for Mortgage brokers

SA302 for Mortgage brokers

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Mortgage brokers insist on a SA302 Tax overview from HMRC. However when the Returns are submitted via commercial software, HMRC online does not display the detailed Tax calculation, showing all the Income and tax due.  Have others also encountered this? Do we or the client need to request this from HMRC?

Does HMRC online  software allow the filing of prior year returns? I could only see the option to submit 2018/19 Return. 

Any advice would be appreciated. Thanks

Replies (17)

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By Tim Vane
08th Oct 2019 23:23

You have misunderstood slightly. The taxyear overview is different from the SA302 and can be downloaded from HMRC even when the return is filed via commercial software. Submit it along with the tax comp from your commercial software (ensuring the numbers match) and most brokers will accept it as has been agreed with the Council of Mortgage Lenders.

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Replying to Tim Vane:
By petersaxton
09th Oct 2019 07:50

Unfortunately, many brokers don't have a clue about the new situation.

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Replying to petersaxton:
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By aadil
09th Oct 2019 09:40

petersaxton wrote:

Unfortunately, many brokers don't have a clue about the new situation.

This one I am dealing with is one of them!

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Replying to aadil:
By JCresswellTax
09th Oct 2019 10:00

haha you are slagging the broker when you have indicated above that you also don't have a clue! I'm laughing out loud at this one :)

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Replying to aadil:
wolfy
By rob winder
10th Oct 2019 11:37

Tell the broker to do one. Its the lender and the underwriter that need to be satisfied not the broker.

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Replying to aadil:
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By andrew1211
11th Oct 2019 10:30

Ditch the broker then this scenario has been in play for a couple of years, if they have not got the message yet they are obviously clueless

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By SXGuy
09th Oct 2019 08:05

What's the issue? Commercial software produces the SA302 and hmrc online shows the tax year overview.

Every lender I've dealt with accepts this? If your software doesn't produce an SA302 it's time to move.

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RLI
By lionofludesch
09th Oct 2019 08:18

That's right. Your software produces the detailed calculation and the tax overview is just there to show that the taxman has the same answer as you.

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Replying to lionofludesch:
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By aadil
09th Oct 2019 09:39

lionofludesch wrote:

That's right. Your software produces the detailed calculation and the tax overview is just there to show that the taxman has the same answer as you.

True it does. But this broker wants to see the whole calculation from HMRC, not from my software. I can obtain the Tax overview showing the tax due and paid from HMRC. But not the computation I submitted through software.

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Replying to aadil:
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By Wanderer
09th Oct 2019 09:51

Your broker doesn't know what he's talking about. As has already been suggested just print the SA302s from your software and the TYO's from HMRC.

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Replying to aadil:
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By Sheepy306
09th Oct 2019 09:54

How does the broker know that the SA302 given to them is not from HMRC?

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Replying to Sheepy306:
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By Wanderer
09th Oct 2019 09:56

Because the ones printed from commercial software are in a different format.

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By Bob Loblaw
09th Oct 2019 09:52

Experienced this once or twice - thankfully not recently as most brokers I've encountered seem to have wised up. I've always just tried to call their bluff. Tell them that the rules about HMRC issuing SA302s changed around about 2017 (I think?), direct them to the extremely long link below which shows a list of all providers who have agreed to accept either HMRC SA302s and TYOs or a TYO along with a calculation from commercial software.

https://www.gov.uk/government/publications/mortgage-providers-and-lender...

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By bernard michael
09th Oct 2019 10:14

HMRC no longer produces an SA302. Tell the broker to keep up to date or change your broker

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By Duggimon
09th Oct 2019 11:42

Lenders all accept the new format, it's only some brokers who don't and it falls to us to educate them since HMRC never will.

That said, it's been a long time since I had an issue. Brokers still ask for the SA302 and I send them the TYO and tax comp and they have no issues.

Also, previous responders saying HMRC don't produce them any more are wrong, they are still required by some and when the reason is explained to HMRC they will send them out. Visa applications are one situation I've had them sent for recently.

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By SWAccountant
09th Oct 2019 13:11

Anybody calling the OP an idiot for his broker not understanding this has obviously not dealt with many brokers.

We still get this all the time. There's a link at HMRC online that explains this with reference the Coincil of Mortgage Lenders. That usually shuts them up.

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Replying to SWAccountant:
By JCresswellTax
09th Oct 2019 16:49

Cool story bro

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