People who are self employed and need evidence of their earnings for mortgage and loan applications will find it easier to get the information after changes to the paperwork, HMRC has said.
Accountants have long complained that getting a paper copy of HMRC's SA302form (a summary of a tax year, including earnings) was a hassle and could take up to 14 working days.
AccountingWEB members recently saidthey had been told that the procedure had been improved.
HMRC has confirmed this. It said it listened to the criticism and improved its self assessment online documentation so that "lenders may consider them as evidence of income declared to HMRC and to meet the Financial Conduct Authority challenge over the robustness of the tax calculation".
HMRC also said it has improved its online ‘tax calculation’ feature which shows the breakdown of the income returned on the customer's 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.