Self-Employed Mortgage Documents: SA302s, Tax Year Overviews & Accounts
Self-employed applicants prove their income to a mortgage lender mainly through two HMRC documents: the SA302 (your tax calculation) and the Tax Year Overview. Lenders use these because they show what you actually declared to HMRC, rather than what a bank statement might suggest. How many years you’ll need, one, two or three, and whether a lender also wants full company accounts, depends on your situation and the specific lender.
This page walks through what an SA302 actually is, how it differs from a Tax Year Overview, exactly how to get both from HMRC, and the document mistakes that most often slow self-employed applications down.
What documents does a self-employed applicant typically need?
| Sole traders. Some lenders will work from your latest year's tax documents alone. Most want two years, your latest and the year before. Some ask for three. | |
| Limited company directors. Similarly, lenders will ask for one, two or three years of tax documents, plus the corresponding company accounts, typically your latest year and the year before. | |
| Alongside your tax calculations, lenders will also ask for the matching Tax Year Overviews for each year requested. | |
What is an SA302, and why do lenders ask for it?
An SA302, also called a tax calculation, is essentially what you’ve declared to HMRC as your income. It’s a full breakdown of your declared earnings for that tax year.
- If you’re a sole trader, it shows your net profit from self-employment.
- If you’re a limited company director, it shows your salary from your own company, plus any dividends you’ve taken.
Lenders ask for this specific document because it’s the income you’ve formally disclosed to HMRC, and that’s the figure they base your tax on. A bank statement can’t verify what you’ve declared, someone could show a lender high account balances without that reflecting their declared taxable income, so lenders always work from what HMRC actually holds on record.
SA302 vs Tax Year Overview: what’s the difference, and why do lenders want both?
The SA302 (tax calculation) shows your declared income and breaks down how much tax you owe on it.
The Tax Year Overview is the corresponding document confirming you’ve actually paid that tax bill, or how much of it remains outstanding.
Lenders ask for both because they serve two different checks: the SA302 verifies your income, and the Tax Year Overview verifies you don’t have an outstanding tax liability hanging over the application.
How to get your SA302 and Tax Year Overview from HMRC
You’ll need to log into your HMRC online account (or ask your accountant, if they manage your Self Assessment for you).
- Sign in to your HMRC online account with your Government Gateway user ID and password.
- Go to Self Assessment, then “More details about your Self Assessment returns and payments.”
- From there, you can view and print both your tax calculation (SA302) and your Tax Year Overview for the relevant year.
A couple of things worth knowing before you start:
You can’t download these documents until 72 hours after you’ve submitted your Self Assessment return.
HMRC lets you access evidence of your earnings for the last four tax years, so if a lender wants two or three years’ worth, it’s all available in one place.
If you’re working with a broker, you don’t need to figure this out alone, most brokers, including Heron, have a full walkthrough of exactly what to click and what the finished documents should look like once you’ve got them.
Can you get a mortgage with only one year of self-employed accounts?
Yes, some lenders will work with a single year’s figures, but it tends to be criteria-driven rather than a blanket yes. A common example: if you’ve moved from an employed role into self-employment, many (not all) of these lenders want to see that you’re working in the same industry, treating your prior employment as relevant history.
There can be other conditions too, for a limited company, a lender might decline to use one year’s figures if the business isn’t performing to a certain level. It’s genuinely possible with the right lender, but it’s worth speaking to a broker who can identify which lender actually fits a one-year track record before you apply.
One year’s income, or an average of two? How lenders calculate your figure
If you’ve got two or three years of accounts, many lenders will take an average of the last two years. Some will look at the latest year alone. A few require all three years’ figures even if they ultimately base the calculation on the latest year.
It’s genuinely lender-dependent and criteria-driven, there’s no single universal rule, which is exactly why the right lender match matters as much as the documents themselves.
When do lenders want full company accounts, not just SA302s?
Mainly when a lender wants to assess your income based on the business’s net profit, rather than the salary and dividends you personally took out.
This matters because not every director draws a large salary or dividend, some leave profit in the business rather than taking it out, so basing affordability purely on what you personally withdrew could significantly understate your actual earning capacity. In this scenario, a lender will lean more heavily on your full company accounts.
Most lenders will still ask for your SA302s and Tax Year Overviews regardless, partly to confirm you’re declaring and paying tax correctly, but the accounts are what carries the weight in how much you can borrow.
This article is general information, not personal financial advice.
Before you send your documents to a broker, check these:
| Make sure your tax return is fully submitted, not a draft. If your Self Assessment hasn't been 100% completed and filed with HMRC, lenders won't accept the calculation, because it can still be changed. The document should clearly show it's fully filed. | |
| Check your tax owed figure matches across both documents. Your SA302 and Tax Year Overview should show the same tax owed figure. If they don't, it's usually because one is a more historic, pre-completion version. Get an up-to-date version of both. | |
| Get the document from HMRC, not an accountant's "tax computation." If your accountant provides a summary of what they're about to submit to HMRC (sometimes called a tax computation), it can look nearly identical to a genuine SA302, but lenders want the real HMRC-issued document. It should carry the HMRC logo, your name, and your Unique Taxpayer Reference (UTR). | |
| Provide business bank statements if you're a limited company director. It's common to send only personal bank statements, since it feels like the lender is assessing your personal situation, but for limited company income, lenders want to see the health of the business itself. If the business uses more than one account, provide them all, missing out an overdrawn account while showing a healthier one doesn't give the full picture. |
What to have ready if you’re applying in the next few months
Sole trader: your latest two years’ tax calculations (SA302s) and matching Tax Year Overviews, as a minimum.
Limited company director: the same two documents, plus your latest two years’ company accounts.
Having these ready and in date well before you apply is one of the simplest ways to keep a self-employed application moving without delay.
Why self-employed applicants choose Heron Financial
Heron Financial is a B Corp certified, whole of market mortgage and protection broker. Self-employed and limited company applications are territory we work in constantly, we know which lenders will accept a single year’s figures, which lean on net profit rather than salary and dividends, and exactly what a genuine HMRC document should look like versus an accountant’s summary that won’t be accepted. If you’re not sure where to start with your tax documents, we’ll walk you through it. It’s all fee-free.
This article is general information, not personal financial advice.
FAQs
What documents do self-employed people need for a mortgage?
Mainly an SA302 (tax calculation) and matching Tax Year Overview from HMRC, covering one to three years depending on the lender. Limited company directors are also typically asked for the corresponding company accounts.
What is an SA302?
An SA302, or tax calculation, is HMRC's record of the income you declared through your Self Assessment tax return. For sole traders it shows net profit from self-employment; for limited company directors it shows salary and dividends taken from the company.
What's the difference between an SA302 and a Tax Year Overview?
The SA302 shows your declared income and how much tax you owe on it. The Tax Year Overview confirms whether that tax bill has actually been paid. Lenders ask for both, the first to verify your income, the second to confirm you don't have an outstanding tax liability.
How do I get my SA302 and Tax Year Overview?
Log into your HMRC online account with your Government Gateway details, go to Self Assessment, then "More details about your Self Assessment returns and payments," where you can view and print both documents. They're available for the last four tax years, but only from 72 hours after you've submitted your return.
Can I get a mortgage with only one year of self-employed accounts?
Yes, with some lenders, though it's usually criteria-based rather than automatic. A common condition is having moved into self-employment from an employed role in the same industry. A broker can identify which lender fits a one-year track record.
Do lenders use my latest year's income or an average?
It varies by lender. Some use an average of the last two years, some use the latest year alone, and some ask for three years' figures even if the latest year drives the calculation.
Why won't a lender accept my accountant's tax computation?
Lenders want the official document issued by HMRC, not an accountant's version of what they're about to submit. A genuine SA302 carries the HMRC logo, your name and your Unique Taxpayer Reference. An accountant's tax computation can look similar but typically isn't accepted.