What Is A Tax Calculation (SA302)?
Your Tax Calculation (SA302) is a snapshot of your income in differing categories for a given financial year ending 5th April. It shows any salary or dividends, your land and property earnings, pension income and income from shares, savings and/or investments. In short it shows your self-employed income in a straightforward one-page format per year.
How Do I Download These Documents?
In this day and age, HMRC provide the information online which means it’s readily available to download. Your accountant may well be able to download these for you also, or may have Tax Computations of their own they can send together with Tax Year Overviews – however if you wish or require to do it yourself, please follow the below instructions.
TAX CALCULATIONS (SA302)
1. Head here www.gov.uk/log-in-register-hmrc-online-services
2. You’ll need to click on ‘Sign in’ or ‘Register for HMRC Online Services’.
3. Sign in using your Government Gateway login details.
4. Go to Self Assessment – if you are only registered for Self Assessment, you may automatically be redirected to this page.
5. Follow the link ‘tax return options’.
6. Choose the year from the drop-down menu and select the ‘Go’ button.
7. Select the ‘View return’ button.
8. Follow the link ‘view calculation’.
9. Follow the link ‘view/print/store your return onto your local drive’.
10. Follow the link ‘Save’ under A black and white HTML copy of your return.
11. Click ‘Save’
This may appear differently on mobile and should you have any issues, please give the team a call.
What Is A Tax Year Overview?
How Do I Download These Documents?
1. Head to www.gov.uk/log-in-register-hmrc-online-services.
2. You’ll need to click on ‘Sign in’ or ‘Register for HMRC Online Services’.
3. Sign in using your Government Gateway login details.
4. Select ‘Self Assessment’ – if you are only registered for Self Assessment then you may be automatically redirected to this.
5. Follow the link ‘view account’.
6. Follow the link ‘tax years’.
7. Choose the year from the drop-down menu and select the ‘Go’ button.
8. Follow the link ‘Print your tax year overview’.
9. Select ‘Save as PDF’ and ‘Save’.
10. Repeat for any other years you require.
This may look different on mobile but if you have any issues, give the team a call and we can help.
Your Tax Year Overview (or TYO) simply shows the tax paid in any given year and should correlate with your Tax Calculation (SA302) for the corresponding year.
How much could you borrow?
This calculator is to be used for residential mortgages only & uses your monthly loan repayments & credit card balances that will remain outstanding on completion of the new mortgage, together with your JOINT salary and income from the varying sources shown, to calculate the maximum amount you can borrow
PLEASE REMEMBER that this is a simple guide and not a definitive amount of permitted borrowing. All lenders have a different calculation, with some being more generous than others’.
Please book a call so we can discuss this in more detail when you’re ready to proceed with your remortgage or purchase.
This information is a guide only and should not be relied on as a recommendation or advice, that any particular mortgage is suitable for you. All mortgages are subject to the applicant(s) meeting the eligibility criteria of the specific lender. You should make an appointment to receive mortgage advice which will based on your needs and circumstances.
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