Follow our guide: Get your SA302 and Tax Year Overview documents
The SA302 is a brief summary of the income that has been reported to the HMRC. It is a response from HMRC which is only issued to those who submit a tax return before 31 October (for paper returns) or 31 January (for online returns) following the end of the tax year.
The form shows your income for the year and how much tax you owe. It is effectively a certificate that documents exactly how much income you have declared, therefore the form is an easy way for a lender to verify that the income on a mortgage application is the same as you have shown to HMRC.
An additional document called a Tax Year Overview verifies that the SA302 information is correct. It is produced by HMRC once you have submitted your self-assessment tax return and shows the amount of tax due to be paid directly to HMRC or any available amount of a refund for a given tax year.
We recommend if you don’t already have your SA302 and Tax Year Overview and intend to submit these as part of your mortgage application, you do so at the start of the application process as they can take a number of weeks to obtain. To ensure the loan is affordable, during the application process we require you to send both documents together.
(Source credit: Legal & General)