We will require the following documents for all Sole Trader/Partnerships
Minimum documents requirements:
- Latest 2 years’ SA302 Tax Calculation (TC)
- Latest 2 years’ SA302 Tax Year Overview (TYO)
- IF latest years’ figures are higher than the previous years’, and an average of the latest and previous years’ figures are 25% or more than the previous years’ figure, THEN EITHER:
- Accountant’s reference confirming the level of net profit is sustainable, or
- Detailed explanation for the increase, and why the customer believes this is sustainable
Minimum two years trading.
All tax due is paid and up to date.
It is generally expected that any expenses or credit commitments associated with the business will have already been deducted from gross profit, but if there’re any business expenses or commitments not already factored in, these will need added to the application.
The system will request net profits or share of net profits, these figures need to match figures provided on the SA302.