Fawcetts is one of Salisbury’s most established firms of chartered accountants, with four partners and a team of 25 highly-qualified and experienced support staff.
A large number of our staff have been with the practice for many years and as a client you will benefit from this partner-led stability and continuity of contact. All of our team are encouraged to interact and communicate with clients regularly and using leading technology we can ensure you benefit from fast turnaround of your work and speedy responses to your needs.
We work hard to ensure our relationships with HMRC, banks and other important legal and financial institutions are robust, which means you immediately benefit from the goodwill we have built with them.
We are proud to be members of the UK200Group of practising chartered accountants, which quality-checks our activities and gives you access, through us, to the best range of technical expertise available. We are also members of IAPA, an international association of accountants with offices across 170 countries, enabling us to help you should you need access to international expertise as companies enter a new global marketplace.
We love working with small businesses of all shapes and sizes. In addition our team have particular expertise in a range of specialist sectors, including charities, independent schools, agricultural and rural affairs, equestrian businesses and the construction industry.
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Self-employed workers in the UK have reported their struggles to acquire a mortgage, after HM Revenue & Customs (HMRC) changed the way it issues details of tax calculations and tax year overviews for submission with mortgage applications.
Until recently accountants and workers themselves have been able to obtain a paper copy of form SA302 that lenders require in order to complete the mortgage application process.
However, from 4 September 2017 HMRC has confirmed that it will no longer issue paper copies and will instead provide digital versions.
This will make the process of securing a mortgage more difficult for self-employed workers and may even further restrict the number of lenders that will offer a mortgage, with reports already coming in of lenders insisting on original paper copies rather than electronic printouts.
Self-employed individuals and their advisers will be required to supply the relevant year’s tax computation, printed from the adviser’s software, along with the tax year overview that advisers can print from HMRC’s online services website, in order to act as a self-serve SA302 that will satisfy lenders.
HMRC has already undertaken discussions with UK Finance, formerly the Council of Mortgage Lenders, about lenders’ requirements. However, the list of lenders who will accept self-serve SA302 forms omits some big high street names.
Many accountants are therefore reminding self-employed individuals to check their lender’s requirements early on in the mortgage application process.
LINK: SA302 Tax Calculation