You can use the SA302, which is an official tax figure from HMRC, to show your income after you have filed your Self Assessment tax return. This document can be used to show up to four years of income tax. This can help if you need to show proof of your income, like if you’re self-employed and trying to get a home.
Want to know where and how to get SA302 forms online? We will show you how to get your SA302 (also called a tax figure) and tax breakdown from the HMRC website in this blog.
What is an SA302 Form?
What the SA302 basically does is show how your tax is determined. As a result, it includes income from being self-employed, interest, PAYE income, profits, rental income, and all other taxed income. On the HMRC website, you can now get a legal record of your tax and pay called a SA302 form. The form is split into two sections:
Tax calculation—a summary of how your taxes are calculated and the different types of income you can have;
Tax summary: taxes due, taxes paid, and taxes still overdue. This document is needed to make sure that the information on the SA302 is correct, whether the SA302 is printed or viewed online.
After a person files their self-assessment tax return, HMRC sends them the Tax Year report. It shows how much tax you need to pay to HMRC or how much you can get back during a certain tax year.
In the past, SA302s were sent out by mail. But in the last few years, HMRC has made this available online and replaced the form with pages that give an outline and do the tax figures. This has helped speed up the process of getting an SA302 for things like asking for mortgages as a self-employed person.
When Would You Need an SA302 Form?
If you want to borrow money for a business, personal, or housing purpose, the seller will want to see proof that you can pay them back. If an applicant is working full-time, they can usually show proof of their income with the P60 form and their payslips from the PAYE system.
But if you’re self-employed and don’t get paid through PAYE, a lender will usually need to look at your SA302 form to get a full picture of your income.
What Does an SA302 Look Like?
Your SA302 tax calculation involves calculating your sources of earnings, the amount of income tax that will be charged, the method that will be used to compute income tax, any allowances or reliefs that will be claimed, the amount of net tax that will be required after deductions, and any NIC that will be owed.
How to Get SA302?
If the lender asks for copies of online documents, you can print them from your online account instead of calling HMRC. To print and get to the Tax Year outline and tax estimate (SA302), you need to be signed up for HMRC Online services. You can easily get your SA302 form by downloading it from your HMRC tax account on the GOV website, which is also where you do your taxes and file your tax report.
- Log in to your online HMRC personal tax account
- Select “More Self-Assessment Details.”
- Select ‘Get Your SA302 Tax Calculation’
- Continue to Your SA302
- Choose the option to ‘Print Your Full Calculation.’
- Choose “Tax Return Options” from the left-hand menu to print for a different tax year.
- Choose the year you need
- Select the option to check your calculation.’
- select “View and Print Your Calculation
If your application requires data dating back farther than one year, you will need to download several copies of Form SA302 since each tax overview and calculation is specific to a single tax year.
How to Get SA302 By Commercial Software?
You or your accountant could find your SA302 form with the assistance of the commercial software that you use for your personal or company taxes. This applies whether you do your own taxes or have your taxes done by a professional. It is possible to see it on your tax breakdown dashboard under another label called ‘tax computation’.
How to Get SA302 By Phone
You would need to call 0300 200 3310 to get in touch with HMRC if you sent in a paper tax return. You will get a copy of your SA302 in the mail. All you need is your UTR and National Insurance numbers. Call the HMRC Self Assessment service if you can’t see or print online documents or if the loan needs paper copies. They will give you the documents.
Quick Wrap-Up
If you have an income that is not subject to PAYE (for example, you are a full-time landlord or you are self-employed), it might be difficult for a bank to calculate how much earnings you bring in each year.
In order to demonstrate to the mortgage lender that you have had a reliable source of income in the past, you will need to provide them with an SA302 form when you apply for a mortgage. You may also seek the assistance of a qualified accountant in order to get the SA302 form quickly and easily.
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