Skip to main content

Income Assessment Changes for Self Employed from Clydesdale.

13 February 2017


Good News from Clydesdale as they change the way they assess income for self employed customers. 

•  They now calculate income for self employed applicants by assessing their income based on the last 2 years financial data, instead of 3

•  The requirement for limited companies is to provide 2 years accounts (showing 3 years figures)

•  The requirement for non-limited businesses (sole traders or non-limited partnerships) is to provide 2 years accounts (showing 3 years figures) or the latest 3 years HMRC tax calculations with corresponding tax year overviews

•  They will now use a 2 year average income unless the most recent year is lower, in which case the most recent income figure will be used

•  Documents no longer need to be certified by the broker. 

For more details check out their website here.

Using an Ipad

Follow us on twitter

Follow Jeremy Duncombe for market and product updates on Twitter. You'll find him at @JeremyDuncombe.